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LTBR

Lightbridge Corporation

LTBR

Lightbridge Corporation • NASDAQ
$16.26 ▲ 7.19% (+1.09)
Market Cap $421.35 M
52w High $31.34
52w Low $4.37
Dividend Yield 0%
P/E -20.58
Volume 510.00K
Outstanding Shares 25.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $5.204M ▲ $-4.099M ▼ 0% $-0.16 $1.105M ▲
Q2-2025 $0 $4.143M ▼ $-3.52M ▲ 0% $-0.16 ▲ $-4.143M ▲
Q1-2025 $0 $5.146M ▲ $-4.771M ▼ 0% $-0.24 ▲ $-5.146M ▼
Q4-2024 $0 $4.201M ▲ $-3.937M ▼ 0% $-0.27 ▼ $-4.201M ▼
Q3-2024 $0 $2.975M $-2.656M 0% $-0.19 $-2.975M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $153.33M ▲ $155.065M ▲ $1.56M ▲ $153.505M ▲
Q2-2025 $97.901M ▲ $98.969M ▲ $1.194M ▲ $97.775M ▲
Q1-2025 $56.93M ▲ $58.288M ▲ $966.209K ▲ $57.321M ▲
Q4-2024 $39.991M ▲ $40.953M ▲ $424.585K ▼ $40.528M ▲
Q3-2024 $26.635M $27.621M $1.16M $26.461M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.099M ▼ $-2.51M ▼ $0 ▲ $57.939M ▲ $55.429M ▲ $-2.51M ▼
Q2-2025 $-3.52M ▲ $-2.305M ▲ $-6.116K ▼ $43.283M ▲ $40.971M ▲ $-2.311M ▲
Q1-2025 $-4.771M ▼ $-3.3M ▲ $0 $20.239M ▲ $16.939M ▲ $-3.3M ▲
Q4-2024 $-3.937M ▼ $-3.824M ▼ $0 $17.18M ▲ $13.356M ▲ $-3.824M ▼
Q3-2024 $-2.656M $-1.944M $0 $1.512M $-432.087K $-1.944M

Revenue by Products

Product Q1-2017Q2-2017Q3-2017Q4-2017
Consulting
Consulting
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Lightbridge is still a development-stage company with essentially no revenue from product sales. Its income statement is dominated by research, personnel, and overhead costs, which show up as steady operating losses each year. The losses are relatively stable rather than exploding, which suggests disciplined cost control, but the business is not yet generating commercial income to offset those expenses. For now, the income statement is a picture of an R&D platform being funded, not a going concern with recurring sales or operating profits.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean. The company holds most of its assets in cash, with no financial debt, which reduces financial risk but also underscores its dependence on external funding over time. Equity is small, reflecting Lightbridge’s early-stage nature and cumulative losses, but the absence of leverage gives it flexibility as long as it can continue to access capital markets or non-dilutive funding such as grants. The main balance-sheet risk is not current strain, but the need to replenish cash if commercialization takes longer than expected.

Cash Flow

Cash Flow Cash flows are consistently negative from operations, which is normal for a company at this stage that is spending on development but not yet selling products. There is very little spending on physical assets, so most cash outflow is tied to people and R&D activities rather than large infrastructure. This means the burn rate is somewhat controllable in the near term, but the company still relies on periodic capital raises or partnerships to sustain its work. Investors should see the current cash flow profile as a sign of a long-term project rather than a short-term cash generator.

Competitive Edge

Competitive Edge Lightbridge operates in a niche but potentially important segment of the nuclear industry, focused on advanced fuel that could improve safety and efficiency in existing and future reactors. Its competitive position rests on a sizeable portfolio of patents, specialized manufacturing know-how, and deep partnerships with top-tier research institutions and government labs. High regulatory barriers and long qualification timelines in nuclear energy work as both a moat and a hurdle: they slow down competitors but also delay Lightbridge’s own commercialization. The company’s early start, technical depth, and regulatory engagement give it a head start, but dominant fuel vendors, utility conservatism, and regulatory uncertainty remain meaningful competitive challenges.

Innovation and R&D

Innovation and R&D Innovation is the core of Lightbridge’s story. The company is developing a metallic fuel design intended to run cooler, extract more energy from each fuel load, and enhance safety compared to traditional nuclear fuel. Its work includes novel fuel geometry, advanced materials, and a proprietary fabrication process. Lightbridge is tightly integrated into the U.S. nuclear R&D ecosystem, with projects at national labs and major universities, and is exploring applications in both large reactors and emerging small modular reactors. Key milestones ahead revolve around irradiation testing, scaling fabrication, and navigating regulatory approvals. The upside of this R&D program is significant if the technology proves out and gains acceptance, but the timeline is long and full of technical and regulatory uncertainty.

Summary

Lightbridge is best viewed as a high-risk, early-stage nuclear technology developer rather than a conventional industrial manufacturer. Financially, it has no revenue and steady, manageable losses funded by a modest cash base and no debt. Its value proposition hinges on the successful development, testing, licensing, and eventual adoption of its advanced nuclear fuel, supported by strong intellectual property and prominent partnerships. The main strengths lie in its technology, collaborations, and clean balance sheet; the main risks are the long and uncertain path to commercialization, ongoing cash burn, regulatory complexity, and the conservative nature of nuclear utility customers. This is a long-duration, innovation-driven story, not a near-term earnings play.

NEWS

November 19, 2025 · 7:00 AM UTC

Lightbridge Announces Start of Irradiation Testing of its Enriched Uranium-Zirconium Alloy Samples in Advanced Test Reactor at Idaho National Laboratory

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November 5, 2025 · 4:05 PM UTC

Lightbridge Provides Business Update and Announces Third Quarter 2025 Financial Results

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November 5, 2025 · 9:00 AM UTC

Lightbridge Presents Three Technical Papers on Lightbridge Fuel Technology at American Nuclear Society's TopFuel 2025 Conference

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November 3, 2025 · 7:00 AM UTC

Lightbridge Receives Notice of Allowance on New Patent from the Eurasian Patent Office

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October 21, 2025 · 7:00 AM UTC

Lightbridge to Hold Business Update & Third Quarter 2025 Earnings Conference Call on Thursday, November 6 at 4 p.m. ET

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