Atlas Lithium Corporation Reports Q2 2025 Financial Results with Reduced Net Loss

Atlas Lithium Corporation has reported its financial results for the second quarter of 2025, revealing a net loss of $6.3 million for the three months ending June 30, compared to a net loss of $9.9 million for the same period in 2024. For the first half of 2025, the company recorded a net loss of $16.5 million, a significant improvement from the $23.1 million loss reported in the first half of 2024. The decrease in losses is attributed to a reduction in exploration costs, which were capitalized following the completion of a preliminary economic assessment for the Neves Project, and a decrease in stock-based compensation expenses.

In terms of revenue, Atlas Lithium generated $42,991 in gross revenues for the second quarter of 2025, down from $202,275 in the same quarter of the previous year. The company reported net revenues of $31,805 for the quarter, a decline from $182,788 in the prior year. The decrease in revenue is primarily due to lower sales volumes and pricing pressures in the lithium market. The company’s total assets increased to $63.3 million as of June 30, 2025, up from $57.9 million at the end of 2024, driven by investments in property and equipment.

Operationally, Atlas Lithium has made significant strides in its lithium projects, particularly the Neves Project in Brazil, which has been designated as a mining concession by the Brazilian government. This status allows the company to mine lithium without volume limitations, marking a critical milestone in its development. The company has also successfully transported its modular lithium processing plant to a secure location in Minas Gerais, where it awaits assembly. As of June 30, 2025, Atlas Lithium had four customers accounting for 95% of its revenue, indicating a concentrated customer base.

The company’s cash and cash equivalents stood at $13.9 million at the end of the second quarter, down from $15.5 million at the end of 2024. Net cash used in operating activities decreased to $8.3 million for the first half of 2025, compared to $11.3 million in the same period of 2024. This reduction is attributed to the capitalization of exploration expenses and an increase in accounts payable. Looking ahead, Atlas Lithium anticipates that its current cash reserves will be sufficient to meet its working capital and capital expenditure needs for at least the next twelve months, although it may seek additional financing to support its growth and operational plans.