Stardust Power Earnings Call Transcripts
Fiscal Year 2026
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Advanced project readiness and financing for the Muskogee refinery, achieving key permitting and engineering milestones. Remains pre-revenue, with a Q2 net loss of $3.9M and $0.5M in cash, while securing new equity facilities to support ongoing development.
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The meeting covered board introductions, five key proposals, and voting outcomes, with all but one proposal approved. Stockholders participated in a Q&A, and independent auditors were present to address questions.
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Transitioned from de-risking to execution, securing key permits and advancing financing for the Muskogee refinery. Q1 net loss increased to $5.2M, but cash usage improved year-over-year. Focus remains on project-level financing and execution milestones.
Fiscal Year 2025
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2025 was a pivotal year marked by engineering, permitting, and commercial milestones, positioning the lithium refinery project for construction and requiring further project-level financing. Net loss narrowed to $15.7 million, with cash on hand at $3.5 million.
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Advanced engineering and commercial milestones position the Muskogee refinery for final investment decision, with key supply and offtake agreements in place. Financials show improved net loss and liquidity, but ongoing capital raising is required as the company remains pre-revenue.
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Progress continues on a major U.S. lithium refinery, with permitting, engineering, and financing milestones achieved. The company remains pre-revenue, reporting a $3.7 million net loss in Q2 2025, and is addressing NASDAQ compliance while benefiting from favorable policy and market trends.
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Advancing a major U.S. lithium refinery, the company remains pre-revenue with a $3.8M Q1 2025 net loss and $1.6M in cash. Project milestones include key permits, financing progress, and strong alignment with U.S. critical mineral policy.
Fiscal Year 2024
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Major milestones achieved in refinery development, including land acquisition, permitting, and a strategic offtake agreement. Pre-revenue, with a $23.8M net loss for 2024, but well-capitalized after recent financings. Lithium market outlook remains strong for 2026–2027.
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Progressing on a major U.S. lithium refinery, the company remains pre-revenue with a $10M Q3 net loss, strong liquidity plans, and a robust project pipeline. Strategic partnerships, government incentives, and a resilient business model support long-term growth.