IsoEnergy Ltd(ISOU) - 2025 Q2 - Quarterly Report

Condensed Consolidated Interim Statements of Financial Position Presents the company's interim financial position, detailing assets, liabilities, and equity Assets Total assets increased by 20.48% to $410.63 million, primarily due to higher cash, cash equivalents, and marketable securities Consolidated Assets Summary | ASSETS | June 30, 2025 ($) | December 31, 2024 ($) | Change (%) | Note | | :-------------------------- | :------------- | :---------------- | :--------- | :--- | | Cash and cash equivalents | $84,666,913 | $21,294,663 | 297.60% | | | Accounts receivable | $646,413 | $500,249 | 29.22% | | | Prepaid expenses | $2,514,507 | $489,921 | 413.25% | | | Loan receivable | $- | $6,120,503 | -100.00% | 6b | | Marketable securities | $40,663,892 | $31,181,067 | 30.41% | 7 | | Total Current Assets | $128,491,725 | $59,586,403 | 115.66% | | | Property and equipment | $15,701,897 | $16,232,302 | -3.14% | 8 | | Exploration and evaluation assets | $263,830,842 | $262,291,098 | 0.59% | 9 | | Environmental bonds | $2,606,346 | $2,725,220 | -4.36% | 10 | | TOTAL ASSETS | $410,630,810 | $340,835,023 | 20.48% | | Liabilities Total liabilities decreased by 19.34% to $30.39 million, mainly due to reduced convertible debentures Consolidated Liabilities Summary | LIABILITIES | June 30, 2025 ($) | December 31, 2024 ($) | Change (%) | Note | | :------------------------------ | :------------ | :---------------- | :--------- | :--- | | Accounts payable and accrued liabilities | $3,415,933 | $3,348,296 | 2.02% | | | Convertible debentures | $15,980,791 | $30,279,306 | -47.22% | 11 | | Current portion of lease liabilities | $152,965 | $121,165 | 26.24% | 12 | | Flow-through share premium liabilities | $8,028,580 | $1,355,210 | 492.43% | 13 | | Total Current Liabilities | $27,578,269 | $35,103,977 | -21.44% | | | Long-term portion of lease liabilities | $361,602 | $281,721 | 28.32% | 12 | | Asset retirement obligation | $2,164,986 | $2,026,975 | 6.81% | 10 | | Deferred income tax liability | $288,554 | $259,191 | 11.33% | 14 | | TOTAL LIABILITIES | $30,393,411 | $37,671,864 | -19.34% | | Equity Total equity increased by 25.43% to $380.24 million, driven by share capital increases and reduced accumulated deficit Consolidated Equity Summary | EQUITY | June 30, 2025 ($) | December 31, 2024 ($) | Change (%) | | :------------------------------ | :------------ | :---------------- | :--------- | | Share capital | $444,890,234 | $362,941,599 | 22.58% | | Share option and warrant reserve | $35,998,015 | $33,154,239 | 8.58% | | Accumulated deficit | $(99,326,901) | $(102,545,246) | 3.14% | | Accumulated other comprehensive income | $(1,323,949) | $9,612,567 | -113.77% | | TOTAL EQUITY | $380,237,399 | $303,163,159 | 25.43% | Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Loss Presents the company's interim operating results, income, and comprehensive loss for the reporting periods Operating Results Operating income of $3.56 million for H1 2025 marks a significant turnaround from the prior year's loss Consolidated Operating Results Summary | Metric | For the three months ended June 30, 2025 ($) | For the three months ended June 30, 2024 ($) | For the six months ended June 30, 2025 ($) | For the six months ended June 30, 2024 ($) | | :-------------------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------------- | :------------------------------------- | | Total general and administrative costs | $(3,945,861) | $(3,199,733) | $(8,534,532) | $(6,846,501) | | Interest income | $364,387 | $563,560 | $674,684 | $1,050,077 | | Interest expense | $(34,179) | $(20,413) | $(76,058) | $(40,303) | | Interest on convertible debentures | $(226,594) | $(311,288) | $(489,144) | $(618,095) | | Fair value gain (loss) on convertible debentures | $627,079 | $(2,856,776) | $338,497 | $(4,755,860) | | Gain on disposal of assets | $820,394 | $- | $11,189,425 | $- | | Foreign exchange (loss) gain | $(75,864) | $(38,579) | $(68,945) | $12,534 | | Other income | $92,020 | $27,322 | $523,941 | $46,702 | | (Loss) income from operations | $(2,378,618) | $(5,835,907) | $3,557,868 | $(11,151,446) | | Deferred income tax recovery (expense) | $491,348 | $(168,253) | $(339,523) | $488,674 | | (Loss) income from continuing operations | $(1,887,270) | $(6,004,160) | $3,218,345 | $(10,662,772) | | Loss from discontinued operations, net of tax | $- | $(55,133) | $- | $(126,499) | | (Loss) income for the period | $(1,887,270) | $(6,059,293) | $3,218,345 | $(10,789,271) | - Total general and administrative costs increased by 24.65% for the six months ended June 30, 2025, compared to the same period in 2024, reaching $8.53 million[3] - The Company recorded a significant gain on disposal of assets of $11.19 million for the six months ended June 30, 2025, which was not present in the prior year[3] Comprehensive Loss and EPS Total comprehensive loss of $7.72 million for H1 2025, primarily from other comprehensive losses, despite period income Consolidated Comprehensive Loss and EPS Summary | Metric | For the three months ended June 30, 2025 ($) | For the three months ended June 30, 2024 ($) | For the six months ended June 30, 2025 ($) | For the six months ended June 30, 2024 ($) | | :-------------------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------------- | :------------------------------------- | | (Loss) income for the period | $(1,887,270) | $(6,059,293) | $3,218,345 | $(10,789,271) | | Change in fair value of convertible debentures attributable to the change in credit risk | $(665) | $5