Q3 2024 Lightbridge Corp Earnings Call Transcript
Key Points
- Lightbridge Corp (LTBR) is advancing nuclear fuel technology aimed at making nuclear energy safer, more efficient, and cost-effective.
- The company's Lightbridge Fuel is designed to increase power output by 10% to 17% in existing reactors and up to 30% in new reactors.
- Lightbridge Fuel operates at a cooler temperature, enhancing safety by reducing the risk of overheating.
- The company is involved in studies funded by the US Department of Energy to evaluate the use of its fuel in small modular reactors, indicating strong governmental support.
- Lightbridge Corp (LTBR) has a solid working capital position of $25.9 million, providing financial flexibility for near-term fuel development expenditures.
- The company reported a net loss of $2.7 million for the third quarter of 2024, an increase from the $1.8 million loss in the same period of 2023.
- Research and development expenses increased significantly, from $0.5 million in Q3 2023 to $1.3 million in Q3 2024, indicating higher operational costs.
- General and administrative expenses also rose slightly, reflecting increased employee compensation and stock-based compensation.
- Cash and cash equivalents decreased by $2 million over the first nine months of 2024, highlighting cash flow challenges.
- The company anticipates the need for continued government funding and strategic alliances to support long-term fuel development and commercialization.
Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and third-quarter 2024 conference call. Please note that today's call is being recorded.
It is now my pleasure to introduce Matthew Abenante, Director of Investor Relations for Lightbridge Corporation. Please go ahead.
Thank you, and thanks to all of you for joining us today. The company's earnings press release was distributed yesterday and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com. Joining us on the call today is Seth Grae, Chief Executive Officer; along with Andrey Mushakov, Executive Vice President for Nuclear Operations; Scott Holcombe, Vice President of Engineering; Larry Goldman, Chief Financial Officer; and Sherrie Holloway, Controller.
I would like to remind our listeners that any statements on this call that are not historical facts are forward-looking statements.
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