Every 10-Q that Stardust Power Inc. (SDST) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SDST and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SDST filings page.
Stardust Power Inc., a pre-revenue developer of a lithium refinery, reported continued operating losses and tight liquidity for the quarter and six months ended June 30, 2026. The company is building a Muskogee, Oklahoma facility designed to produce up to 50,000 metric tons per year of battery-grade lithium but has not yet generated revenue.
For the six months, Stardust recorded a net loss of $9,137,586, widening its accumulated deficit to $77,480,170. Cash declined to $540,264 with total assets of $9,054,659 versus total liabilities of $17,295,519, resulting in a stockholders’ deficit of $8,240,860. Operating cash outflow was $4,002,652 in the period.
The company discloses substantial doubt about its ability to continue as a going concern, as expected costs exceed available cash and working capital. To fund operations, it relies on external capital: a $4.8M senior secured convertible note from Lind (with $4,080,000 principal outstanding at June 30), a $10,000,000 B. Riley equity purchase agreement (505,866 shares sold for $1,310,904 net to date), and a $5,000,000 at-the-market program (79,503 shares sold for $161,032 net in Q2). Subsequent to quarter end, a market-cap trigger on August 11, 2026 caused a default under the Lind note, creating an obligation equal to 110% of outstanding principal (about $4.22 million) plus other amounts, with Lind able to accelerate repayment or convert at a discount. Negotiations are ongoing, and Lind had not yet exercised remedies when the statements were issued.
Stardust Power Inc. reported first-quarter 2026 results as a development-stage lithium refinery project with no revenue and a net loss of $5.23 million, compared with $3.81 million a year earlier. Cash fell to $1.24 million from $3.48 million at year-end, and stockholders’ deficit widened to $7.87 million.
The company discloses that these losses, limited cash and expected spending create substantial doubt about its ability to continue as a going concern. To address liquidity, it has a $15 million senior secured convertible note facility, a $10 million equity purchase agreement with B. Riley and a $5 million at-the-market sales program, and continues investing in its planned Muskogee, Oklahoma lithium refinery and related supply and technology agreements.
Stardust Power (SDST) filed its Q3 2025 report, highlighting ongoing development of its U.S. lithium refinery and no revenue to date. The company reported a net loss of $4,459,764 for the quarter and $11,973,902 for the nine months. Management disclosed “substantial doubt” about the company’s ability to continue as a going concern, citing limited cash and continued spending on operations and capital projects.
Cash was $1,585,004 as of September 30, 2025, with operating cash use of $6,548,760 year‑to‑date. The company funded activities through equity: a January 27, 2025 offering of 479,200 shares and warrants ($5.75M gross), a March 16, 2025 warrant exercise ($2.97M gross) paired with new inducement warrants, and a June 18 & 25, 2025 offering of 2,260,000 shares ($4.52M gross). It also utilized its B. Riley equity line (up to $50,000,000) for $1,598,008 of net proceeds during the period.
Stockholders’ deficit narrowed to $(5,120,114) at quarter‑end. Shares outstanding were 8,954,343 as of September 30, 2025, and 9,817,809 as of November 12, 2025 following additional issuances. A 1‑for‑10 reverse stock split became effective on September 8, 2025.