three-month period ended September 30, 2026
Filed Oct 16, 2026NioCorp reported preliminary unaudited net income attributable to NioCorp of $3.7 million, or $0.03 per share (basic), driven primarily by non-cash gains on liability-classified earnout shares and warrants.
The reported profit and $405.1 million cash balance are positive, but the company remains in the development stage and the profit primarily reflected non-cash fair-value gains rather than operating activity.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net income attributable to NioCorp, three-month period ended September 30, 2026other | $3.7M | – | – |
| Basic earnings per share, three-month period ended September 30, 2026other | $0.03 per share (basic) | – | – |
| Non-cash gains related to earnout shares and warrants classified as liabilities, three-month period ended September 30, 2026other | approximately $8.5 million | – | – |
| Cash balance as of September 30, 2026other | $405.1M | – | – |
| Operating cash outflows, three-month period ended September 30, 2026other | $6.1M | – | – |
| Investing outflows, three-month period ended September 30, 2026other | $5.9M | – | – |
What drove it
- Net income primarily reflected non-cash gains of approximately $8.5 million related to earnout shares and warrants classified as liabilities on the consolidated balance sheet.
- The non-cash gains were driven by a decrease in the closing price of the Company’s common shares between June 30, 2026 and September 30, 2026.
- Operating cash outflows primarily represented recurring general and administrative costs and costs related to finalization and issuance of the technical and economic study for the Elk Creek Project.
- Investing outflows primarily represented additional expenditures associated with ongoing construction of the mine portal at the Elk Creek Project.
Concerns
- The Company continues as a development stage company.
- All figures for the three-month period ended September 30, 2026 are preliminary, unaudited, and subject to change and adjustment.
- The reported net income primarily reflected non-cash gains rather than operating activity.
- The Company cites a requirement for significant additional capital and the need to obtain sufficient project financing for construction of the Elk Creek Project.
- The Company identifies a material weakness in internal control over financial reporting and ongoing remediation efforts as a risk.
What to watch
- Filing of unaudited interim condensed consolidated financial statements in the Quarterly Report on Form 10-Q on or before November 16, 2026.
- Any changes or adjustments to the preliminary results for the three-month periods ended September 30, 2026 and 2025.
- Progress on mine portal construction and financing for the Elk Creek Project.
- Whether the Company achieves required milestones and receives the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International.
Balance sheet and cash flow
- Cash balance as of September 30, 2026: $405.1 million.
- Operating cash outflows for the three-month period ended September 30, 2026 totaled $6.1 million.
- Investing outflows for the three-month period ended September 30, 2026 totaled $5.9 million.
Analysis
NioCorp reported preliminary unaudited net income attributable to NioCorp of $3.7 million, or $0.03 per share (basic), for the three-month period ended September 30, 2026. This compares with a net loss attributable to NioCorp of $42.7 million, or $0.53 per share (basic), for the three months ended September 30, 2025. The release attributes the current-period profit primarily to approximately $8.5 million of non-cash gains on earnout shares and warrants classified as liabilities.
The year-over-year swing principally reflects the direction of the Company’s common-share price and the associated remeasurement of these liability-classified instruments. The prior-year loss primarily reflected approximately $32.1 million of non-cash losses on the same instruments, driven by an increase in the closing price of common shares between June 30, 2025 and September 30, 2025. Accordingly, the reported earnings change does not describe operating production or revenue performance.
NioCorp continues as a development stage company. Operating cash outflows totaled $6.1 million and were primarily recurring general and administrative costs plus costs associated with finalizing and issuing the technical and economic study for the Elk Creek Project. Investing outflows totaled $5.9 million, primarily for continuing construction of the mine portal. The Company reported a cash balance of $405.1 million as of September 30, 2026.
The release provides no revenue, segment results, margin measures, operating-income figure, debt balance, capital-return activity, or financial outlook. The principal near-term disclosure event is the intended filing of unaudited interim condensed consolidated financial statements in a Quarterly Report on Form 10-Q on or before November 16, 2026. Management cautioned that the preliminary results are unaudited and subject to change and adjustment.
Not in the filing
stated, not guessed- Revenue
- Segment revenue and segment operating metrics
- Gross profit and gross margin
- Operating income or loss
- Operating expenses
- Income tax expense or benefit and tax rate
- Diluted earnings per share
- Non-GAAP earnings measures and reconciliations
- Operating cash flow
- Free cash flow
- Debt balance
- Capital expenditures as a separately reported line item
- Share repurchases
- Dividend activity
- Forward financial guidance
- Prior-period cash balance
- Prior-year and prior-quarter comparisons for cash outflows
- Named executive commentary or quotes
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.