Lightbridge(LTBR) - 2025 Q2 - Quarterly Results

Business Update and Q2 2025 Financial Results Management Commentary and Business Highlights 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] - The political environment is viewed as increasingly favorable, citing President Trump's nuclear energy Executive Orders supporting advanced nuclear technologies[2] - The company's inclusion in the Russell 2000® and Russell 3000® Indexes is expected to enhance visibility among institutional investors[2] - 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] Financial Highlights 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 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) 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] - 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] Operational Results Summary (Q2 & H1 2025) 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 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 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 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 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 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 - Lightbridge is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and new small modular reactors (SMRs)[13] - 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] Conference Call Information - 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] Forward-Looking Statements - 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][17]