F
5E Advanced Materials, Inc.
FEAVCIK 0001888654OTCNon-AcceleratedSmaller ReportingEmerging GrowthMining & Quarrying Of Nonmetallic Minerals (No Fuels)FY ends Jun 30
Period
FY 2025
Revenue
—
Net Income
$-31.55M
Total Assets
$70.73M
Equity
$63.19M
Shares Out
41.51M
Op. Cash Flow
$-23.64M
Business
5E Advanced Materials, Inc. is a development-stage company that is building a vertically integrated business to extract, process and supply refined borates and advanced boron derivative materials from its Fort Cady colemanite deposit. It offers boric acid, refined borates, calcium-based co-products such as calcium chloride and gypsum, and is pursuing downstream advanced boron materials and potential byproducts including lithium carbonate. Its operations are organized around project development, an above-ground small-scale refining facility, in‑situ solution mining wellfields and EPC-led engineering for a proposed commercial-scale complex. The company targets U.S. and international industrial markets and distributes product samples and trial shipments from its Southern California project through direct customer qualification, offtake discussions and regional transport links.
Summary from filing dated 2025-09-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Project expenses | 5 | 6 | 10 | 13 | 6 | |
| Small-scale facility operating costs | 4 | 1 | — | — | — | |
| General and administrative | 14 | 23 | 25 | 55 | 12 | |
| Research and development | 0 | 45,000 | 262,000 | 133,000 | 0 | |
| Depreciation and amortization expense | 20 | 5 | 184,000 | 112,000 | — | |
| Total operating expenses | 44 | 36 | 37 | 68 | 18 | |
| Income (loss) from operations | −44 | −36 | −37 | −68 | −18 | |
| Interest income | 103,000 | 252,000 | 1 | 3,000 | 9,000 | |
| Other income | 7,000 | 7,000 | 62,000 | 65,000 | — | |
| Gain (loss) on extinguishment of debt | 17 | −21 | 0 | — | — | |
| Derivative gain | 1 | 749,000 | 12 | 0 | — | |
| Interest expense | −6 | −6 | — | — | — | |
| Other expense | −2,000 | −9,000 | −15,000 | 1 | — | |
| Total non-operating income (expense) | 12 | −26 | 6 | 1 | −2 | |
| Income (loss) before income taxes | −31 | −62 | −31 | −67 | −19 | |
| Income tax expense (benefit) | 179,000 | 0 | 0 | 0 | 0 | |
| Net income (loss) | −32 | −62 | −31 | −67 | −19 | |
| Net income (loss) per common share - basic | −3.95 | −27.15 | −0.7 | −1.63 | −0.56 | |
| Net income (loss) per common share - diluted | −3.95 | −27.15 | −0.7 | −1.63 | −0.56 | |
| Weighted average common shares outstanding - basic | 8 | 2 | 44 | 41 | 34 | |
| Weighted average common shares outstanding - diluted | 8 | 2 | 44 | 41 | 34 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 4 | 5 | 20 | 31 | 41 | |
| Prepaid expenses and other current assets | 777,000 | 2 | 2 | 2 | 159,000 | |
| Total current assets | 5 | 7 | 22 | 33 | 41 | |
| Mineral rights and properties, net | 8 | 8 | 8 | 8 | 8 | |
| Construction in progress | 3 | 608,000 | 68 | 26 | 13 | |
| Properties, plant and equipment, net | 54 | 74 | 3 | 3 | 1 | |
| Reclamation bond deposits | 2 | 311,000 | 309,000 | 1 | 1 | |
| Right of use asset | 141,000 | 282,000 | 207,000 | 371,000 | 213,000 | |
| Other assets | 0 | 6,000 | 6,000 | 6,000 | 0 | |
| Total assets | 71 | 90 | 101 | 71 | 65 | |
| Accounts payable and accrued liabilities | 6 | 10 | 9 | 7 | 2 | |
| Lease liabilities, current | 81,000 | 141,000 | 136,000 | 164,000 | 91,000 | |
| Total current liabilities | 6 | 10 | 9 | 7 | 2 | |
| Long-term debt, net | 22,000 | 65 | 38 | 148,000 | 93,000 | |
| Convertible note derivative liabilities | 0 | 3 | 0 | — | — | |
| Lease liabilities | 68,000 | 149,000 | 74,000 | 211,000 | 125,000 | |
| Asset retirement obligations | 1 | 795,000 | 724,000 | 489,000 | 377,000 | |
| Total liabilities | 8 | 79 | 47 | 8 | 2 | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Common stock, $0.01 par value; 360,000 shares authorized; 20,018 and 2,753 shares outstanding June 30, 2025 and June 30, 2024, respectively | 200,000 | 28,000 | 441,000 | 433,000 | 384,000 | |
| Additional paid-in capital | 295 | 211 | 191 | 170 | 101 | |
| Retained earnings (accumulated deficit) | −232 | −200 | −138 | −107 | −41 | |
| Total stockholders' equity | 63 | 11 | 54 | 63 | 62 | |
| Total liabilities and stockholders' equity | 71 | 90 | 101 | 71 | 65 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 20 | 5 | 184,000 | 112,000 | 31,000 | |
| Share-based compensation | 2 | 3 | 5 | 7 | 6 | |
| Gain on convertible note derivatives | −1 | −749,000 | — | — | — | |
| Transaction costs incurred in troubled debt restructuring | −837,000 | 0 | — | — | — | |
| Accretion of asset retirement obligations | 80,000 | 71,000 | 37,000 | 9,000 | — | |
| Amortization of debt issuance costs and discount - convertible notes | 1 | 3 | 5 | 0 | — | |
| Amortization of right of use asset | 141,000 | 159,000 | 164,000 | 125,000 | 0 | |
| Interest earned on reclamation bond | −21,000 | −2,000 | 0 | −1,000 | −3,000 | |
| Other | −4,000 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 1 | −105,000 | −302,000 | −1 | 16,000 | |
| Reclamation bond deposits | −1 | 0 | — | — | — | |
| Accounts payable and accrued liabilities | 4 | 3 | 821,000 | 3 | 244,000 | |
| Net cash used in operating activities | −24 | −27 | −31 | −29 | −11 | |
| Construction in progress | −2 | −7 | −40 | −10 | −12 | |
| Properties, plant and equipment additions | −124,000 | −88,000 | −352,000 | −1 | −39,000 | |
| Properties, plant and equipment disposals | 10,000 | 0 | — | — | — | |
| Refund on previously acquired equipment | 86,000 | 0 | — | — | — | |
| Net cash used in investing activities | −2 | −7 | −39 | −11 | −13 | |
| Proceeds from issuance of common stock and warrants, net of issuance costs | 10 | 16 | — | — | — | |
| Proceeds from debt exchange transaction, net of issuance costs | 5 | 0 | — | — | — | |
| Proceeds from issuance of convertible notes | 11 | 6 | 60 | 0 | — | |
| Debt issuance costs | −764,000 | −3 | −4 | 0 | −2,000 | |
| Payments on note payable | −42,000 | −40,000 | −38,000 | −112,000 | — | |
| Taxes paid for equity award vesting | −178,000 | 0 | — | — | — | |
| Net cash provided by financing activities | 25 | 19 | 59 | 31 | 38 | |
| Net increase (decrease) in cash and cash equivalents | −1 | −15 | −11 | −9 | 14 | |
| Cash paid for interest | 3,000 | 23,000 | 7,000 | 6,000 | 3,000 | |
| Construction in progress transferred to properties, plant and equipment (Note 4) | 0 | 76 | 0 | 55,000 | 798,000 | |
| Accounts payable and accrued liabilities change related to capital additions | 180,000 | 2 | — | — | — | |
| Accounts payable and accrued liabilities change related to debt issuance costs | −271,000 | 0 | — | — | — | |
| Accounts payable and accrued liabilities change related to equity issuance costs | 238,000 | 0 | — | — | — | |
| Recognition of operating lease liability and right of use asset | 0 | 234,000 | 0 | 283,000 | 237,000 | |
| Interest paid through issuance of additional convertible notes (Note 7) | 7 | 4 | 2 | 0 | — | |
| Increase in net long-term debt resulting from modification (Note 7) | 0 | 21 | 0 | — | — | |
| Increase in asset retirement costs | 141,000 | 0 | 198,000 | 103,000 | 0 | |
| Convertible note derivatives liability reclassification to equity (Note 8) | 4 | 0 | — | — | — | |
| Net fair value of equity interest exchanged for convertible notes (Note 7) | 65 | 0 | — | — | — |
Filings
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