Lightbridge Corporation Q2 FY2025 earnings call

• Achieved several significant milestones at Idaho National Laboratory, including co-extrusion of an 8-foot long rod, completion of final review of experiment design for irradiation testing, and successful fabrication of enriched uranium-zirconium alloy coupon samples.
• Entered into a memorandum of understanding with Oklo in January, now planning to jointly evaluate colocation of Lightbridge Fuel fabrication facility within Oklo's facilities.
• Proprietary co-extrusion manufacturing process demonstrated in February, validating fabrication methodology and scalability.
• Completed final review of experiment design for irradiation testing in June, with INL approval confirming compliance with standards.
• Fabricated enriched uranium-zirconium alloy coupon samples matching commercial product composition, using FAST method for accelerated irradiation testing.
• Outlined development road map including hiring nuclear engineering personnel, developing fabrication process, site selection for fabrication facility, and thermal hydraulic modeling.

Net loss was $3.5 million for the second quarter ended June 30, 2025, compared to $2.4 million for the second quarter ended June 30, 2024. Total R&D expenses amounted to $1.6 million for the second quarter ended June 30, 2025 compared to $0.9 million for the same period in 2024, an increase of $0.7 million due to increased R&D activities for Lightbridge Fuel. Total G&A expenses were $2.5 million for the second quarter of 2025 compared to $1.8 million in 2024, an increase of $0.7 million. Total other income was $0.6 million for the second quarter of 2025 compared to $0.3 million in 2024. Cash and cash equivalents totaled $97.9 million at the end of the second quarter of 2025, and working capital was $97.2 million at June 30, 2025.

• Political landscape supportive of nuclear energy, with President Trump's Executive Orders aligning with Lightbridge Fuel's capabilities for power uprates in existing reactors.
• Global momentum for nuclear energy growing, with multiple pathways for Lightbridge Fuel deployment across reactor types.
• Plan to execute development road map, including site selection and deployment of fabrication facility, thermal hydraulic modeling, and advancing toward commercial deployment.

• Forward-looking statements involve risks and uncertainties that may cause actual results to differ significantly from estimates, as detailed in Lightbridge's SEC filings.

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