Logo

NB

NioCorp Developments Ltd.

NB

NioCorp Developments Ltd. • NASDAQ
$6.26 ▲ 5.56% (+0.33)
Market Cap $486.23 M
52w High $12.58
52w Low $1.32
Dividend Yield 0%
P/E -7.45
Volume 2.48M
Outstanding Shares 77.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $0 $0 ▼ $-42.7M ▼ 0% $-0.53 ▼ $-42.7M ▼
Q4-2025 $0 $5.063M ▲ $-9.587M ▼ 0% $-0.19 ▼ $-9.987M ▼
Q3-2025 $0 $2.599M ▼ $-5.297M ▼ 0% $-0.13 ▼ $-5.373M ▼
Q2-2025 $0 $2.901M ▲ $-450K ▲ 0% $-0.01 ▲ $-514K ▲
Q1-2025 $0 $918K $-2.071M 0% $-0.049 $-2.057M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $162.759M ▲ $194.685M ▲ $43.242M ▲ $151.511M ▲
Q4-2025 $25.554M ▲ $43.819M ▲ $14.658M ▲ $28.323M ▲
Q3-2025 $1.294M ▲ $18.47M ▲ $9.701M ▲ $7.531M ▲
Q2-2025 $477K ▲ $17.853M ▼ $9.646M ▼ $6.891M ▲
Q1-2025 $150K $18.323M $14.439M $2.381M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-43.507M ▼ $-6.669M ▼ $-14.078M ▼ $157.952M ▲ $137.205M ▲ $-20.691M ▼
Q4-2025 $-9.987M ▼ $-4.785M ▼ $-2K ▼ $29.047M ▲ $24.26M ▲ $-4.785M ▼
Q3-2025 $-5.375M ▼ $-3.895M ▼ $0 ▲ $4.712M ▲ $817K ▲ $-3.895M ▼
Q2-2025 $-402K ▲ $-1.313M ▼ $-4.938K ▼ $1.664M ▲ $327K ▲ $-1.318M ▼
Q1-2025 $-2.102M $-642K $0 $-1.22M $-1.862M $-642K

Five-Year Company Overview

Income Statement

Income Statement NioCorp is still in a pre‑revenue stage. Over the past several years it has not generated meaningful sales and has instead been running small but steady operating losses. These losses reflect ongoing project development, corporate costs, and technical work rather than a mature mining operation. The pattern is typical for an early‑stage resource company that is still building and de‑risking its main project, but it also means the business currently depends on external funding rather than internally generated profits.

Balance Sheet

Balance Sheet The balance sheet is very small and simple, with modest assets and limited cash on hand relative to what a full mine build would require. Equity has fluctuated and was even slightly negative at one point, underlining how thin the capital base has been historically. Debt levels have been low, which reduces financial strain but also highlights that major construction financing is still ahead. Overall, the balance sheet looks like that of a junior developer: light, fragile, and highly dependent on future capital raises and project financing.

Cash Flow

Cash Flow Cash flows are negative and modest in scale, driven by operating and project‑related spending without any revenue to offset it. Free cash flow has been consistently negative, though capital spending on physical assets has remained limited so far, suggesting the company is still mainly in the study, engineering, and permitting phases rather than full construction. This pattern underscores that NioCorp is burning cash and will likely continue to do so until a final investment decision is made, financing is secured, and production begins.

Competitive Edge

Competitive Edge On paper, NioCorp’s competitive position is unusually strong for a company of its size. The Elk Creek project is a rare North American source of niobium, scandium, titanium, and potentially rare earths, giving it strategic importance in critical minerals supply chains. Its location in the U.S. Midwest, combined with the high grade and multi‑metal nature of the deposit, could offer cost and security‑of‑supply advantages versus overseas sources. That said, all of these strengths are prospective: they hinge on the company securing funding, building the project as planned, and successfully ramping up operations in markets that are concentrated and can be volatile.

Innovation and R&D

Innovation and R&D NioCorp is leaning heavily on process innovation and sustainability as differentiators. It has developed a proprietary metallurgical flowsheet aimed at improving recovery and purity of niobium, titanium, and other products, and is exploring more efficient mining methods and partial electrification to cut operating costs and emissions. The company is also working on downstream capabilities, such as aluminum‑scandium alloys and potential rare earth separation and magnet recycling, which could move it closer to customers and capture more value. All of this R&D and process work is promising, but it remains at the pilot and feasibility stage, so execution risk is still high.

Summary

NioCorp today is best viewed as an early‑stage critical minerals developer with a potentially valuable U.S. asset, but without operating revenue and with a very light balance sheet. Its financial statements show a company in build‑up mode: small recurring losses, thin capital, and ongoing cash burn. Strategically, Elk Creek and the associated processing technologies could make NioCorp an important domestic supplier of several high‑value metals if the project is financed, built, and operated as envisioned. The key uncertainties center on securing large‑scale project funding, confirming economics in updated studies, delivering the planned technological innovations at commercial scale, and navigating concentrated, policy‑sensitive markets for critical minerals.

NEWS

November 25, 2025 · 12:35 PM UTC

U.S. Senator Pete Ricketts to Attend NioCorp Developments Dec. 5 Town Hall Event

Read more

November 21, 2025 · 5:20 PM UTC

NioCorp Adopts Limited-Duration Shareholder Rights Plan

Read more

November 20, 2025 · 4:45 PM UTC

NioCorp CEO Warns China's Dual-Use Export Licensing on Heavy Rare Earths "Isn't Going Away"

Read more

November 12, 2025 · 7:00 AM UTC

NioCorp to Participate in Morgan Stanley's National Security & Critical Materials Symposium

Read more

November 10, 2025 · 5:10 PM UTC

NioCorp Completes All Land Acquisition Needed to Launch the Elk Creek Critical Minerals Project

Read more