The balance sheet is characterized by a fortress-like liquidity position of $215.7 million in cash, supporting a current ratio of 168.12 as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 |
|---|
| Total Current Assets | 217.14M | 202.58M | 40.32M | 28.81M | 29.02M | 24.86M | 21.7M | 18.41M | 24.77M | 5.09M | 4.66M | 1.26M | 5.22M | 4.96M | 5.53M | 9.81M | 14.74M | 6.68M | 11.98M | 10.48M | 11.32M | 73.37K | 802 | 894 | 894 | 902 | 34.61K | 1.51K |
| Cash & Short-Term Investments | 215.67M | 201.86M | 39.99M | 28.6M | 28.9M | 24.75M | 21.53M | 17.96M | 24.64M | 4.52M | 3.58M | 623.18K | 4.22M | 3.69M | 3.8M | 8.72M | 12.83M | 3.03M | 5.58M | 9.91M | 10.93M | 64.25K | 802 | 894 | 894 | 902 | 6.23K | 164 |
| Cash Only | 215.67M | 201.86M | 39.99M | 28.6M | 28.9M | 24.75M | 21.53M | 17.96M | 24.64M | 4.52M | 3.58M | 623.18K | 4.22M | 3.67M | 2.2M | 3.57M | 2.37M | 3.03M | 5.58M | 9.91M | 10.93M | 64.25K | 802 | 894 | 894 | 902 | 6.23K | 164 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.73K | 1.6M | 5.15M | 10.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400K | 93.25K | 10.4K | 388.43K | 139.8K | 469.09K | 425.92K | 601.8K | 277.21K | 990.56K | 2.42M | 5.36M | 0 | 0 | 9.12K | 0 | 0 | 0 | 0 | 0 | 1.34K |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | 21.64 | 186.41 | 56.04 | 130.7 | 81.78 | 59.72 | 15.92 | 47.65 | 84.03 | 88.01 | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.47M | 712.98K | 324.38K | 207.06K | 115.26K | 0 | 0 | 0 | 0 | 491.17K | 605.18K | 325.83K | 325.18K | 555.01K | 553.68K | 551.88K | 550.28K | 652.17K | 650K | 371.63K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.8M | 1.26M | 637.67K | 591.87K | 453.23K | 101.58K | 85.56K | 1.15M | 1.58M | 1.86M | 2.14M | 950.59K | 833.56K | 699.17K | 617.82K | 704.08K | 569.93K | 459.89K | 464.41K | 250.6K | 241.21K | 208.2K | 0 | 870 | 967 | 1.81K | 27.41K | 14K |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17.22K | 46.51K | 72.18K | 97.56K | 108.12K | 30.68K | 21.29K | 58.2K | 0 | 870 | 967 | 1.81K | 2.41K | 14K |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 213.58x | 136.65x | 105.11x | 107.79x | 205.51x | - | - | - | - | - | 3.84x | 95.77x | 71.88x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 119.39K | 108.86K | 108.86K | 108.22K | 101.58K | 85.56K | 1.15M | 1.58M | 1.37M | 1.16M | 950.59K | 833.56K | 699.17K | 600.6K | 537.08K | 377.26K | 241.84K | 217.88K | 217.88K | 217.88K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 120.49K | 120.49K | 120.49K | 138.42K | 2.05K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.8M | 1.14M | 528.8K | 483K | 345K | 0 | 0 | 0 | 0 | 491.27K | 982.49K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.05K | 150K | 0 | 0 | 0 | 0 | 25K | 0 |
| Total Assets | 218.94M | 203.83M | 40.95M | 29.4M | 29.47M | 24.96M | 21.79M | 19.55M | 26.34M | 6.95M | 6.8M | 2.21M | 6.05M | 5.66M | 6.14M | 10.52M | 15.31M | 7.14M | 12.45M | 10.73M | 11.56M | 281.57K | 802 | 1.76K | 1.86K | 2.71K | 62.03K | 15.51K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | 0.03x | 0.11x | 0.41x | 0.22x | 0.34x | 0.60x | 0.60x | 0.50x | 1.47x | 1.79x | - | - | - | - | - | 2.00x | 63.94x | 2.80x | - |
| Asset Growth % | 1388.79% | 397.73% | 39.31% | -0.24% | 18.05% | 14.56% | 11.45% | -25.79% | 279.28% | 2.11% | 208.16% | -63.53% | 6.99% | -7.91% | -41.59% | -31.3% | 114.56% | -42.67% | 15.96% | -7.17% | 4006.77% | 35008.48% | -54.54% | -5.21% | -31.43% | -95.62% | 299.97% | - |
| Total Current Liabilities | 1.29M | 847.45K | 424.58K | 486.33K | 350.33K | 171.52K | 4.58M | 350.3K | 476.32K | 1.15M | 1.22M | 1.18M | 653.67K | 476.63K | 385.22K | 1.68M | 2.19M | 2.16M | 5.14M | 7.13M | 2.61M | 235.19K | 224.98K | 319.8K | 316.4K | 307.86K | 160.19K | 0 |
| Accounts Payable | 0 | 600K | 200K | 100K | 200K | 100K | 200K | 350.3K | 258.06K | 1.15M | 1.22M | 300K | 653.67K | 476.63K | 385.22K | 100K | 361.34K | 296.12K | 2.47M | 886.65K | 1.12M | 233.96K | 224.98K | 319.8K | 316.4K | 307.86K | 160.19K | 54.87K |
| Days Payables Outstanding | - | - | - | - | - | - | 729.15 | 1.43K | - | 3.92K | 972.13 | 157.71 | 315.48 | 156.73 | 62.02 | 9.14 | 26.69 | 17.35 | 81.45 | 27.52 | 31.12 | 3.76K | - | - | 393.05 | 382.44 | 66.08 | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.65K | 4.74K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 98.11K | 0 | 0 | 3.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.29M | 247.45K | 0 | 0 | 0 | -28.48K | -17.87K | 0 | 218.26K | -600K | -400K | -17.63K | 0 | -377K | -200K | 880.43K | 0 | 0 | 0 | 1.21M | 1.48M | 1.24K | 0 | 0 | 0 | 0 | 0 | -54.87K |
| Current Ratio | 168.12x | 239.04x | 94.95x | 59.23x | 82.82x | 144.94x | 4.74x | 52.54x | 52.00x | 4.42x | 3.83x | 1.06x | 7.99x | 10.40x | 14.34x | 5.84x | 6.74x | 3.09x | 2.33x | 1.47x | 4.34x | 0.31x | 0.00x | 0.00x | 0.00x | 0.00x | 0.22x | - |
| Quick Ratio | 168.12x | 239.04x | 94.95x | 59.23x | 82.82x | 144.94x | 4.74x | 52.54x | 52.00x | 4.42x | 3.83x | 1.06x | 7.99x | 10.40x | 14.34x | 5.84x | 6.74x | 3.09x | 2.33x | 1.47x | 4.34x | 0.31x | 0.00x | 0.00x | 0.00x | 0.00x | 0.22x | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28.46K | 2.52M | 4.63M | 1.71M | 0 | 0 | 0 | 0 | 0 | 5.78K | 12.05M | 0 | 0 | 419.27K | 388.03K | 322.8K | 734.71K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.78K | 10.43K | 0 | 0 | 419.27K | 388.03K | 322.8K | 734.71K | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 196.94K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28.46K | 2.33M | 4.63M | 1.71M | 0 | 0 | 0 | 0 | 0 | 0 | 12.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.29M | 847.45K | 424.58K | 486.33K | 350.33K | 171.52K | 4.58M | 350.3K | 476.32K | 1.15M | 1.24M | 3.71M | 5.29M | 2.19M | 385.22K | 1.68M | 2.19M | 2.16M | 5.14M | 7.13M | 14.66M | 235.19K | 224.98K | 739.08K | 704.43K | 630.66K | 894.9K | 54.87K |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.43K | 15.17K | 0 | 0 | 419.27K | 388.03K | 322.8K | 734.71K | 0 |
| Net Debt | -215.67M | -201.86M | -39.99M | -28.6M | -28.9M | -24.75M | -21.53M | -17.96M | -24.64M | -4.51M | -3.58M | -623.18K | -4.22M | -3.67M | -2.2M | -3.57M | -2.37M | -3.03M | -5.58M | -9.9M | -10.91M | -64.25K | -802 | 418.38K | 387.13K | 321.9K | 728.48K | -164 |
| Debt / Equity | 0.00x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.00x | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.00x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 16.75x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.84x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | -14.96x | -13.97x | -28.61x | -637.53x | - | - | - | - | - | - | - | -31.19x | - | -1.72x | - | - | -7.01x | -8.01x | - | - |
| Total Equity | 217.65M | 202.99M | 40.53M | 28.91M | 29.12M | 24.79M | 17.21M | 19.2M | 25.87M | 5.79M | 5.56M | -1.5M | 766.26K | 3.47M | 5.76M | 8.84M | 13.12M | 4.97M | 7.31M | 3.6M | -3.09M | 46.38K | -224.18K | -737.31K | -702.57K | -627.95K | -832.87K | -39.36K |
| Equity Growth % | 1422.5% | 400.85% | 40.18% | -0.71% | 17.45% | 44.07% | -10.38% | -25.77% | 346.41% | 4.27% | 470.74% | -295.64% | -77.92% | -39.74% | -34.85% | -32.66% | 163.87% | -31.94% | 102.95% | 216.37% | -6771.97% | 120.69% | 69.6% | -4.95% | -11.88% | 24.6% | -2015.88% | - |
| Book Value per Share | 6.79 | 8.28 | 2.80 | 2.39 | 2.69 | 3.52 | 4.08 | 6.18 | 11.65 | 6.67 | 14.10 | -4.93 | 2.97 | 16.00 | 27.66 | 42.85 | 70.73 | 29.78 | 43.84 | 21.85 | -42.31 | 1.46 | -10.52 | -36.84 | -37.48 | -33.50 | -96.96 | -4.71 |
| Total Shareholders' Equity | 217.65M | 202.99M | 40.53M | 28.91M | 29.12M | 24.79M | 17.21M | 19.2M | 25.87M | 5.79M | 5.56M | -1.5M | 766.26K | 3.47M | 5.76M | 8.84M | 13.12M | 4.97M | 7.31M | 3.6M | -3.09M | 46.38K | -224.18K | -737.31K | -702.57K | -627.95K | -832.87K | -39.36K |
| Common Stock | 35K | 33.41K | 18.78K | 13.7K | 11.9K | 9.76K | 6.57K | 3.25K | 2.74K | 12.74K | 7.11K | 3.73K | 18.08K | 15.06K | 12.53K | 12.43K | 12.35K | 44.92K | 124.84K | 889.01K | 257.29K | 122.33K | 86.07K | 19.73K | 38.37K | 15.23K | 15.23K | 335.36K |
| Retained Earnings | -190.11M | -183.77M | -164.18M | -152.4M | -144.49M | -136.99M | -129.16M | -114.74M | -103.5M | -87.82M | -80.72M | -74.37M | -70.05M | -66.4M | -66.21M | -62.16M | -56.29M | -48.72M | -41.49M | -38.63M | -27.18M | -9.98M | -4.14M | -1.41M | -1.35M | -1.21M | -883.15K | -389.02K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -255.85K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.14K | 933.66K | 140.54K | -4.13K | 0 | -22.5K | 0 | 0 | -1.25K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
HALEU supply chain dependency
According to recent quarterly filings, Lightbridge has significantly bolstered its financial position, with total assets rising to $218.9 million in 2026Q1 from $29.4 million in 2023Q4, primarily driven by aggressive equity issuance that provides a substantial buffer for long-term research and development activities.
The dramatic expansion of the asset base suggests a strategic shift toward securing multi-year funding to navigate the lengthy regulatory approval process. This trajectory indicates that management is prioritizing liquidity over capital efficiency, effectively insulating the firm from near-term insolvency risks while it pursues technical validation.
Based on reported financial statements, Lightbridge maintains a robust liquidity profile with $215.7 million in cash as of 2026Q1, resulting in a current ratio of 168.12, which provides an exceptionally high margin of safety against the company's ongoing operational cash burn.
The elevated current ratio reflects a lack of significant short-term liabilities rather than operational efficiency, as the company remains pre-revenue. Investors should monitor whether this liquidity buffer is sufficient to reach commercial milestones, given that the cash position is entirely dependent on external financing rather than internal cash generation.
As indicated by historical balance sheet data, the company's equity has grown to $217.6 million in 2026Q1, a trend that appears to be almost exclusively fueled by equity financing and stock-based compensation rather than the accumulation of retained earnings, which remain deeply negative at -$190.1 million.
The persistent growth in the equity account highlights the reliance on shareholder dilution to fund the company's R&D-heavy business model. This structure suggests that existing shareholders bear the full burden of the company's development costs, with the value of their holdings contingent entirely on future commercialization success.
While the balance sheet appears strong, SEC filings reveal that total assets are almost entirely comprised of cash, with zero net property, plant, and equipment, suggesting that the company lacks the physical infrastructure necessary to transition from a research entity to a commercial fuel manufacturer.
The absence of tangible assets implies that Lightbridge remains a pure intellectual property play, which may necessitate future capital-intensive partnerships or licensing agreements to achieve scale. Investors should consider that the headline asset strength may be misleading if the company cannot secure the necessary industrial infrastructure to monetize its fuel rod designs.
Quick answers to the most common questions about buying LTBR stock.
As of 2025, Lightbridge Corporation (LTBR) had total assets of $203.8M including $202.6M in current assets.
Lightbridge Corporation (LTBR) carries total debt of $0.0M, offset by $201.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lightbridge Corporation (LTBR) has total shareholders' equity (book value) of $203.0M ($8.28 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lightbridge Corporation (LTBR) reported a current ratio of 239.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.