Lithium Americas Corp. filed its Annual Report on Form 10-K on March 28, 2025, reporting its audited consolidated financial statements for the year ended December 31, 2024. The company reported a net loss of $42.6 million for 2024, an increase from $5.1 million in 2023.
The widened net loss was primarily due to higher transaction costs related to advancing and closing the DOE Loan and the GM joint venture, as well as a loss on the fair value of financial instruments. Cash, cash equivalents, and restricted cash stood at $594.2 million as of December 31, 2024, up from $195.8 million at December 31, 2023.
Total assets increased to $1,044.9 million, driven by cash received from an offering and the GM joint venture, and capitalization of Thacker Pass construction costs. The company reiterated its focus on executing the detailed plan to bring Thacker Pass to production in late 2027, following the final investment decision.
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