[PART I - FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This section presents unaudited financial statements for Q1 2025, showing increased assets and equity from financing activities despite ongoing net losses [Item 1. Condensed Consolidated Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20%28unaudited%29) This section presents unaudited financial statements for the quarter ended March 31, 2025, highlighting increased assets and equity driven by financing activities despite ongoing net losses Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $56,930 | $39,991 | | Total Assets | $58,288 | $40,953 | | Total Current Liabilities | $966 | $425 | | Total Stockholders' Equity | $57,321 | $40,528 | Condensed Consolidated Statements of Operations (in thousands) | Account | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Revenue | $0 | $0 | | General and administrative | $3,480 | $2,158 | | Research and development | $1,666 | $1,024 | | **Operating Loss** | **($5,146)** | **($3,182)** | | **Net Loss** | **($4,771)** | **($2,820)** | | Net Loss Per Share | ($0.24) | ($0.21) | Condensed Consolidated Statements of Cash Flows (in thousands) | Account | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($3,300) | ($1,878) | | Net Cash Provided by Financing Activities | $20,239 | $1,222 | | **Net Increase (Decrease) in Cash** | **$16,939** | **($656)** | - In Q1 2025, the company sold 2,605,619 shares under its At-the-Market (ATM) offering, resulting in net proceeds of **$20.2 million**, compared to 427,300 shares sold for **$1.2 million** in net proceeds in Q1 2024[55](index=55&type=chunk) - Subsequent to the quarter end, from April 1 to May 12, 2025, the company sold an additional 677,300 shares under its ATM, raising net proceeds of approximately **$5.0 million**[85](index=85&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, liquidity, and strategic developments, focusing on Lightbridge Fuel™ and future funding needs [Overview of Our Business and Development of Lightbridge Fuel™](index=16&type=section&id=Overview%20of%20Our%20Business%20and%20Development%20of%20Lightbridge%20Fuel%E2%84%A2) Lightbridge develops advanced nuclear fuel, collaborating on R&D to enhance reactor economics and safety - Signed a memorandum of understanding (MOU) with Oklo, Inc. in January 2025 to evaluate co-locating a fuel fabrication facility and explore collaboration on reprocessing spent fuel[106](index=106&type=chunk) - The total estimated cost for work with Battelle Energy Alliance (BEA) at INL under both CRADA and SPPA agreements is now approximately **$6.8 million**[114](index=114&type=chunk) - INL has indicated that due to resource and manufacturing constraints, it may not meet the company's preferred project timeline, and total project costs will exceed the current budget[115](index=115&type=chunk) - The company expects to begin demonstrating lead test assemblies (LTAs) in commercial reactors in the **2030s** and anticipates receiving initial purchase orders **15-20 years** from now[125](index=125&type=chunk) [Operations Review](index=19&type=section&id=Operations%20Review) Q1 2025 net loss increased 71% to $4.8 million, driven by a 63% rise in total operating expenses Comparison of Operating Results (in millions) | Expense Category | Q1 2025 | Q1 2024 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | General and administrative | $3.5 | $2.2 | $1.3 | 59% | | Research and development | $1.7 | $1.0 | $0.7 | 70% | | **Total Operating Expenses** | **$5.2** | **$3.2** | **$2.0** | **63%** | | **Net Loss** | **($4.8)** | **($2.8)** | **($2.0)** | **71%** | - The **$1.3 million** increase in G&A expenses was primarily due to a **$0.7 million** increase in stock-based compensation (including **$0.5 million** for accelerated vesting for a former employee), a **$0.4 million** increase in professional fees, and a **$0.2 million** increase in employee compensation[131](index=131&type=chunk)[132](index=132&type=chunk) - The **$0.7 million** increase in R&D expenses was driven by a **$0.4 million** increase in INL project labor costs and a **$0.6 million** increase in allocated employee compensation and stock-based compensation, partially offset by the completion of two R&D studies in 2024[134](index=134&type=chunk) - The company anticipates investing approximately **$17.0 million** in R&D for the full year 2025[135](index=135&type=chunk) [Liquidity, Capital Resources, and Financial Position](index=20&type=section&id=Liquidity%2C%20Capital%20Resources%2C%20and%20Financial%20Position) Cash increased to $56.9 million from ATM offerings, sufficient for 12 months, though significant future funding is required for commercialization - Cash and cash equivalents increased by **$16.9 million** during the quarter to **$56.9 million** at March 31, 2025[139](index=139&type=chunk) - The company raised net proceeds of **$20.2 million** from its ATM offering in Q1 2025 and believes current cash is sufficient for the next **12 months**[139](index=139&type=chunk)[138](index=138&type=chunk) - Total R&D and capital expenditure investment to reach commercial deployment is estimated to be in the range of **$200 million to $300 million** over the next **10-15 years**[141](index=141&type=chunk) - Projected total expenditures for the full year 2025 are approximately **$25.0 million**, with R&D expenses expected to increase over the next **12 months**[144](index=144&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=22&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a "smaller reporting company" and is therefore not required to provide this information - As a "smaller reporting company," the Company is not required to provide quantitative and qualitative disclosures about market risk[156](index=156&type=chunk) [Item 4. Controls and Procedures](index=22&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls - Based on an evaluation by management, the CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[160](index=160&type=chunk) - There were no changes in the company's internal control over financial reporting during Q1 2025 that have materially affected, or are reasonably likely to materially affect, its internal controls[161](index=161&type=chunk) [PART II - OTHER INFORMATION](index=23&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This section provides additional information on legal proceedings, risk factors, equity sales, and filed exhibits [Item 1. Legal Proceedings](index=23&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently aware of any legal proceedings that would have a material adverse effect on its business, financial condition, or results of operations - The company is not currently aware of any legal proceedings or claims that are expected to have a material adverse effect on its business[162](index=162&type=chunk) [Item 1A. Risk Factors](index=23&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes have been made to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024[163](index=163&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=23&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - None reported for the period[164](index=164&type=chunk) [Item 5. Other Information](index=23&type=section&id=Item%205.%20Other%20Information) This section discloses the adoption of Rule 10b5-1 trading plans by several directors and the Chief Financial Officer during the first quarter of 2025 Rule 10b5-1 Trading Plan Adoptions in Q1 2025 | Name | Title | Date Adopted | Aggregate of Securities to be Sold | | :--- | :--- | :--- | :--- | | Jesse Funches | Director | 1/9/2025 | 6,250 | | Mark Tobin | Director | 1/13/2025 | 6,000 | | Sherri Goodman | Director | 1/24/2025 | 7,000 | | Larry Goldman | CFO | 3/7/2025 | Indeterminable (covers 140,349 shares) | [Item 6. Exhibits](index=24&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the 10-Q report, including amendments to incorporation articles, modifications to R&D agreements with Battelle Energy Alliance, and various certification documents - Filed exhibits include modifications to project task statements under the CRADA and SPPA agreements with Battelle Energy Alliance, LLC[169](index=169&type=chunk) - Other filed exhibits include the Certificate of Designation and Withdrawal of Series X Preferred Stock, amended Articles of Incorporation, and the Form of Performance-Based Restricted Stock Award Agreement[169](index=169&type=chunk) [Signatures](index=25&type=section&id=SIGNATURES) The report is duly signed by the President, Chief Executive Officer, and Director, Seth Grae, and the Chief Financial Officer, Larry Goldman, on May 12, 2025 - The report was signed on May 12, 2025, by Seth Grae (CEO) and Larry Goldman (CFO)[175](index=175&type=chunk)

Financial Performance - Net loss for the first quarter of 2025 was $4.8 million, compared to a net loss of $2.8 million for the same period in 2024[15] - Cash used in operating activities was $3.3 million for Q1 2025, an increase of $1.4 million compared to $1.9 million in Q1 2024[7] - General and administrative expenses amounted to $3.5 million for Q1 2025, compared to $2.2 million in Q1 2024[6] Assets and Liabilities - Total assets were $58.3 million, while total liabilities were $1.0 million at March 31, 2025[5] - Working capital increased to $56.5 million as of March 31, 2025, up from $39.9 million at December 31, 2024[3] - Cash and cash equivalents rose to $56.9 million, reflecting an increase of $16.9 million compared to $40.0 million at December 31, 2024[4] Research and Development - Research and development expenses increased to $1.7 million for Q1 2025, up from $1.0 million in Q1 2024, primarily due to higher project labor costs[15] Financing Activities - Cash provided by financing activities surged to $20.2 million in Q1 2025, compared to $1.2 million in Q1 2024, mainly due to net proceeds from common stock issuance[7] Strategic Initiatives - Lightbridge Corporation is positioned to support the U.S. goal of tripling nuclear power capacity globally by 2050, potentially increasing nuclear's share of U.S. electricity from 19% to over 50%[2] - The company has established a memorandum of understanding with Oklo to explore synergies in fuel fabrication and recycling of spent uranium-zirconium fuel[2]

Core Insights - Lightbridge Corporation reported significant advancements in its fuel development program, including a successful co-extrusion demonstration of a depleted uranium-zirconium alloy coupon sample, which is crucial for future production of enriched uranium samples for testing [2] - The company is strategically positioned to meet the growing global demand for reliable energy, particularly in the context of decarbonization and AI technologies, with its Lightbridge Fuel™ technology [2] - Lightbridge aims to support the U.S. commitment to increase nuclear power capacity, potentially raising its share of U.S. electricity from 19% to over 50% by 2050 [2] Financial Highlights - Working capital increased to $56.5 million as of March 31, 2025, from $39.9 million at December 31, 2024 [3] - Cash and cash equivalents rose to $56.9 million, up from $40.0 million at the end of 2024, marking an increase of $16.9 million [4] - Total assets were reported at $58.3 million, with total liabilities at $1.0 million, resulting in stockholders' equity of $57.3 million as of March 31, 2025 [4] Cash Flow Summary - Cash used in operating activities for Q1 2025 was $3.3 million, an increase of $1.4 million compared to $1.9 million in Q1 2024, primarily due to higher R&D and administrative expenses [6] - Cash provided by financing activities surged to $20.2 million, up from $1.2 million in Q1 2024, mainly due to increased net proceeds from common stock issuance [6] Operating Expenses - General and administrative expenses rose to $3.5 million in Q1 2025 from $2.2 million in Q1 2024, driven by higher employee compensation and consulting fees [7] - Total R&D expenses increased to $1.7 million in Q1 2025 from $1.0 million in Q1 2024, attributed to higher project labor costs and employee compensation [8] Net Loss - The net loss for Q1 2025 was $4.8 million, compared to a net loss of $2.8 million in Q1 2024, reflecting increased operating expenses [15][19]

Core Viewpoint - Lightbridge Corporation has announced the appointment of Dr. Andrey Mushakov to the Board of Directors of the U.S. Nuclear Industry Council (USNIC), which is expected to enhance the company's collaboration with key stakeholders in advancing nuclear technology innovation [1][2][3] Company Overview - Lightbridge Corporation (NASDAQ: LTBR) focuses on developing advanced nuclear fuel technology aimed at delivering abundant, zero-emission, clean energy and enhancing global energy security [5] - The company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology designed for existing light water reactors and pressurized heavy water reactors, which significantly improves reactor safety, economics, and proliferation resistance [5] - Lightbridge is also working on Lightbridge Fuel for new small modular reactors (SMRs) to provide similar benefits while enabling load-following with renewables on a zero-carbon electric grid [5] Industry Context - The U.S. Nuclear Industry Council (USNIC) serves as the leading business consortium advocate for nuclear energy, representing approximately 80 companies involved in nuclear innovation and supply chain development [4] - USNIC's initiatives include educational programs, industry insights, and market intelligence to support the success of the American nuclear industry in both domestic and global markets [4] Strategic Collaborations - Lightbridge has entered into long-term framework agreements with Battelle Energy Alliance LLC, the operating contractor for the Idaho National Laboratory, which is the U.S.'s primary nuclear energy research and development facility [6] - The company has received support from the Department of Energy's Gateway for Accelerated Innovation in Nuclear program for the development of Lightbridge Fuel [6] - Lightbridge is participating in university-led studies through the DOE Nuclear Energy University Program at prestigious institutions such as the Massachusetts Institute of Technology and Texas A&M University [6]

Core Viewpoint - Lightbridge Corporation is set to announce its financial results for Q1 FY 2025 on May 12, 2025, and will host a conference call to discuss these results and updates on fuel development activities [1]. Group 1: Financial Results Announcement - The financial results for the first quarter of fiscal year 2025 will be announced before the market opens on May 12, 2025 [1]. - A conference call will take place on the same day at 4:00 p.m. ET, led by the President and CEO, Seth Grae, with other executives available for questions [2]. Group 2: Company Overview - Lightbridge Corporation focuses on developing advanced nuclear fuel technology aimed at providing abundant, zero-emission clean energy and enhancing energy security globally [4]. - The company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology designed for existing light water reactors and pressurized heavy water reactors, which improves reactor safety, economics, and proliferation resistance [4]. Group 3: 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 and is involved in university-led studies at MIT and Texas A&M University [5].

Core Insights - Lightbridge Corporation emphasizes the growing importance of nuclear energy in meeting global power demands, particularly due to the reliability of nuclear power compared to renewable sources like solar and wind [2] - The company is focused on developing innovative fuel technology that can enhance the economic viability of nuclear power plants and increase their output [2][4] - The U.S. aims to triple its nuclear power capacity by 2050, potentially increasing nuclear's share of electricity from 19% to over 50% [2] Company Overview - Lightbridge Corporation is dedicated to developing advanced nuclear fuel technology that provides abundant, zero-emission, clean energy and enhances energy security [4] - The company is working on Lightbridge Fuel™, a next-generation nuclear fuel technology designed for existing and new reactors, improving safety, economics, and proliferation resistance [4] - Lightbridge has established long-term agreements with Battelle Energy Alliance and is involved in university-led studies to support its fuel technology development [5]

Nuclear Fuel Development - Lightbridge Corporation is developing next-generation nuclear fuel that could improve the economics and safety of nuclear power plants, aiming to meet the growing global energy and climate needs[21]. - The company projects that its metallic fuel can provide a potential power uprate of up to 30% in new-build pressurized water reactors (PWRs) and 17% or more in existing PWRs[32][34]. - Lightbridge Fuel™ is expected to operate at lower temperatures than conventional nuclear fuel, enhancing safety margins during off-normal events and reducing the risk of hydrogen gas generation in loss-of-coolant accidents[40][42]. - Lightbridge aims to address the increasing demand for electricity production by enabling longer operating cycles and higher reactor power outputs for current and future reactor fleets[28]. - Lightbridge Fuel™ can operate in various water-cooled commercial power reactors, including pressurized water reactors and CANDU reactors[44]. - The feasibility study indicates that Lightbridge Fuel™ can double the discharged burnup in CANDU reactors at U-235 enrichment levels of less than 3% compared to conventional uranium dioxide fuel[57]. - The company anticipates beginning demonstration of lead test rods in commercial reactors in the 2030s, with initial fuel reload orders expected 15-20 years from now[65]. - The company has successfully demonstrated the extrusion of unclad cylindrical rods made of depleted uranium and zirconium alloy[50]. - The company plans to conduct loop irradiation testing of metallic fuel samples in the ATR at INL to confirm fuel performance under various reactor conditions[74]. - Future milestones for Lightbridge Fuel™ development include irradiating nuclear material samples and conducting post-irradiation examinations over the next 2-3 years[211]. Market Opportunities and Economic Impact - The global nuclear power industry, which provided approximately 4% of total energy consumption and 9% of global electricity generation in 2023, represents a substantial market opportunity for Lightbridge[29]. - The company believes that integrating nuclear power can enhance operational efficiency and energy security for data centers and other energy-intensive industries[23]. - The company aims to extend the fuel cycle length from 18 to 24 months in existing large PWRs using its Lightbridge Fuel™ technology[82]. - The company anticipates needing to raise several hundred million dollars over the next 10-15 years to support R&D activities and operations[100]. - Production costs for the nuclear fuel are estimated to be between $5,000 to $10,000 per kilogram, with potential future government-funded R&D programs required to lower costs[123]. Research and Development Collaborations - The company has built a significant portfolio of patents and is conducting R&D activities in collaboration with the U.S. Department of Energy's national laboratories[25]. - Lightbridge has received $1 million from the DOE's Nuclear Energy University Program for a study on the performance of Lightbridge Fuel™ in small modular reactors[58]. - The company has entered into agreements with Battelle Energy Alliance to support the development of Lightbridge Fuel™, with an initial duration of seven years[198]. - The initial phase of work under the agreements will involve casting and extrusion of fuel material samples for irradiation testing, aimed at generating performance data for regulatory licensing[199]. - The Company engaged RATEN ICN in Romania for a feasibility study of Lightbridge Fuel™ for CANDU reactors, with a total fee of approximately $0.2 million paid for the study[206][207]. Financial Challenges and Funding Needs - The company has approximately $40.0 million in cash and cash equivalents as of December 31, 2024, with an accumulated deficit of $164.2 million[99]. - The company has experienced substantial and recurring losses from operations, indicating ongoing financial challenges as it develops its nuclear fuel technology[99]. - The company is dependent on significant U.S. government funding and political support for nuclear power to complete fuel development efforts and commercialize nuclear fuel technology[104]. - The projected timeline for the metallic fuel development program is estimated to take 15-20 years and cost several hundred million U.S. dollars before securing the initial commercial order[106]. - The company may face significant delays and cost overruns due to uncertainties in R&D funding levels and regulatory licensing timelines[106]. Regulatory and Market Risks - The regulatory licensing process for the company’s nuclear fuels may be delayed and made more costly due to differences from currently licensed fuels[124]. - Successful execution of the business model is dependent on public support for nuclear power, which has faced increased opposition since the Fukushima accident in 2011[125]. - The company may face increased competition from renewable energy sources due to government subsidies, which could affect customer demand for nuclear products[131]. - The company’s nuclear fuel technology has not been tested in existing commercial reactors, leading to uncertainty in performance and market acceptance[116]. - Competitors developing new nuclear fuel designs could limit the company's market opportunities and commercialization potential[136]. Cybersecurity and Operational Risks - The Audit Committee of the Board of Directors conducts an annual review of the company's cybersecurity posture and risk management strategies[179]. - The company has established an incident response plan to address potential cybersecurity incidents, including engaging third-party experts and law enforcement as necessary[177]. - Cybersecurity incidents could disrupt operations and compromise confidential information, negatively impacting financial results[140]. - Labor shortages and supply chain disruptions are expected to negatively impact R&D timelines and financial results due to high material and equipment prices[129]. Intellectual Property and Competitive Landscape - The company holds 11 U.S. patents and more than 146 foreign patents, with one new patent received in 2024 and 22 pending applications[89]. - Intellectual property rights are crucial for the company's technology, and failure to maintain these rights could negatively impact business and financial condition[149]. - Technological advancements by competitors may render the company's fuel technologies obsolete, affecting market share and sales[144]. Shareholder and Management Considerations - The company has identified material weaknesses in internal controls over financial reporting, which could lead to inaccuracies in financial statements[157]. - As of December 31, 2024, the company remediated a previously identified material weakness in internal controls[159]. - The company has 3.1 million authorized but unissued common stock shares as of February 27, 2025, with a proposal to increase authorized shares to 100 million[162]. - The issuance of preferred stock could create different interests between preferred and common stockholders, potentially diluting common stock value[163]. - Shareholder activism may incur significant expenses and divert management's attention, potentially impacting stock price and relationships with employees[167].

Lightbridge Corporation (NASDAQ:LTBR) Q4 2024 Earnings Conference Call February 27, 2025 10:00 AM ET Company Participants Matthew Abenante - Director of Investor Relations Seth Grae - Chief Executive Officer Andrey Mushakov - Executive Vice President, Nuclear Operations Scott Holcombe - Vice President, Engineering Larry Goldman - Chief Financial Officer Sherrie Holloway - Controller Conference Call Participants Operator Thank you for standing by, and welcome to the Lightbridge Corporation business update an ...

Financial Performance - Lightbridge Corporation reported a net loss of $11.8 million for the fiscal year ended December 31, 2024, compared to a net loss of $7.9 million for the previous year, representing a 49% increase in losses[8]. - The net loss for the year ended December 31, 2024, was $11,787,066, compared to a net loss of $7,908,646 in 2023, representing an increase in losses of approximately 49%[24]. - Net cash used in operating activities increased to $9,493,696 in 2024 from $6,484,733 in 2023, reflecting a rise of about 46%[24]. Cash and Liquidity - Cash and cash equivalents increased to $40.0 million at December 31, 2024, up from $28.6 million at the end of 2023, marking an increase of $11.4 million[4]. - Cash and cash equivalents at the end of 2024 were $39,990,827, up from $28,598,445 at the end of 2023, indicating an increase of about 40%[24]. - Working capital improved to $39.9 million at December 31, 2024, compared to $28.3 million at the end of 2023, indicating a 41% increase[3]. Research and Development - Research and development expenses rose to $4.6 million in 2024, compared to $1.9 million in 2023, reflecting a 142% increase due to heightened R&D activities related to Lightbridge Fuel™[11]. - Lightbridge anticipates investing approximately $17 million in capital and operating expenditures for R&D in 2025[11]. - The company successfully co-extruded a sample of depleted uranium and zirconium alloy with nuclear-grade zirconium cladding, demonstrating advancements in its fuel technology[2]. - Lightbridge Fuel™ is designed to enhance heat transfer capabilities, resulting in lower operating temperatures and improved economic and safety benefits for reactors[2]. Equity and Liabilities - The company reported total assets of $41.0 million and total liabilities of $0.4 million at December 31, 2024[11]. - Lightbridge's stockholders' equity increased to $40.5 million at December 31, 2024, compared to $28.9 million at the end of 2023, reflecting a 40% increase[11]. Financing Activities - The company raised $21,412,505 from the issuance of common stock in 2024, significantly higher than the $6,405,431 raised in 2023, marking an increase of approximately 234%[24]. - The net cash provided by financing activities was $20,886,078 in 2024, compared to $6,183,821 in 2023, indicating an increase of about 237%[24]. - The company made a non-cash financing activity payment of accrued liabilities with common stock amounting to $255,000 in 2024, compared to $215,000 in 2023[24]. Expenses - General and administrative expenses increased to $8.5 million in 2024, up from $7.1 million in 2023, a rise of 19.0% primarily due to higher employee compensation and consulting fees[11]. - The company reported stock-based compensation of $2,038,231 in 2024, compared to $1,257,717 in 2023, which is an increase of approximately 62%[24]. - Payments for taxes related to net share settlement of equity awards were $568,348 in 2024, up from $221,610 in 2023, reflecting an increase of about 157%[24]. - The common stock issued for services increased to $110,806 in 2024 from $45,000 in 2023, representing an increase of approximately 146%[24]. - The company reported a decrease in accounts payable and accrued liabilities, which amounted to $193,259 in 2024, down from $350,995 in 2023, a decrease of approximately 45%[24].

RESTON, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation (“Lightbridge” or the “Company”) (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the fiscal year ended December 31, 2024, and provided an update on the Company’s continued progress. Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We believe 2024 was a transformative year for the nuclear industry as we saw unprecedented momentum in the adoption and dev ...