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ELVR

Elevra Lithium Limited

ELVR

Elevra Lithium Limited • NASDAQ
$37.58 ▲ 6.70% (+2.36)
Market Cap $2.83 B
52w High $38.33
52w Low $15.54
Dividend Yield 0%
P/E -1.4
Volume 75.10K
Outstanding Shares 75.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $72.29M ▼ $652.714M ▼ $177.268M ▲ $420.219M ▼
Q4-2023 $90.624M $952.513M $156.88M $665.042M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Five-Year Company Overview

Income Statement

Income Statement Elevra is still in an early, build‑out phase. Revenue is tiny and only recently started to appear, so the business is not yet a mature producer. Gross profit has been positive, which suggests the core operations can create value once they reach scale, but overhead, development, and other operating costs are high enough that the company is posting steady losses. Profitability was better a few years ago but has moved into deeper losses as Elevra invests more heavily in growth and integration. Overall, the income statement shows a company prioritizing expansion over short‑term earnings, with meaningful execution and commodity‑price risk as a result.

Balance Sheet

Balance Sheet The balance sheet is relatively small for a mining and processing story, but it is not overburdened by debt. Assets have drifted down rather than up, while cash has been falling, which indicates that investment and operating losses are drawing on the company’s resources. Debt remains low compared with total assets, so financial leverage is modest. Equity has been shrinking as losses accumulate, which is common at this stage but reduces the cushion available to absorb future setbacks unless new capital is raised. In short, Elevra appears conservatively leveraged, but with a limited cash buffer for a capital‑intensive growth plan.

Cash Flow

Cash Flow Operating cash flow has effectively been neutral, reflecting a business that is not yet generating meaningful cash from its activities. Free cash flow has been solidly negative for several years, driven by ongoing spending on projects and facilities. This pattern is typical of a company building out mines and processing capacity, but it also means Elevra depends on external funding or new partnerships to support its plans. The key future unknown is how quickly new operations can ramp to the point where they cover both day‑to‑day costs and ongoing investment from internal cash.

Competitive Edge

Competitive Edge Elevra’s edge is more strategic than technological. Through the merger, it has become a leading hard‑rock lithium player in North America, with large, long‑life resource bases anchored by the NAL operation in Québec. Being in Canada and the U.S. is a meaningful advantage as automakers and battery makers seek reliable, non‑Chinese supply that qualifies under local content rules. Access to low‑cost, renewable hydro power in Québec can translate into lower operating costs and stronger environmental credentials, both attractive to battery customers. On the other hand, the company operates in a highly cyclical, globally competitive commodity market, where shifts in lithium prices, new supply from other regions, and permitting or construction delays could erode these advantages.

Innovation and R&D

Innovation and R&D Elevra’s “innovation” is mainly about how it designs and operates its assets rather than lab‑style research. The company is focused on process optimisation at NAL to push more ore through the plant, recover more lithium from each tonne, and cut unit costs. Its planned moves into higher‑value lithium hydroxide via the Carolina Lithium project represent a strategic innovation: climbing the value chain from raw concentrate to battery‑grade chemicals. The use of clean, low‑cost hydropower also strengthens its ESG profile, which is increasingly a differentiator with major customers. Future upside hinges on successful expansion at NAL, development of Carolina and Moblan, and the company’s ability to secure downstream partnerships and possibly adopt newer extraction methods over time.

Summary

Taken together, Elevra looks like an early‑stage, growth‑oriented lithium platform with significant strategic assets and clear ambitions, but still‑immature financials. The income statement shows small revenue and ongoing losses as management leans into expansion. The balance sheet is lightly geared but not flush with cash, which makes funding and project execution important watchpoints. Cash flows are negative as the company builds capacity, a normal pattern but one that increases dependence on supportive markets and capital providers. Its main strengths lie in its North American footprint, large resource base, access to renewable power, and plans to move into higher‑margin lithium chemicals. The main uncertainties revolve around execution, timing, and lithium price cycles, which will ultimately determine whether today’s heavy investment translates into durable, profitable cash generation.