NioCorp Provides Preliminary Unaudited Financial Results for the Three- and Six-Month Periods Ended December 31, 2025
Rhea-AI Summary
NioCorp (NASDAQ:NB) reported preliminary unaudited results for the three- and six-month periods ended December 31, 2025. The company held a record $307 million cash balance and received up to $10 million from the U.S. Department of Defense for Elk Creek-related activities. Key actions during the period included an Elk Creek infill drilling campaign, acquisition of scandium alloy manufacturing assets, land purchases securing project acreage, and agreements with the DoD and Lockheed Martin on scandium technologies.
Financials: three-month net loss $0.8M (adjusted net loss $5.3M); six-month net loss $43.4M (adjusted net loss $13.6M); operating cash outflows for six months $7.6M. Results are preliminary and unaudited; full 10-Q expected by Feb 16, 2026.
Positive
- Record cash balance of $307 million
- Up to $10 million award from U.S. Department of Defense
- Acquired scandium alloy manufacturing assets and secured project land
Negative
- Six-month net loss of $43.4 million
- Six-month adjusted net loss of $13.6 million
- Operating cash outflows of $7.6 million in six months
News Market Reaction
On the day this news was published, NB gained 9.52%, reflecting a notable positive market reaction. Argus tracked a peak move of +8.9% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $72M to the company's valuation, bringing the market cap to $832M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
NB was down 2.17% while peers showed mixed moves: WRN up 6.62%, NAK up 1.85%, UAMY up 2.41%, LZM down 0.39%, TMQ flat. Momentum scanner flagged other metals names (CRML, SGML, UAMY) moving up, suggesting today’s setup was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 22 | Project construction update | Positive | -0.7% | Board-approved Mine Portal Project and defined capital plan at Elk Creek. |
| Dec 11 | Community and policy support | Positive | +2.7% | Nebraska town halls showing strong local and federal support for Elk Creek. |
| Dec 08 | Conference participation | Positive | +1.8% | CEO presentation at virtual onshoring critical minerals investor conference. |
| Nov 25 | Town hall announcement | Positive | +1.9% | Announcement of U.S. Senator attendance at December Elk Creek town hall. |
| Nov 21 | Rights plan adoption | Positive | +9.2% | Limited-duration shareholder rights plan aimed at protecting shareholder value. |
Recent company news has generally been received positively, with most project and corporate updates seeing price gains, though there was one instance where positive project progress coincided with a modest decline.
Over the past few months, NB has focused on advancing the Elk Creek Critical Minerals Project and corporate positioning. In November–December 2025, it hosted town halls featuring U.S. federal and state leaders, highlighted at a critical-minerals conference, and announced U.S. Senator participation at local events. A limited-duration shareholder rights plan was also adopted effective November 21, 2025. Against this backdrop of project advancement and governance measures, today’s preliminary earnings update extends the pattern of frequent financial and project transparency.
Regulatory & Risk Context
NioCorp has an effective Form S-3ASR shelf registration dated 2025-10-10, allowing it to offer common shares, warrants, debt securities and units. The shelf is effective through 2028-10-10 and has already supported at least one takedown via a 424B5 prospectus supplement on 2025-10-14, indicating a framework for future capital raising as needed.
Market Pulse Summary
The stock moved +9.5% in the session following this news. A strong positive reaction aligns with prior earnings-style releases, where NB’s average move was about ±9.35%. The market has previously responded sharply to preliminary financial updates and financing milestones. Today’s record cash balance of $307 million and continued Elk Creek de‑risking could be seen as supportive. However, investors have to weigh sizable non‑cash losses, ongoing adjusted net losses, and the existence of an effective S-3ASR shelf that facilitates future capital raises.
Key Terms
non-gaap financial
adjusted net loss financial
earnout liability financial
warrant liability financial
form 10-q regulatory
AI-generated analysis. Not financial advice.
CENTENNIAL, CO / ACCESS Newswire / January 12, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB) today provided its preliminary unaudited financial results for the three- and six-month periods ended December 31, 2025.
As of December 31, 2025, the Company had a record cash balance of
The Company's results for the three- and six-month periods ended December 31, 2025 are presented below. Certain information in the following discussion is presented on a Non-GAAP basis, including adjusted net loss and adjusted net loss per share.
The Company reported a net loss of
$0.8 million , or$0.02 per share, compared to a net loss of$0.5 million , or$0.01 per share, for the three months ended December 31, 2024. On an adjusted basis, the Company reported an adjusted net loss of$5.3 million , or$0.06 per share, compared to an adjusted net loss of$1.9 million , or$0.05 per share, for the prior-year period.¹The Company reported a net loss of
$43.4 million , or$0.44 per share, compared to a net loss of$2.5 million , or$0.06 per share, for the six months ended December 31, 2024. On an adjusted basis, the Company reported an adjusted net loss of$13.6 million , or$0.15 per share, compared to an adjusted net loss of$3.3 million , or$0.08 per share, for the prior-year period.¹
The net loss for the three months ended December 31, 2025 primarily reflects non-cash gains of approximately
NioCorp continues as a development stage company and our operating cash outflows for the six-month period totaled
NioCorp intends to file its unaudited interim condensed consolidated financial statements for the three- and six-month periods ended December 31, 2025 in its Quarterly Report on Form 10-Q on or before February 16, 2026.
1Non-GAAP Measures
The following table presents a reconciliation of the Company's GAAP financial measures to the non-GAAP financial measures referenced above.
NIOCORP DEVELOPMENTS LTD. | ||||||||||||||||
RECONCILIATION OF GAAP FINANCIAL MEASURES TO | ||||||||||||||||
NON-GAAP FINANCIAL MEASURES | ||||||||||||||||
(Unaudited - dollars in thousands, except per share amounts) | ||||||||||||||||
For the Three Months Ended December 31, | For the Six Months Ended December 31, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net (loss) and comprehensive (loss) attributable to the Company | $ | (751 | ) | $ | (450 | ) | $ | (43,410 | ) | $ | (2,521 | ) | ||||
Adjustments: | ||||||||||||||||
Change in fair value of earnout liability | (4,188 | ) | (1,569 | ) | 10,308 | (753 | ) | |||||||||
Change in fair value of warrant liability | (1,732 | ) | (837 | ) | 15,826 | (893 | ) | |||||||||
Share based compensation | 1,075 | 781 | 3,377 | 781 | ||||||||||||
Non-recurring gains | - | - | - | (122 | ) | |||||||||||
Other non-cash items | 281 | 204 | 282 | 222 | ||||||||||||
Adjusted net Loss | $ | (5,315 | ) | $ | (1,871 | ) | $ | (13,617 | ) | $ | (3,286 | ) | ||||
Net loss per common share attributable to the Company | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.44 | ) | $ | (0.06 | ) | ||||
Adjustments: | ||||||||||||||||
Change in fair value of earnout liability | (0.04 | ) | (0.04 | ) | 0.11 | (0.02 | ) | |||||||||
Change in fair value of warrant liability | (0.01 | ) | (0.02 | ) | 0.17 | (0.02 | ) | |||||||||
Share based compensation | 0.01 | - | 0.04 | 0.02 | ||||||||||||
Nonrecurring gains | - | - | - | - | ||||||||||||
Other noncash items | - | - | - | - | ||||||||||||
Adjusted loss per common share | $ | (0.06 | ) | $ | (0.05 | ) | $ | (0.15 | ) | $ | (0.08 | ) | ||||
The Company has included certain non-GAAP financial measures in this press release such as adjusted net loss and adjusted net loss per share. Adjusted net loss for presentation purposes is our net loss plus non-cash items plus (gain)/loss on non-recurring items. These non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"). Because these non-GAAP performance measures do not have any standardized meaning prescribed by U.S. GAAP, they may not be comparable to similar measures presented by other companies. The Company's management believes that presenting adjusted net loss and adjusted net loss per share provides investors with additional insight into underlying operating performance by excluding the non-cash gains and losses noted above. Our presentation of certain non-GAAP financial measures should not be construed to imply that our future results will be unaffected by the types of items excluded from the calculations of non-GAAP measures. These non-GAAP measures are not presented in accordance with U.S. GAAP and the use of these terms vary from others in our industry.
All figures reported above with respect to the three- and six-month periods ended December 31, 2025, are preliminary and are unaudited and subject to change and adjustment as the Company prepares its unaudited interim condensed consolidated financial statements for the three- and six-month periods ended December 31, 2025 and 2024. Accordingly, investors are cautioned not to place undue reliance on the foregoing information. The Company does not intend to provide preliminary results on a regular basis in the future. The preliminary results provided in this news release constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws, are based on several assumptions and are subject to a number of risks and uncertainties. Actual results may differ materially. See "Forward-looking Statements."
# # #
FOR MORE INFORMATION:
Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com
Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, aguthrie@niocorp.com
@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek
ABOUT NIOCORP
NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements regarding our preliminary financial results, and the timing of the filing of the unaudited interim condensed consolidated financial statements for the three- and six-month periods ended December 31, 2025; our progress toward updating the feasibility study for the Elk Creek Project; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full
Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
SOURCE: NioCorp Developments Ltd.
View the original press release on ACCESS Newswire
FAQ
What cash resources did NioCorp (NB) report as of December 31, 2025?
How much funding did the U.S. Department of Defense award for Elk Creek in 2025 for NB?
What were NioCorp's net loss and adjusted net loss for the six months ended December 31, 2025?
What operational milestones did NioCorp complete for Elk Creek by December 31, 2025?
When will NioCorp (NB) file its unaudited Form 10-Q for the period ended December 31, 2025?
