Lightbridge(US:LTBR)2025-02-26 21:30Financial 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].