$NXE

NexGen Energy Ltd.

CIK:0001698535|SEC Filings

Consolidated Statements of Net Loss and Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Salaries, benefits and directors' fees	$ 14,599	$ 13,831
Office, administrative, and travel	22,993	20,400
Professional fees and insurance	11,822	12,221
Depreciation	2,200	2,252
Share-based payments	38,222	29,534
Total value	(89,836)	(78,238)
Finance income	17,818	21,726
Mark-to-market gain (loss) on convertible debentures	(78,178)	18,375
Interest expense on convertible debentures	(46,446)	(32,497)
Interest on lease liabilities and accretion expense	(285)	(110)
Share of net loss from associate	(279)	(13,798)
Loss on dilution of ownership interest in associate	(11,481)	(113)
Impairment loss on investment in associate	(81,009)	0
Mark-to-market loss on derivative instruments	(2,133)	0
Foreign exchange gain (loss)	(3,739)	2,688
Other expense	0	(159)
Loss before taxes	(295,568)	(82,126)
Deferred income tax recovery (expense)	(14,108)	4,567
Net loss	(309,676)	(77,559)
Items that may not be reclassified subsequently to profit or loss:
Change in fair value of convertible debenture attributable to the change in credit risk	(52,253)	15,236
Deferred income tax recovery (expense)	14,108	(4,567)
Share of other comprehensive income (loss) from associate	(1,230)	3,389
Net comprehensive loss	$ (349,051)	$ (63,501)
Earnings (loss) per share attributable to NexGen Energy Ltd.
Basic earnings (loss) per share	$ (0.53)	$ (0.14)
Diluted earnings (loss) per share	$ (0.53)	$ (0.14)
Weighted average common shares outstanding
Basic	588,395,935	554,755,412
Diluted	588,395,935	554,755,412

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from (used in) from operating activities
Net loss for the year:	$ (309,676)	$ (77,559)
Adjust for:
Depreciation	2,200	2,252
Share-based payments	38,222	29,534
Mark-to-market (gain) loss on convertible debentures	78,178	(18,375)
Interest expense on convertible debentures	46,446	32,497
Interest on lease liabilities and accretion expense	285	110
Share of net loss from associate	279	13,798
Loss on dilution of ownership interest in associate	11,481	113
Impairment loss on investment in associate	81,009	0
Mark-to-market loss on derivative instruments	2,133	0
Deferred income tax (recovery) expense	14,108	(4,567)
Unrealized foreign exchange loss	1,696	4,040
Finance income	(1,084)	0
Other expense	0	159
Operating cash flows before working capital	(34,723)	(17,998)
Changes in working capital items:
Amounts receivable	(503)	127
Prepaid expenses and other	(15,600)	(6,028)
Accounts payable and accrued liabilities	3,314	(188)
Cash used in operating activities	(47,512)	(24,087)
Cash flows used in investing activities
Expenditures on exploration and evaluation assets	(185,094)	(128,322)
Acquisition of property and equipment	(505)	(2,361)
Acquisition of short-term investments	(320,000)	0
Investment in IsoEnergy	(18,250)	0
Cash used in investing activities	(523,849)	(130,683)
Cash provided by financing activities
Proceeds from at-the-market equity program, net of issuance costs	0	130,237
Proceeds from ASX CDI offering, net of issuance costs	0	215,780
Proceeds from global offering, net of issuance costs	903,728	0
Proceeds from exercise of stock options	34,703	20,160
Restricted cash	(8,216)	0
Payment of lease liabilities	(1,037)	(1,035)
Interest paid on convertible debentures	(29,735)	(20,502)
Cash provided by financing activities	899,443	344,640
Effect of exchange rates on cash and cash equivalents	(2,091)	(4,026)
Increase in cash	325,991	185,844
Cash, beginning of year	476,587	290,743
Cash, end of year	$ 802,578	$ 476,587

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash	$ 802,578	$ 476,587
Short-term investments	321,084	0
Amounts receivable	2,232	1,727
Prepaid expenses and other assets	21,220	14,358
Lease receivable	512	512
Total Current Assets	1,147,626	493,184
Non-Current assets
Exploration and evaluation assets	812,270	584,889
Property and equipment	7,565	5,354
Investment in associate	153,845	229,594
Strategic inventory	341,150	341,150
Other non-current assets	10,477	3,072
Total assets	2,472,933	1,657,243
Current Liabilities
Accounts payable and accrued liabilities	40,347	18,683
Interest payable	2,594	2,719
Lease liabilities	697	926
Derivative liability	524	0
Convertible debentures	586,214	455,783
Total Current Liabilities	630,376	478,111
Non-current Liabilities
Long-term derivative liability	1,609	0
Other non-current liabilities	8,840	91
Total liabilities	640,825	478,202
Equity
Share capital	2,377,951	1,405,968
Reserves	172,754	142,619
Accumulated other comprehensive income (deficit)	(27,358)	12,017
Accumulated deficit	(691,239)	(381,563)
Total equity	1,832,108	1,179,041
Total liabilities and equity	$ 2,472,933	$ 1,657,243