Pulsar Helium (PLSR) Q4 2025 earnings summary

Executive summary

• Completed deepening of Jetstream #1 and drilling of Jetstream #2 at the Topaz project, confirming high helium concentrations well above commercial thresholds.

• Initiated a multi-well drill program in October 2025 to delineate the Topaz reservoir, with three holes completed and five wells expected.

• Achieved dual listing on AIM and TSXV, broadening investor base and raising significant capital.

Financial highlights

• Reported net loss of $9,645,889 for the year ended September 30, 2025, compared to $20,346,712 in the prior year.

• No revenue generated for the year.

• Basic and diluted loss per share improved to $(0.07) from $(0.22) year-over-year.

• Recorded a non-cash revaluation gain of warrant liability of $1,895,724, compared to a loss of $8,824,439 in the previous year.

Outlook and guidance

• Ongoing drilling and data integration to inform future resource estimation, production modeling, and development planning at Topaz.

• Plans for full plant construction contract and final investment decision in 2026.

• Aims to become a significant helium supplier amid tightening global market conditions.