LIGHTBRIDGE Corp (LTBR)
Lightbridge Corporation, alongside its affiliated entities, specializes in the innovation and advancement of nuclear fuel technology, marketed under the "Lightbridge Fuel" brand. The company's core mission involves the creation and commercialization of advanced metallic nuclear fuels. These fuels are engineered to improve the durability and safety of nuclear energy generation in both current and future reactor designs, ultimately aiming to make a significant contribution to combating climate change and reducing atmospheric pollutants. Established initially as Thorium Power, Ltd., the organization rebranded as Lightbridge Corporation in September 2009. The company's headquarters are situated in Reston, Virginia.
Sector: Industrial Inorganic Chemicals
Industry: Electrical Equipment & Parts
Lightbridge Corporation
NASDAQ:LTBRIndustrials · Electrical Equipment & Parts
PrePre-market+2.62%$4.31
Close$4.20+1.19%AH$4.25+1.41%Now$4.31
Close$4.20+5.26%AH$4.25+1.41%since
Mkt Cap$162.81M
Float31.31M
O/S38.76M
PM VOL5K sh
$ Vol≈$22K
RVOL0.95×
Inst Own36.4%
SI13.8%
Dilution
Financials Summary
Revenue$0
Net Income-$19.58M
Total Assets$203.83M
Free Cash Flow-$14.28M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$202.99M
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
- 1:12Reverse splitOct 21, 201912 shares → 1
- 1:5Reverse splitJul 20, 20165 shares → 1
Balance Sheet Details
Assets$203.83M
Liabilities$847K
Accounts Receivable$0
Accounts Payable$600K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$119K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-06-30 | 2004-06-30 | 2003-06-30 | 2002-06-30 | 2001-06-30 | 2000-06-30 | 1999-06-30 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $175K | $761K | $911K | $1.31M | $1.9M | $3.68M | $6.36M | $7.59M | $10.52M | $22.22M | $0 | $0 | $0 | $0 | $0 | $4K | $4K | $174K | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | -76.9% | -16.5% | -30.5% | -31.1% | -48.3% | -42.1% | -16.2% | -27.9% | -52.7% | - | - | - | - | - | - | 0.0% | -97.9% | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $100K | $90K | $0 | $107K | $457K | $694K | $756K | $1.11M | $2.27M | $3.99M | $4.94M | $6.23M | $11.09M | $9K | $13.15M | $23K | $0 | $0 | $294K | $294K | $885K | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | -$100K | -$90K | $0 | $68K | $304K | $216K | $554K | $791K | $1.41M | $2.36M | $2.65M | $4.29M | $11.13M | -$9K | -$13.15M | -$23K | $0 | $0 | -$290K | -$290K | -$711K | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | 39.0% | 40.0% | 23.7% | 42.3% | 41.6% | 38.4% | 37.2% | 34.9% | 40.8% | 50.1% | - | - | - | - | - | -7811.2% | -7811.2% | -409.9% | - |
| Research and Development | $9.21M | $4.6M | $1.92M | $670K | $839K | $892K | $2.68M | $3.46M | $2.28M | $2.75M | $1.48M | $1.53M | $2.03M | $2.06M | $2.35M | $1.61M | $1.63M | $1.57M | $757K | $34K | $18K | $0 | $0 | $0 | $0 | $2K | $0 |
| Selling, General, and Administrative | $14.02M | $8.46M | $7.15M | $7.49M | $7.16M | $8.21M | $5.7M | $6.71M | $4.38M | $5.19M | $5.35M | $3.83M | $3.62M | $3.84M | $6.34M | $8.68M | $9.9M | $12.61M | $11M | $12.28M | $417K | $40K | $47K | $0 | $0 | $15K | $11K |
| Other | $0 | -$1K | -$31K | -$373K | -$120K | $0 | $625 | $1K | $0 | $0 | -$7K | $0 | $0 | $0 | -$1K | -$1K | $0 | $0 | -$4.74M | -$400 | $303K | $895K | $45K | $0 | $0 | -$16K | $28K |
| Total Operating Expenses | $23.23M | $13.06M | $9.04M | $7.79M | $7.88M | $9.1M | $8.37M | $10.17M | $6.67M | $7.94M | $6.83M | $5.37M | $5.64M | $5.91M | $8.69M | $10.29M | $11.53M | $14.17M | $7.02M | $12.32M | $738K | $934K | $92K | $0 | $0 | $0 | $39K |
| Operating Income (EBIT) | -$23.23M | -$13.06M | -$9.04M | -$7.79M | -$7.88M | -$9.2M | -$11.07M | -$10.17M | -$6.6M | -$7.63M | -$6.62M | -$4.82M | -$4.85M | -$4.5M | -$6.33M | -$7.64M | -$7.24M | -$3.04M | -$11.76M | -$12.32M | -$761K | -$975K | -$142K | -$290K | -$290K | -$711K | -$39K |
| Operating Margin | - | - | - | - | - | - | - | - | -3760.7% | -1003.8% | -726.8% | -367.6% | -255.3% | -122.2% | -99.6% | -100.7% | -68.8% | -13.7% | - | - | - | - | - | -7811.2% | -7808.3% | -409.9% | - |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $982K | $507K | $221K | $7K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $443K | $0 | $0 | $36K | $36K | $0 | $0 |
| Interest Income | $3.65M | $1.27M | $1.13M | $289K | $8K | $84K | $393K | $259K | $65 | $316 | $705 | $2K | $0 | $434K | $465K | $193K | $22K | $163K | $367K | $72K | $72K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $3.65M | $1.27M | $1.13M | $289K | $42K | -$5.21M | $393K | -$5.5M | -$507K | $1.29M | $2.3M | $1.16M | $266K | $438K | $459K | $76K | $7K | $193K | $309K | $608K | $54 | $105 | $50K | $266 | $290K | $0 | $0 |
| Income Before Tax (EBT) | -$19.58M | -$11.79M | -$7.91M | -$7.5M | -$7.84M | -$14.42M | -$10.68M | -$15.68M | -$7.11M | -$6.34M | -$4.32M | -$3.65M | -$4.59M | -$4.06M | -$5.87M | -$7.56M | -$7.23M | -$2.85M | -$11.45M | -$11.71M | -$761K | -$975K | -$92K | -$290K | $0 | $0 | $0 |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K | $0 | $0 | $0 | $0 | $150K | -$532 | $0 | $0 | $0 |
| Net Income | -$19.58M | -$11.79M | -$7.91M | -$7.5M | -$7.84M | -$14.42M | -$10.68M | -$15.68M | -$7.11M | -$6.34M | -$4.32M | -$4.82M | -$4.87M | -$4.06M | -$5.87M | -$7.56M | -$7.23M | -$2.86M | -$11.45M | -$11.71M | -$2.69M | -$975K | -$142K | -$326K | -$326K | -$723K | -$39K |
| Net Income Margin | - | - | - | - | - | - | - | - | -4049.7% | -834.2% | -474.2% | -367.7% | -255.9% | -110.3% | -92.3% | -99.7% | -68.8% | -12.9% | - | - | - | - | - | -8778.6% | -8777.6% | -416.8% | - |
| Supplementary Data | |||||||||||||||||||||||||||
| EPS | -0.80 | -0.81 | -0.65 | -0.69 | -1.71 | -3.59 | -3.66 | -8.54 | -8.50 | -17.78 | -14.16 | -14.18 | -21.16 | -19.49 | -28.45 | -40.76 | -43.31 | -17.15 | -69.49 | -160.11 | -18.00 | -4.48 | -7.11 | -17.39 | -18.00 | -54.00 | -4.70 |
| Diluted EPS | -0.80 | -0.81 | -0.65 | -0.69 | -1.71 | -3.59 | -3.66 | -8.54 | -8.50 | -17.78 | -14.16 | -14.18 | -21.16 | -19.49 | -28.45 | -40.80 | -43.31 | -17.40 | -69.49 | -160.11 | -18.00 | -4.48 | -7.11 | -17.39 | -18.00 | -84.20 | -4.70 |
| Weighted Average OS | 24.52M | 14.49M | 12.10M | 10.84M | 7.04M | 4.22M | 3.11M | 2.22M | 868,703 | 394,077 | 303,987 | 257,722 | 216,825 | 208,184 | 206,274 | 185,564 | 167,023 | 166,705 | 164,812 | 73,127 | 31,771 | 21,317 | 20,016 | 18,747 | 18,747 | 8,590 | 8,366 |
| EBITDA | -$19.58M | -$11.79M | -$7.91M | -$7.5M | -$8M | -$14.32M | -$10.59M | -$4.52M | -$491K | $0 | -$4.31M | -$4.8M | -$4.84M | -$4.47M | -$6.3M | -$7.61M | -$7.21M | -$3.02M | -$11.75M | -$11.7M | -$738K | -$934K | $55K | -$208K | -$253K | -$711K | -$39K |
| EBITDA Margin | - | - | - | - | - | - | - | - | -280.1% | - | -473.5% | -366.4% | -254.4% | -121.5% | -99.1% | -100.3% | -68.5% | -13.6% | - | - | - | - | - | -5589.9% | -6812.1% | -409.5% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1998 | FY 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2006-06-30 | 2004-06-30 | 2003-06-30 | 2002-06-30 | 2001-06-30 | 2000-06-30 | 1999-06-30 | 1999-06-30 |
| Assets | ||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $201.86M | $39.99M | $28.6M | $28.9M | $24.75M | $21.53M | $17.96M | $24.64M | $4.52M | $3.58M | $623K | $4.22M | $3.67M | $2.2M | $3.57M | $2.37M | $3.03M | $5.58M | $9.91M | $10.93M | $64K | $802 | $894 | $894 | $902 | $6K | $1K | $164 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16K | $1.6M | $5.15M | $10.46M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $201.86M | $39.99M | $28.6M | $28.9M | $24.75M | $21.53M | $17.96M | $24.64M | $4.52M | $3.58M | $623K | $4.22M | $3.69M | $3.8M | $8.72M | $12.83M | $3.03M | $5.58M | $9.91M | $10.93M | $64K | $802 | $894 | $894 | $902 | $6K | $1K | $164 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $400K | $93K | $10K | $388K | $140K | $469K | $426K | $602K | $277K | $991K | $2.42M | $5.36M | $0 | $0 | $9K | $0 | $0 | $0 | $0 | $0 | $1K | $1K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $713K | $324K | $207K | $115K | $0 | $0 | $0 | $0 | $491K | $605K | $326K | $325K | $555K | $554K | $552K | $550K | $652K | $650K | $372K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $202.58M | $40.32M | $28.81M | $29.02M | $24.86M | $21.7M | $18.41M | $24.77M | $5.09M | $4.66M | $1.26M | $5.22M | $4.96M | $5.53M | $9.81M | $14.74M | $6.68M | $11.98M | $10.48M | $11.32M | $73K | $802 | $894 | $894 | $902 | $35K | $3K | $2K |
| Long-Term Assets | ||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17K | $47K | $72K | $98K | $108K | $31K | $21K | $58K | $0 | $870 | $967 | $2K | $2K | $14K | $14K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $119K | $109K | $109K | $108K | $102K | $86K | $1.15M | $1.58M | $1.37M | $1.16M | $951K | $834K | $699K | $601K | $537K | $377K | $242K | $218K | $218K | $218K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $120K | $120K | $120K | $138K | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $1.14M | $529K | $483K | $345K | $0 | $0 | $0 | $0 | $491K | $982K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $150K | $0 | $0 | $0 | $0 | $25K | $0 | $0 |
| Total Long-Term Assets | $1.26M | $638K | $592K | $453K | $102K | $86K | $1.15M | $1.58M | $1.86M | $2.14M | $951K | $834K | $699K | $618K | $704K | $570K | $460K | $464K | $251K | $241K | $208K | $0 | $870 | $967 | $2K | $27K | $14K | $14K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $203.83M | $40.95M | $29.4M | $29.47M | $24.96M | $21.79M | $19.55M | $26.34M | $6.95M | $6.8M | $2.21M | $6.05M | $5.66M | $6.14M | $10.52M | $15.31M | $7.14M | $12.45M | $10.73M | $11.56M | $282K | $802 | $2K | $2K | $3K | $62K | $17K | $16K |
| Liabilities | ||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||
| Accounts Payable | $600K | $200K | $100K | $200K | $100K | $200K | $350K | $258K | $1.15M | $1.22M | $300K | $654K | $477K | $385K | $100K | $361K | $296K | $2.47M | $887K | $1.12M | $234K | $225K | $320K | $316K | $308K | $160K | $0 | $55K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5K | $5K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $98K | $0 | $0 | $3.79M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $47K | $0 | $0 | $0 | -$28K | -$18K | $0 | $218K | -$600K | -$400K | -$18K | $0 | -$377K | -$200K | $880K | $0 | $0 | $0 | $1.21M | $1.48M | $1K | $0 | $0 | $0 | $0 | $0 | $0 | -$55K |
| Total Current Liabilities | $847K | $425K | $486K | $350K | $172K | $4.58M | $350K | $476K | $1.15M | $1.22M | $1.18M | $654K | $477K | $385K | $1.68M | $2.19M | $2.16M | $5.14M | $7.13M | $2.61M | $235K | $225 | $320 | $316 | $308 | $160K | $33K | $0 |
| Long-Term Liabilities | ||||||||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6K | $10K | $0 | $0 | $419K | $388K | $323K | $735K | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $197K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $28K | $2.33M | $4.63M | $1.71M | $0 | $0 | $0 | $0 | $0 | $0 | $12.04M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $28K | $2.52M | $4.63M | $1.71M | $0 | $0 | $0 | $0 | $0 | $6K | $12.05M | $0 | $0 | $419 | $388 | $323 | $735K | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $55K |
| Total Liabilities | $847K | $425K | $486K | $350K | $172K | $4.58M | $350K | $476K | $1.15M | $1.24M | $3.71M | $5.29M | $2.19M | $385K | $1.68M | $2.19M | $2.16M | $5.14M | $7.13M | $14.66M | $235K | $225K | $739K | $704K | $631K | $895K | $33K | $55K |
| Stockholders' Equity | ||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $3K | $3K | $3K | $1K | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $33K | $19K | $14K | $12K | $10K | $7K | $3K | $3K | $13K | $7K | $4K | $18K | $15K | $13K | $12K | $12K | $45K | $125K | $889K | $257K | $122K | $86K | $20K | $38K | $15K | $15K | $335K | $335K |
| Retained Earnings | -$183.77M | -$164.18M | -$152.4M | -$144.49M | -$136.99M | -$129.16M | -$114.74M | -$103.5M | -$87.82M | -$80.72M | -$74.37M | -$70.05M | -$66.4M | -$66.21M | -$62.16M | -$56.29M | -$48.72M | -$41.49M | -$38.63M | -$27.18M | -$9.98M | -$4.14M | -$1.41M | -$1.35M | -$1.21M | -$883K | -$366K | -$389K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $30K | $934K | $141K | -$4K | $0 | -$23K | $0 | $0 | -$673 | -$1K |
| Other Stockholders' Equity | $386.72M | $204.69M | $181.3M | $173.6M | $161.77M | $146.36M | $133.94M | $129.36M | $93.6M | $86.27M | $72.87M | $70.8M | $69.85M | $71.96M | $70.98M | $69.4M | $53.65M | $48.67M | $41.34M | $23.83M | $9.9M | $3.83M | $652K | $610K | $566K | $35K | $15K | $14K |
| Total Equity | $202.99M | $40.53M | $28.91M | $29.12M | $24.79M | $17.21M | $19.2M | $25.87M | $5.79M | $5.56M | -$1.5M | $766K | $3.47M | $5.76M | $8.84M | $13.12M | $4.97M | $7.31M | $3.6M | -$3.09M | $46K | -$224K | -$737K | -$703K | -$628K | -$833K | -$16K | -$39K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $203.83M | $40.95M | $29.4M | $29.47M | $24.96M | $21.79M | $19.55M | $26.34M | $6.95M | $6.8M | $2.21M | $6.05M | $5.66M | $6.14M | $10.52M | $15.31M | $7.14M | $12.45M | $10.73M | $11.56M | $282K | $802 | $2K | $2K | $3K | $62K | $17K | $16K |
| Supplementary Data | ||||||||||||||||||||||||||||
| Total Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K | $15K | $0 | $0 | $419K | $388K | $323K | $735K | $0 | $0 |
| Net Debt | -$201.86M | -$39.99M | -$28.6M | -$28.9M | -$24.75M | -$21.53M | -$17.96M | -$24.64M | -$4.51M | -$3.58M | -$623K | -$4.22M | -$3.67M | -$2.2M | -$3.57M | -$2.37M | -$3.03M | -$5.58M | -$9.9M | -$10.91M | -$64K | -$802 | $418 | $387 | $322 | $728K | -$1K | -$164 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2006-06-30 | 2004-06-30 | 2003-06-30 | 2002-06-30 | 2001-06-30 | 2000-06-30 | 1999-06-30 | 1999-06-30 |
| Operating Activities | ||||||||||||||||||||||||||||
| Net Income | -$19.58M | -$11.79M | -$7.91M | -$7.5M | -$7.84M | -$14.42M | -$10.68M | -$15.68M | -$7.1M | -$6.35M | -$4.32M | -$3.65M | -$4.59M | -$4.06M | -$5.87M | -$7.56M | -$7.23M | -$2.86M | -$11.45M | -$11.71M | -$13.35M | -$2.69M | -$95K | -$142K | -$326K | -$723K | -$160K | -$39K |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $100K | $90K | $10.17M | $6.6M | $7.63M | $0 | $17K | $17K | $28K | $27K | $27K | $25K | $25K | $9K | $11K | $23K | $41K | $55K | $46K | $37K | $603 | $348 | $433 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $5.79M | $2.04M | $1.26M | $843K | $826K | $53K | $823K | $2.38M | $1.19M | $1.98M | $1.88M | $282K | $329K | $975K | $1.51M | $2.69M | $4.85M | $6.55M | $4.98M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $400K | -$307K | -$83K | $378K | -$249K | $329K | -$43K | $176K | -$325K | $713K | $1.43M | $2.94M | -$5.36M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $423K | $193K | $351K | $194K | -$141K | $32K | $92K | $0 | $0 | $0 | $0 | $0 | $0 | -$1.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$914K | -$49K | -$230K | -$347K | -$4.14M | $4.07M | -$11K | -$860K | -$15K | -$74K | $329K | $261K | $377K | -$184K | -$340K | $937K | -$3.14M | -$1.94M | $5.41M | -$183K | $599K | $71K | $7K | $9K | $176K | $6K | $25K | $0 |
| Total Working Capital Change | -$491K | $144K | $121K | -$153K | -$4.28M | $4.51M | -$225K | -$943K | $363K | -$323K | $659K | $218K | $553K | -$1.8M | $373K | $2.37M | -$202K | -$7.3M | $5.41M | -$183K | $599K | $71K | $7K | $9K | $176K | $6K | $25K | $0 |
| Other Non-Cash Items | $0 | $111K | $45K | $45K | $255K | $1.19M | $3.32M | -$3.36M | -$6.05M | -$8.93M | -$1.87M | -$1.18M | -$229K | -$196K | -$94K | $116K | $0 | -$30K | $59K | $8.13M | $11.48M | $2.57M | $23K | $23K | $0 | $12K | $101K | -$10K |
| Net Cash from Operating | -$14.28M | -$9.49M | -$6.48M | -$6.76M | -$11.04M | -$8.57M | -$6.67M | -$7.42M | -$5M | -$5.98M | -$3.65M | -$4.32M | -$3.92M | -$5.05M | -$4.05M | -$2.36M | -$2.56M | -$3.61M | -$997K | -$3.75M | -$1.25M | -$7K | -$10K | -$65K | -$113K | -$704K | -$34K | -$49K |
| Investing Activities | ||||||||||||||||||||||||||||
| Capital Expenditures | -$11K | $0 | -$640 | -$7K | -$16K | -$210K | -$221K | -$210K | -$207K | -$210K | -$117K | -$134K | -$99K | -$64K | -$161K | -$2K | -$15K | -$102K | -$18K | -$18K | $0 | -$40K | $0 | $0 | $0 | -$2K | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | -$3.54M | -$5.62M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13K | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$39K | -$235K | -$5M | -$10.58M | $0 | $0 | $0 | $0 | -$1.35M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14K | $1.57M | $3.98M | $10.41M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $936 | $0 | -$135K | -$24K | $0 | $0 | $0 | $0 | -$2K | $0 | $0 | $0 | $0 | $0 | -$385 |
| Net Cash from Investing | -$11K | $0 | -$640 | -$7K | -$16K | -$210K | -$3.76M | -$5.83M | -$207K | -$210K | -$117K | -$120K | $1.43M | $3.68M | $5.25M | -$10.71M | -$39K | -$102K | -$18K | -$18K | -$1.35M | -$29K | $0 | $0 | $0 | -$2K | $0 | -$385 |
| Financing Activities | ||||||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $10K | $5K | - | - | -$11K | - | - | - | - | - | - |
| Common Stock Issuance | $184.34M | $21.41M | $6.41M | $11.03M | $14.82M | $12.33M | $3.75M | $29.47M | $6.03M | $6.14M | $172K | $4.75M | $3.96M | $2K | $0 | $12.56M | $50K | $50K | $0 | $2.2M | $17.43M | $0 | $0 | $0 | $0 | $0 | $19K | $47K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$244K | $0 | $0 | $0 | -$256K | -$400K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$8.17M | -$526K | -$222K | -$105K | -$553K | $25K | $0 | $0 | $114K | $212K | -$651 | $230K | -$1K | -$2K | -$2K | $102K | -$2K | -$650K | $0 | $12.75M | $0 | -$261K | $0 | $0 | $25K | -$24K | $16K | $6K |
| Net Cash from Financing | $176.16M | $20.89M | $6.18M | $10.92M | $14.27M | $12.35M | $3.75M | $33.37M | $6.14M | $9.15M | $171K | $4.98M | $3.96M | $0 | -$2K | $12.42M | $48K | -$610K | -$5K | $14.69M | $17.03M | $8K | $9K | $65K | $108K | $710K | $35K | $53K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3K |
| Net Change in Cash | $161.87M | $11.39M | -$302K | $4.15M | $3.22M | $3.57M | -$6.68M | $20.12M | $931K | $2.96M | -$3.6M | $547K | $1.48M | -$1.37M | $1.2M | -$655K | -$2.55M | -$4.33M | -$1.02M | $10.93M | $14.43M | $802 | -$894 | $0 | -$5K | $5K | $1K | $265 |
| Supplementary Data | ||||||||||||||||||||||||||||
| Operating Cash Flow | -$14.28M | -$9.49M | -$6.48M | -$6.76M | -$11.04M | -$8.57M | -$6.67M | -$7.42M | -$5M | -$5.98M | -$3.65M | -$4.32M | -$3.92M | -$5.05M | -$4.05M | -$2.36M | -$2.56M | -$3.61M | -$997K | -$3.75M | -$1.25M | -$7K | -$10K | -$65K | -$113K | -$704K | -$34K | -$49K |
| Capital Expenditure | $0 | -$4 | -$640 | -$7K | -$16K | -$210K | -$221K | -$210K | -$207K | -$210K | -$117K | -$134K | -$99K | -$64K | -$161K | -$137K | -$39K | -$102K | -$18K | -$18K | $0 | $0 | $0 | $0 | $0 | -$2K | $0 | $0 |
| Free Cash Flow | -$14.28M | -$9.49M | -$6.49M | -$6.77M | -$11.05M | -$8.78M | -$6.89M | -$7.63M | -$5.21M | -$6.19M | -$3.77M | -$4.45M | -$4.01M | -$5.12M | -$4.21M | -$2.5M | -$2.6M | -$3.72M | -$1.02M | -$3.76M | -$1.25M | -$7K | -$10K | -$65K | -$113K | -$706K | -$34K | -$49K |
| Cash at Beginning | $39.99M | $28.6M | $28.9M | $24.75M | $21.53M | $17.96M | $24.64M | $4.52M | $3.58M | $623K | $4.22M | $3.67M | $2.2M | $3.57M | $2.37M | $3.03M | $5.58M | $9.91M | $10.93M | $283 | $802 | $894 | $894 | $902 | $6K | $1K | $0 | $1K |
| Cash at End | $201.86M | $39.99M | $28.6M | $28.9M | $24.75M | $21.53M | $17.96M | $24.64M | $4.52M | $3.58M | $623K | $4.22M | $3.67M | $2.2M | $3.57M | $2.37M | $3.03M | $5.58M | $9.91M | $10.93M | $14.43M | $802 | $0 | $894 | $902 | $6K | $1K | $1K |