NioCorp Provides Preliminary Unaudited Financial Results for the Three- and Six-Month Periods Ended December 31, 2025

NioCorp (NASDAQ:NB) reported preliminary unaudited 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

Argus Jan 12 session

+9.52% close to close Open Argus

Details

News Market Reaction – NB

In the Jan 12 session, NB gained 9.52%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +9.5% in the session following this news. A strong positive reaction aligns with pri...

Analysis

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 Figures

Cash balance: $307 million DoD award: Up to $10 million Net loss (Q4 2025 three-month period): $0.8 million ($0.02 per share) +5 more

Cash balance

$307 million

As of December 31, 2025; record cash balance

DoD award

Up to $10 million

Support for Elk Creek Critical Minerals Project activities

Net loss (Q4 2025 three-month period)

$0.8 million ($0.02 per share)

Three months ended December 31, 2025 vs $0.5M ($0.01) prior-year

Adjusted net loss (Q4 2025 three-month period)

$5.3 million ($0.06 per share)

Adjusted, three months ended December 31, 2025 vs $1.9M ($0.05)

Net loss (six months 2025)

$43.4 million ($0.44 per share)

Six months ended December 31, 2025 vs $2.5M ($0.06)

Adjusted net loss (six months 2025)

$13.6 million ($0.15 per share)

Adjusted, six months ended December 31, 2025 vs $3.3M ($0.08)

Operating cash outflows

$7.6 million

Operating cash outflows for six-month period ended December 31, 2025

Non-cash earnout and warrant impact

$26.1 million

Non-cash losses related to earnout shares and warrants in six months 2025

Historical Context

5 past events · Latest: Dec 22

5 events

1. Dec 22

   Project construction update

   24h Move

   -0.7%

   Board-approved Mine Portal Project and defined capital plan at Elk Creek.

2. Dec 11

   Community and policy support

   24h Move

   +2.7%

   Nebraska town halls showing strong local and federal support for Elk Creek.

3. Dec 08

   Conference participation

   24h Move

   +1.8%

   CEO presentation at virtual onshoring critical minerals investor conference.

4. Nov 25

   Town hall announcement

   24h Move

   +1.9%

   Announcement of U.S. Senator attendance at December Elk Creek town hall.

5. Nov 21

   Rights plan adoption

   24h Move

   +9.2%

   Limited-duration shareholder rights plan aimed at protecting shareholder value.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-gaap, adjusted net loss, earnout liability, warrant liability, +1 more

5 terms

non-gaap financial

"Certain information in the following discussion is presented on a Non-GAAP basis..."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

adjusted net loss financial

"including adjusted net loss and adjusted net loss per share."

Adjusted net loss is the company’s reported net loss after removing one-time, non-cash, or unusual items that management says obscure underlying results, such as restructuring charges, asset write-downs, or stock-based pay. Investors use it to focus on the business’s core profitability — like smoothing out potholes to judge road quality — but should be cautious because choices about what to exclude can make performance look better than it really is.

earnout liability financial

"Change in fair value of earnout liability | | (4,188 | )..."

A future payment a buyer has agreed to make after an acquisition if the purchased business hits certain performance targets; it is recorded as a liability because it may become an obligation. Investors care because it affects a company's reported debt and potential cash outflows—similar to promising a bonus if a car you bought later reaches a set mileage, it shifts risk and can change valuation and earnings depending on whether the targets are met.

warrant liability financial

"Change in fair value of warrant liability | | (1,732 | )..."

Warrant liability is the financial obligation a company records when it grants warrants—special options giving the holder the right to buy company shares at a set price in the future. It matters to investors because changes in this liability can affect a company's reported earnings and overall financial health, similar to how a pending contract can influence a company's future value.

form 10-q regulatory

"intends to file its ... financial statements ... in its Quarterly Report on Form 10-Q..."

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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 $307 million following a period of significant derisking of the Elk Creek Critical Minerals Project (the "Project"). During the six-month period, the U.S. Department of Defense awarded Elk Creek Resources Corp. up to $10 million to support certain activities related to the Elk Creek Critical Minerals Project; NioCorp completed an infill drilling campaign for the Project; closed on the acquisition of scandium alloy manufacturing assets of FEA Materials LLC; completed land purchases necessary to secure ownership of all land needed for the Project; and entered into agreements with the U.S. Department of Defense and Lockheed Martin related to scandium-based technologies for potential defense applications.

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.¹

• The 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 $5.9 million related to earnout shares and warrants classified as liabilities on the consolidated balance sheet, driven by a slight decrease in the closing price of the Company's common shares between September 30, 2025 and December 31, 2025. The net loss for the six months ended December 31, 2025 primarily reflects non-cash losses of approximately $26.1 million related to earnout shares and warrants classified as liabilities on the consolidated balance sheet, driven by appreciation of the Company's common shares between June 30, 2025 and December 31, 2025.

NioCorp continues as a development stage company and our operating cash outflows for the six-month period totaled $7.6 million. The increase in adjusted net losses for the three- and six-month periods ended December 31, 2025 primarily reflects expenditures associated with the Company's Elk Creek drilling program and its current feasibility study update efforts.

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 $10.0 million in reimbursement under the U.S. Department of Defense Award; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What cash resources did NioCorp (NB) report as of December 31, 2025?

$307 million cash balance was reported as a record at December 31, 2025.

How much funding did the U.S. Department of Defense award for Elk Creek in 2025 for NB?

The DoD awarded up to $10 million to support certain Elk Creek project activities.

What were NioCorp's net loss and adjusted net loss for the six months ended December 31, 2025?

Six-month net loss $43.4M and adjusted net loss $13.6M were reported.

What operational milestones did NioCorp complete for Elk Creek by December 31, 2025?

Completed an infill drilling campaign, acquired scandium assets, and secured all project land.

When will NioCorp (NB) file its unaudited Form 10-Q for the period ended December 31, 2025?

The company intends to file the unaudited interim condensed consolidated financial statements on or before February 16, 2026.