Operator
Good afternoon, and welcome to the Nanoco Group plc Investor Presentation. [Operator Instructions] Before we begin, I’d like to submit the following poll. I’d now like to hand you over to the management team from Nanoco Group plc. Dmitry, good afternoon, sir.
Dmitry Shashkov
CEO & Director
Good afternoon, good morning. Dmitry Shashkov, CEO of the company. Liam?
Liam Gray
CFO, Company Secretary & Director
I’m Liam Gray, CFO.
Dmitry Shashkov
CEO & Director
Okay. Welcome to our annual results presentation.
I will take you through the operational highlights, and I pass it off to Liam to cover the financials, after which we will take any questions which you may have. My main topics will be around the revised Nanoco strategy, which we’ve been developing throughout the year, the progress along the strategy, especially in the area of image sensor, which was the main focus. And in the end, I will also give you an update on our strategic options review known as the CDX process.
With that, let me proceed. 2025 was a big year for Nanoco. We accomplished a lot in a short period of time. As we reported earlier to the shareholders, we started the year by significantly adjusting our cost base. In the end, we were able to reduce our cash burn by approximately 30%, extending our cash runway and giving us opportunity to reinvest in the business development. Along the way, we also changed our organization following the changes in the Board composition earlier in the previous year, we proceeded to build a global commercial organization, which is now operational on 3 continents. And the early part of the year was strongly focused around redesigning our
