Standard Lithium (SLI) Q1 2025 earnings summary

Executive summary

• Transitioning from developer to producer, aiming to deliver low-cost, environmentally friendly domestic lithium for the energy transition.

• Secured a $225 million conditional grant from the U.S. Department of Energy for the Southwest Arkansas project, supporting construction of Phase 1 targeting 22,500 tonnes of battery-quality lithium carbonate annually by 2028.

• Entered a strategic partnership with Equinor, validating project quality and technology.

• Appointed David Park as CEO and Director, succeeding founder Robert Mintak, who remains as an advisor.

• Changed reporting and presentation currency from CAD to USD for alignment with industry peers and asset base.

Financial highlights

• Reported net loss of $4.8 million ($0.03 per share) for Q1 2024, down from $7.3 million ($0.04 per share) in Q1 2023.

• Ended the quarter with $24.7 million in working capital and $28.9 million in cash as of September 30, 2024.

• No term or revolving debt obligations as of September 30, 2024.

• Reduction in net loss driven by lower demo plant expenses, improved efficiencies, and reduced share-based compensation.

Outlook and guidance

• Multiple project milestones expected in the coming year, including completion of FEED studies by mid-2025 and a feasibility study to follow.

• Maiden resource report for East Texas targeted within the next calendar year.

• Confident in resolving Arkansas royalty process and finalizing DOE grant by mid-January.