In This Article:
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Cash and Cash Equivalents: $1.6 million as of Q1 2025, compared to $0.9 million as of December 31, 2024.
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Net Loss: $3.8 million in Q1 2025, an increase of $2.4 million year over year.
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Loss Per Share: Negative $0.07 for Q1 2025, compared to $0.04 in the prior year.
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Net Cash Used in Operating Activities: $2.9 million for the quarter, compared to $0.9 million in the prior year.
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Net Cash Used in Investing Activities: $1 million for the quarter.
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Net Cash Provided by Financing Activities: $4.5 million for the quarter, primarily from $8 million in cash received from public offering and warrant inducements.
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Accumulated Deficit: $56.4 million as of Q1 2025, compared to $52.6 million as of FY24.
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Debt-Free Balance Sheet: Fully repaid short-term loan principal and accrued interest by March 31, 2025.
Release Date: May 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Stardust Power Inc (NASDAQ:SDST) is advancing one of the largest lithium refineries in America, strategically positioned to address the critical shortage of domestic refining capacity.
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The company is aligned with federal priorities around clean energy and US supply chain security, enhancing its strategic positioning.
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Stardust Power Inc (NASDAQ:SDST) has secured key permits, including a general stormwater permit and a minor source air permit, facilitating the start of major construction.
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The company has a debt-free balance sheet as of Q1 2025, having fully repaid short-term loans.
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Stardust Power Inc (NASDAQ:SDST) is actively engaging with policymakers and state-level authorities to maximize support for its refinery project, aligning with national priorities.
Negative Points
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Stardust Power Inc (NASDAQ:SDST) is currently pre-revenue and has significant operating losses, with an accumulated deficit of $56.4 million as of Q1 2025.
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The company incurred a net loss of $3.8 million in Q1 2025, which was higher by $2.4 million year over year.
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Operating expenses are expected to increase as the company starts to recruit more personnel and set up the facility.
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The broader stock market volatility and geopolitical uncertainties could impact investor sentiment and cause short-term price swings.
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Stardust Power Inc (NASDAQ:SDST) is dependent on raising additional capital from equity issuance or borrowings to meet working capital and capital expenditure requirements.
Q & A Highlights
Q: Do you have an approximate timeline for the release of the final engineering study report? A: We are looking to release the final report this quarter. The majority of the report is finalized and in the final revision stages, so it should be done shortly. - Roshan Pujari, CEO