Lightbridge Corporation (Nasdaq: LTBR) reported financial results for the third quarter and nine months ended September 30, 2026, and announced a key development regarding its nuclear fuel technology development. The company reported a net loss of $8.3 million, or $(0.23) per basic and diluted share, for the three months ended September 30, 2026, compared to a net loss of $4.1 million, or $(0.16) per share, in the prior year period. Over the first nine months of 2026, the company recorded a net loss of $20.4 million, or $(0.62) per share.
Operational expenses increased during the period, driven by higher research and development (R&D) and general and administrative (G&A) spending. For the third quarter of 2026, R&D expenses totaled $5.3 million, compared to $2.0 million in the prior year, while G&A expenses were $5.0 million, compared to $3.2 million in the prior year. The company noted that these increases reflect new hires, higher bonuses, and stock-based compensation, as well as increased costs for information technology and Idaho National Laboratory (INL) projects.
In a significant business development, Lightbridge announced that it has been selected for the Department of Energy’s (DOE) Nuclear Energy Launch Pad program at Idaho National Laboratory (INL). The selection, made in August 2026 and administered by the DOE's National Reactor Innovation Center (NRIC), provides an accelerated pathway toward DOE authorization for the company to design, build, and operate the Lightbridge Fuel Pilot Factory (also referred to as SHED) at INL. The facility is intended to manufacture lead test assemblies (LTAs) of Lightbridge Fuel for demonstration in U.S. commercial power reactors. The company is currently negotiating the applicable agreements and project scope with NRIC and INL, though authorization remains subject to additional reviews and agreements.
Separately, Lightbridge entered into Project Task Statement No. 2 under its Cooperative Research and Development Agreement (CRADA) with Battelle Energy Alliance, LLC. This work covers the experimental design, assembly, irradiation, and disposition of enriched uranium-zirconium fuel rodlets in the Advanced Test Reactor (ATR) loop facility. The company reported that the first batch of fuel material coupon samples discharged from the ATR in May 2026 is currently undergoing post-irradiation examination at INL.
Financially, the company’s cash and cash equivalents totaled $236.7 million at September 30, 2026, an increase of $34.8 million from December 31, 2025. Working capital was approximately $234.2 million at the end of the quarter. During the nine months ended September 30, 2026, the company sold approximately 4.3 million shares of common stock under its at-the-market (ATM) program for net proceeds of $48.9 million. As of September 30, 2026, approximately $91.4 million of common stock remained available for sale under the $150 million ATM program.
