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Yahoo
12-05-2025
- Business
- Yahoo
Lightbridge Provides Business Update and Announces First Quarter 2025 Financial Results
RESTON, Va., May 12, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the first quarter ended March 31, 2025, and provided an update on the Company's continued progress. Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, 'In the first quarter, we reached a significant milestone in our fuel development program with the successful co-extrusion demonstration of a depleted uranium-zirconium alloy coupon sample with zirconium alloy cladding at Idaho National Laboratory. This achievement under our Strategic Partnership Project Agreement with Battelle Energy Alliance represents a critical fabrication advancement for Lightbridge Fuel™. It establishes the foundation for future production of enriched uranium samples for irradiation testing in INL's Advanced Test Reactor.' 'Our strategic vision continues to expand with the January 2025 memorandum of understanding with Oklo, exploring potential synergies in fuel fabrication facilities, reprocessing, and recycling of spent uranium-zirconium fuel. As global demand for reliable energy accelerates, particularly from data centers supporting AI technologies and industries seeking to decarbonize, Lightbridge is uniquely positioned to address these needs. Lightbridge Fuel can deliver more power and major economic and safety benefits for existing and new reactors, including water-cooled small modular reactors. This innovation supports the U.S. commitment to triple nuclear power capacity globally by 2050, potentially enabling nuclear to grow from its current 19% share of U.S. electricity to over 50% by mid-century. Through our ongoing collaboration with the Department of Energy's national laboratories and strategic industry partnerships, we are advancing toward delivering more power for a cleaner energy future,' concluded Mr. Grae. Financial Highlights Working capital was $56.5 million at March 31, 2025, compared to $39.9 million at December 31, 2024. Cash Flows Summary Cash and cash equivalents were $56.9 million, compared to $40.0 million at December 31, 2024, an increase of $16.9 million for the first quarter ended March 31, 2025, consisting of the following: Cash used in operating activities for the first quarter ended March 31, 2025 was $3.3 million, an increase of $1.4 million compared to $1.9 million for the first quarter ended March 31, 2024. The increase was primarily due to increased spending on research and development (R&D) and general and administrative expenses. Cash provided by financing activities for the first quarter ended March 31, 2025 was $20.2 million, an increase of $19.0 million compared to $1.2 million for the first quarter ended March 31, 2024. This increase was primarily due to an increase in the net proceeds received from the issuance of common stock under our at-the-market facility. Balance Sheet Summary Total assets were $58.3 million and total liabilities were $1.0 million at March 31, 2025. Stockholders' equity was $57.3 million at March 31, 2025, as compared to $40.5 million at December 31, 2024. Operations Summary General and administrative expenses amounted to $3.5 million for the first quarter ended March 31, 2025, compared to $2.2 million for the first quarter ended March 31, 2024. The increase of $1.3 million was primarily due to an increase in employee compensation and employee benefits of $0.2 million, an increase in consulting fees of $0.1 million, an increase in professional fees of $0.4 million, and an increase in stock-based compensation of $0.7 million primarily due to the accelerated vesting of restricted stock awards issued to a former employee of $0.5 million, partially offset by a decrease in information technology and recruitment expenses of $0.1 million. Lightbridge's total R&D expenses amounted to $1.7 million for the first quarter ended March 31, 2025, compared to $1.0 million for the first quarter ended March 31, 2024, an increase of $0.7 million. This increase was primarily due to an increase in INL project labor costs of $0.4 million, and an increase in allocated employee compensation and employee benefits and stock-based compensation expenses of $0.6 million, partially offset by a decrease in R&D expenses of $0.3 million due to two completed R&D studies in 2024. Total other income was $0.4 million for the first quarters ended March 31, 2025 and 2024. Other income consisted of interest income earned from the purchase of treasury bills and from our bank savings account. Net loss was $4.8 million for the first quarter ended March 31, 2025, compared to $2.8 million for the first quarter ended March 31, 2024. CONFERENCE CALL & AUDIO WEBCAST Lightbridge will host a conference call later today at 4:00 p.m. ET to discuss the Company's financial results and provide an update on its fuel development activities. The conference call will be led by Seth Grae, President & Chief Executive Officer, with other Lightbridge executives available to answer questions. To access the call by phone, please register using this link (registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time. The webcast can be accessed at the following link (webcast). A webcast replay will also be available for a limited time at the following link (webcast replay). About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements,' all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2025 2024 ASSETS Current Assets Cash and cash equivalents $ 56,929,988 $ 39,990,827 Prepaid expenses and other current assets 546,267 324,378 Total Current Assets 57,476,255 40,315,205 Other Assets Prepaid project costs and other long-term assets 702,562 528,805 Trademarks 108,865 108,865 Total Assets $ 58,287,682 $ 40,952,875 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 966,209 $ 424,585 Total Current Liabilities 966,209 424,585 Stockholders' Equity Preferred stock, $0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at March 31, 2025 and December 31, 2024 — — Common stock, $0.001 par value, 25,000,000 authorized, 21,557,343 shares and 18,783,912 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 21,557 18,784 Additional paid-in capital 226,255,770 204,694,348 Accumulated deficit (168,955,854 ) (164,184,842 ) Total Stockholders' Equity 57,321,473 40,528,290 Total Liabilities and Stockholders' Equity $ 58,287,682 $ 40,952,875 LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2025 2024 Revenue $ — $ — Operating Expenses General and administrative 3,480,010 2,157,745 Research and development 1,665,913 1,023,823 Total Operating Expenses 5,145,923 3,181,568 Operating Loss (5,145,923 ) (3,181,568 ) Other Income Interest income 374,911 361,984 Total Other Income 374,911 361,984 Net Loss Before Income Taxes (4,771,012 ) (2,819,584 ) Income taxes — — Net Loss $ (4,771,012 ) $ (2,819,584 ) Net Loss Per Common Share Basic and diluted $ (0.24 ) $ (0.21 ) Weighted Average Number of Common Shares Outstanding 19,547,312 13,491,954 LIGHTBRIDGE CORPORATIONUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months EndedMarch 31, 2025 2024 Operating Activities Net Loss $ (4,771,012 ) $ (2,819,584 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,355,181 456,904 Changes in operating assets and liabilities: Prepaid expenses and other current assets (266,889 ) (194,796 ) Prepaid project costs and other long-term assets (173,757 ) 3,375 Accounts payable and accrued liabilities 556,624 676,095 Net Cash Used in Operating Activities (3,299,853 ) (1,878,006 ) Net Cash Used in Investing Activities — — Financing Activities Net proceeds from the issuances of common stock 20,213,195 1,221,982 Net proceeds from the exercise of stock options 220,697 — Payments for taxes related to net share settlement of equity awards (194,878 ) — Net Cash Provided by Financing Activities 20,239,014 1,221,982 Net Increase (Decrease) in Cash and Cash Equivalents 16,939,161 (656,024 ) Cash and Cash Equivalents, Beginning of Period 39,990,827 28,598,445 Cash and Cash Equivalents, End of Period $ 56,929,988 $ 27,942,421 Supplemental Disclosure of Cash Flow Information Cash paid during the period: Interest paid $ — $ — Income taxes paid $ — $ — Non-Cash Financing Activities: Payment of accrued liabilities with common stock $ 15,000 $ 15,000 This press release was published by a CLEAR® Verified in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Lightbridge Executive Vice President Dr. Andrey Mushakov Appointed to U.S. Nuclear Industry Council Board of Directors
Lightbridge Corporation RESTON, Va., May 06, 2025 (GLOBE NEWSWIRE) -- May 6, 2025 – Lightbridge Corporation (Nasdaq: LTBR), a leader in advanced nuclear fuel technology, today announced that Dr. Andrey Mushakov, Executive Vice President for Nuclear Operations, has been appointed to the Board of Directors of the U.S. Nuclear Industry Council (USNIC), the leading U.S. business consortium advocate for nuclear energy and promotion of the American supply chain globally. Dr. Mushakov's appointment to the USNIC Board of Directors will enhance the Company's ability to collaborate with key stakeholders in advancing nuclear technology innovation. As a board member, Dr. Mushakov will contribute to USNIC's efforts in shaping policies that support the development and deployment of advanced nuclear technologies, including next-generation fuels like Lightbridge Fuel™. Seth Grae, President and CEO of Lightbridge, commented: "We are proud to have Andrey represent Lightbridge on the USNIC Board of Directors. His expertise in nuclear fuel technology and deep understanding of the industry will be valuable assets to the Council as it works to advance nuclear energy in the United States and globally. This appointment reflects the growing recognition of Lightbridge's innovative nuclear fuel technology and our role in shaping the future of clean energy." Dr. Andrey Mushakov added: "I am honored to join the USNIC Board of Directors and look forward to working with fellow board members to promote the vital role of nuclear energy in addressing energy security challenges. This opportunity aligns with Lightbridge's ongoing efforts to develop and commercialize advanced nuclear fuel technology designed to enhance the safety, economics, and performance of nuclear energy which is essential to power data centers and fuel the growth of AI-driven economy" About the U.S. Nuclear Industry Council The United States Nuclear Industry Council (USNIC) is the leading U.S. business consortium advocate for nuclear energy and promotion of the American supply chain globally. USNIC represents approximately 80 companies engaged in nuclear innovation and supply chain development, including technology developers, manufacturers, construction engineers, key utility movers, and service providers. USNIC's educational programs, industry insights, and market intelligence bring together strategic nuclear industry leaders to help the American nuclear industry succeed in the domestic and global markets. About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid.
Yahoo
29-04-2025
- Business
- Yahoo
Lightbridge to Hold Business Update & First Quarter 2025 Earnings Conference Call on Monday, May 12 at 4 p.m. ET
RESTON, Va., April 29, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, will announce its financial results for the first quarter of fiscal year 2025 on Monday, May 12 before the market opens. Lightbridge will host a conference call later that day at 4:00 p.m. ET with the investment community to discuss the Company's financial results and provide an update on its fuel development activities. CONFERENCE CALL & AUDIO WEBCAST The conference call will be led by Seth Grae, President and Chief Executive Officer, with other Lightbridge executives available to answer questions. ir@ To access the call by phone, please register using this link (registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time. The webcast can be accessed at the following link (webcast). A webcast replay will also be available for a limited time at the following link (webcast replay). About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements,' all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ Sign in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
Lightbridge Provides Business Update and Announces Fiscal Year 2024 Financial Results
RESTON, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the fiscal year ended December 31, 2024, and provided an update on the Company's continued progress. Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, 'We believe 2024 was a transformative year for the nuclear industry as we saw unprecedented momentum in the adoption and development of nuclear power solutions. Throughout the year, Lightbridge continued advancing development of our nuclear fuel technology, to deliver more power for a cleaner energy future. Our focus on developing next-generation metallic fuel for water-cooled reactors positions us to address the growing demand for reliable, sustainable nuclear power, from data center operators and other industrial customers seeking clean, reliable power. We are designing Lightbridge Fuel™ to offer superior heat transfer capabilities, resulting in lower operating temperatures, as well as enhanced economic and safety benefits that we believe will be crucial for existing large reactors and the emerging small modular reactor market.' 'We have continued our ongoing collaboration with the Department of Energy's Idaho National Laboratory. In March 2024, we announced successful casting and extrusion of a demonstration sample consisting of depleted uranium and zirconium alloy, followed by an announcement in February 2025 of successful co-extrusion of a sample consisting of an alloy of depleted uranium and zirconium with an outer cladding made of nuclear-grade zirconium alloy material. In October 2024, MIT presented a technical paper with preliminary safety evaluation results at the TopFuel 2024 Conference in Grenoble, France. According to MIT, the results show promising safety and performance benefits for Lightbridge Fuel™. Compared to conventional fuel, Lightbridge Fuel™ demonstrated improved thermal-hydraulic margins, lower operating temperatures, and greater potential for power uprates, which contributes to enhancing reactor economics. A recently completed engineering study conducted by the Institutul de Cercetări Nucleare Pitești, a subsidiary of Regia Autonoma Tehnologii pentru Energia Nucleara (RATEN ICN) in Romania indicates that Lightbridge Fuel™ can double the discharged burnup in a CANDU reactor at uranium-235 enrichment levels of less than 3%, compared to conventional uranium dioxide fuel. Based on these favorable initial results, we plan to continue further evaluation of Lightbridge Fuel™ in CANDU reactors. Most recently, our memorandum of understanding with Oklo marks an important step forward, exploring potential synergies in commercial-scale fuel fabrication facility co-location and advanced fuel recycling technologies.' 'Looking ahead, we see significant opportunities as major technology companies and energy producers increasingly recognize nuclear power as a strategic solution for clean, baseload electricity generation. We believe Lightbridge is well-positioned to capitalize on this growing market demand, particularly as our fuel technology can enable power uprates in both existing reactors and new water-cooled SMRs, providing a cost-effective path to increased power generation,' concluded Mr. Grae. Financial Highlights Working capital was $39.9 million at December 31, 2024, as compared to $28.3 million at December 31, 2023. Cash Flows Summary Cash and cash equivalents were $40.0 million, as compared to $28.6 million at December 31, 2023, an increase of $11.4 million for the year ended December 31, 2024, consisting of the following: Cash used in operating activities for the year ended December 31, 2024 was $9.5 million, an increase of $3.0 million, compared to $6.5 million for the year ended December 31, 2023. The increase was primarily due to increased spending on R&D, general and administrative expenses and changes in working capital, which included an increase in prepaid assets of $0.1 million, and was partially offset by an increase in accounts payable and accrued liabilities of $0.2 million. Cash provided by financing activities for the year ended December 31, 2024, was $20.9 million, an increase of $14.7 million, compared to $6.2 million for the year ended December 31, 2023. The increase was due to an increase in the net proceeds received from the issuance of common stock under our at-the-market (ATM) facility in the year ended December 31, 2024 of $15.0 million, partially offset by an increase in net share settlement of equity awards for the payment of withholding taxes of $0.3 million. Balance Sheet Summary Total assets were $41.0 million and total liabilities were $0.4 million at December 31, 2024. Stockholders' equity was $40.5 million at December 31, 2024, as compared to $28.9 million at December 31, 2023. Operations Summary General and administrative expenses amounted to $8.5 million for the year ended December 31, 2024, compared to $7.1 million for the year ended December 31, 2023. The increase of $1.4 million was primarily due to an increase in employee compensation and employee benefits of $0.3 million, an increase in consulting fees and professional fees of $0.3 million, an increase in stock-based compensation of $0.6 million, an increase in IT expenses of $0.1 million, an increase in travel and recruitment expenses of $0.1 million, and an increase in patent expense of $0.1 million, partially offset by a decrease in insurance expense of $0.1 million. Total stock-based compensation included in general and administrative expenses was $1.7 million and $1.1 million for the years ended December 31, 2024 and 2023, respectively. Lightbridge's total research and development expenses amounted to $4.6 million for the year ended December 31, 2024, compared to $1.9 million for the year ended December 31, 2023, an increase of $2.7 million. This increase was primarily due to the increase in R&D activities related to the development of Lightbridge Fuel™. This increase primarily consisted of an increase in INL project labor costs of $0.9 million, an increase of outside R&D costs of $0.4 million, an increase in R&D employees and allocated employee compensation and employee benefits of $1.0 million, an increase in quality assurance expenses of $0.1 million, an increase in R&D modeling computer hardware and software and travel expenses of $0.2 million and an increase in stock-based compensation expenses of $0.1 million. Total stock-based compensation included in research and development expenses was $0.3 million and $0.2 million for the years ended December 31, 2024 and 2023, respectively. We currently anticipate investing approximately $17 million for both capital expenditures and operating expenditures in the R&D of our nuclear fuel for 2025. Total other income was $1.3 million for the year ended December 31, 2024, as compared to other income of $1.1 million for the year ended December 31, 2023, an increase of $0.2 million. The increase in other income was due to an increase in interest income earned from the purchase of treasury bills and from our bank savings account. Net loss was $11.8 million for the year ended December 31, 2024, compared to $7.9 million for the year ended December 31, 2023. CONFERENCE CALL & AUDIO WEBCAST Lightbridge will host a conference call on Thursday, February 27, at 10 a.m. ET. The conference call will be led by Seth Grae, President and Chief Executive Officer, with other Lightbridge executives available to answer questions. To access the call by phone, please register using this link (registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time. The webcast can be accessed at the following link (webcast). A webcast replay will also be available for a limited time at the following link (webcast replay). About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at Lightbridge is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements', all of which are available at and Investor Relations Contact:Matthew Abenante, IRCDirector of Investor RelationsTel: +1 (347) 947-2093ir@ *** tables follow ***LIGHTBRIDGE CORPORATIONCONSOLIDATED BALANCE SHEETS December 31, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 39,990,827 $ 28,598,445 Prepaid expenses and other current assets 324,378 207,063 Total Current Assets 40,315,205 28,805,508 Other Assets Prepaid project costs and other long-term assets 528,805 483,000 Trademarks 108,865 108,865 Total Assets $ 40,952,875 $ 29,397,373 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 424,585 $ 486,326 Total Current Liabilities 424,585 486,326 Stockholders' Equity Preferred stock, $0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at December 31, 2024 and 2023 — — Common stock, $0.001 par value, 25,000,000 authorized, 18,783,912 shares and 13,698,274 shares issued and outstanding at December 31, 2024 and 2023, respectively 18,784 13,698 Additional paid-in capital 204,694,348 181,295,125 Accumulated deficit (164,184,842 ) (152,397,776 ) Total Stockholders' Equity 40,528,290 28,911,047 Total Liabilities and Stockholders' Equity $ 40,952,875 $ 29,397,373 LIGHTBRIDGE CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2024 2023 Revenue $ — $ — Operating Expenses General and administrative 8,460,519 7,149,773 Research and development 4,598,978 1,922,865 Total Operating Expenses 13,059,497 9,072,638 Other Operating Income Contributed services - research and development — 31,028 Total Other Operating Income — 31,028 Operating Loss (13,059,497 ) (9,041,610 ) Other Income Interest income 1,272,431 1,132,964 Total Other Income 1,272,431 1,132,964 Net Loss Before Income Taxes (11,787,066 ) (7,908,646 ) Income taxes - — Net Loss $ (11,787,066 ) $ (7,908,646 ) Net Loss Per Common Share Basic and diluted $ (0.81 ) $ (0.65 ) Weighted Average Number of Common Shares Outstanding 14,487,834 12,099,574 LIGHTBRIDGE CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2024 2023 Operating Activities Net Loss $ (11,787,066 ) $ (7,908,646 ) Adjustments to reconcile net loss to net cash used in operating activities Common stock issued for services 110,806 45,000 Stock-based compensation 2,038,231 1,257,717 Changes in operating assets and liabilities Prepaid expenses and other current assets (3,121 ) (91,799 ) Prepaid project costs and other long-term assets (45,805 ) (138,000 ) Accounts payable and accrued liabilities 193,259 350,995 Net Cash Used in Operating Activities (9,493,696 ) (6,484,733 ) Investing Activities Trademarks — (640 ) Net Cash Used in Investing Activities — (640 ) Financing Activities Net proceeds from the issuances of common stock 21,412,505 6,405,431 Net proceeds from the exercise of stock options 41,921 — Payments for taxes related to net share settlement of equity awards (568,348 ) (221,610 ) Net Cash Provided by Financing Activities 20,886,078 6,183,821 Net Increase (Decrease) in Cash and Cash Equivalents 11,392,382 (301,552 ) Cash and Cash Equivalents, Beginning of Year 28,598,445 28,899,997 Cash and Cash Equivalents, End of Year $ 39,990,827 $ 28,598,445 Supplemental Disclosure of Cash Flow Information Cash paid during the year: Interest paid $ — $ — Income taxes paid $ — $ — Non-Cash Financing Activities Payment of accrued liabilities with common stock $ 255,000 $ 215,000 Common stock issued for consulting services $ 180,000 $ — This press release was published by a CLEAR® Verified in to access your portfolio
Yahoo
18-02-2025
- Business
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Lightbridge to Hold Business Update & Fiscal Year 2024 Earnings Conference Call on Thursday, February 27 at 10 a.m. ET
RESTON, Va., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Lightbridge Corporation ('Lightbridge' or the 'Company') (Nasdaq: LTBR), an advanced nuclear fuel technology company, will announce its financial results for the fiscal year 2024 on Wednesday, February 26 after the market closes. Lightbridge will host a conference call on Thursday, February 27, at 10:00 a.m. ET with the investment community to discuss the Company's financial results and provide an update on its fuel development activities. CONFERENCE CALL & AUDIO WEBCAST The conference call will be led by Seth Grae, President and Chief Executive Officer, with other Lightbridge executives available to answer questions. ir@ To access the call by phone, please register using this link (registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time. The webcast can be accessed at the following link (webcast). A webcast replay will also be available for a limited time at the following link (webcast replay). About Lightbridge Corporation Lightbridge Corporation (NASDAQ: LTBR) is focused on developing advanced nuclear fuel technology essential for delivering abundant, zero-emission, clean energy and providing energy security to the world. The Company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology for existing light water reactors and pressurized heavy water reactors, significantly enhancing reactor safety, economics, and proliferation resistance. The Company is also developing Lightbridge Fuel for new small modular reactors (SMRs) to bring the same benefits plus load-following with renewables on a zero-carbon electric grid. Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the United States Department of Energy's operating contractor for Idaho National Laboratory, the United States' lead nuclear energy research and development laboratory. DOE's Gateway for Accelerated Innovation in Nuclear program has twice awarded Lightbridge to support the development of Lightbridge Fuel over the past several years. Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at Massachusetts Institute of Technology and Texas A&M University. An extensive worldwide patent portfolio backs Lightbridge's innovative fuel technology. Lightbridge is included in the Russell Microcap® Index. For more information, please visit To receive Lightbridge Corporation updates via e-mail, subscribe at Lightbridge is on YouTube. Subscribe to access past demonstrations, interviews, and other video content at is on X (formerly Twitter). Sign up to follow @LightbridgeCorp at Forward Looking Statements With the exception of historical matters, the matters discussed herein are forward-looking statements. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to: Lightbridge's ability to commercialize its nuclear fuel technology; the degree of market adoption of Lightbridge's product and service offerings; Lightbridge's ability to fund general corporate overhead and outside research and development costs; market competition; our ability to attract and retain qualified employees; dependence on strategic partners; demand for fuel for nuclear reactors; Lightbridge's ability to manage its business effectively in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in Lightbridge's fuel development timeline; the increased costs associated with metallization of Lightbridge's nuclear fuel; public perception of nuclear energy generally; changes in the political environment; risks associated with war in Europe; changes in the laws, rules and regulations governing Lightbridge's business; development and utilization of, and challenges to, Lightbridge's intellectual property; risks associated with potential shareholder activism; potential and contingent liabilities; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission (the 'SEC'). Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in Lightbridge's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in its other filings with the SEC, including in the sections thereof captioned 'Risk Factors' and 'Forward-Looking Statements', all of which are available at and Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ Sign in to access your portfolio
