5E Advanced Materials Narrows H1 Net Loss 20% to $21.6M Despite Asset Decline

5E Advanced Materials reported a net loss of $21.6 million for the six months ending December 31, 2025, a 20% improvement from the $27.1 million loss recorded in the same period a year earlier. Operating expenses dropped to $21.6 million from $23.9 million, while interest expense collapsed to $11,000 from $4.6 million. Read more earnings reports.

The Delaware-incorporated materials company saw its cash and cash equivalents plunge 85% to $571,000 as of December 31, 2025, down from $3.8 million on June 30, 2025. Total assets declined 17% to $58.6 million from $70.7 million over the six-month period.

For the three months ending December 31, 2025, the company posted a net loss of $10.9 million compared to $14.3 million in the year-ago quarter. Loss per share narrowed sharply to $0.48 from $4.76, reflecting a substantially expanded share base. Weighted average shares outstanding jumped to 22.7 million from 3.0 million.

Operating cash outflows totaled $9.5 million for the six months, an improvement from the $11.7 million burned in the prior-year period. The company brought in $9.1 million from financing activities during the half, partially offsetting the operational and investing cash uses.

Property, plant and equipment dropped to $45.1 million from $53.7 million over the six-month period. Depreciation and amortization charges ran at $10.7 million for the half, up from $10.0 million a year earlier.

Current assets fell to $1.1 million from $4.6 million as of June 30, 2025. Current liabilities declined modestly to $5.9 million from $6.4 million. The company carried no long-term debt as of December 31, 2025, down from $22,000 six months prior.

Stockholders' equity contracted to $51.6 million from $63.2 million as the accumulated deficit widened to $253.1 million from $231.6 million. Outstanding common shares increased to 23.5 million from 20.0 million over the period. Additional paid-in capital rose to $304.5 million from $294.5 million.