Piedmont Lithium Inc. (PLL) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Aug 7, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLL SEC filings page.
Piedmont Lithium Inc. (PLL) reported $105.1M in revenue over the twelve months to Jun 30, 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is scaling, but each dollar remains structurally unprofitable, while lower capital spending masks continued cash consumption.
Revenue more than doubled, while gross margin fell from14.3% to10.8% ; scale did not improve unit economics. Operating cash flow moved from$1.6M positive to-$42.9M , so reported sales growth did not translate into cash generation.
FY2024 gross profit was
Capital intensity eased sharply: capex fell from
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Piedmont Lithium Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Piedmont Lithium Inc. held $94.7M in cash, cash equivalents and investments at the end of fiscal year 2024, and its operations used $42.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Piedmont Lithium Inc. scores 51/100 among other emerging companies.
Piedmont Lithium Inc. had 22M shares outstanding at the end of fiscal year 2024, against 19M in fiscal year 2023. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Piedmont Lithium Inc. scores 54/100 among other emerging companies.
Not available for Piedmont Lithium Inc., and counted as zero in the overall score.
Piedmont Lithium Inc. reported revenue of $99.9M in fiscal year 2024, against $39.8M in fiscal year 2023. Revenue Progress ranks emerging companies on the three-year path of that line, and Piedmont Lithium Inc. scores 89/100 among other emerging companies.
Piedmont Lithium Inc.'s operations used $42.9M of cash in fiscal year 2024, against $1.6M generated in fiscal year 2023. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Piedmont Lithium Inc. scores 25/100 among other emerging companies.
Piedmont Lithium Inc.'s cash, cash equivalents and investments came to $94.7M at the end of fiscal year 2024, against $51.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Piedmont Lithium Inc. scores 72/100 among other emerging companies.
Piedmont Lithium Inc. scores 1.04, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($159.1M) relative to total liabilities ($51.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Piedmont Lithium Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Piedmont Lithium Inc. reported a net loss of $64.8M while operations used $42.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Piedmont Lithium Inc. reported an operating loss of $55.7M against $1.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Piedmont Lithium Inc. generated $11.9M in revenue in Q2 2025. This represents a decrease of 10.4% from the same quarter a year earlier. Against the prior quarter it is down 40.7%.
Piedmont Lithium Inc.'s EBITDA was -$9.5M in Q2 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.6% from the same quarter a year earlier. Against the prior quarter it is up 19.1%.
Piedmont Lithium Inc. reported -$9.7M in net income in Q2 2025. This represents an increase of 27.0% from the same quarter a year earlier. Against the prior quarter it is up 37.7%.
Piedmont Lithium Inc. earned -$0.44 per diluted share (EPS) in Q2 2025. This represents an increase of 36.2% from the same quarter a year earlier. Against the prior quarter it is up 38.0%.
Cash & Balance Sheet
Piedmont Lithium Inc. recorded an outflow of $2.5M in free cash flow in Q2 2025, representing a cash shortfall after capex. This represents an increase of 32.8% from the same quarter a year earlier. Against the prior quarter it is up 88.0%.
Piedmont Lithium Inc. held $56.1M in cash against $3.0M in long-term debt as of Q2 2025.
Not reported for Q2 2025.
Margins & Returns
Piedmont Lithium Inc.'s gross margin was -13.8% in Q2 2025, indicating the percentage of revenue retained after direct costs. This is down 18.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 14.4 percentage points.
Piedmont Lithium Inc.'s operating margin was -80.9% in Q2 2025, reflecting core business profitability. Against the prior quarter it is down 21.7 percentage points. No change is given against Q2 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Piedmont Lithium Inc.'s net profit margin was -82.1% in Q2 2025, showing the share of revenue converted to profit. Against the prior quarter it is down 4.0 percentage points. No change is given against Q2 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Piedmont Lithium Inc.'s ROE was -3.5% in Q2 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.
Capital Allocation
Piedmont Lithium Inc. invested $280K in capex in Q2 2025, funding long-term assets and infrastructure. This represents a decrease of 91.2% from the same quarter a year earlier. Against the prior quarter it is down 79.5%.
Not reported for Q2 2025.
Not reported for Q2 2025.
PLL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.9M-10.4% | $20.0M+49.2% | $45.6M | $27.7M-41.3% | $13.2M | $13.4M | N/A | $47.1M |
| Cost of Revenue | $13.5M+7.0% | $19.9M+56.3% | $38.8M | $25.0M+7.0% | $12.6M | $12.7M | N/A | $23.4M |
| Gross Profit | -$1.6M-360.7% | $134K-80.6% | $6.8M | $2.7M-88.8% | $626K | $691K | N/A | $23.8M |
| SG&A Expenses | $6.4M-28.7% | $6.8M-16.3% | $12.1M | $9.5M-15.4% | $9.0M-24.8% | $8.1M-6.1% | N/A | $11.2M+56.2% |
| Operating Income | -$9.6M+29.6% | -$11.9M+19.2% | -$12.5M | -$14.9M-193.5% | -$13.6M+9.8% | -$14.7M-21.1% | N/A | $16.0M+266.3% |
| EBITDA | -$9.5M+29.6% | -$11.8M+19.2% | -$12.4M | -$14.9M-192.7% | -$13.5M+9.9% | -$14.6M-20.9% | N/A | $16.0M+267.4% |
| Interest Expense | $532K+600.0% | $561K+152.7% | $536K | $169K+2012.5% | $76K+581.0% | $222K+1380.0% | N/A | $8K-61.9% |
| Income Tax | $0+100.0% | $0+100.0% | -$37K | $0-100.0% | -$2K-100.3% | -$3.1M-727.4% | N/A | $2.0M-40.7% |
| Net Income | -$9.7M+27.0% | -$15.6M+33.8% | -$11.1M | -$16.7M-172.9% | -$13.3M-25.3% | -$23.6M-173.3% | N/A | $22.9M+37.4% |
| EPS (Basic) | -$0.44+36.2% | -$0.71+41.8% | -$0.53+60.2% | -$0.86-172.3% | -$0.69-25.5% | -$1.22-159.6% | -$1.33-114.5% | $1.19+28.0% |
| EPS (Diluted) | -$0.44+36.2% | -$0.71+41.8% | -$0.53+60.2% | -$0.86-172.3% | -$0.69-25.5% | -$1.22-159.6% | -$1.33-114.5% | $1.19+29.3% |
| Diluted Shares (Avg) | 22M+13.3% | 22M+13.5% | N/A | 19M+0.8% | 19M+1.0% | 19M+4.3% | N/A | 19M+6.4% |
Not reported in any period shown, so not listed: R&D Expenses.
PLL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $318.5M-6.2% | $327.0M-2.5% | $349.9M-8.2% | $329.2M-17.1% | $339.6M-1.0% | $335.2M-3.6% | $381.3M+32.4% | $397.4M+33.4% |
| Current Assets | $65.3M-21.9% | $82.5M-4.1% | $102.6M+34.8% | $73.7M-39.7% | $83.7M-10.6% | $86.0M-34.2% | $76.2M-25.2% | $122.2M+1.0% |
| Cash & Equivalents | $56.1M-4.9% | $65.4M-8.5% | $87.8M+22.5% | $64.4M-31.9% | $59.0M-33.5% | $71.4M-44.7% | $71.7M-27.7% | $94.5M-19.6% |
| Short-Term Investments | $3.1M-61.7% | $3.3M-57.4% | $6.9M | $5.6M | $8.0M | $7.6M | $0 | $0 |
| Accounts Receivable | $4.1M-69.2% | $11.9M+179.3% | $5.6M+843.4% | $1.1M-95.4% | $13.3M | $4.2M | $595K | $23.3M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $40.9M+2.2% | $43.7M+81.0% | $51.6M+5.5% | $43.0M-12.7% | $40.0M+128.7% | $24.1M+51.1% | $48.9M+177.5% | $49.3M+295.3% |
| Current Liabilities | $36.1M+0.3% | $38.4M+104.3% | $46.1M+11.5% | $37.0M-13.6% | $36.0M+183.2% | $18.8M+56.5% | $41.4M+208.4% | $42.9M+495.1% |
| Non-Current Liabilities | $4.8M+19.6% | $5.3M-1.0% | $5.5M-26.8% | $6.0M-6.9% | $4.0M-16.4% | $5.3M+34.7% | $7.6M+79.1% | $6.4M+22.2% |
| Long-Term Debt | $3.0M+43.2% | $3.4M+1575.5% | $3.7M+25985.7% | $4.1M+9193.2% | $2.1M+2766.9% | $204K+104.3% | $14K-91.4% | $44K-82.0% |
| Total Equity | $277.6M-7.3% | $283.3M-8.9% | $298.2M-10.3% | $286.2M-17.8% | $299.6M-7.9% | $311.1M-6.2% | $332.3M+23.0% | $348.1M+22.0% |
| Retained Earnings | -$217.0M-32.5% | -$207.2M-37.7% | -$191.6M-51.1% | -$180.5M-76.9% | -$163.8M-31.1% | -$150.5M-31.6% | -$126.8M-20.1% | -$102.0M-7.7% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
PLL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.2M-373.4% | -$19.2M+32.4% | -$6.4M-67.8% | -$7.7M-130.7% | -$459K+95.5% | -$28.3M-197.8% | -$3.8M+13.0% | $25.1M+699.2% |
| Depreciation & Amortization | $56K-25.3% | $63K-22.2% | $63K-35.7% | $65K-4.4% | $75K+23.0% | $81K+80.0% | $98K | $68K+219.7% |
| Stock-Based Compensation | $891K-65.4% | $982K-52.5% | N/A | $2.2M-27.3% | $2.6M-19.2% | $2.1M+83.7% | N/A | $3.1M+143.4% |
| Capital Expenditures | $280K-91.2% | $1.4M-74.8% | $99K-99.2% | $2.0M-88.0% | $3.2M-68.6% | $5.4M-70.7% | $11.7M+205.9% | $16.3M+57.2% |
| Free Cash Flow | -$2.5M+32.8% | -$20.5M+39.2% | -$6.5M+58.1% | -$9.7M-209.6% | -$3.7M+82.1% | -$33.8M-20.4% | -$15.6M-88.9% | $8.8M+160.5% |
| Investing Cash Flow | -$6.8M+40.4% | -$2.3M-108.1% | -$603K+96.8% | -$4.1M+78.4% | -$11.4M+62.4% | $28.7M+191.2% | -$18.9M-34.6% | -$18.8M-10.0% |
| Financing Cash Flow | -$369K+42.9% | -$984K-49.3% | $30.5M+37313.4% | $17.1M+3350.9% | -$646K-433.9% | -$659K-100.9% | -$82K-213.9% | -$527K-247.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PLL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -13.8%-18.5pp | 0.7%-4.5pp | 15.0% | 9.6%-40.8pp | 4.7% | 5.2% | N/A | 50.4% |
| Operating Margin | -80.9% | -59.3% | -27.3% | -53.9%-87.8pp | -103.0% | -109.5% | N/A | 33.9% |
| Net Margin | -82.1% | -78.2% | -24.4% | -60.3%-108.9pp | -100.8% | -176.2% | N/A | 48.6% |
| Return on Equity | -3.5%+0.9pp | -5.5%+2.1pp | -3.7% | -5.8%-12.4pp | -4.5%-1.2pp | -7.6%-5.0pp | N/A | 6.6%+0.7pp |
| Return on Assets | -3.1%+0.9pp | -4.8%+2.3pp | -3.2% | -5.1%-10.8pp | -3.9%-0.8pp | -7.0%-4.6pp | N/A | 5.8%+0.2pp |
| Current Ratio | 1.81-0.5x | 2.15-2.4x | 2.23+0.4x | 1.99-0.9x | 2.32-5.0x | 4.57-6.3x | 1.84-5.8x | 2.85-13.9x |
| Debt-to-Equity | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| Asset Turnover | 0.040.0x | 0.060.0x | 0.13 | 0.080.0x | 0.040.0x | 0.040.0x | N/A | 0.12+0.1x |
| FCF Margin | -20.7%+6.9pp | -102.6% | -14.3% | -34.9%-53.6pp | -27.6% | -251.8% | N/A | 18.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Piedmont Lithium Inc. PLL | FY2024 | $99.9M | -$64.8M | -64.8% | $159.1M | 49/100 |
| ioneer Ltd IONR | FY2025 | $0 | -$9.6M | N/A | $214.5M | — |
| Largo Inc. LGO | FY2025 | $109.9M | -$68.7M | -62.5% | $47.7M | 10/100 |
| U.S. GoldMining Inc. USGO | FY2025 | N/A | -$7.0M | N/A | $79.4M | — |
| Fury Gold Mines Limited FURY | FY2021 | N/A | $16.8M | N/A | $95.8M | — |
| Brazil Potash Corp. GRO | FY2025 | N/A | -$52.2M | N/A | $128.2M | — |
Where Piedmont Lithium Inc. Ranks
Frequently Asked Questions
What is Piedmont Lithium Inc.'s annual revenue?
Piedmont Lithium Inc. (PLL) reported $99.9M in total revenue for fiscal year 2024. This represents a 150.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Piedmont Lithium Inc.'s revenue growing?
Piedmont Lithium Inc. (PLL) revenue grew by 150.8% year-over-year, from $39.8M to $99.9M in fiscal year 2024.
Is Piedmont Lithium Inc. profitable?
No, Piedmont Lithium Inc. (PLL) reported a net income of -$64.8M in fiscal year 2024, with a net profit margin of -64.8%.
What is Piedmont Lithium Inc.'s EBITDA?
Piedmont Lithium Inc. (PLL) had EBITDA of -$55.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Piedmont Lithium Inc. have?
As of fiscal year 2024, Piedmont Lithium Inc. (PLL) had $87.8M in cash and equivalents against $3.7M in long-term debt.
What is Piedmont Lithium Inc.'s gross margin?
Piedmont Lithium Inc. (PLL) had a gross margin of 10.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Piedmont Lithium Inc.'s operating margin?
Piedmont Lithium Inc. (PLL) had an operating margin of -55.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Piedmont Lithium Inc.'s net profit margin?
Piedmont Lithium Inc. (PLL) had a net profit margin of -64.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Piedmont Lithium Inc.'s return on equity (ROE)?
Piedmont Lithium Inc. (PLL) has a return on equity of -21.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Piedmont Lithium Inc.'s free cash flow?
Piedmont Lithium Inc. (PLL) recorded an outflow of $53.6M in free cash flow during fiscal year 2024. This represents a 2.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Piedmont Lithium Inc.'s operating cash flow?
Piedmont Lithium Inc. (PLL) recorded an outflow of $42.9M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Piedmont Lithium Inc.'s total assets?
Piedmont Lithium Inc. (PLL) had $349.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Piedmont Lithium Inc.'s capital expenditures?
Piedmont Lithium Inc. (PLL) invested $10.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Piedmont Lithium Inc.'s current ratio?
Piedmont Lithium Inc. (PLL) had a current ratio of 2.23 as of fiscal year 2024, which is generally considered healthy.
What is Piedmont Lithium Inc.'s debt-to-equity ratio?
Piedmont Lithium Inc. (PLL) had a debt-to-equity ratio of 0.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Piedmont Lithium Inc.'s return on assets (ROA)?
Piedmont Lithium Inc. (PLL) had a return on assets of -18.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does Piedmont Lithium Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Piedmont Lithium Inc. (PLL) held $94.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $42.9M over that year. Dividing the one by the other, the reported balance equals about 26 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Piedmont Lithium Inc.'s Altman Z-Score?
Piedmont Lithium Inc. (PLL) has an Altman Z-Score of 1.04, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Piedmont Lithium Inc.'s Piotroski F-Score?
Piedmont Lithium Inc. (PLL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Piedmont Lithium Inc.'s earnings high quality?
Piedmont Lithium Inc. (PLL) reported a net loss of $64.8M while operations used $42.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Piedmont Lithium Inc. cover its interest payments?
Piedmont Lithium Inc. (PLL) reported an operating loss of $55.7M against $1.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Piedmont Lithium Inc.?
Piedmont Lithium Inc. (PLL) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.