Nouveau Monde Graphite (NMG) Q1 2025 earnings summary

Executive summary

• Advanced engineering and financing for Phase-2 Matawinie Mine and Bécancour Battery Material Plant, with updated feasibility study published and active due diligence underway for project financing.

• Ended Q1 2025 with $88,988 in cash and cash equivalents, focusing on liquidity preservation and project advancement.

• Net loss for Q1 2025 was $12,442, a significant improvement from $32,237 in Q1 2024, mainly due to the absence of a one-time Lac Guéret property acquisition expense.

• Ongoing engagement with anchor customers (GM, Panasonic) and other tier-1 partners for offtake and strategic investment agreements.

• No major environmental incidents; ESG performance recognized as industry-leading.

Financial highlights

• Net loss of $12,442 for Q1 2025, down from $32,237 in Q1 2024, with basic and diluted loss per share of $0.08 (vs. $0.43 in Q1 2024).

• Total assets decreased to $190,053 from $204,100 at year-end 2024, mainly due to cash outflows and continued project investments.

• Cash outflows from operating activities were $13,447, and investing activities used $3,191 in Q1 2025.

• No new financing closed in Q1 2025; prior period included $67,870 from GM and Panasonic private placement.

• Average monthly cash expenditure rate was approximately $5,546, including all operating and capital expenses.

Outlook and guidance

• Final investment decision (FID) for Phase-2 projects is contingent on securing additional financing and satisfying conditions with anchor customers.

• Expressions of interest for project financing total approximately $1.6 billion; company is targeting $450,000 in refundable tax credits.

• Anticipates continued negative cash flows from operations until commercial production is achieved.

• Uatnan Mining Project advancement depends on further funding, feasibility, and stakeholder engagement.