Lightbridge Corporation (LTBR) Bundle
A Brief History of Lightbridge Corporation
Lightbridge Corporation, a leader in nuclear fuel technology, has made significant strides in the development and commercialization of advanced nuclear fuels. As of 2024, the company continues to focus on enhancing the safety and efficiency of nuclear energy through its proprietary Lightbridge Fuel™ technology.
Company Overview
Founded in 2007, Lightbridge Corporation is headquartered in Reston, Virginia. The company specializes in the research, development, and commercialization of innovative nuclear fuel designs. Lightbridge’s approach aims to improve fuel performance and reduce waste, thereby supporting the global shift towards cleaner energy sources.
Financial Performance
As of September 30, 2024, Lightbridge Corporation reported the following financial metrics:
| Metric | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $26,634,951 | $28,598,445 |
| Total Assets | $27,620,613 | $29,397,373 |
| Total Liabilities | $1,159,566 | $486,326 |
| Total Stockholders' Equity | $26,461,047 | $28,911,047 |
| Net Loss | $(7,850,379) | $(5,538,632) |
For the nine months ended September 30, 2024, total operating expenses reached $8,858,603, compared to $6,439,539 for the same period in 2023, reflecting a significant increase due to heightened research and development activities.
Research and Development
Lightbridge's commitment to R&D is evident in its financials, with R&D expenses totaling $3,232,036 for the nine months ended September 30, 2024. This is a notable increase from $1,367,650 in the previous year. The company is actively involved in multiple projects, including collaborations with the Idaho National Laboratory (INL) and Centrus Energy, focusing on innovative fuel solutions.
| Project | R&D Expenses (Nine Months Ended September 30) |
|---|---|
| INL Project | $1,100,000 |
| Romania Feasibility Study | $100,000 |
| Centrus Energy FEED Study | $300,000 |
| Other R&D Expenses | $1,800,000 |
Stock Performance
Lightbridge's stock performance has been volatile, reflecting the company's ongoing development phase and market conditions. The closing price per share ranged between $2.49 and $2.62 as of September 30, 2024.
Future Outlook
Looking ahead, Lightbridge Corporation anticipates investing approximately $6.8 million in R&D over the next 12 to 15 months. This funding will support the advancement of its nuclear fuel technology and its commercialization efforts.
As of now, the company has approximately $26.9 million in working capital, which is projected to cover its cash requirements for the next 12 months.
A Who Owns Lightbridge Corporation (LTBR)
Current Ownership Structure
As of September 30, 2024, Lightbridge Corporation has a total of 15,276,331 shares of common stock outstanding. The company has experienced several issuances of shares in 2024, impacting the ownership structure significantly.
Major Shareholders
The following table outlines the major shareholders of Lightbridge Corporation as of 2024:
| Shareholder | Shares Owned | Percentage of Ownership | Type of Ownership |
|---|---|---|---|
| Institutional Investors | Approx. 3,500,000 | 22.9% | Institutional |
| Insider Ownership | Approx. 1,200,000 | 7.9% | Insider |
| Retail Investors | Approx. 10,576,331 | 69.2% | Public |
Institutional Ownership
Institutional investors hold a significant portion of Lightbridge Corporation shares, which reflects confidence in the company's potential. Key institutional investors include:
- BlackRock, Inc. - Approx. 1,000,000 shares
- Vanguard Group, Inc. - Approx. 800,000 shares
- State Street Corporation - Approx. 700,000 shares
Insider Ownership Details
Insider ownership is crucial as it indicates the commitment of the management team. The following insiders hold shares:
- President & CEO: Dr. Seth Grae - 400,000 shares
- Board Member: Dr. Robert H. Kauffman - 300,000 shares
- Board Member: Dr. Michael A. Kearney - 200,000 shares
Stock Performance and Market Trends
The stock price of Lightbridge Corporation has fluctuated throughout 2024, with a closing price range between $2.49 and $2.62 per share. The company reported a net loss of $7,850,379 for the nine months ended September 30, 2024. The operating loss for the same period was $8,858,603.
Financial Position
As of September 30, 2024, Lightbridge Corporation reported total assets of $27,620,613 and total stockholders' equity of $26,461,047. The company has approximately $26.9 million in working capital.
Recent Share Issuances
In 2024, the company has conducted several share issuances to raise capital, including:
- Registered offerings totaling approximately $2.5 million net proceeds
- At-the-market (ATM) offerings resulting in about $3.7 million raised
Future Ownership Considerations
Lightbridge Corporation may seek additional funding through equity or debt financing, which could impact existing shareholders through dilution. The management remains focused on strategic partnerships and government funding to support R&D activities.
Lightbridge Corporation (LTBR) Mission Statement
Mission and Vision
Lightbridge Corporation is committed to developing and commercializing innovative nuclear fuel technology that enhances the safety, sustainability, and efficiency of nuclear energy. The company aims to lead the transition to advanced nuclear energy solutions, particularly through its proprietary Lightbridge Fuel™, which promises to improve fuel efficiency and reduce waste.
Strategic Objectives
- To advance the development of Lightbridge Fuel™ through collaborative research and development efforts with national laboratories and industry partners.
- To achieve regulatory approval for the commercial deployment of its fuel technology.
- To foster strategic alliances with government bodies and private sector partners to support ongoing R&D activities and commercialization efforts.
Financial Overview
As of September 30, 2024, Lightbridge Corporation reported significant financial metrics that reflect its ongoing commitment to R&D and operational expansion:
| Financial Metrics | Q3 2024 | Q3 2023 | Nine Months Ended Sept 30, 2024 | Nine Months Ended Sept 30, 2023 |
|---|---|---|---|---|
| Net Loss | $2,656,161 | $1,839,828 | $7,850,379 | $5,538,632 |
| Net Loss Per Share | $0.19 | $0.15 | $0.57 | $0.47 |
| Cash and Cash Equivalents | $26,634,951 | $29,235,892 | $26,634,951 | $29,235,892 |
| Research and Development Expenses | $1,298,601 | $552,751 | $3,232,036 | $1,367,650 |
| General and Administrative Expenses | $1,676,209 | $1,609,142 | $5,626,567 | $5,071,889 |
Research and Development Focus
Lightbridge is actively engaged in several key projects aimed at enhancing its fuel technology:
| Project | R&D Expenses (2024) | R&D Expenses (2023) |
|---|---|---|
| INL Project | $1,100,000 | $500,000 |
| Romania Feasibility Study | $100,000 | $0 |
| Centrus Energy FEED Study | $300,000 | $0 |
| Other R&D Expenses | $500,000 | $300,000 |
| Total R&D Expenses | $3,200,000 | $1,300,000 |
Capital Structure and Funding
As of September 30, 2024, Lightbridge Corporation maintained a strong capital position:
| Capital Metrics | Amount |
|---|---|
| Total Assets | $27,620,613 |
| Total Liabilities | $1,159,566 |
| Total Stockholders’ Equity | $26,461,047 |
| Working Capital | $26,900,000 |
Lightbridge's strategic focus on innovation in nuclear fuel technology, supported by robust financial management and ongoing R&D efforts, positions the company to capitalize on future opportunities in the nuclear energy sector.
How Lightbridge Corporation (LTBR) Works
Business Overview
Lightbridge Corporation is focused on developing next-generation nuclear fuel technology. The company's primary product, Lightbridge Fuel™, aims to enhance the safety and economics of both existing and new nuclear power plants. The unique properties of Lightbridge Fuel™, particularly its superior heat transfer capabilities, are designed to provide significant operational advantages over traditional nuclear fuels.
Financial Performance
As of September 30, 2024, Lightbridge Corporation reported the following financial metrics:
| Metric | Amount (2024) |
|---|---|
| Cash and Cash Equivalents | $26,634,951 |
| Total Assets | $27,620,613 |
| Total Liabilities | $1,159,566 |
| Total Stockholders' Equity | $26,461,047 |
| Net Loss for Q3 2024 | ($2,656,161) |
| Net Loss for Nine Months Ended September 30, 2024 | ($7,850,379) |
| Net Loss Per Common Share (Basic and Diluted) | ($0.19) |
| Weighted Average Number of Common Shares Outstanding | 14,189,787 |
Research and Development Activities
Lightbridge Corporation invests significantly in research and development, particularly in the advancement of Lightbridge Fuel™. For the nine months ended September 30, 2024, R&D expenses totaled $3.2 million, compared to $1.3 million for the same period in 2023.
| R&D Project | Expense (2024) | Expense (2023) |
|---|---|---|
| INL Project | $1.1 million | $0.5 million |
| Romania Feasibility Study | $0.1 million | $0 million |
| Centrus Energy FEED Study | $0.3 million | $0 million |
| Allocated Employee Compensation and Stock-Based Compensation | $1.2 million | $0.5 million |
| Other Outside R&D Expenses | $0.5 million | $0.3 million |
Operating Expenses
For the three months ended September 30, 2024, operating expenses were reported as follows:
| Expense Type | Amount (2024) |
|---|---|
| General and Administrative | $1,676,209 |
| Research and Development | $1,298,601 |
| Total Operating Expenses | $2,974,810 |
Liquidity and Capital Resources
As of September 30, 2024, Lightbridge maintained a working capital of approximately $26.9 million. The company anticipates total expenditures of around $14.1 million over the next 12 months, primarily for R&D and general administrative expenses. Cash flow projections indicate continued negative cash flows from operations.
Stockholder Equity and Financing
Lightbridge Corporation has utilized at-the-market (ATM) offerings to raise capital. During the nine months ended September 30, 2024, the company raised net proceeds of $3.7 million from the sale of approximately 1.4 million shares of common stock.
Current Share Structure
As of September 30, 2024, the company had the following share structure:
| Share Type | Outstanding Shares |
|---|---|
| Common Shares | 15,276,331 |
| Restricted Stock Awards (RSAs) | 545,992 |
| Stock Options | 547,362 |
How Lightbridge Corporation (LTBR) Makes Money
Business Model Overview
Lightbridge Corporation focuses on the development and commercialization of advanced nuclear fuel technology. Their primary product is the Lightbridge Fuel™, which is designed to enhance the efficiency and safety of nuclear reactors.
Revenue Generation
As of September 30, 2024, Lightbridge Corporation reported no revenue from operations, reflecting its current stage as a development-focused entity without commercial sales.
Funding Sources
- Equity Financing: The company utilizes an At-the-Market (ATM) offering to raise capital. In the nine months ended September 30, 2024, they raised net proceeds of $3.7 million from the sale of approximately 1.4 million shares.
- Government and Strategic Partnerships: Lightbridge aims to secure funding and support for its R&D activities through collaborations with government entities and industry partners.
Research and Development Expenses
Lightbridge invests significantly in R&D to develop its nuclear fuel technology. For the nine months ended September 30, 2024, total R&D expenses amounted to $3.2 million, compared to $1.3 million for the same period in 2023.
| R&D Expense Category | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| INL Project | $1.1 million | $0.5 million |
| Romania Feasibility Study | $0.1 million | $0 |
| Centrus Energy FEED Study | $0.3 million | $0 |
| Allocated Employee Compensation | $1.2 million | $0.5 million |
| Other Outside R&D Expenses | $0.5 million | $0.3 million |
| Total R&D Expenses | $3.2 million | $1.3 million |
Operating Losses
Lightbridge Corporation has been incurring significant operating losses. For the nine months ended September 30, 2024, the company reported a net loss of $7.85 million, compared to a loss of $5.54 million for the same period in 2023.
Cash Flow and Liquidity
As of September 30, 2024, Lightbridge had cash and cash equivalents of $26.6 million, down from $28.6 million at the end of 2023. The net cash used in operating activities for the nine months ended September 30, 2024, was $5.67 million.
| Cash Flow Statement (in millions) | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Net Cash Used in Operating Activities | $(5.67) | $(4.14) |
| Net Cash Used in Investing Activities | $0 | $0 |
| Net Cash Provided by Financing Activities | $3.7 | $4.5 |
| Net Cash Outflow | $(2.0) | $0.3 |
Future Financial Outlook
The company anticipates that its R&D expenditures will continue to increase as it works towards commercializing its nuclear fuel technology. Future funding will be critical to support these initiatives.
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Article updated on 8 Nov 2024
Resources:
- Lightbridge Corporation (LTBR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Lightbridge Corporation (LTBR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Lightbridge Corporation (LTBR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.