WESTWATER RESOURCES, INC. WWR
Westwater Resources, Inc., is an energy technology company focused on developing battery-grade natural graphite materials through a vertically integrated, mine-to-market strategy anchored by its two primary projects in Coosa County, Alabama: the Kellyton Graphite Plant and the Coosa Graphite Deposit. Although the Company was originally incorporated in 1977, it shifted its strategic focus to the graphite business in 2017. Once operational, Westwater expects the Kellyton Graphite Plant to process natural flake graphite and estimates 12,500 metric tons ("mt") of CSPG production per year in Phase I. CSPG is primarily used in anode active material ("AAM") in lithium-ion batteries. Westwater also holds mineral rights to explore and mine the Coosa Graphite Deposit, which Westwater anticipates will eventually provide natural graphite flake concentrate as feedstock to the Kellyton Graphite Plant. The Coosa Graphite Deposit is located near Rockford, Alabama at 32 ° 54' 30" North and 86 ° 24' 00" West.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $0 | $0 | — | — |
| R&D | $1.1M | $1.2M | $2.9M | $1.1M | — | — | — | — | — | — |
| SG&A | $12.4M | $10.0M | $9.8M | $9.9M | $8.9M | $5.7M | $4.5M | $7.0M | $6.6M | $7.7M |
| Total operating expenses | $14.5M | $11.5M | $13.3M | $12.1M | $18.2M | $11.2M | $6.3M | $36.0M | $24.8M | $13.3M |
| Operating income | — | — | — | — | — | -$11.2M | -$6.3M | -$36.0M | — | — |
| Interest expense | — | — | — | — | — | — | $291.0K | $735.0K | $614.0K | $2.8M |
| Pre-tax income | -$27.3M | -$12.7M | -$7.8M | -$11.1M | -$16.1M | -$13.9M | -$6.0M | -$35.7M | -$19.3M | -$19.6M |
| Net income | -$27.3M | -$12.7M | -$7.8M | -$11.1M | -$16.1M | -$23.6M | -$10.6M | -$35.7M | -$19.3M | -$19.6M |
| EPS, basic | -0.32 | -0.22 | -0.15 | -0.25 | -0.49 | -1.58 | — | — | — | — |
| EPS, diluted | -0.32 | -0.22 | -0.15 | -0.25 | -0.49 | -1.58 | -5.39 | -38.47 | -0.78 | -3.73 |
| Shares, diluted (wtd. avg.) | 86.0M | 58.5M | 52.0M | 44.9M | 32.7M | 8.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $48.6M | $4.3M | $10.9M | $75.2M | $115.3M | $50.3M | $1.9M | $1.6M | $4.1M | $3.3M |
| Short-term investments | — | — | — | — | — | $1.5M | — | $415.0K | $1.4M | — |
| Total current assets | $48.9M | $4.9M | $11.6M | $76.1M | $115.6M | $52.6M | $2.4M | $4.2M | $7.8M | $3.9M |
| Property, plant and equipment | $143.2M | $137.9M | $132.4M | $90.1M | $14.5M | $9.0M | $9.0M | $20.6M | $35.4M | $46.9M |
| Total assets | $194.5M | $146.4M | $149.8M | $168.4M | $133.0M | $61.9M | $27.0M | $30.0M | $50.2M | $56.9M |
| Accounts payable | $4.0M | $9.5M | $6.0M | $23.0M | $3.0M | $1.7M | $852.0K | $776.0K | $538.0K | $610.0K |
| Total current liabilities | $11.6M | $11.8M | $7.8M | $25.1M | $5.3M | $4.3M | $4.2M | $3.2M | $4.0M | $8.1M |
| Total liabilities | $13.0M | $13.2M | $9.4M | $26.4M | $6.8M | $4.5M | $9.9M | $9.2M | $9.1M | $13.9M |
| Retained earnings | -$401.0M | -$373.7M | -$361.0M | -$353.3M | -$342.2M | -$326.0M | -$302.4M | -$291.9M | -$256.2M | -$236.9M |
| Total equity | $181.5M | $133.1M | $140.4M | $142.0M | $126.2M | $57.5M | $17.1M | $20.8M | $41.1M | $43.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.9M | -$5.8M | -$11.4M | -$13.2M | -$16.9M | -$15.2M | -$10.0M | -$11.6M | -$11.6M | -$12.3M |
| Depreciation and amortisation | — | — | — | — | — | — | $73.0K | $116.0K | $142.0K | $247.0K |
| Stock-based compensation | $3.9M | $1.3M | $837.0K | $1.0M | $879.0K | $367.0K | $98.0K | $332.0K | $101.0K | $195.0K |
| Capital expenditure | $11.7M | $6.1M | $58.3M | $52.8M | $3.4M | $81.0K | — | — | $100.0K | $26.0K |
| Investing cash flow | -$11.4M | -$4.6M | -$58.3M | -$52.8M | -$2.1M | -$4.1M | $3.8M | $525.0K | $1.0M | $221.0K |
| Financing cash flow | $65.6M | $3.9M | $5.4M | $25.9M | $84.0M | $63.9M | $6.7M | $8.7M | $11.0M | $14.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-032111.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$19.6M | -$19.3M | -$35.7M | -$10.6M | -$23.6M | -$16.1M | -$11.1M | -$7.8M | -$12.7M | -$27.3M |
Recent filings and events
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Regulation FD disclosure Item 7.01
- Material agreement terminated Item 1.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 1000
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SCCO | SOUTHERN COPPER CORP/ | $154.36B | 35.3x | 17.4% |
| FCX | FREEPORT-MCMORAN INC | $93.60B | — | 0.1% |
| CLF | CLEVELAND-CLIFFS INC. | $7.93B | — | -3.0% |
| MP | MP Materials Corp. / DE | $6.82B | — | 10.1% |
| IE | Ivanhoe Electric Inc. | $1.25B | 9.9x | 11.8% |
| USAR | USA Rare Earth, Inc. | $1.24B | — | — |
| TMC | TMC the metals Co Inc. | $1.07B | 2.9x | — |
| LAC | LITHIUM AMERICAS CORP. | $751.5M | — | — |