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Earnings

Helium Evolution Announces Filing of Third Quarter 2025 Financial Results

By The Northwire Desk — AI Analysis Nov 18, 2025 · 17:00 HEVI · 0.18 Helium Evolution Incorporated
HEVI · Price

Executive Summary

  • Helium Evolution filed its Q3 2025 interim condensed financial statements and MD&A, reporting a net loss of C$1.76 M for the quarter and C$2.64 M for the nine‑month period.
  • The company completed an $8.3 million convertible note financing in August 2025, which was converted to common shares in October 2025, eliminating debt and strengthening working capital.
  • Construction of the Soda Lake helium processing facility was finished during Q3 2025, with production commencing in October 2025, marking a transition from explorer to producer.

Key Details

  • Financial Highlights (Quarter ended Sep 30 2025):
  • Net loss: C$1.76 M (vs. C$0.19 M YoY).
  • Net loss per share: C$0.01 (basic & diluted).
  • Cash, cash equivalents & restricted cash: C$8.57 M (up from C$4.43 M).
  • Working capital: –C$1.01 M (improved to positive after note conversion).

  • Total assets: C$21.95 M; total liabilities: C$10.29 M.

  • Nine‑Month Highlights (ended Sep 30 2025):

  • Net loss: C$2.64 M (vs. C$0.68 M YoY).

  • Cash position unchanged at C$8.57 M; working capital –C$1.01 M.

  • Convertible Note Financing:

  • Amount: $8.3 million (CAD) convertible note secured in August 2025.
  • Purpose: Fully fund 20% working interest in Soda Lake Facility, well tie‑ins, and future drilling/development in the Mankota area.

  • Conversion: Note converted to common shares on Oct 24 2025, eliminating debt and improving balance sheet.

  • Soda Lake Facility:

  • Construction completed during Q3 2025.

  • Production started October 2025, transitioning HEVI from exploration to helium production.

  • Share Structure:

  • Weighted average shares outstanding (basic): 122,974,553; diluted: 111,970,982.

  • Management Commentary:

  • CEO/President James P. Baker highlighted the milestone of facility commissioning and the strengthened balance sheet post‑conversion.

Notable Quotes

“The completion of the Soda Lake processing plant and commencement of production marks a pivotal step in our evolution from an explorer to a helium producer, positioning us for sustainable growth,” – James P. Baker, Interim President & CEO.

Read the original news release →

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