Rare Element Res Ltd Financials
This page shows Rare Element Res Ltd (REEMF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Rare Element Resources is running as a cash-funded development vehicle, with equity financing and burn management dominating the economics.
After the prior year's recapitalization, cash still slipped from$26.7M to$19.3M in the latest year even as losses narrowed, so the raise bought time rather than solving the funding model. Because shares outstanding had already expanded to 516.1M from 213.0M, the company is being funded mainly through equity dilution; the lower burn and tiny investing outlays point to a spending reset rather than a debt-backed buildout.
The balance sheet is lightly leveraged: total liabilities were only
Cash use is coming mostly from operations, not from building a large asset base; investing outflow was just
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Rare Element Res Ltd'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.
Rare Element Res Ltd carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 14.17, Rare Element Res Ltd holds $14.17 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Rare Element Res Ltd generates a -22.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -67.9% the prior year.
Rare Element Res Ltd passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Rare Element Res Ltd generates $1.45 in operating cash flow (-$7.1M OCF vs -$4.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Rare Element Res Ltd generated $0 in revenue in fiscal year 2025.
Rare Element Res Ltd reported -$4.9M in net income in fiscal year 2025. This represents an increase of 73.4% from the prior year.
Rare Element Res Ltd earned $-0.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 75.0% from the prior year.
Cash & Balance Sheet
Rare Element Res Ltd held $19.3M in cash against $0 in long-term debt as of fiscal year 2025.
Rare Element Res Ltd had 516M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Rare Element Res Ltd's ROE was -22.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 45.9 percentage points from the prior year.
Capital Allocation
REEMF Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | N/A | $0 | $0 | $0 | N/A | $0 | $0 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $580K | N/A | $578K+1.8% | $568K-24.3% | $750K | N/A | $569K-8.7% | $623K |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $6K | N/A | $5K-16.7% | $6K-14.3% | $7K | N/A | $9K0.0% | $9K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.1M | N/A | $1.1M+193.7% | -$1.2M+50.7% | -$2.4M | N/A | -$4.7M+23.4% | -$6.2M |
| EPS (Diluted) | $0.00 | N/A | $0.00 | $0.00 | $0.00 | N/A | $-0.010.0% | $-0.01 |
REEMF Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $52.6M+118.2% | $24.1M-8.8% | $26.4M+1.6% | $26.0M-4.8% | $27.3M-7.9% | $29.7M-10.8% | $33.3M-8.6% | $36.4M |
| Current Assets | $49.7M+134.9% | $21.2M-10.4% | $23.6M+1.7% | $23.2M-5.5% | $24.6M-8.8% | $26.9M-16.2% | $32.1M-8.7% | $35.2M |
| Cash & Equivalents | $47.1M+144.1% | $19.3M-11.0% | $21.7M-5.8% | $23.1M-5.5% | $24.4M-8.7% | $26.7M-9.9% | $29.7M-2.9% | $30.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2.3M+41.1% | $1.6M0.0% | $1.6M | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.9M+4.8% | $1.8M+6.6% | $1.7M-28.4% | $2.4M-5.5% | $2.5M+1.5% | $2.5M-39.6% | $4.1M+63.3% | $2.5M |
| Current Liabilities | $1.6M+7.4% | $1.5M+5.5% | $1.4M-32.0% | $2.1M-5.2% | $2.2M+3.2% | $2.1M-43.2% | $3.7M+78.6% | $2.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $50.7M+127.5% | $22.3M-9.8% | $24.7M+4.7% | $23.6M-4.8% | $24.8M-8.8% | $27.2M-6.7% | $29.1M-14.0% | $33.9M |
| Retained Earnings | -$183.1M-1.2% | -$181.0M-1.4% | -$178.6M+0.6% | -$179.7M-0.7% | -$178.5M-1.4% | -$176.1M-2.3% | -$172.2M-2.8% | -$167.4M |
REEMF Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M-20.4% | -$2.3M-71.5% | -$1.3M-4.1% | -$1.3M+44.1% | -$2.3M-57.4% | -$1.4M-62.0% | -$890K+88.1% | -$7.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $0 | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$890K | N/A |
| Investing Cash Flow | N/A | -$132K-780.0% | -$15K+81.9% | -$83K-40.7% | -$59K+96.1% | -$1.5M | $0 | N/A |
| Financing Cash Flow | $30.6M | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
REEMF Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -4.2% | N/A | 4.5%+9.5pp | -5.0%+4.7pp | -9.7% | N/A | -16.2%+2.0pp | -18.2% |
| Return on Assets | -4.0% | N/A | 4.2%+8.7pp | -4.5%+4.2pp | -8.8% | N/A | -14.2%+2.7pp | -17.0% |
| Current Ratio | 30.99+16.8 | 14.17-2.5 | 16.69+5.5 | 11.16-0.0 | 11.20-1.5 | 12.68+4.1 | 8.59-8.2 | 16.81 |
| Debt-to-Equity | 0.04-0.0 | 0.08+0.0 | 0.07-0.0 | 0.100.0 | 0.10+0.0 | 0.09-0.1 | 0.14+0.1 | 0.07 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Rare Element Res Ltd's annual revenue?
Rare Element Res Ltd (REEMF) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Rare Element Res Ltd profitable?
No, Rare Element Res Ltd (REEMF) reported a net income of -$4.9M in fiscal year 2025.
What is Rare Element Res Ltd's return on equity (ROE)?
Rare Element Res Ltd (REEMF) has a return on equity of -22.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Rare Element Res Ltd's operating cash flow?
Rare Element Res Ltd (REEMF) generated -$7.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Rare Element Res Ltd's total assets?
Rare Element Res Ltd (REEMF) had $24.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Rare Element Res Ltd's current ratio?
Rare Element Res Ltd (REEMF) had a current ratio of 14.17 as of fiscal year 2025, which is generally considered healthy.
What is Rare Element Res Ltd's debt-to-equity ratio?
Rare Element Res Ltd (REEMF) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rare Element Res Ltd's return on assets (ROA)?
Rare Element Res Ltd (REEMF) had a return on assets of -20.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Rare Element Res Ltd's cash runway?
Based on fiscal year 2025 data, Rare Element Res Ltd (REEMF) had $19.3M in cash against an annual operating cash burn of $7.1M. This gives an estimated cash runway of approximately 33 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Rare Element Res Ltd's Piotroski F-Score?
Rare Element Res Ltd (REEMF) has a Piotroski F-Score of 2 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 Rare Element Res Ltd's earnings high quality?
Rare Element Res Ltd (REEMF) has an earnings quality ratio of 1.45x, considered low quality (accrual-driven). 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.
How financially healthy is Rare Element Res Ltd?
Rare Element Res Ltd (REEMF) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.