0001477932-26-002678
SEC filingPre-revenue Lightbridge posted a wider net loss of $6.3M as R&D and G&A spending surged, partially offset by higher interest income from a strengthened cash position following equity raises.
Net loss for the quarter was $6.3 million, compared to $4.8 million in the prior year, a 33% increase. However, diluted loss per share improved to -$0.20 from -$0.24, due to a higher weighted-average share count resulting from equity issuances. The company generated no revenue in either period, as it remains in the pre-revenue stage, focused on developing its nuclear fuel technology.
Net cash used in operating activities was $4.8 million, up from $3.3 million in the prior year, reflecting higher cash expenditures on R&D and G&A activities. The company has not provided a cash balance figure in the authoritative packet, but management notes that liquidity is assessed based on the ability to fund R&D, G&A, contractual obligations, and other operating needs. The company expects to continue funding its business primarily through its at-the-market (ATM) equity offering program or other equity offerings, as it does not anticipate material incoming cash flows from operations for the foreseeable future.
Lightbridge continues to advance its Lightbridge Fuel™ technology, including evaluating a potential site location and working on a conceptual design for a Lightbridge Expandable Fuel Facility (LEFF). While the scope, timing, and cost of constructing such a facility cannot be reasonably estimated at this time, the company expects the capital required to be substantial. Management believes additional public or private equity investments may be available, but adverse market conditions, unfavorable stock price movements, or reduced trading volumes could impair the ability to raise capital when needed. The company's liquidity outlook remains tied to its ability to access capital markets through its ATM program.