Lightbridge(LTBR) - 2022 Q4 - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company's working capital position at December 31, 2022, was $28.7 million, compared to$24.7 million at December 31, 2021 [20] - Total cash used in operating activities totaled $6.7 million, a decrease of$4.3 million in 2022 compared to 2021 [21] - Net loss for the year ended December 31, 2022, was $7.5 million, compared to$7.8 million for 2021 [32] Business Line Data and Key Metrics Changes - Total R&D expenses amounted to $0.7 million for the year ended December 31, 2022, compared to$1.4 million for the year ended December 31, 2021, a decrease of 0.7 million [32] - Total G&A expenses for the year ended December 31, 2022, were 7.5 million compared to $7.1 million for the prior year, an increase of$0.4 million [33] Market Data and Key Metrics Changes - The company highlighted a growing interest in nuclear energy, with 90 nuclear power reactors on order or being planned worldwide, and over 300 reactors at the proposal stages [28] - The recent geopolitical events, particularly Russia's invasion of Ukraine, have heightened the focus on energy security, leading to increased momentum for nuclear power [25][26] Company Strategy and Development Direction - The company is pursuing strategic partnerships, including a project agreement with the DOE and Idaho National Laboratory, to advance Lightbridge Fuel development [7][10] - The company plans to invest $6.5 million in research and development over the next 12 to 15 months to support its fuel development [30] Management's Comments on Operating Environment and Future Outlook - Management noted that accountability for achieving net-zero carbon targets is driving momentum toward more nuclear-friendly policies [25] - The company believes that nuclear power is essential for expanding the availability of clean and reliable baseload electricity without carbon emissions [18] Other Important Information - The company successfully completed a project at Pacific Northwest National Lab to demonstrate its nuclear fuel casting process using depleted uranium, a key step in manufacturing Lightbridge Fuel [9][17] - The company expects to continue seeking government funding and forming strategic alliances to support future R&D milestones [30] Q&A Session Summary - The conference call concluded without a Q&A session, as indicated by the closing remarks from the CEO [35]