Atlas Lithium (US:ATLX)2025-11-13 22:01Financial Performance - Net revenue for the three months ended September 30, 2025, was $169.55 million, compared to $177.98 million for the same period in 2024, indicating a decrease of about 4.7%[19] - The net loss attributable to Atlas Lithium Corporation stockholders for the three months ended September 30, 2025, was $6.95 million, compared to a net loss of $9.03 million for the same period in 2024, reflecting an improvement of approximately 23.8%[19] - The company reported a gross loss of $69.47 million for the three months ended September 30, 2025, compared to a gross loss of $80.90 million for the same period in 2024, indicating an improvement of approximately 14.1%[19] - Basic and diluted loss per share for the three months ended September 30, 2025, was $(0.35), compared to $(0.60) for the same period in 2024, reflecting a decrease in loss per share of about 41.7%[19] - The company reported a net loss of $9,717,647 for the nine months ended September 30, 2024[21] - For the nine months ended September 30, 2025, the net loss was $24,469,037 compared to a net loss of $32,855,151 for the same period in 2024, indicating a reduction in losses[27] - The company reported an increase in comprehensive loss, with a total of $(9,717,647) for the nine months ended September 30, 2024[21] Assets and Liabilities - Total assets increased to $72.17 million as of September 30, 2025, up from $57.85 million on December 31, 2024, representing a growth of approximately 24.8%[16] - Total liabilities rose to $36.60 million as of September 30, 2025, compared to $35.84 million on December 31, 2024, an increase of about 2.1%[16] - Total stockholders' equity increased to $35.57 million as of September 30, 2025, from $22.01 million on December 31, 2024, representing a growth of approximately 61.9%[16] - The accumulated deficit as of September 30, 2025, stands at $(165,058,617)[22] - The total accumulated deficit as of September 30, 2025, was $(165,058,617), reflecting the ongoing financial challenges faced by the company[25] Cash Flow and Expenditures - Cash and cash equivalents increased to $20.98 million as of September 30, 2025, up from $15.54 million on December 31, 2024, marking a rise of approximately 35.1%[16] - Cash flows from operating activities resulted in a net cash used of $15,365,255 for the nine months ended September 30, 2025, compared to $14,212,264 in 2024[27] - The company reported net cash provided by financing activities of $28,687,888 for the nine months ended September 30, 2025, compared to $30,291,547 in 2024[27] - The company incurred capital expenditures of $5,897,200 for the nine months ended September 30, 2025, compared to $19,164,920 in 2024[27] Stock and Equity - The company had a weighted-average number of common shares outstanding of 20,153,907 for the three months ended September 30, 2025, compared to 14,964,697 for the same period in 2024, an increase of about 34.5%[19] - The balance of common stock shares increased to $21,797, reflecting an issuance of common stock in connection with private offerings totaling $15,820,035[21] - The Company issued 2,916,366 shares of common stock under private offerings, raising $14,712,117 in additional paid-in capital[21] - The Company sold 2,128,714 shares of common stock during the three months ended September 30, 2025, generating net proceeds of $11.3 million[76] - During the nine months ended September 30, 2025, the company issued 75,000 common stock purchase warrants with a total grant date fair value of $200,981[90] Financial Instruments and Derivatives - The total valuation of financial instruments decreased by $14,150 during the reporting period[21] - The fair value of the embedded conversion feature of the convertible debt was $10,383 as of September 30, 2025, down from $66,310 at December 31, 2024[57] - For the three months ended September 30, 2025, the Company recognized a loss of $3,313 on changes in fair value of financial instruments, compared to a gain of $84,934 for the same period in 2024[58] - For the nine months ended September 30, 2025, the Company reported a gain of $55,927 on changes in fair value of financial instruments, down from a gain of $396,651 in the prior year[58] Foreign Currency and Risks - The company operates primarily in Brazil, exposing it to currency risks that may affect financial results due to exchange rate fluctuations[111] - The company experienced a foreign currency translation adjustment of $40,849, impacting the overall equity[21] - The company reported a foreign currency translation adjustment of $49,632 for the nine months ended September 30, 2025[25] Other Financial Metrics - Stock-based compensation for the period amounted to $1,458,348, indicating ongoing investment in employee incentives[21] - Stock-based compensation and services for the nine months ended September 30, 2025, amounted to $7,877,085, down from $18,084,197 in 2024[27] - The Company recorded stock-based compensation expenses of $766,693 and $2,337,433 for the three and nine months ended September 30, 2025, respectively, compared to $3,389,507 and $10,094,837 for the same periods in 2024[88]