Lite Strategy Posts $34.4M Loss in First Half of Fiscal 2025
Lite Strategy reported a net loss of $34.4 million for the six months ending December 31, 2024, more than tripling the $10.7 million loss from the year-ago period.
Lite Strategy reported a net loss of $34.4 million for the six months ending December 31, 2024, more than tripling the $10.7 million loss from the year-ago period. The Delaware-based company posted a loss of $30.8 million in the second quarter alone, compared to a $2.7 million loss in the prior-year quarter. Read more earnings reports.
The company's operating loss widened to $33.6 million for the first half of fiscal 2025, up from $11.8 million in the same period last year. Operating losses in the second quarter totaled $29.9 million, versus $3.5 million a year earlier.
Total assets jumped to $82.9 million as of December 31, 2024, from $18.3 million six months prior. Cash and cash equivalents declined to $8.8 million from $18.0 million at the end of June 2024.
The company burned $6.4 million in operating cash during the six-month period, an improvement from the $15.1 million operating cash outflow a year earlier. Investing activities consumed $99.4 million, compared to a positive $35.2 million from investing in the prior-year period. Financing activities generated $96.6 million in cash.
Labor and related expenses dropped sharply to $1.1 million for the first half of fiscal 2025 from $7.0 million in the year-ago period. Research and development spending fell to $56,000 from $3.5 million.
Interest and dividend income declined to $160,000 for the six months ending December 31, 2024, down from $634,000 in the prior-year period. Second-quarter interest income totaled $60,000, compared to $279,000 a year earlier.
Stockholders' equity climbed to $81.9 million as of December 31, 2024, from $16.9 million at the end of June 2024. The company's accumulated deficit expanded to $438.6 million from $404.2 million over the same span.
Common shares outstanding surged to 36.8 million as of December 31, 2024, from 6.7 million six months earlier. The company issued 2.1 million shares in July, 2.8 million shares by the end of September, and an additional 1.1 million shares in October.
Basic and diluted loss per share totaled $1.03 for the first half of fiscal 2025, improving from a loss of $1.60 per share in the year-ago period. Second-quarter loss per share was $0.82, compared to $0.40 a year earlier. The weighted average share count increased to 33.4 million shares for the six-month period from 6.7 million shares a year ago.
Total liabilities decreased to $1.1 million as of December 31, 2024, from $1.4 million at the end of June 2024. Accounts payable rose to $327,000 from $176,000 over the same period.
Financial Summary
| Metric | Q2 FY2025 | Q2 FY2024 | H1 FY2025 | H1 FY2024 |
|---|---|---|---|---|
| Net Loss | ($30.8M) | ($2.7M) | ($34.4M) | ($10.7M) |
| Operating Loss | ($29.9M) | ($3.5M) | ($33.6M) | ($11.8M) |
| Interest Income | $60,000 | $279,000 | $160,000 | $634,000 |
| Labor Expenses | $499,000 | $2.1M | $1.1M | $7.0M |
| R&D Expenses | $46,000 | $308,000 | $56,000 | $3.5M |
| EPS (Basic & Diluted) | ($0.82) | ($0.40) | ($1.03) | ($1.60) |
Balance Sheet Highlights
| Item | As of Dec 31, 2024 | As of Jun 30, 2024 |
|---|---|---|
| Total Assets | $82.9M | $18.3M |
| Cash & Equivalents | $8.8M | $18.0M |
| Total Liabilities | $1.1M | $1.4M |
| Stockholders' Equity | $81.9M | $16.9M |
| Accumulated Deficit | ($438.6M) | ($404.2M) |
| Shares Outstanding | 36.8M | 6.7M |
Cash Flow Summary
| Category | H1 FY2025 | H1 FY2024 |
|---|---|---|
| Operating Cash Flow | ($6.4M) | ($15.1M) |
| Investing Cash Flow | ($99.4M) | $35.2M |
| Financing Cash Flow | $96.6M | $0 |