In This Story
Li-Cycle Holdings Corp. (LICY0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, reporting a net loss of $137.7 million for the year, compared to a net loss of $138.0 million in the previous year.
Total revenue for 2024 was $28.0 million, an increase from $18.3 million in 2023, driven by higher recycling service revenue and favorable pricing adjustments.
Cost of sales decreased to $76.6 million from $81.8 million in 2023, reflecting lower inventory adjustments and material costs.
Li-Cycle's selling, general, and administrative expenses decreased to $75.3 million from $93.4 million in 2023, attributed to a reduction in personnel costs and administrative expenses.
Research and development expenses were reduced to $1.6 million from $5.7 million in the previous year, due to decreased consulting fees and employee costs.
Other expenses totaled $12.2 million, a decrease from $24.7 million in 2023, primarily due to interest expense and a fair value gain on financial instruments.
The company ended the year with $22.6 million in cash and cash equivalents, a decrease from $70.6 million at the end of 2023.
Li-Cycle continues to focus on its Cash Preservation Plan and is actively exploring financing options to support its operations and capital projects, including the Rochester Hub.
The filing also outlines the company's strategic initiatives, including the pause of construction at the Rochester Hub and the re-evaluation of its Spoke and Hub network strategy.
The company acknowledges the substantial doubt about its ability to continue as a going concern without additional financing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Li-Cycle Holdings Corp. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.