Standard Lithium
Develops battery-quality lithium carbonate projects from Smackover brines in Arkansas and Texas.
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Profile
Develops battery-quality lithium carbonate projects by extracting lithium from Smackover brines in Arkansas and Texas. The pre-revenue business operates its flagship project with Equinor and depends on final investment decisions, project financing, technology licensing and construction.
Develops battery-quality lithium carbonate projects from subsurface brines in the Smackover Formation, centered on South West Arkansas and a growing northeast-Texas position. Its model pairs direct lithium extraction with purification and conversion, returning depleted brine underground rather than relying on hard-rock mining or evaporation ponds.
Operates a demonstration plant near El Dorado, Arkansas, where it tests extraction and purification, improves water use and sorbent life, trains operators, and qualifies material with customers. The South West Arkansas project is developed through a jointly controlled partnership with Equinor, while a technology licence underpins the commercial process design.
Remains pre-revenue with no producing property. South West Arkansas has completed key engineering and federal environmental review steps, but still depends on customer offtake, project financing, partner alignment, regulatory approvals, contracted construction and successful scale-up.
Company facts
Key statistics
Year to date −46.8% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Apr 29, 2026 | Evercore ISI | Target | $4.75 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026 | −$0.01 | −$0.01 | +32.6% | — | — | — | +0.89% |
| May 11, 2026Q3 FY26 | −$0.02 | −$0.01 | +50.0% | — | — | — | +5.34% |
| Mar 30, 2026Q4 FY26 | −$0.01 | −$0.04 | −300.0% | $25.8M | — | — | +5.57% |
| Nov 10, 2025Q1 FY26 | −$0.03 | −$0.03 | 0.0% | $25.8M | — | — | −10.39% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q4 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | −$1.4M | $0 | $0 | |
| Operating income | $5.1M | $6.6M | $6.2M | $8.6M | $9.6M | $3.0M | |
| Net income | −$1.6M | −$5.0M | −$6.1M | −$3.8M | −$35.7M | −$2.7M | |
| Diluted EPS | −$0.01 | −$0.03 | −$0.03 | −$0.04 | −$0.15 | −$0.01 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY24 $0 · FY25 $0 · FY26 $0
Balance sheet, Mar 31, 2026Cash & short-term investments $142.6M · Total debt $212.7K · Total assets $392.3M · Shareholders' equity $363.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 243.86M · Float 222.98M · 91.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Van Eck Associates Corp | 15.94M | 6.53% | 13F | Aug 14, 2026 |
| Koch, Inc. | 13.48M | 5.53% | 13F | Aug 13, 2026 |
| FMR LLC | 4.78M | 1.96% | 13F | Aug 13, 2026 |
| Merewether Investment Management, LP | 4.06M | 1.66% | 13F | Aug 14, 2026 |
| Morgan Stanley | 2.16M | 0.88% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- ExxonMobil
Smackover brine and battery-grade lithium-carbonate challenger.
- Chevron
Smackover acreage and planned DLE lithium challenger.
- Albemarle
Arkansas brines and established lithium-chemicals challenger.
- TETRA Technologies
Adjacent Arkansas brine-rights and lithium-project challenger.
- SLB
End-to-end DLE process and lithium-product technology peer.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Standard Lithium | $2.57 | +0.98% | $621.8M | — | — | — | — |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| Chevron | $204.35 | +1.24% | $402.06B | 19.4 | 13.2 | 1.9 | +57.9% |
| Albemarle | $137.96 | +0.45% | $16.20B | — | 13.9 | 2.7 | +31.1% |
| TETRA Technologies | $6.77 | −0.64% | $995.6M | 132.5 | 22.2 | 1.6 | +6.8% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| Median | 24.1 | 13.9 | 1.9 | +31.1% |








