Lightbridge Corporation Reports $4.8 Million Net Loss in Q1 2025, No Revenue Generated

Lightbridge Corporation reported its financial results for the first quarter of 2025, revealing a net loss of $4.8 million, a significant increase from the $2.8 million loss recorded in the same period of 2024. The company did not generate any revenue during this quarter, consistent with its ongoing focus on research and development (R&D) of its nuclear fuel technology. Total operating expenses rose to $5.2 million, up from $3.2 million in the prior year, driven primarily by increased general and administrative costs and R&D expenditures.

The company's cash and cash equivalents increased to $56.9 million as of March 31, 2025, compared to $40.0 million at the end of 2024. This increase was largely attributed to net proceeds of $20.2 million from the issuance of approximately 2.6 million shares of common stock under its at-the-market (ATM) offering. Lightbridge's net cash used in operating activities also rose to $3.3 million, reflecting higher spending on R&D and administrative expenses.

Strategically, Lightbridge has made significant advancements in its partnerships and R&D initiatives. The company entered a memorandum of understanding with Oklo, Inc. to explore collaboration opportunities, including the potential co-location of a fuel fabrication facility. Additionally, Lightbridge continues to work with the Idaho National Laboratory (INL) under agreements that support the development of its Lightbridge Fuel™ technology. R&D expenses related to INL increased to $0.8 million in the first quarter, up from $0.4 million in the previous year, as the company ramps up its efforts in this area.

Lightbridge's employee headcount has also seen changes, with the company issuing stock options and restricted stock awards to its employees and directors. As of March 31, 2025, the company had 21,557,343 common shares outstanding, an increase from 18,783,912 shares at the end of 2024. The company anticipates continued investment in R&D, estimating a total expenditure of $200 million to $300 million over the next 10-15 years to support the commercialization of its nuclear fuel technology.

Looking ahead, Lightbridge remains focused on advancing its nuclear fuel development and commercialization efforts. The company expects to continue incurring losses as it progresses through the R&D phase, with plans to raise additional capital through equity offerings and strategic partnerships. The management emphasizes the need for ongoing funding to support its operations and achieve future milestones in the development of its nuclear fuel technology.