L
LITHIUM AMERICAS CORP.
LACCIK 0001966983NYSEEmerging GrowthMetal MiningA1CAFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-86.26M
Total Assets
$2.58B
Equity
$1.06B
Shares Out
348.82M
Op. Cash Flow
$-61.22M
Business
LITHIUM AMERICAS CORP. is a resource and materials company focused on developing, building and operating significant lithium deposits and chemical processing facilities. It produces battery-grade lithium chemicals, including lithium carbonate, and operates a technical development center and pilot-scale processing facilities. The company’s primary operations center on the Thacker Pass project, managed through a joint venture with General Motors, and it holds investments and exploration assets alongside project development, engineering and transloading activities. Its operations and product distribution target North American markets with rail, road and direct offtake channels.
Summary from filing dated 2025-03-28
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Exploration expenditures | −19,000 | −202,000 | −4 | |
| General and administrative expenses (Note 15) | −53 | −28 | −25 | |
| Total operating expenses | −53 | −28 | −29 | |
| Transaction costs (Note 16) | −32 | −22 | −11 | |
| Gain on LAC and JV warrant obligations (Note 3) | 160 | 0 | — | |
| Loss on convertible debt and conversion feature (Note 11) | −171 | 0 | — | |
| Gain/(loss) on investments measured at fair value (Note 6) | 711,000 | −7 | 32 | |
| Other income | 9 | 15 | 3 | |
| Total other expense | −33 | −14 | 24 | |
| Net loss | −86 | −43 | −5 | |
| Common stockholders | −122 | −43 | −5 | |
| Non-controlling interest | 36 | −105,000 | 0 | |
| Net loss per share attributable to common stockholders, basic (Note 13) | −0.5 | −0.21 | −0.03 | |
| Net loss per share attributable to common stockholders, diluted (Note 13) | −0.5 | −0.21 | −0.03 | |
| Weighted average number of common shares outstanding, basic | 244 | 201 | 160 | |
| Weighted average number of common shares outstanding, diluted | 244 | 201 | 160 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-09-30 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|---|
| Cash (Note 5) | 568 | — | 594 | 196 | |
| Restricted cash (Note 5) | 337 | — | 288,000 | — | |
| Receivables | 4 | — | 557,000 | 4 | |
| Prepaids and deposits | 2 | — | 8 | 6 | |
| Total current assets | 912 | — | 602 | 206 | |
| Investments measured at fair value (Note 6) | 5 | — | 4 | 11 | |
| Mineral properties, plant and equipment, net (Note 7) | 1,344 | — | 399 | 201 | |
| Deferred financing costs (Note 3) | 312 | — | 12 | 0 | |
| Other assets (Note 8) | 7 | — | 28 | 19 | |
| Total assets | 2,579 | — | 1,045 | 437 | |
| Accounts payable | 88 | — | 700,000 | 5 | |
| Accrued liabilities (Note 9) | 83 | — | 52 | 19 | |
| Current portion of lease liabilities (Note 10) | 6 | — | 6 | 878,000 | |
| Total current liabilities | 177 | — | 58 | 25 | |
| Convertible debt and conversion feature (Note 11) | 160 | — | 0 | — | |
| Warrant obligation (Note 3) | 234 | 394 | — | — | |
| DOE Loan (Note 3) | 351 | — | 0 | — | |
| Royalty and production payment arrangements (Note 11) | 51 | — | 21 | 21 | |
| Lease liabilities (Note 10) | 16 | — | 17 | 3 | |
| Reclamation liabilities | 473,000 | — | 288,000 | 112,000 | |
| Other liabilities (Note 10) | 4 | — | 4 | 4 | |
| Total liabilities | 992 | — | 100 | 52 | |
| Commitments (Note 21) | — | — | — | — | |
| Non-controlling interest (Note 4) | 528 | — | 310 | 0 | |
| Common stock, no par value, unlimited authorized; 314,335 and 218,465 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively (Note 12) | 1,280 | — | 655 | 383 | |
| Additional paid-in capital | 0 | — | 36 | 15 | |
| Accumulated deficit | −221 | — | −56 | −13 | |
| Total stockholders' equity | 1,059 | — | 635 | 385 | |
| Total liabilities, non-controlling interest and stockholders' equity | 2,579 | — | 1,045 | 437 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Depreciation | 46,000 | 46,000 | 135,000 | |
| Stock-based compensation (Note 12) | 6 | 5 | 6 | |
| Amortization of right-of-use asset | 1 | 946,000 | 692,000 | |
| Other items | 2 | 36,000 | −269,000 | |
| (Increase)/decrease in receivables | −1 | 4 | −4 | |
| Decrease in prepaids and deposits | 127,000 | 301,000 | −643,000 | |
| Increase/(decrease) in accounts payable | 14 | −22,000 | −1 | |
| Increase/(decrease) in accrued liabilities | −7 | 14 | −2 | |
| Operating lease payments, net of non-cash interest accrual | −932,000 | −873,000 | −688,000 | |
| Net cash used in operating activities | −61 | −13 | −40 | |
| Additions to mineral properties, plant and equipment | −765 | −178 | −189 | |
| Net cash used in investing activities | −765 | −178 | −189 | |
| Proceeds from convertible debt and production payment arrangements, net of issuance and transaction costs (Note 11) | 212 | 0 | — | |
| Proceeds from issuance of non-controlling interest (Note 4) | 100 | 330 | 0 | |
| Proceeds from public offerings, net of issuance costs (Note 12) | 401 | 262 | — | |
| Proceeds from DOE Loan (Note 3) | 435 | 0 | — | |
| Deferred financing costs | −5 | −2 | 0 | |
| Principal payments on finance lease obligations | −5 | −836,000 | −34,000 | |
| Net cash provided by financing activities | 1,138 | 589 | 424 | |
| Net increase in cash and restricted cash | 311 | 398 | 195 |
Filings
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