Quarterly ResultMay 7, 2026, 04:23 PM
Atlas Lithium Q1 Net Loss $(13.56)M; Revenue $74K
AI Summary
Atlas Lithium Corp reported a net loss attributable to stockholders of $(13.56) million for Q1 2026, widening from $(9.02) million in Q1 2025, despite a significant increase in net revenue to $74,386. The loss per share improved to $(0.50) from $(0.55) due to a higher number of outstanding shares. The company also announced a change in the functional currency of its Brazilian subsidiaries to U.S. Dollars, effective January 1, 2026, following the Nasdaq listing of Atlas Critical Minerals.
Key Highlights
- Net loss attributable to stockholders widened to $(13.56) million in Q1 2026.
- Net revenue increased by 195.5% to $74,386 in Q1 2026.
- Loss per share improved to $(0.50) in Q1 2026 from $(0.55) in Q1 2025.
- Cash and cash equivalents were $34.36 million as of March 31, 2026.
- Total assets stood at $87.45 million as of March 31, 2026.
- Total liabilities were $34.72 million as of March 31, 2026.
- Brazilian subsidiaries changed functional currency to U.S. Dollars effective January 1, 2026.
- Q1 2026 revenue was exclusively from the Iron ore project, from one customer.