$FEAM

5E Advanced Materials, Inc.

CIK:0001888654|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Project expenses	$ 5,171	$ 4,999
Small-scale facility operating costs	3,075	4,330
General and administrative	12,103	14,443
Impairment expense	1,608	0
Depreciation and amortization expense	21,362	19,947
Total operating expenses	43,319	43,719
Income (loss) from operations	(43,319)	(43,719)
Non-operating income (expense):
Interest income	444	103
Other income	0	7
Gain (loss) on extinguishment of debt	0	17,333
Derivative gain (loss)	0	1,357
Interest expense	(18)	(6,455)
Other expense	(15)	(2)
Total non-operating income (expense)	411	12,343
Income (loss) before income taxes	(42,908)	(31,376)
Income tax expense (benefit)	0	179
Net income (loss)	$ (42,908)	$ (31,555)
Net income (loss) per common share - basic	$ (1.43)	$ (3.95)
Net income (loss) per common share - diluted	$ (1.43)	$ (3.95)
Weighted average common shares outstanding - basic	29,974	7,996
Weighted average common shares outstanding - diluted	29,974	7,996

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net income (loss)	$ (42,908)	$ (31,555)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	21,362	19,947
Share-based compensation	1,183	2,099
Gain (loss) on extinguishment of debt	0	(17,333)
Common stock issued for services	71	(0)
Gain on convertible note derivatives	0	(1,357)
Impairment expense	1,608	0
Transaction costs incurred in troubled debt restructuring	(0)	(837)
Accretion of asset retirement obligations	99	80
Amortization of debt issuance costs and discount - convertible notes	0	1,095
Amortization of right of use asset	77	141
Interest earned on reclamation bond	(64)	(21)
Other	0	(4)
Change in:
Prepaid expenses and other current assets	143	1,136
Reclamation bond deposits	(600)	(1,200)
Accounts payable and accrued liabilities	33	4,169
Asset retirement settlements	(44)	0
Net cash used in operating activities	(19,040)	(23,640)
Cash Flows From Investing Activities:
Construction in progress	(1,179)	(1,941)
Properties, plant and equipment additions	(6,558)	(124)
Properties, plant and equipment disposals / refunds received	200	96
Other assets	(85)	0
Net cash used in investing activities	(7,622)	(1,969)
Cash Flows From Financing Activities:
Proceeds from issuance of common stock and warrants, net of issuance costs	40,391	9,642
Proceeds from warrant exercises	2,000	0
Proceeds from debt exchange transaction, net of issuance costs	0	4,891
Proceeds from issuance of convertible notes	0	11,000
Debt issuance costs	0	(764)
Proceeds from note payable	60	0
Payments on notes payable	(103)	(42)
Taxes paid for equity award vesting	(72)	(178)
Net cash provided by financing activities	42,276	24,549
Net increase (decrease) in cash and cash equivalents	15,614	(1,060)
Cash and cash equivalents at beginning of period	3,836	4,896
Cash and cash equivalents at end of period	19,450	3,836
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	18	3
Cash paid for taxes	179	0
Noncash Investing and Financing Activities:
Construction in progress transferred to properties, plant and equipment (Note 4)	2,119	0
Accounts payable and accrued liabilities change related to capital additions	(3,472)	180
Accounts payable and accrued liabilities change related to debt issuance costs	(0)	(271)
Accounts payable and accrued liabilities change related to equity issuance costs	(238)	238
Interest paid through issuance of additional convertible notes (Note 7)	0	7,441
Increase in asset retirement costs	0	141
Convertible note derivatives liability reclassification to equity (Note 10)	0	3,601
Net fair value of equity interest exchanged for convertible notes (Note 7 and 10)	$ 0	$ 65,059

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 19,450	$ 3,836
Prepaid expenses and other current assets	634	777
Total current assets	20,084	4,613
Mineral rights and properties, net	7,600	7,735
Construction in progress	3,497	3,050
Properties, plant and equipment, net	34,441	53,658
Reclamation bond deposits	2,196	1,532
Right of use asset	64	141
Other assets	101	0
Total assets	67,983	70,729
Current liabilities:
Accounts payable and accrued liabilities	2,751	6,352
Lease liabilities, current	68	81
Total current liabilities	2,819	6,433
Long-term debt, net	0	22
Lease liabilities	0	68
Asset retirement obligations	1,071	1,016
Total liabilities	3,890	7,539
Commitments and contingencies (Note 14)
Stockholders' Equity:
Common stock, $0.01 par value; 360,000 shares authorized; 41,515 and 20,018 shares outstanding June 30, 2026 and June 30, 2025, respectively	415	200
Additional paid-in capital	338,142	294,546
Retained earnings (accumulated deficit)	(274,464)	(231,556)
Total stockholders' equity	64,093	63,190
Total liabilities and stockholders' equity	$ 67,983	$ 70,729