Lightbridge(LTBR) - 2024 Q3 - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company's working capital position was $25.9 million at September 30, 2024, down from$28.3 million at December 31, 2023 [32] - Total cash and cash equivalents decreased to $26.6 million from$28.6 million at December 31, 2023, a reduction of $2 million [34] - Net loss for the third quarter ended September 30, 2024, was$2.7 million, compared to 1.8 million for the same period in 2023 [38] Business Line Data and Key Metrics Changes - Total R&D expenses for the three months ended September 30, 2024, amounted to 1.3 million, an increase of $0.8 million compared to$0.5 million for the same period in 2023 [38] - Total G&A expenses were $1.7 million for the three months ended September 30, 2024, slightly up from$1.6 million in the same period in 2023 [39] Market Data and Key Metrics Changes - The company is actively involved in studies funded by the U.S. Department of Energy to evaluate the use of its fuel in small modular reactors, indicating a focus on future market opportunities [12][19] Company Strategy and Development Direction - The company aims to complete the fuel development process, achieve regulatory approvals, and establish commercial arrangements with utilities to generate revenue from its fuel technology [13] - Lightbridge is positioning its fuel technology to address the growing demand for stable, carbon-free power sources, particularly in light of increasing energy consumption from sectors like AI [26][28] Management Comments on Operating Environment and Future Outlook - Management highlighted the growing recognition of nuclear power as essential for meeting global energy demands, particularly in the context of climate change and the need for reliable energy sources [26][29] - The company believes that its fuel technology will be integral to making nuclear energy safer, more efficient, and sustainable, aligning with global efforts to increase nuclear capacity [13][30] Other Important Information - The company presented a technical paper at the TopFuel 2024 Conference, showcasing its fuel development activities and the validation of its technology through independent studies [18][19] - The initial engineering study on the compatibility of Lightbridge Fuel with CANDU reactors indicates potential for double the discharge burn-up compared to current CANDU fuel [21] Q&A Session Summary - No questions were submitted during the call, and the company expressed its readiness to provide additional updates in the future [41]