Stardust Power Inc. reported a net loss of $4.5 million for the third quarter of 2025, down from a net loss of $10.1 million in the same period of 2024. As of September 30, 2025, the company had cash and cash equivalents of approximately $1.6 million and remained debt-free with no long-term corporate debt. Net cash provided by financing activities was $10.2 million for the nine months ended September 30, 2025, compared to $10.1 million in the prior year period, mainly due to $12.0 million in net proceeds from public offerings and warrant inducements, and $1.6 million from common stock issuances, partially offset by $3.8 million in short-term loan repayments. Key business developments included completion of the FEL-3 engineering report for the Muskogee, Oklahoma lithium refinery, with an estimated capital expenditure of about $500 million and a planned 24-month construction timeline. The company also secured two supply agreements for 13,500 metric tons of lithium carbonate equivalent as feedstock for the refinery.