v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting  
Segment Reporting

Note 9. Segment Reporting

 

The Company has one reportable business segment: nuclear fuel technology. This segment consists of the research and development and commercialization of its nuclear fuel. The Company’s chief operating decision maker (CODM) is the chief executive officer. The CODM assesses performance for the segment and allocates resources based on net loss as reported on the consolidated statement of operations. The CODM also reviews total assets as reported on the consolidated balance sheet to assess capital deployment and liquidity available to support the Company's commercialization strategy. The measure of segment assets is reported on the consolidated balance sheet as total assets.

 

The table below summarizes the significant expense categories regularly provided to the CODM for the three and six months ended June 30, 2026 and 2025 (in millions):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

$—

 

 

$—

 

 

$—

 

 

$—

 

General and administrative

 

 

3.7

 

 

 

2.5

 

 

 

8.0

 

 

 

6.0

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INL project (1)

 

 

1.0

 

 

 

0.8

 

 

 

1.8

 

 

 

1.6

 

Project development

 

 

0.4

 

 

 

—

 

 

 

0.4

 

 

 

—

 

IT expenses (2)

 

 

0.3

 

 

 

0.1

 

 

 

0.8

 

 

 

0.1

 

Allocated employee compensation and stock-based compensation

 

 

2.0

 

 

 

0.6

 

 

 

3.8

 

 

 

1.4

 

Other outside R&D expenses

 

 

0.3

 

 

 

0.1

 

 

 

0.5

 

 

 

0.2

 

Other segments items (3)

 

 

(1.9 )

 

 

(0.6 )

 

 

(3.2 )

 

 

(1.0 )

Net loss

 

$(5.8 )

 

$(3.5 )

 

$(12.1 )

 

$(8.3 )

 

(1)

These expenses relate to cost reimbursable work performed during the reporting period by BEA to support the development of Lightbridge Fuel™.

 

 

(2)

These expenses primarily relate to the Company’s high-performance computer, including related computer hardware, software, and operating expenses.

 

 

(3)

Other segment item represents interest income from the Company’s cash and cash equivalents.