Nemaska Lithium Inc. Financials 2022 – Assets Up, Liabilities Down, Shares Dip

By Bobby Samwell • Tuesday, April 02 10:14 • Permanent Link

Nemaska Lithium Inc. has released its financial statements for the years ended December 31, 2022 and 2021. The company's total assets for 2022 amounted to $409,464, a marginal increase from the $408,067 reported in 2021. Notably, cash and cash equivalents decreased from $28,173 in 2021 to $21,570 in 2022. Additionally, the company reported sales tax receivables of $4,563 in 2022, showing a significant increase from the $1,423 in 2021.

On the liabilities side, the company reported total liabilities of $42,389 in 2022, significantly lower than the $91,364 reported in 2021. The decrease in liabilities is attributed to a reduction in the current portion of long-term debt from $42,699 in 2021 to $3,416 in 2022.

In terms of equity, the company's total equity for 2022 stood at $367,075, reflecting an increase from the $316,703 reported in 2021. This increase can be attributed to the issuance of shares, with the company reporting share capital of $236,429 in 2022, up from $116,429 in 2021.

The company's financial performance for the year ended December 31, 2022, showed a net loss and comprehensive loss of $69,628, a substantial decrease from the $176,340 reported in 2021. The decrease in net loss can be attributed to a reduction in impairment on assets held for sale, which amounted to $1,370 in 2022, significantly lower than the $147,083 reported in 2021.

The company's cash flows from operating activities showed a net decrease in cash and restricted cash of $3,704 in 2022, in contrast to the net increase of $6,062 reported in 2021. Additionally, the company reported a net increase in cash and restricted cash of $65,776 from financing activities in 2022, up from $33,789 reported in 2021.

The company's balance sheet and financial performance indicate various changes in key metrics compared to the previous period, reflecting the company's efforts to manage its assets, liabilities, and equity, as well as its cash flows and financing activities. As a result of these announcements, the company's shares have moved -3.0% on the market, and are now trading at a price of $4.18. For the full picture, make sure to review Arcadium Lithium's 8-K report.

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