Logo

FEAM

5E Advanced Materials Inc.

FEAM

5E Advanced Materials Inc. • NASDAQ
$3.99 ▲ 2.05% (+0.08)
Market Cap $89.55 M
52w High $24.84
52w Low $2.82
Dividend Yield 0%
P/E 66.5
Volume 48.40K
Outstanding Shares 22.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $0 ▼ $10.735M ▲ $-10.69M ▼ 0% ▲ $-0.51 ▼ $-5.352M ▼
Q4-2025 $7.128M ▲ $9.575M ▲ $-9.714M ▼ -136.279% ▼ $-0.49 ▼ $-4.511M ▼
Q3-2025 $0 $9.307M ▼ $5.28M ▲ 0% $0.73 ▲ $12.173M ▲
Q2-2025 $0 $9.951M ▼ $-14.262M ▼ 0% $-4.76 ▼ $-6.802M ▼
Q1-2025 $0 $11.324M $-12.859M 0% $-0.2 $-5.693M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $5.468M ▲ $68.719M ▼ $8.522M ▲ $60.197M ▼
Q4-2025 $3.836M ▼ $70.729M ▼ $7.539M ▲ $63.19M ▼
Q3-2025 $4.032M ▲ $73.409M ▼ $7.147M ▼ $66.262M ▲
Q2-2025 $824K ▼ $74.831M ▼ $83.228M ▼ $-8.397M ▼
Q1-2025 $6.851M $85.774M $83.68M $2.094M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-10.69M ▼ $-4.298M ▲ $-1.446M ▼ $7.376M ▲ $1.632M ▲ $-5.744M ▲
Q4-2025 $-9.714M ▼ $-6.233M ▼ $-574K ▲ $6.611M ▼ $-196K ▼ $-6.817M ▼
Q3-2025 $5.28M ▲ $-5.73M ▼ $-614K ▼ $9.552M ▲ $3.208M ▲ $-4.967M ▲
Q2-2025 $-14.262M ▼ $-5.302M ▲ $-381K ▲ $-344K ▼ $-6.027M ▼ $-5.683M ▲
Q1-2025 $-12.859M $-6.375M $-400K $8.73M $1.955M $-6.861M

Five-Year Company Overview

Income Statement

Income Statement The company is still in a pre‑revenue phase, with no meaningful sales yet and recurring losses each year. Costs are mainly tied to project development, overhead, and early operations rather than mature production. Losses have been fairly consistent over time, reflecting ongoing spending to advance the Fort Cady project rather than any collapse in performance. The per‑share loss looks larger recently, but that is heavily influenced by the reverse stock split and does not necessarily mean the underlying cash burn suddenly spiked. Overall, the income statement shows an early‑stage development business that has not yet turned its asset base into operating income.

Balance Sheet

Balance Sheet The balance sheet is small and relatively thin, which is typical for a single‑project development company. Assets have crept up as work at Fort Cady advances, but cash has trended down and is now very limited, highlighting a reliance on new funding to keep moving forward. Debt has appeared and increased, while equity has been diluted and fluctuates as capital is raised and losses accumulate. The result is a balance sheet with modest assets, a constrained cash cushion, and growing financial leverage, leaving little room for major setbacks without additional financing.

Cash Flow

Cash Flow Cash flow statements show steady cash outflows from operations with no offsetting inflows from sales, underscoring the pre‑revenue, build‑out nature of the business. Free cash flow has been negative for several years, driven by both operating burn and investment in plant and equipment. Capital spending has been meaningful but not extreme, indicating a phased, step‑by‑step approach to building capacity. Still, the pattern is clear: this is a cash‑consuming story that depends on external funding until commercial production meaningfully ramps and customers provide stable cash inflows.

Competitive Edge

Competitive Edge FEAM’s competitive position is built around a large U.S. boron deposit, its in‑situ recovery technology, and the strategic importance of boron as a critical mineral. In a market dominated by a Turkish state producer and a major diversified miner, FEAM offers a more focused, “pure play” exposure to boron and related materials. Its California location is a plus for U.S. and Asia‑Pacific customers worried about supply security and geopolitics, and the critical‑mineral designation may support relationships with government and industrial buyers. However, the company remains a single‑asset, development‑stage producer facing execution risk, permitting and technical risk, and exposure to future boron and lithium price swings, all while competing against much larger, well‑funded incumbents.

Innovation and R&D

Innovation and R&D Innovation is a central part of FEAM’s story. The in‑situ recovery approach aims to reduce surface disturbance, lower operating costs, and support scalable, modular growth, which, if fully proven at scale, could be a real differentiator. The pilot and early production activities are important technical de‑risking steps that appear to support the basic concept, including the presence of lithium in solution. Beyond mining, FEAM is investing in downstream and advanced materials research, such as boron‑enhanced magnets with Georgetown University and the integration of lithium carbonate production and calcium chloride by‑products. This R&D and process design work could open higher‑value markets and strengthen margins over time, but it also adds complexity and lengthens the path to full commercial maturity.

Summary

Overall, FEAM is an early‑stage, single‑asset advanced materials developer: no real revenue yet, consistent operating losses, and a balance sheet that relies on continued external funding. The company’s appeal rests on a strategically important U.S. boron resource, potentially lower‑impact extraction technology, and ambitions to move up into higher‑value boron and lithium products. The upside case depends on successful scale‑up, securing long‑term customer contracts, and managing costs and capital needs carefully. The downside risks center on financing constraints, technical or permitting hurdles, and the challenge of competing with entrenched global players. The story is high‑potential but also high‑uncertainty, with outcomes heavily dependent on execution over the next several years.

NEWS

November 19, 2025 · 8:00 AM UTC

5E Advanced Materials Announces Substantial Resource Upgrade; Total Measured and Indicated Borate Resources Increase 61% and Lithium Resources Increase 54%

Read more

November 14, 2025 · 8:00 AM UTC

5E Advanced Materials Hosts Q1 Call; Highlights Federal Recognition of Boron, Customer Validation, and Progress Toward 2026 FID

Read more

November 10, 2025 · 8:00 AM UTC

5E Advanced Materials to Host Q1 Call 

Read more

November 7, 2025 · 8:00 AM UTC

5E Advanced Materials Welcomes U.S. Designation of Boron as a Critical Mineral, Strengthening Fort Cady Project

Read more

October 21, 2025 · 8:00 AM UTC

5E Advanced Materials to Present at the ThinkEquity Conference in New York

Read more