Leading Edge Materials (LEM) Q1 2026 earnings summary

Executive summary

• Net loss for Q1 2026 was $745,946, slightly improved from Q4 2025 but higher year-over-year due to increased share-based compensation and professional fees.

• Significant progress on Norra Kärr mining lease, with Swedish authorities recommending approval and application submitted to the government.

• Strategic partnerships and project updates in Sweden and Romania, including MoU with Ascension Earth Resources and exploration results at Bihor Sud.

Financial highlights

• Net loss for Q1 2026: $745,946, compared to $756,874 in Q4 2025 and $669,216 in Q1 2025.

• Working capital as of January 31, 2026: $804,249, down from $1,880,436 at October 31, 2025.

• Total assets at January 31, 2026: $30,082,554; accumulated deficit: $53,315,169.

• Basic and diluted loss per share remained at $(0.00) for Q1 2026.

Outlook and guidance

• Sufficient funding for corporate administration and overheads for the next twelve months, but additional capital required to restart Woxna Graphite Mine and advance Norra Kärr and Bihor Sud projects.

• Material uncertainties exist regarding the ability to continue as a going concern without further financing.

• Geopolitical instability and supply chain disruptions heighten the strategic importance of local raw material supply.