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Westwater Resources (WWR) investor relations material
Westwater Resources Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Kellyton Phase One development is advanced, with $125.1 million invested and large battery-grade graphite samples delivered to customers.
One of three key off-take agreements was terminated by Stellantis/FCA, pausing debt syndication, but two agreements remain active.
Strategic focus is on optimizing Kellyton's ramp-up to align with current off-take commitments and reduce capital needs.
The company is advancing permitting for the Coosa Graphite Deposit to enable vertical integration and supply chain control.
Received a U.S. patent for a sustainable graphite purification process, avoiding hazardous hydrofluoric acid.
Financial highlights
Net loss for Q3 2025 was $9.8 million ($0.12/share), up from $3.1 million ($0.05/share) in Q3 2024, mainly due to convertible note expenses and higher stock compensation.
Cash and cash equivalents were $12.9 million at September 30, 2025; subsequent equity raises increased cash to $53 million by November 5, 2025.
Raised approximately $55 million since June 30 through ATM and convertible note offerings, with a $75 million ATM program refresh.
Operating cash outflow for the nine months was $7.9 million, up $4.2 million year-over-year.
$10.1 million raised from ATM equity sales and $3.2 million from Lincoln Park Capital in the nine months ended September 30, 2025.
Outlook and guidance
Optimization of Kellyton Phase One is expected to be completed by Q4, with updates in early 2026.
Construction at Kellyton Plant will remain measured until additional funding is secured; plant capacity is being optimized to align with current offtake agreements.
Management believes current cash is sufficient for planned non-discretionary expenditures beyond one year from the report date.
Actively engaging with potential new customers and pursuing government funding, including a pending EXIM Bank application.
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