Core Viewpoint - Oklo reported a Q2 operating loss of $28 million, primarily due to compensation, general business expenses, and financing-related professional fees, including approximately $11.4 million in non-cash stock compensation [1] Financial Performance - Q2 loss per share was $0.18, which was worse than the market expectation of a loss of $0.12 but an improvement from the previous year's loss of $0.27 [1] Strategic Initiatives - The company plans to submit the first phase of its joint license application for the Aurora power station in early Q4 and expects to begin preliminary construction activities in Q3 [1] - Oklo aims to achieve commercial operation of its first nuclear power plant by the end of 2027 or early 2028 [1] Partnerships - Oklo announced a strategic partnership with Lightbridge to explore the possibility of establishing a Lightbridge fuel manufacturing facility within Oklo's planned advanced fuel manufacturing infrastructure, which will also serve as a joint R&D center for advanced fuel [1] - The CEO emphasized the importance of building infrastructure to support the development and deployment of new nuclear energy, aligning with federal policies promoting domestic fuel independence [1]

[Business Update and Q2 2025 Financial Results](index=1&type=section&id=Business%20Update%20and%20Q2%202025%20Financial%20Results) [Management Commentary and Business Highlights](index=1&type=section&id=Management%20Commentary%20and%20Business%20Highlights) The company achieved key operational milestones in **H1 2025**, including successful materials fabrication and testing, while maintaining a strong financial position with **$97.9 million** in cash and enhanced market visibility - Key operational milestones achieved in **H1 2025** include successful co-extrusion demonstration, completion of the final experiment design review for irradiation testing, and fabrication of enriched uranium-zirconium alloy coupon samples[2](index=2&type=chunk) - The political environment is viewed as increasingly favorable, citing President Trump's nuclear energy Executive Orders supporting advanced nuclear technologies[2](index=2&type=chunk) - The company's inclusion in the **Russell 2000® and Russell 3000® Indexes** is expected to enhance visibility among institutional investors[2](index=2&type=chunk) - The company ended Q2 2025 with a strong financial position, holding **$97.9 million** in cash and cash equivalents and **$97.2 million** in working capital[3](index=3&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company's financial position strengthened in H1 2025 due to **$63.5 million** in financing activities, despite increased operational cash usage and a wider net loss driven by higher **R&D and G&A expenses** [Balance Sheet Summary](index=1&type=section&id=Balance%20Sheet%20Summary) Key Balance Sheet Figures (as of June 30, 2025) | Metric | June 30, 2025 (USD) | December 31, 2024 (USD) | | :--- | :--- | :--- | | Cash and cash equivalents | $97.9 million | $40.0 million | | Working Capital | $97.2 million | $39.9 million | | Total Assets | $99.0 million | $41.0 million | | Total Liabilities | $1.2 million | $0.4 million | | Stockholders' Equity | $97.8 million | $40.5 million | [Cash Flow Summary (H1 2025)](index=1&type=section&id=Cash%20Flow%20Summary%20(H1%202025)) Cash Flow Changes (Six Months Ended June 30) | Metric | 2025 (USD) | 2024 (USD) | | :--- | :--- | :--- | | Cash used in operating activities | ($5.6 million) | ($3.7 million) | | Cash provided by financing activities | $63.5 million | $2.2 million | - The increase in cash used in operations was primarily due to higher spending on **R&D and general and administrative expenses**[5](index=5&type=chunk) - The significant increase in cash from financing was mainly due to **$60.9 million** in net proceeds from the issuance of common stock under the at-the-market facility[5](index=5&type=chunk) [Operational Results Summary (Q2 & H1 2025)](index=2&type=section&id=Operational%20Results%20Summary%20(Q2%20%26%20H1%202025)) Q2 Operational Results Comparison | Metric | Q2 2025 (USD) | Q2 2024 (USD) | | :--- | :--- | :--- | | General and administrative expenses | $2.5 million | $1.8 million | | R&D expenses | $1.6 million | $0.9 million | | Net Loss | ($3.5 million) | ($2.4 million) | H1 Operational Results Comparison | Metric | H1 2025 (USD) | H1 2024 (USD) | | :--- | :--- | :--- | | General and administrative expenses | $6.0 million | $4.0 million | | R&D expenses | $3.3 million | $1.9 million | | Net Loss | ($8.3 million) | ($5.2 million) | [Detailed Financial Statements](index=4&type=section&id=Detailed%20Financial%20Statements) Unaudited financial statements detail the company's financial position as of June 30, 2025, showing increased cash and equity from financing activities, alongside higher operating expenses and net loss [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Comparison (June 30, 2025 vs Dec 31, 2024) | Account | June 30, 2025 (USD) | December 31, 2024 (USD) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $97,901,357 | $39,990,827 | | Total Current Assets | $98,362,270 | $40,315,205 | | Total Assets | $98,968,970 | $40,952,875 | | **Liabilities & Equity** | | | | Total Current Liabilities | $1,194,377 | $424,585 | | Total Stockholders' Equity | $97,774,593 | $40,528,290 | | Total Liabilities and Stockholders' Equity | $98,968,970 | $40,952,875 | [Unaudited Condensed Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations (Q2 & H1 2025 vs 2024) | Metric | Q2 2025 (USD) | Q2 2024 (USD) | H1 2025 (USD) | H1 2024 (USD) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Expenses | $4,142,501 | $2,702,225 | $9,288,424 | $5,883,793 | | Operating Loss | ($4,142,501) | ($2,702,225) | ($9,288,424) | ($5,883,793) | | Net Loss | ($3,520,434) | ($2,374,634) | ($8,291,446) | ($5,194,218) | | Net Loss Per Share (Basic & Diluted) | ($0.16) | ($0.17) | ($0.40) | ($0.38) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Statement of Cash Flows (Six Months Ended June 30) | Metric | 2025 (USD) | 2024 (USD) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($5,605,030) | ($3,725,447) | | Net Cash Used in Investing Activities | ($6,116) | $0 | | Net Cash Provided by Financing Activities | $63,521,676 | $2,194,041 | | Net Increase (Decrease) in Cash | $57,910,530 | ($1,531,406) | | Cash and Cash Equivalents, End of Period | $97,901,357 | $27,067,039 | [Corporate Information](index=2&type=section&id=Corporate%20Information) This section outlines Lightbridge's core business of developing advanced nuclear fuel technology, provides conference call details, and includes standard forward-looking statement disclaimers [Company Overview](index=3&type=section&id=Company%20Overview) - Lightbridge is developing **Lightbridge Fuel™**, a proprietary next-generation nuclear fuel technology for existing light water reactors and new small modular reactors (SMRs)[13](index=13&type=chunk) - The company has long-term framework agreements with **Battelle Energy Alliance**, the operating contractor for **Idaho National Laboratory (INL)**, and has received multiple awards from the **DOE's GAIN program**[14](index=14&type=chunk) [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) - A conference call to discuss financial results and provide a fuel development update is scheduled for **Tuesday, August 12, at 4:00 p.m. ET**[9](index=9&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) - The report contains forward-looking statements based on current expectations that involve **significant risks and uncertainties**. Readers are advised to consult the company's **SEC filings** for a full description of risks[16](index=16&type=chunk)[17](index=17&type=chunk)

Core Viewpoint - Lightbridge Corporation and Oklo Inc. have announced a strategic collaboration to explore co-locating a fuel fabrication facility, aiming to accelerate the commercialization of advanced nuclear fuels and enhance energy security in the U.S. [1][2][4] Group 1: Collaboration Details - The collaboration is formalized under a Memorandum of Understanding (MOU) signed earlier in 2025, focusing on the feasibility of commercial-scale fuel fabrication within Oklo's planned manufacturing infrastructure [2] - The initiative includes joint research and development efforts, particularly in manufacturing fuel from repurposed plutonium sourced from legacy materials [2][4] - The proposed facility will support advanced fuel production for both fast reactors and light water reactors, reinforcing the commitment to U.S. leadership in nuclear fuel manufacturing [4] Group 2: Government Support and Policy Alignment - This announcement follows executive orders from the White House in May 2025, which prioritize the acceleration of U.S. nuclear energy deployment and include directives for processing surplus plutonium for advanced reactor fuel [3] - The collaboration aligns with emerging federal policies aimed at strengthening domestic energy security and supporting advanced reactor deployment [5][6] Group 3: Company Profiles - Oklo Inc. is focused on developing fast fission power plants and establishing a domestic supply chain for critical radioisotopes, with a history of regulatory achievements in advanced fission technology [6] - Lightbridge Corporation is developing advanced nuclear fuel technology, including Lightbridge Fuel™, which enhances reactor safety and economics while promoting energy security [7][8]

Core Insights - Lightbridge Corporation reported significant advancements in its nuclear fuel technology during the first half of 2025, achieving critical milestones that enhance its future prospects [2][12] - The political climate is increasingly supportive of nuclear energy, bolstered by recent executive orders from President Trump aimed at promoting advanced nuclear technologies [2] - The company has a robust financial position with $97.9 million in cash and cash equivalents and $97.2 million in working capital as of June 30, 2025, marking a substantial increase from the previous year [3][4] Financial Highlights - Cash and cash equivalents increased by $57.9 million from $40.0 million at December 31, 2024, to $97.9 million as of June 30, 2025 [4] - Working capital rose from $39.9 million at December 31, 2024, to $97.2 million at June 30, 2025 [3] - Total assets were reported at $99.0 million, with total liabilities at $1.2 million, resulting in stockholders' equity of $97.8 million [4][16] Operational Summary - General and administrative expenses for Q2 2025 were $2.5 million, up from $1.8 million in Q2 2024, primarily due to increased professional fees and stock-based compensation [5][11] - Research and development expenses for Q2 2025 totaled $1.6 million, compared to $0.9 million in Q2 2024, reflecting heightened R&D activities [11] - The net loss for Q2 2025 was $3.5 million, compared to a net loss of $2.4 million in Q2 2024 [11][18] Cash Flow Summary - Cash used in operating activities for the first half of 2025 was $5.6 million, an increase from $3.7 million in the same period of 2024, driven by higher R&D and administrative expenses [6][19] - Cash provided by financing activities surged to $63.5 million in the first half of 2025, compared to $2.2 million in the same period of 2024, largely due to common stock issuance [6][19] Strategic Partnerships and Developments - Lightbridge has established long-term agreements with Battelle Energy Alliance LLC to support the development of its nuclear fuel technology [12] - The company is involved in university-led studies through the DOE Nuclear Energy University Program, enhancing its research capabilities [12]

Core Insights - Lightbridge Corporation will announce its financial results for Q2 FY2025 on August 11, 2025, after market close, followed by a conference call on August 12, 2025, at 4:00 p.m. ET to discuss these results and fuel development activities [1][2]. Company Overview - Lightbridge Corporation (NASDAQ: LTBR) focuses on advanced nuclear fuel technology aimed at providing abundant, zero-emission clean energy and enhancing global energy security [4]. - The company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, which improves reactor safety, economics, and proliferation resistance [4]. - Lightbridge is also working on Lightbridge Fuel for new small modular reactors (SMRs), which will offer similar benefits while enabling load-following with renewables on a zero-carbon electric grid [4]. Strategic Partnerships and Research - Lightbridge has established two long-term framework agreements with Battelle Energy Alliance LLC, the contractor for the U.S. Department of Energy's Idaho National Laboratory, which is the leading nuclear energy research and development laboratory in the U.S. [5]. - The company has received support from the DOE's Gateway for Accelerated Innovation in Nuclear program for the development of Lightbridge Fuel over the past several years [5]. - Lightbridge is involved in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University [5]. Market Position - Lightbridge holds an extensive worldwide patent portfolio that supports its innovative fuel technology [5]. - The company is included in the Russell 2000® Index and the Russell 3000® Index, indicating its significant presence in the market [5].

Core Insights - Lightbridge Corporation has successfully fabricated coupon samples using enriched uranium-zirconium alloy, marking a significant advancement in the development of its next-generation Lightbridge Fuel™ product [1][4][10] Group 1: Achievement Highlights - Successful extrusion of enriched uranium-zirconium alloy samples that align with the intended fuel material composition for future commercial products [4] - Utilization of a proven fabrication process previously demonstrated at the Idaho National Laboratory (INL) for the extrusion of depleted uranium samples [4] - Collaboration with INL for irradiation testing of the enriched coupon samples, which will be conducted as part of a Cooperative Research and Development Agreement (CRADA) [4][10] Group 2: Testing and Regulatory Support - The irradiation testing program aims to generate critical performance data for Lightbridge's advanced fuel, which will support regulatory licensing and commercialization efforts [4][10] - Post-irradiation examination activities will be detailed in a future Project Task Statement, further contributing to the regulatory approval process [4][10] Group 3: Company Background - Lightbridge Corporation focuses on developing advanced nuclear fuel technology to provide clean energy and enhance energy security globally [12] - The company is developing Lightbridge Fuel™ for existing light water reactors and small modular reactors (SMRs), aiming to improve reactor safety and economics [12][13]

Core Insights - Lightbridge Corporation is actively participating in several upcoming industry conferences to discuss its advanced nuclear fuel technology and strategic initiatives [1][2][3] Company Activities - The President and CEO of Lightbridge, Seth Grae, will engage in a virtual fireside chat on July 15, 2025, during the H.C. Wainwright Powering the Future Conference, focusing on recent developments in Lightbridge Fuel™ technology and the nuclear energy sector outlook [1] - Lightbridge will also hold one-on-one meetings with institutional investors at the 14th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech 1x1 Conference on August 18, 2025 [2] - The Fuel Development team from Lightbridge will participate in the TopFuel 2025 Conference from October 5–9, 2025, in Nashville, Tennessee, which is centered on nuclear reactor fuel performance [3] Company Overview - Lightbridge Corporation is dedicated to developing advanced nuclear fuel technology aimed at providing abundant, zero-emission clean energy and enhancing energy security globally [5] - The company is working on Lightbridge Fuel™, a next-generation nuclear fuel technology designed for existing light water reactors and pressurized heavy water reactors, which improves reactor safety, economics, and proliferation resistance [5] - Lightbridge is also developing fuel for new small modular reactors (SMRs) to support load-following with renewables on a zero-carbon electric grid [5] Strategic Partnerships - Lightbridge has established two long-term framework agreements with Battelle Energy Alliance LLC, the contractor for the U.S. Department of Energy's Idaho National Laboratory, to support the development of Lightbridge Fuel [6] - The company has received awards from the DOE's Gateway for Accelerated Innovation in Nuclear program to further its fuel technology development [6] - Lightbridge is involved in university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University [6]

Core Insights - Lightbridge Corporation is participating in the Nuclear Energy Summit on June 27, 2025, in Zurich, Switzerland, with CEO Seth Grae as a panelist [1][2][3] Group 1: Company Overview - Lightbridge Corporation (NASDAQ: LTBR) focuses on advanced nuclear fuel technology aimed at providing clean, zero-emission energy and enhancing energy security globally [4] - The company is developing Lightbridge Fuel™, a next-generation nuclear fuel technology that improves reactor safety, economics, and proliferation resistance for existing light water reactors and small modular reactors (SMRs) [4] Group 2: Industry Engagement - The Nuclear Energy Summit, hosted by Arnova Capital AG, gathers industry leaders, policymakers, and investors to discuss advancements in nuclear energy technology, uranium production, and investment opportunities [2] - Seth Grae will participate in two panels: "The Fuel: Uranium Production and Refinement" and "The Future of Nuclear Energy," indicating the company's active engagement in industry discussions [3] Group 3: Strategic Partnerships - Lightbridge has established long-term agreements with Battelle Energy Alliance LLC, supporting the development of Lightbridge Fuel through the U.S. Department of Energy's initiatives [5] - The company is involved in university-led studies at Massachusetts Institute of Technology and Texas A&M University, furthering its research and development efforts [5]

Core Insights - Lightbridge Corporation is set to benefit from a new testing method called Fission Accelerated Steady-state Test (FAST) developed by Idaho National Laboratory, which will expedite the irradiation testing of advanced nuclear fuel samples [1][3] Group 1: Testing Method and Benefits - The FAST method utilizes increased enrichment levels to accelerate the irradiation testing process in the Advanced Test Reactor (ATR) [1][2] - Lightbridge's planned irradiation testing program aims to generate critical performance data for its advanced fuel, which is essential for regulatory licensing with the U.S. Nuclear Regulatory Commission (NRC) [3] - The company anticipates that the data obtained will facilitate expedited licensing under the ADVANCE Act and assist utilities in analyzing Lightbridge Fuel for commercial nuclear power plants [3] Group 2: Collaboration and Support - Lightbridge expresses gratitude to the U.S. Department of Energy (DOE) for providing Highly Enriched Uranium (HEU) and enabling the testing of fuel material samples using the FAST method [4] - The work is conducted under a Cooperative Research and Development Agreement (CRADA) between Lightbridge and Idaho National Laboratory, highlighting the importance of public-private partnerships in advancing clean energy technologies [4] Group 3: Company Overview - Lightbridge Corporation focuses on developing advanced nuclear fuel technology aimed at delivering zero-emission, clean energy and enhancing energy security globally [6] - The company is developing Lightbridge Fuel™, a next-generation nuclear fuel technology that improves reactor safety, economics, and proliferation resistance [6] - Lightbridge has entered into long-term agreements with Battelle Energy Alliance, the contractor for Idaho National Laboratory, and has received support from the DOE's Gateway for Accelerated Innovation in Nuclear program [7]

Core Viewpoint - Lightbridge Corporation has successfully completed the final design review for its upcoming irradiation experiment, a significant milestone in the development of its next-generation Lightbridge Fuel™ product, in collaboration with the Idaho National Laboratory (INL) [1][3]. Group 1: Milestones and Achievements - The completion of the final design review is a critical step that allows Lightbridge to proceed with the irradiation testing in INL's Advanced Test Reactor (ATR) [1][7]. - The experiment parameters, including neutronics, thermal, and mechanical aspects, have been independently reviewed and approved by INL scientists, ensuring safe and effective operation [7]. - The irradiation testing program aims to generate essential performance data for Lightbridge's advanced fuel, which will support regulatory licensing efforts for commercial deployment [7]. Group 2: Collaboration and Support - The collaboration between Lightbridge and INL reflects a shared commitment to advancing nuclear technology, with the successful completion of the design review being a key aspect of this partnership [3]. - Lightbridge has entered into long-term framework agreements with Battelle Energy Alliance, the contractor for INL, to support the development of its fuel technology [6]. - The U.S. Department of Energy has facilitated access to the Advanced Test Reactor, which is crucial for Lightbridge's in-reactor testing [3]. Group 3: Company Overview - Lightbridge Corporation focuses on developing advanced nuclear fuel technology aimed at providing abundant, zero-emission clean energy and enhancing energy security [5]. - The company is working on Lightbridge Fuel™, a proprietary technology designed for existing light water reactors and new small modular reactors (SMRs), improving reactor safety and economics [5]. - Lightbridge is included in the Russell Microcap® Index and has a worldwide patent portfolio supporting its innovative fuel technology [8].