NioCorp Developments Ltd. released its annual financial results for the fiscal year ending June 30, 2025. The company reported no revenues from mining operations during this period. The net loss attributable to the company increased to $17.4 million in fiscal year 2025, up from $11.4 million in fiscal year 2024. This increase in net loss was primarily due to non-cash losses related to the valuation of the Earnout Share and Warrant liabilities, despite lower interest expenses and operating expenses. Total operating expenses decreased to $11.958 million in 2025 from $13.757 million in the previous year. Exploration expenditures rose to $4.135 million from $2.552 million, while other operating expenses decreased to $3.642 million from $4.163 million. Changes in the fair value of earnout shares and warrant liabilities contributed positively, with earnout shares liability changing by $2.063 million compared to a negative $6.704 million in the previous year, and warrant liabilities changing by $4.093 million compared to a negative $1.875 million. The company did not provide specific outlook or guidance for future periods.