Li-Cycle Holdings Corp

NYSE:LICYUnited States

Today

Show headlines and story abstract

• -- Earnings Flash (LICY) LI-CYCLE HOLDINGS Reports Q1 Revenue $4.2M, vs. Street Est of $5.8M, from 3 hours ago by MT Newswires

  3 hours ago by MT Newswires
  Companies Mentioned: LICY
  06:21 AM EDT, 05/10/2024 (MT Newswires) -- ...

• Li-Cycle Reports First Quarter 2024 Operational and Financial Results, from 3 hours ago by Business Wire

  3 hours ago by Business Wire
  Companies Mentioned: LICY

  Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the "Company"), a leading global lithium-ion battery resource recovery company, today announced financial results and business updates for its first quarter ended March 31, 2024.

• Li-Cycle Reports First Quarter 2024 Operational and Financial Results, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: LICY
  ------------------------------- ----------- --- ------------ Commitments and Contingencies ------------------------------ ---------------- --------------------- Equity Common stock and additional paid-in capital Authorized unlimited shares, Issued and outstanding - 179.1 shares at March 31, 2024 (178.2 million shares at December 31, 2023) 651.6 648.3 Accumulated deficit (408.3) (271.6) Accumulated other comprehensive loss (0.3) (0.3) ------------------------------- ----------- --- ------------ Total equity 243.0 376.4 ------------------------------- ----------- --- ------------ Total liabilities and equity $ 932.3 $ 886.0 ------------------------------- ----------- --- ------------ Li-Cycle Holdings Corp. Unaudited condensed consolidated interim statements of operations and comprehensive loss All dollar amounts presented are expressed in millions of US dollars except share and per share amounts -------------------------------------------------------------------------- For the three months ended For the three months March 31, 2024 ended March 31, 2023 ------------------ --------------------------- ------------------------ Revenue Product revenue 1.9 3.1 Recycling service revenue 2.3 0.5 Total revenue 4.2 3.6 Cost of sales Cost of sales - Product revenue (15.9) (19.1) Cost of sales - Recycling service revenue (0.9) -- Total cost of sales (16.8) (19.1) Selling, general and administrative expense (31.7) (22.7) Research and development 0.1 (0.9) ------------------- -------- ------------ --- ----- ----------- --- Loss from operations (44.2) (39.1) ------------------- -------- ------------ ----- ----------- --- Other income (expense) Interest income 0.6 5.0 Interest expense (11.5) (1.1) Foreign exchange gain (loss) 1.1 (0.5) Fair value loss on financial instruments (23.8) (0.7) Debt extinguishment loss (Note 14) (58.9) -- ------------------- -------- ------------ ----- ----------- ---- (92.5) 24.7 Net loss before taxes (136.7) (137.9) ------------------- -------- ------------ ----- ----------- --- Income tax -- (0.1) ------------------- -------- ------------ --- ----- ----------- --- Net loss and comprehensive loss (136.7) (138.0) ------------------- -------- ------------ ----- ----------- --- Loss per common share - basic and diluted $ (0.76) $ (0.21) Li-Cycle Holdings Corp. Unaudited condensed consolidated interim statements of cash flows All dollar amounts presented are expressed in millions of US dollars except share and per share amounts For the three months For the three months ended March 31, 2024 ended March 31, 2023 --------------------- ------------------------ ------------------------ Operating activities Net loss for the period $ (136.7) $ (36.5) Adjustments to reconcile net loss to net cash used in operating activities: Share-based compensation 3.2 3.2 Depreciation and amortization 4.2 1.9 Foreign exchange (gain) loss on translation (1.3) 0.2 Fair value loss on financial instruments 23.8 0.7 Bad debt expense -- 1.0 Inventory write downs to net realizable value 1.8 2.1 Loss on write off of fixed assets 0.1 -- Interest and accretion on convertible debt 11.5 1.1 Debt extinguishment loss (Note 14) 58.9 -- Non-cash lease expense (1.1) (0.1) ---------------------- ------ --------- ---- ------ --------- ---- (35.6) (26.4) Changes in working capital items: Accounts receivable (1.9) (0.4) Other receivables 0.3 4.4 Prepayments and deposits 2.1 (3.3) Inventories (0.4) 0.5 Deferred revenue 2.1 -- Accounts payable and accrued liabilities 4.3 2.8 ---------------------- ------ --------- ----- ------ --------- ----- Net cash used in operating activities (29.1) (22.4) ---------------------- ------ --------- ---- ------ --------- ---- Investing activities Purchases of property, plant, equipment, and other assets (6.2) (86.3) ---------------------- ------ --------- ---- ------ --------- ---- Net cash used in investing activities (6.2) (86.3) ---------------------- ------ --------- ---- ------ --------- ---- Financing activities Proceeds from convertible debt 75.0 -- Payments of transaction costs (1.3) -- ---------------------- ------ --------- ---- ------ --------- ----- Net cash provided by financing activities 73.7 -- --------------------- ------ --------- ----- ------ --------- ----- Net change in cash, cash equivalents and restricted cash 38.4 (108.7) Cash, cash equivalents and restricted cash, beginning of period 80.3 517.9 ---------------------- ------ --------- ----- ------ --------- ----- Cash, cash equivalents and restricted cash, end of period $ 118.7 $ 409.2 Supplemental non-cash investing activities: Purchases of property and equipment included in liabilities $ 16.7 $ 25.4 Decreases of property and equipment and liabilities for credits from suppliers $ 24.4 $ -- Supplemental information: Interest paid -- (0.1)
  

• Press Release: Li-Cycle Reports First Quarter 2024 Operational and Financial Results, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: LICY