Lithium battery developer Stardust Power Inc. plans a release of its first quarter 2026 earnings in the coming week.
Investors and firms that have made commitments to the firm will get an idea of its financial abilities as it moves forward with its Oklahoma development.
The Connecticut-based company with a project underway at Muskogee in eastern Oklahoma will announce the financial results after the market close on Thursday May 14.
Roshan Pujari, Founder and Chief Executive Officer and Uday Devasper, Chief Financial Officer will host a conference call at 5:30pm ET on Thursday May 14, 2026, to discuss the Company’s results.
At the end of 2025, the company announced its finances:
- For the year ended December 31, 2025 and December 31, 2024, the Company incurred a net loss of $15.7 million and $23.8 million, respectively. The improvement was primarily driven by lower financing charges and reduced general and administrative expenses compared to the prior year, which included costs associated with being a public company.
- Loss per share was $2.13 for the current year, compared to $5.55 for the prior year, the decrease being driven primarily by a decrease in finance charges for short term loans, lower general and administrative costs and an increase in outstanding share capital due to public offerings during the year.
- Net cash used in operating activities decreased to $8.3 million for the current year, compared to $9.7 million for the prior year, primarily driven by certain expenses related to the close of the business combination incurred in prior year, partially offset by our continued investment in operations and hiring of key talent.
- Net cash used in investing activities was $3.4 million for the current year, compared to $4.8 million for the prior year, primarily driven by our initial capital investments made in the anticipated building of the Muskogee lithium refinery.
- Net cash provided by financing activities was $14.2 million during the current year, compared to $14.2 million for the prior year. During the current year, cash provided by financing activities was driven primarily by $12.0 million in net proceeds from public offerings and warrant inducements, cash received from the issuance of 2025 convertible notes of $3.8 million and $2.1 million proceeds from common stock issuances, partially offset by the repayment of $3.9 million of short-term loans. The prior year financing cash flow resulted from cash received from closing of the business combination, including proceeds from the PIPE subscription agreements and 2024 convertible notes, net of transaction costs paid and proceeds from short term loans from related party and investors.
Development progress
In April, the company announced it had signed a Letter of Intent with a single institutional investor to support project level financing for its planned lithium refinery in Muskogee, Oklahoma. Under the terms of the LOI, the institutional investor has indicated its intent to invest up to $150 million at the project level, with flexibility across equity, debt, and hybrid financing structures.
Also in April, Stardust said it had signed a Letter of Intent with a party to supply up to 15,000 metric tons a year of lithium carbonate equivalent in the form of lithium chloride. The potential supply was a “key step in securing U.S.-based feedstock for the Company’s Muskogee, Oklahoma refinery as it advances toward construction.”