Shares in AIM-listed graphene specialist Directa Plus plunged by 23% following the release of interim figures showing a steep reduction in cash reserves and a looming requirement for fresh capital to sustain growth into 2026. Management reported a full-year revenue projection of €7.0 million, a slight increase from €6.66 million in the prior year, but warned of an adjusted EBITDA loss of approximately €2.5 million. The company’s cash position contracted sharply during the period, with no undisclosed sources of liquidity identified to bridge the shortfall. Investors have reacted to the combination of modest top-line growth, persistent losses, and an undefined funding timeline, signaling heightened concern over dilution risks and the group’s ability to scale its graphene applications across textiles, water treatment, and energy storage markets without additional financing.