NexGen Energy .(US:NXE)2025-11-05 23:05Financial Performance - The company recorded a net loss of CAD 129,220 for the three months ended September 30, 2025, compared to a net income of CAD 10,252 for the same period in 2024[3]. - For the nine months ended September 30, 2025, the net loss was CAD 266,847, significantly higher than the loss of CAD 11,172 in the prior year[3]. - The company incurred total expenses of CAD 21,986 for the three months ended September 30, 2025, compared to CAD 18,712 in the same period of 2024, an increase of approximately 12.2%[3]. - Share-based payments for the three months ended September 30, 2025, were CAD 11,066, up from CAD 8,236 in the prior year, representing a rise of approximately 34.3%[3]. - The company reported a net loss of $266,847 thousand for the nine months ended September 30, 2025, with an additional other comprehensive loss of $39,633 thousand[10]. Assets and Liabilities - As of September 30, 2025, NexGen Energy Ltd. reported total assets of CAD 1,566,177, a decrease from CAD 1,657,243 as of December 31, 2024, representing a decline of approximately 5.5%[2]. - Current liabilities increased to CAD 637,861 from CAD 478,111, marking a rise of approximately 33.4%[2]. - Cash and cash equivalents at the end of the period were CAD 305,985, down from CAD 476,587 at the beginning of the period, indicating a decrease of approximately 36%[4]. - As of September 30, 2025, NexGen Energy Ltd. reported an accumulated deficit of $648,410 thousand and a working capital deficit of $319,990 thousand, including convertible debentures[10]. - The company had cash reserves of $305,985 thousand as of September 30, 2025, and completed an equity financing with gross proceeds of approximately $953 million subsequent to this date[10]. Exploration and Evaluation - Exploration and evaluation assets increased to CAD 731,611 from CAD 584,889, reflecting a growth of approximately 25.1%[2]. - Total deferred exploration and acquisition costs increased to $731,611 thousand as of September 30, 2025, up from $584,889 thousand at the end of 2024, reflecting an addition of $146,722 thousand during the period[22]. - NexGen Energy Ltd. is engaged in the exploration and development of uranium properties in Canada and does not have revenues, historically incurring recurring operating losses[10]. Share Capital and Financing - The balance of share capital increased from $1,009,130 thousand at December 31, 2023, to $1,405,968 thousand at December 31, 2024[5]. - The company issued 5,186,669 shares for stock options, resulting in proceeds of $23,586 thousand, and recorded share-based payments of $23,227 thousand[10]. - The company raised $134,948,000 from the issuance of 13,000,800 shares under its at-the-market equity program in 2024, with share issuance costs of $4,993,000[37]. - The company completed a non-brokered private placement of 2.5 million common shares at $2.50 per share for gross proceeds of $6,250 on February 28, 2025[47]. - On October 15, 2025, the Company closed an equity financing offering 33,112,583 common shares and 45,801,527 common shares at a price of $12.08 per share, resulting in gross proceeds of approximately $953 million[66]. Investments and Impairments - The investment in associate decreased to $158,131,000 as of September 30, 2025, down from $229,594,000 at December 31, 2024, primarily due to an impairment loss of $81,009,000[24]. - The company reported a fair value of $231,032,000 for the investment in associate as of September 30, 2025, based on the closing market price of IsoEnergy[24]. - IsoEnergy reported a net income of $3,506,000 for the nine months ended September 30, 2025, compared to a net loss of $42,135,000 for the year ended December 31, 2024[25]. Cash Flow and Financial Position - The company reported cash used in operating activities of CAD 10,437 for the three months ended September 30, 2025, compared to CAD 2,836 in the same period of 2024, indicating a significant increase in cash outflow[4]. - The company's cash position as of September 30, 2025 was $305,985, down from $476,587 as of December 31, 2024[55]. - The total current liabilities as of September 30, 2025 were $637,861, including convertible debentures[56]. - The company recognized a loss of $79,980 in the consolidated statement of net income (loss) for the nine months ended September 30, 2025, due to changes in the fair value of convertible debentures[51]. Risk Management - The company has a notional amount of approximately $82.5 million in a USD/CAD forward contract to hedge foreign currency risk associated with US dollar interest payments on convertible debentures[59]. - The Company is exposed to equity price risk, which may adversely impact earnings due to significant movements in share prices and the valuation of convertible debentures[62]. - The Company closely monitors commodity prices, particularly uranium, as future declines may affect the valuation of long-lived assets[63]. - The Company holds cash in bank accounts with variable interest rates, and fluctuations in market rates do not significantly impact the estimated fair value of cash balances as of September 30, 2025[64]. Shareholder Information - The weighted average common shares outstanding for the three months ended September 30, 2025, were 573,112,202, compared to 564,693,987 for the same period in 2024[3]. - Basic net earnings per share for the three months ended September 30, 2025, was calculated using a weighted average of 573,112,202 common shares, compared to 564,693,987 for the same period in 2024[65]. - The diluted weighted average number of common shares for the three months ended September 30, 2025, was 573,112,202, while for the nine months it was 571,247,290[65]. - As of September 30, 2025, the company had 47,041,793 outstanding share options with a weighted average exercise price of C$6.70[42]. - Share-based payments for options vested for the three months ended September 30, 2025 amounted to $14,309, an increase from $9,337 in the same period of 2024[42].