$SLI

STANDARD LITHIUM LTD.

CIK:0001537137|SEC Filings

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2025	Jun. 30, 2024
Expenses
General and administrative	$ 5,472	$ 10,614	$ 16,410
Demonstration Plant operations	1,838	4,464	7,324
Management and directors' fees	986	2,216	2,489
Share-based compensation	2,091	6,589	7,937
Separation benefits	1,295	152
Other		25
Foreign exchange loss (gain)	(316)	3,329	(639)
Loss from operations	11,366	27,389	33,521
Gain on deconsolidation of subsidiaries			164,099
Impairment expense	(19,676)	(26,468)
Investment loss from Smackover Lithium	(707)	(6,358)	(158)
Fair value gain on financial asset - FID	1,052	4,161	391
Fair value gain on Investment in Aqualung		2,742
Interest and other income	232	1,857	922
Interest expense	(27)	(33)	(62)
Net (loss) income before income taxes	(30,492)	(51,488)	131,671
Deferred income tax benefit (expense)	981	3,090	(25,870)
Net (loss) income	(29,511)	(48,398)	105,801
Item that may be reclassified subsequently to income or loss:
Currency translation differences of foreign operations	(562)	3,649	(775)
Total comprehensive (loss) income	$ (30,073)	$ (44,749)	$ 105,026
Weighted average number of common shares outstanding - Basic	185,600,192	206,372,978	176,930,274
Weighted average number of common shares outstanding - Diluted	185,600,192	206,372,978	179,419,385
Basic (loss) earnings per share (in USD per share)	$ (0.16)	$ (0.23)	$ 0.6
Diluted (loss) earnings per share (in USD per share)	$ (0.16)	$ (0.23)	$ 0.59

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024	Jun. 30, 2024
Operating activities
Net (loss) income	$ (29,511)	$ (48,398)	$ (1,286)	$ 105,801
Add items not affecting cash
Share-based compensation	2,091	6,589		7,937
Deferred income tax (benefit) expense	(981)	(3,090)		25,870
Unrealized foreign exchange loss (gain)	(316)	3,506		(890)
Impairment expense	19,676	26,468
Gain on deconsolidation of subsidiaries				(164,099)
Investment loss from Smackover Lithium	707	6,358		158
Fair value gain on Investment in Aqualung		(2,742)
Fair value gain on financial asset - FID	(1,052)	(4,161)		(391)
Amortization	603	922		1,142
Interest expense	10	33		62
Other	63	25
Net changes in non-cash working capital items:
Other current assets and receivables	895	(2,485)		(663)
Advances and deposits	21	6		1,934
Accounts payable and accrued liabilities	(4,200)	4,323		5,059
Net cash used in operating activities	(11,994)	(12,646)		(18,080)
Investing activities
Smackover Lithium capital contributions		(29,068)
Exploration and evaluation assets	(2,182)	(22)		(31,596)
Proceeds received from Equinor				30,000
Purchase of property, plant and equipment	(10)			(803)
Change in restricted cash	(173)	(631)		(349)
Patent	(36)	(42)
Net cash used in investing activities	(2,401)	(29,763)		(2,748)
Financing activities
Proceeds from equity offering	0	130,000
Proceeds from at-the-market equity program	6,595	41,009		15,817
Exercise of options	466	2,892		581
Share issuance costs	(203)	(10,008)		(1,226)
Lease payments	(256)	(317)		(470)
Net cash provided by financing activities	6,602	163,576		14,702
Effect of exchange rates on cash	303	(30)		(182)
Net change in cash	(7,490)	121,137		(6,308)
Cash, beginning of period	38,667	31,177	38,667	44,975
Cash, end of period	31,177	152,314	$ 31,177	38,667
Non-cash investing and financing
Change in exploration and evaluation expenditures included in accounts payable	$ 2,030	0		$ 4
Additions to right-of-use assets		134
Change in share issuance costs included in accounts payable		36
Change in proceeds from issuance of shares included in accounts receivable		$ 204

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Jun. 30, 2024
Current assets
Cash	$ 152,314	$ 31,177	$ 38,667
Restricted cash	1,160	518	345
Other current assets and receivables	4,213	1,610	2,505
Current assets	157,687	33,305	41,517
Non-current assets
Reclamation deposit			63
Exploration and evaluation assets		26,446	45,970
Intangible assets	967	943	985
Right of use asset	257	482	712
Property, plant and equipment	1,036	1,631	1,514
Investment in Aqualung	5,350	2,335	2,500
Investment in Smackover Lithium	168,868	146,158	146,865
Financial asset - FID	52,299	48,138	47,086
Advances and deposits	52	58	79
Non-current assets	228,829	226,191	245,774
TOTAL ASSETS	386,516	259,496	287,291
Current liabilities
Accounts payable and accrued liabilities	9,905	5,501	12,217
Lease liabilities - short-term	181	271	381
Current liabilities	10,086	5,772	12,598
Non-current liabilities
Lease liabilities - long-term	76	206	342
Deferred income tax liabilities	21,799	24,889	25,870
Decommissioning provision	597	572	100
Non-current liabilities	22,472	25,667	26,312
TOTAL LIABILITIES	32,558	31,439	38,910
SHAREHOLDERS' EQUITY
Share capital	405,173	235,782	227,292
Reserves	37,299	36,040	34,781
Accumulated deficit	(86,247)	(37,849)	(8,338)
Accumulated other comprehensive loss	(2,267)	(5,916)	(5,354)
TOTAL SHAREHOLDERS' EQUITY	353,958	228,057	248,381
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 386,516	$ 259,496	$ 287,291