NioCorp Developments Ltd. (NASDAQ: NB) released preliminary unaudited financial results for the three-month period ended September 30, 2026. The company reported net income attributable to NioCorp of $3.7 million, or $0.03 per share (basic), for the third quarter of 2026. This figure contrasts with a net loss of $42.7 million, or $0.53 per share (basic), reported for the same period in 2025.
The company reported a cash balance of $405.1 million as of September 30, 2026. The positive net income for the recent quarter is primarily attributed to non-cash gains of approximately $8.5 million related to earnout shares and warrants classified as liabilities on the balance sheet. These gains were driven by a decrease in the closing price of the company's common shares between June 30, 2026, and September 30, 2026. Conversely, the net loss in the prior year was driven by non-cash losses related to the same instruments, stemming from an increase in share prices during that period.
Despite the net income figure, the company remains in a development stage. Operating cash outflows for the quarter totaled $6.1 million, largely consisting of recurring general and administrative costs and expenses related to the Elk Creek Critical Minerals Project. Additionally, investing outflows reached $5.9 million, primarily used for construction activities at the Elk Creek mine portal.
NioCorp intends to file its unaudited interim condensed consolidated financial statements for the quarter ended September 30, 2026, in its Quarterly Report on Form 10-Q on or before November 16, 2026. The company noted that all figures provided are preliminary and subject to change.
