NEXT-ChemX Reports Q2 2025 Financial Results with Increased Net Loss

NEXT-ChemX Corporation has reported its financial results for the second quarter of 2025, revealing a net loss of $455,639, compared to a loss of $383,379 in the same period of 2024. For the first half of 2025, the company recorded a net loss of $921,565, slightly improved from a loss of $939,787 in the first half of the previous year. The company did not generate any revenue during this period, maintaining the same trend as the previous year. Operating expenses for the second quarter totaled $391,584, down from $440,338 in the prior year, while total operating expenses for the first half of 2025 were $814,645, compared to $939,932 in 2024.

In terms of balance sheet performance, NEXT-ChemX reported total assets of $3,170,054 as of June 30, 2025, a decrease from $3,254,974 at the end of 2024. Current liabilities increased to $4,913,451 from $4,571,766, primarily due to a rise in accounts payable and accrued liabilities, which grew from $3,119,321 to $3,441,236. The company's stockholders' equity deficit widened to $3,823,401 from $2,901,796, reflecting the ongoing losses and lack of revenue generation.

Strategically, NEXT-ChemX is focused on the commercialization of its innovative Ion-Targeting Continuous-Flow Direct Extraction Technology (iTDE Technology). The company is currently managing the construction of two pilot plant systems in India, aimed at demonstrating the scalability and commercial viability of its technology for lithium extraction from natural brines and geothermal sources. The smaller system is designed to refine the iTDE process, while the larger system will handle industrial quantities of brines. The first system is expected to be completed in the third quarter of 2025, with initial extraction tests planned using brine solutions.

Operationally, NEXT-ChemX has not reported any significant changes in customer counts or user statistics, as the company is still in the development phase of its technology. The company has received brine samples from Clontarf Energy plc for testing, which will aid in calibrating the pilot plant systems. The anticipated arrival of larger samples of actual brines in October 2024 is expected to further support the testing and validation of the iTDE technology.

Looking ahead, NEXT-ChemX remains optimistic about its future, with plans to conduct extraction tests and refine its technology for commercial applications. The company is exploring additional markets for its iTDE technology, including water treatment and recycling, as well as the extraction of other metals. However, the company cautions that its ability to achieve its strategic goals is subject to various risks and uncertainties, including market conditions and regulatory compliance.