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Private company

META MATERIALS INC.

American semiconductors and related devices company based in Dartmouth1

In its 2024 annual report the company says: “We develop new products and technologies using innovative sustainable science. We have product concepts currently in various stages of development with multiple potential customers in diverse market verticals. Our business model is to co-develop innovative products or applications with industry leaders that add value.”4

Last updated Oct 21, 2026.

Overview

  • IndustrySemiconductors & Related Devices1
  • HeadquartersDartmouth, Canada1
  • Incorporated inNV2
  • Business address1 Research Drive, Dartmouth, A5 B2Y 4M92
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Meta Materials Inc. (also referred to herein as the “Company”, “META®”, “META” “we”, “us”, or “our”) is an advanced materials and nanotechnology company. We are developing materials that we believe can improve the performance and efficiency of many current products as well as allow new products to be developed that cannot otherwise be developed without such materials as noted in the examples below. We develop new products and technologies using innovative sustainable science. We have product concepts currently in various stages of development with multiple potential customers in diverse market verticals. Our business model is to co-develop innovative products or applications with industry leaders that add value. This approach enables us to understand market dynamics and ensure the relevance and need for our products. META® technology platforms enable global brands to develop new products…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

58.9%Gross margin5
-5132.5%Operating margin5
-4999.0%Net margin6
-21.9%Revenue growth, 20235
-1815.2%Return on equity5
0.13×Debt to equity5

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Research and development84¢$19.2M
  • Interest2¢$378.7K
  • Income tax15¢$3.3M

Out of $8.0M in revenue.56 The company lost money this year.

Financial statements

Revenue789105$8.0M in 2023+1296% since 2017
0$5.0M$10.0M$15.0M2017: $570.5K$570.5K20172018: $1.3M$1.3M2018+125%2019: $902.4K$902.4K2019−30%2020: $1.1M$1.1M2020+24%2021: $4.1M$4.1M2021+264%2022: $10.2M$10.2M2022+150%2023: $8.0M$8.0M2023−22%
Gross profit789105$4.7M in 2023+1081% since 2017
0$2.0M$4.0M$6.0M$8.0M2017: $397.3K$397.3K20172018: $476.2K$476.2K2018+20%2019: $893.2K$893.2K2019+88%2020: $1.1M$1.1M2020+25%2021: $3.4M$3.4M2021+204%2022: $7.2M$7.2M2022+110%2023: $4.7M$4.7M2023−35%
Operating income9105-$408.8M in 2023+4505% since 2019
-$600.0M-$400.0M-$200.0M02019: -$8.9M-$8.9M20192020: -$10.8M-$10.8M2020+21%2021: -$38.1M-$38.1M2021+254%2022: -$83.3M-$83.3M2022+119%2023: -$408.8M-$408.8M2023+391%
Net income7891056-$398.2M in 2023+43187% since 2017
-$400.0M-$300.0M-$200.0M-$100.0M02017: -$919.9K-$919.9K20172018: -$5.8M-$5.8M2018+531%2019: -$8.4M-$8.4M2019+45%2020: -$11.6M-$11.6M2020+37%2021: -$91.0M-$91.0M2021+684%2022: -$79.1M-$79.1M2022−13%2023: -$398.2M-$398.2M2023+403%
Fiscal year2017201820192020202120222023
Revenue$570.5K7$1.3M8$902.4K9$1.1M9$4.1M10$10.2M5$8.0M5
Cost of revenue$173.2K7$806.2K8$451.3K13$188.5K13$676.0K10$3.0M10
Gross profit$397.3K7$476.2K8$893.2K9$1.1M9$3.4M10$7.2M5$4.7M5
Research and development$3.8M9$4.1M9$9.5M10$16.5M5$19.2M5
Operating expenses$41.5M10$90.4M5$413.5M5
Operating income-$8.9M9-$10.8M9-$38.1M10-$83.3M5-$408.8M5
Interest$1.1M9$1.4M9$1.1M10$174.2K5$378.7K5
Income before tax-$91.8M10-$84.9M5-$401.6M5
Income tax$07$08-$83.5K9-$193.7K9-$852.1K10-$5.8M5-$3.3M5
Net income-$919.9K7-$5.8M8-$8.4M9-$11.6M9-$91.0M10-$79.1M5-$398.2M6
Earnings per share-$0.179-$0.089-$0.3910-$24.095-$69.675
Earnings per share (diluted)-$0.179-$0.089-$0.3910-$24.095-$69.675
Shares (weighted, basic)232.9M shares103.3M shares55.8M shares5
Shares (weighted, diluted)232.9M shares103.3M shares55.8M shares5

Compare META MATERIALS INC. with another company

Corporate structure

META MATERIALS INC. sits at the top of its group. 11 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of META MATERIALS INC.

  • Thomas Gordon Welch Filed SC 13D/A on META MATERIALS INC., latest Feb 15, 2023 (2 filings since Oct 21, 2021)
  • State Street Corporation Filed SC 13G/A on META MATERIALS INC., latest Feb 3, 2023 (2 filings since Feb 10, 2022)
  • Georgios Palikaras Filed SC 13D on META MATERIALS INC., latest Oct 4, 2021
  • META MATERIALS INC. Dartmouth, Canada
    • 1315115 BC Inc. Subsidiary · British Columbia, Canada
    • 2798331 Ontario Inc. Subsidiary · Ontario, Canada
    • Medical Wireless Sensing Ltd. Subsidiary · United Kingdom
    • Meta Material Single Member S.A. Subsidiary · Greece
    • Metamaterial Exchangeco Inc. Subsidiary · Ontario, Canada
    • Metamaterial Inc. Subsidiary · Ontario, Canada
    • Metamaterial Technologies Canada Inc. Subsidiary · Canada
    • Metamaterial Technologies USA Inc. Subsidiary · Delaware, United States
    • Nanotech Security Corp. Subsidiary · British Columbia, Canada
    • Plasma App. Ltd. Subsidiary · United Kingdom

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What META MATERIALS INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$62.3M5 Dec 31, 2023$53.0M5 Dec 31, 2022+17.7%
Accumulated depreciation$43.7M5 Dec 31, 2023$10.3M5 Dec 31, 2022+325.1%
Property and equipment, net$18.6M5 Dec 31, 2023$42.7M5 Dec 31, 2022−56.4%
Operating-lease assets (leased space)$1.2M5 Dec 31, 2023$5.6M5 Dec 31, 2022−78.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$9.7M5 Dec 31, 2023$10.1M5 Dec 31, 2022−3.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$281.7M5 Dec 31, 2022$240.4M5 Dec 31, 2021+17.2%
Intangible assets, net (excluding goodwill)$18.0M5 Dec 31, 2023$56.3M5 Dec 31, 2022−68.0%
Finite-lived intangibles, gross$67.3M5 Dec 31, 2023$65.8M5 Dec 31, 2022+2.3%
Accumulated amortization$49.3M5 Dec 31, 2023$9.5M5 Dec 31, 2022+418.7%
Finite-lived intangibles, net$18.0M5 Dec 31, 2023$56.3M5 Dec 31, 2022−68.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$168.7K5 Dec 31, 2023$468.0K5 Dec 31, 2022−63.9%
Raw materials$558.8K5 Dec 31, 2023$490.1K5 Dec 31, 2022+14.0%
Work in process$45.9K5 Dec 31, 2023$51.6K5 Dec 31, 2022−11.0%
Finished goods$43.9K5 Dec 31, 2023$42.1K5 Dec 31, 2022+4.4%
Supplies$10.7K5 Dec 31, 2023$11.3K5 Dec 31, 2022−5.3%

Leadership

Who has led META MATERIALS INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Tammy L. Skalko2010–2011
  2. Thomas Lapinski2010–2014
  3. John A. Brda2015–2020
  4. Georgios Palikaras2021–2023
  5. James Macmillan Fusaro2023
  6. Uzi Sasson2023

President

  1. Thomas Lapinski2010
  2. John A. Brda2013–2020
  3. Georgios Palikaras2021–2023

Chief financial officer

  1. Roger N. Wurtele2013–2020
  2. Uzi Sasson2023
  3. Ahmed Shebl2023

Chief operating officer

  1. Willard Greer McAndrew Iii.2013–2015
  2. Uzi Sasson2023
201520202025
Board members and other officers (33)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorGeorge Palikaras named Apr 6, 2022 to Sep 19, 202354
  • Executive OfficerThomas Kallos named Jun 30, 202255
  • DirectorJack Harding named Sep 19, 202354
  • DirectorRam Ramkumar named Apr 6, 2022 to Jun 30, 202255

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1315115 BC Inc. British Columbia, Canada3
  • 2798331 Ontario Inc. Ontario, Canada3
  • Medical Wireless Sensing Ltd. London, United Kingdom3
  • Meta Material Single Member S.A. Greece3
  • Metamaterial Exchangeco Inc. Ontario, Canada3
  • Metamaterial Inc. Ontario, Canada3
  • Metamaterial Technologies Canada Inc. Federal, Canada3
  • Metamaterial Technologies USA Inc. Delaware, United States3
  • Nanotech Security Corp. British Columbia, Canada3
  • Plasma App. Ltd. Oxford, United Kingdom3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • TORCHLIGHT ENERGY RESOURCES INCMar 4, 2011 to Jun 23, 20212
  • Pole Perfect Studios, Inc.May 2, 2008 to Jan 13, 20112

Timeline

  1. Aug 14, 20248-K Listing notice or transfer56
  2. Aug 9, 20248-K Bankruptcy or receivership; Executive or director change57
  3. Aug 1, 20248-K Cybersecurity incident; Other events58
  4. Jul 16, 20248-K Completed an acquisition or sale; Other events59
  5. Jul 5, 20248-K Entered a material agreement60
  6. Jun 25, 20248-K Other events61
  7. Jun 21, 20248-K Other events62
  8. Jun 11, 20248-K Other events63
  9. May 3, 20248-K Exit or restructuring costs; Other events64
  10. Apr 19, 20248-K Shareholder vote65
  11. Apr 3, 20248-K Results of operations66
  12. Feb 21, 20248-K Entered a material agreement; Unregistered sale of shares; Other events67
  13. Nov 27, 2023New chief executive Uzi Sasson becomes CEO15
  14. Oct 18, 2023New chief executive James Macmillan Fusaro becomes CEO14
  15. Sep 29, 2021New chief executive Georgios Palikaras becomes CEO16
  16. Jun 16, 2015New chief executive John A. Brda becomes CEO17
  17. Dec 3, 2010New chief executive Thomas Lapinski becomes CEO19
  18. Jun 24, 2010New chief executive Tammy L. Skalko becomes CEO18

Calendar

When it reported results

  1. Apr 3, 2024Reported quarterly or annual results66
  2. Jan 26, 2024Reported quarterly or annual results68
  3. Jun 20, 2023Reported quarterly or annual results69
  4. Apr 14, 2023Reported quarterly or annual results70
  5. Feb 10, 2023Reported quarterly or annual results71
  6. Mar 2, 2022Reported quarterly or annual results72
  7. Nov 16, 2021Reported quarterly or annual results73

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

215 filings to the SEC since October 2021: 9 annual reports, 9 quarterly reports, 59 major events, 84 insider forms, 5 large holders, 3 private raises, 46 other. The latest 20:

  1. Aug 14, 20248-K EDGAR
  2. Aug 9, 20248-K EDGAR
  3. Aug 1, 20248-K EDGAR
  4. Jul 16, 20248-K EDGAR
  5. Jul 5, 20248-K EDGAR
  6. Jun 25, 20248-K EDGAR
  7. Jun 21, 20248-K EDGAR
  8. Jun 11, 20248-K EDGAR
  9. May 13, 202410-Q EDGAR
  10. May 3, 20248-K EDGAR
  11. Apr 29, 202410-K/A EDGAR
  12. Apr 19, 20248-K EDGAR
  13. Apr 3, 20248-K EDGAR
  14. Mar 28, 202410-K EDGAR
  15. Mar 25, 2024DEFA14A EDGAR
  16. Mar 15, 2024DEFA14A EDGAR
  17. Mar 6, 2024DEFA14A EDGAR
  18. Mar 5, 2024DEFA14A EDGAR
  19. Mar 5, 2024DEF 14A EDGAR
  20. Feb 23, 2024PRE 14A EDGAR

The 215 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 5 buys and 13 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 16, 2023Geddes NadineBuy100,000$0.23$23.0KForm 4
Mar 13, 2023RICE KENNETH L JRSee remarksSale18,454$0.63$11.6KForm 4
Mar 13, 2023Waldern JonathanChief Technology OfficerSale17,372$0.63$10.9KForm 4
Dec 7, 2022Lambert Anne Barber10% ownerSale75,000$2.23$167.2KForm 4
Aug 11, 2022Geddes NadineBuy42,000$0.96$40.3KForm 4
Jun 24, 2022Lambert Anne Barber10% ownerBuy70,000$1.29$90.3KForm 4
May 17, 2022Christilaw AllisonDirectorBuy15,000$1.67$25.1KForm 4
Mar 22, 2022Waldern JonathanChief Technology OfficerSale171,432$1.85$317.1KForm 4
Nov 30, 2021Welch Thomas Gordon10% ownerSale7,000$3.54$24.8KForm 4
Nov 29, 2021Welch Thomas Gordon10% ownerSale72,000$3.08$221.6KForm 4
Nov 24, 2021Welch Thomas Gordon10% ownerSale255,000$4.10$1.0MForm 4
Nov 24, 2021Karsbo SteenDirectorBuy18,317$3.74$68.5KForm 4
Nov 22, 2021Welch Thomas Gordon10% ownerSale17,000$4.20$71.4KForm 4
Nov 22, 2021Geddes NadineSale174,851$4.02$702.9KForm 4
Nov 19, 2021Welch Thomas Gordon10% ownerSale80,000$4.37$349.6KForm 4
Nov 19, 2021Geddes NadineSale343,436$4.20$1.4MForm 4
Nov 18, 2021Welch Thomas Gordon10% ownerSale30,000$4.30$129.0KForm 4
Nov 18, 2021Waldern JonathanChief Technology OfficerSale471,438$4.05$1.9MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$70.3M 2022–2023
Money received by yearMoney received by year, 2022–2023: $70.3M in all. Private raises (Form D) $70.3M.$0$20M$40M$60M$80M2022 · Private raises (Form D): $70.1M20222023 · Private raises (Form D): $250.0K2023
Figures by year
YearPrivate raises (Form D)Total
2023$250.0K$250.0K
2022$70.1M$70.1M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Sep 8, 2023Raised $250,000 in a private offering of equity54 Form D: $6 million offered in all Form D
  2. Jun 16, 2022Raised $50.1 million in a private offering of equity55 Form D: 1 investor so far Form D
  3. Mar 31, 2022Raised $20 million in a private offering of equity77 Form D: 2 investors so far Form D

SEC filer profile

How META MATERIALS INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMETA MATERIALS INC.1
  • CIK0001431959
  • Employer ID (EIN)74-32375811
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inNevada1
  • Fiscal year endsDecember 311
  • Industry code (SIC)3674 Semiconductors & Related Devices1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address1 Research Drive, Dartmouth, A5 B2Y 4M91
  • Phone1-902-482-57291
  • Shares outstanding6,695,536 as of May 10, 20246
  • Public float$103.8M as of Jun 30, 202378
  • On EDGAR sinceMay 2, 20081
  • Filings688 in all: 8-K (182), 4 (143), 10-Q (49), 3 (43), CORRESP (29), UPLOAD (22), 424B5 (21), 10-K (16)1
    All 47 form types

    D (16), EFFECT (15), DEF 14A (13), 424B3 (11), DEFA14A (10), 4/A (9), S-3 (9), 10-K/A (7), 10-Q/A (7), 8-K/A (7), SC 13D (7), SC 13D/A (7), SC 13G (7), SC 13G/A (7), 3/A (6), PRE 14A (5), S-1 (5), NT 10-K (4), S-1/A (4), NT 10-Q (3), S-8 (3), 425 (2), FWP (2), PRER14A (2), 25-NSE (1), 424A (1), 8-A12B (1), 8-A12G (1), CERTNAS (1), D/A (1), DEF 14C (1), DEFM14A (1), DEL AM (1), POS AM (1), PRE 14C (1), PREM14A (1), S-3/A (1), S-3MEF (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Mar 28, 2024
    Quarterly report (10-Q) May 13, 2024
    Proxy statement (DEF 14A) Mar 5, 2024
    Latest 8-K (8-K) Aug 14, 2024

Sources

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