Lightbridge(LTBR) - 2025 Q3 - Quarterly Results

Financial Performance - Net loss for the third quarter of 2025 was $4.1 million, compared to a net loss of $2.7 million for the same period in 2024[13] - Net loss for the nine months ended September 30, 2025, was $12,390,691, compared to a net loss of $7,850,379 for the same period in 2024, representing an increase of approximately 58%[21] - Net cash used in operating activities for the nine months ended September 30, 2025, was $8,115,197, an increase from $5,669,276 in 2024[21] Research and Development - Total research and development expenses for the nine months ended September 30, 2025, were $5.3 million, up from $3.2 million in the same period of 2024, reflecting increased project labor costs[13] - Lightbridge Corporation presented three peer-reviewed papers at TopFuel 2025, validating its technical approach and demonstrating superior performance compared to conventional fuel[2] - The company achieved critical milestones in fuel development, including the successful loading of enriched uranium-zirconium alloy samples into an experiment assembly[2] Cash and Liquidity - Cash and cash equivalents rose to $153.3 million, an increase of $113.3 million for the nine months ended September 30, 2025, primarily due to financing activities[4] - Cash and cash equivalents at the end of the period reached $153,330,134, up from $26,634,951 at the end of the previous year[21] - Net cash provided by financing activities was $121,460,621, compared to $3,705,782 in the same period of 2024[21] Expenses - General and administrative expenses for the nine months ended September 30, 2025, amounted to $9.2 million, compared to $5.7 million for the same period in 2024[13] - Stock-based compensation increased to $3,746,642 in 2025 from $1,280,403 in 2024, reflecting a rise of approximately 193%[21] - Cash paid for offering costs and commissions was $4,207,920, compared to $421,657 in the previous year[21] Balance Sheet - Total assets were $155.1 million and total liabilities were $1.6 million at September 30, 2025[5] - Stockholders' equity increased to $153.5 million at September 30, 2025, compared to $40.5 million at December 31, 2024[5] - Accounts payable and accrued liabilities increased by $1,135,512 in 2025, compared to an increase of $928,240 in 2024[21] Other Income - Total other income for the nine months ended September 30, 2025, was $2.1 million, compared to $1.0 million for the same period in 2024, driven by interest income[13] - Common stock issued for prepaid consulting services increased to $300,000 from $180,000, indicating a rise of 67%[21] - The company reported no interest or income taxes paid during the period[21]