Logo

FMST

Foremost Clean Energy Ltd.

FMST

Foremost Clean Energy Ltd. • NASDAQ
$2.97 ▲ 4.95% (+0.14)
Market Cap $36.98 M
52w High $5.74
52w Low $0.55
Dividend Yield 0%
P/E -18.56
Volume 125.63K
Outstanding Shares 12.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $0 $3.186M ▲ $-2.649M ▼ 0% $-0.21 ▼ $-2.646M ▼
Q1-2026 $0 $1.768M ▲ $405.838K ▼ 0% $0.037 ▼ $418.079K ▼
Q4-2025 $0 $1.295M ▼ $778.565K ▲ 0% $0.089 ▲ $791.262K ▲
Q3-2025 $0 $2.138M ▲ $-2.013M ▼ 0% $-0.23 ▲ $-1.993M ▼
Q2-2025 $0 $1.32M $-1.524M 0% $-0.28 $-1.298M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $6.561M ▼ $35.585M ▲ $2.69M ▼ $32.895M ▲
Q1-2026 $7.748M ▲ $32.731M ▲ $2.87M ▼ $29.861M ▲
Q4-2025 $5.005M ▼ $27.741M ▼ $3.249M ▼ $24.492M ▼
Q3-2025 $6.376M ▲ $29.64M ▲ $3.498M ▼ $26.143M ▲
Q2-2025 $167.305K $16.599M $4.238M $12.361M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-2.649M ▼ $-2.827M ▼ $-1.225M ▲ $4.72M ▼ $668.298K ▼ $-2.902M ▼
Q1-2026 $405.838K ▼ $-1.613M ▼ $-2.233M ▼ $4.733M ▲ $887.331K ▲ $-1.763M ▼
Q4-2025 $778.565K ▲ $192.205K ▲ $-1.528M ▼ $-35.29K ▼ $-1.371M ▼ $191.567K ▲
Q3-2025 $-2.013M ▼ $-2.356M ▼ $-648.056K ▼ $9.212M ▲ $6.209M ▲ $-2.445M ▼
Q2-2025 $-1.524M $-44.748K $-292.936K $-10.835K $-348.519K $121.56K

Five-Year Company Overview

Income Statement

Income Statement Foremost Clean Energy is still in a pure exploration, pre-revenue phase. The income statement shows no meaningful sales or gross profit yet, which is normal for an early-stage resource explorer. Earnings per share have swung between small profits and losses, but overall the pattern points to a company that is spending to advance projects without any operating income to offset those costs. Profitability is not yet a relevant metric here; the key point is that the business model is still entirely focused on exploration and project development rather than generating recurring revenue.

Balance Sheet

Balance Sheet The balance sheet is extremely small and very simple. Assets and equity are modest, and there is essentially no reported debt, which reduces financial leverage risk but also reflects the early scale of the business. Reported cash balances are near zero in this data set, implying the company likely depends on periodic capital raises or new funding commitments to keep operations moving. In practical terms, the balance sheet looks thin and fragile, as is common with junior exploration companies, and financial flexibility will depend heavily on access to external capital.

Cash Flow

Cash Flow Cash flow figures are minimal, with no meaningful operating cash inflows and only modest outflows that show up as negative free cash flow in the most recent period. There is no sign yet of major investment spending on equipment or infrastructure, which fits with an exploration-focused company still in the early stages of drilling and surveying. The main takeaway is that the business burns cash, even if at a relatively low absolute level, and will likely need ongoing funding to sustain and expand exploration activities.

Competitive Edge

Competitive Edge Competitively, Foremost is trying to stand out through its land position and partnerships rather than through scale or production. Its focus on uranium and lithium in politically stable regions gives it exposure to two key clean-energy materials, and its alliance with Denison Mines adds technical depth, data access, and industry credibility. The large, strategically located land package in the Athabasca Basin offers many potential targets, which is a strength. On the risk side, the company is one of many junior explorers chasing similar themes, has no production, and depends heavily on exploration success, commodity prices, and continued partner support to maintain its position.

Innovation and R&D

Innovation and R&D Innovation here is about smarter exploration, not proprietary lab research. Foremost is using advanced geophysical tools, such as ambient noise tomography and large-scale airborne surveys, to refine where it drills, with the goal of reducing wasted spending and increasing the odds of discovery. It also integrates historical data from partners like Denison Mines into a data-driven targeting process. While these methods are available to others and not unique to Foremost, the thoughtful application and partnership-based approach can create an edge in identifying promising uranium and lithium deposits more efficiently than traditional methods.

Summary

Foremost Clean Energy is an exploration-stage, pre-revenue company with a very lean balance sheet and ongoing cash burn, typical of early-stage resource explorers. Financially, it is small, non-profitable, and reliant on external funding, so outcomes are highly uncertain. Strategically, its strengths lie in a focused bet on uranium and lithium, a significant land position in a world-class uranium region, and a key partnership with an established operator. Its use of modern exploration technology and data integration supports a more targeted approach to discovery. Overall, this is an early, high-uncertainty story where value will depend heavily on exploration results, the strength of its partnerships, and future access to capital rather than on current financial performance.

NEWS

November 10, 2025 · 9:00 AM UTC

Foremost Clean Energy Reports High-Grade Gold Results from First Two Holes of 2025 Jean Lake Drill Program Highlighted by 10.7 g/t Au over 5.6 m Including 82 g/t Au over 0.7 m

Read more

October 23, 2025 · 8:00 AM UTC

Foremost Clean Energy Announces Participation in Red Cloud's 2025 Fall Mining Showcase in Toronto

Read more

September 22, 2025 · 5:00 AM UTC

Foremost Clean Energy Engages with Interactive Offers LLC

Read more

September 12, 2025 · 5:54 PM UTC

Denison to File Early Warning Report in Respect of Foremost Clean Energy Ltd.

Read more

September 2, 2025 · 9:00 AM UTC

Foremost Clean Energy Announces Commencement of a 2,500m Diamond Drill Program at its Murphy Lake South Uranium Property, Athabasca Basin, Saskatchewan

Read more