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Stardust Power, Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Stardust Power, Inc. holds $9.4M in total assets. Shareholders' equity is -$7.9M against $207.7K in total debt. Cash and equivalents total $1.2M. The current ratio is 0.124 and debt-to-equity is -0.026.

Total Assets$9.4MTotal Stockholders Equity-$7.9MLong Term Debt$343.0KCash And Equivalents$1.2MTotal Current Assets$1.7MTotal Current Liabilities$13.9M
Market Cap$24.0M
ROE166.24%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$10.3M$11.9M$10.6M$9.3M$8.3M$8.5M
Accounts Payable and Accrued Liabilities, Current————$4.8M$3.5M
Accrued interest————$1.6K$567.0
Other Commercial Liabilities$1.8M$1.6M$1.8M$1.8M$1.7M$1.4M
Accrued Liabilities, Current$1.8M$1.6M$1.8M$1.8M$1.7M$1.4M
Convertible Notes Payable Current————$933.0K$1.8M
Current portion of long-term debt$10.0M$6.3M—$304.7K$205.4K$103.8K
Deferred Compensation Liability (Current)————$1.1K$1.0K
Derivative Liabilities - Fair Value$2.5M$752.1K$279.5K$790.7K$1.0M$1.7M
Short-term borrowings$10.0M$6.3M—$304.7K$205.4K$103.8K
Total current liabilities$25.0M$22.6M$14.9M$14.4M$14.3M$13.9M

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$33.2M$43.6M$56.2M$59.5M$62.5M$65.7M
Common Stock Shares Outstanding$2.5M———$79.5K—
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$460.0$5.6K$8.3K$883.0$975.0$985.0
Retained earnings-$52.6M-$56.4M-$60.1M-$64.6M-$68.3M-$73.6M
Total liabilities and stockholders' equity$9.0M$11.4M$11.3M$10.0M$11.8M$9.4M
Total stockholders' equity-$19.4M-$12.8M-$3.9M-$5.1M-$5.8M-$7.9M

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash and cash equivalents$912.6K$1.6M$2.6M$1.6M$3.5M$1.2M
Other current assets$1.8K———$15.3K—
Prepaid expenses and other current assets$606.3K$318.5K$147.5K$455.7K$573.8K$479.1K
Total current assets$2.1M$2.4M$3.7M$2.4M$4.1M$1.7M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Convertible Debt (Non-Current)————$2.3M—
Debt Instrument Stated Interest Rate6.0%———90.0%—
Accrued expenses and other liabilities$4.7M———$4.8M—
Other Debt Including Capitalized Leases—$343.0K$343.0K$343.0K$343.0K—
Total liabilities$28.4M$24.3M$15.2M$15.2M$17.6M$17.3M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$1.8M———$1.8M—
Gross Assets/Liabilities$2.5M$752.1K$279.5K$790.7K$1.0M$1.7M
Accrued Interest Current$34.6K———$1.6K—
Advisory Fees$1.5M$1.5M$1.4M$1.4M$1.4M$1.4M
Battery Grade Lithum Number Of Units50000.0050000.0050000.0050000.0050000.0050000.00
Capital Market Advisory Fees Current$1.5M———$1.4M—
Cash and cash equivalents, end of period$912.6K$1.6M——$3.5M$1.2M
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1$11.50$11.50$11.50$115.00$115.00$115.00
Class of Warrant or Right, Outstanding10.4M10.4M—10.4M10.4M10.4M
Common stock, capital shares reserved for future issuance0—————
Common stock, par value (in dollars per share)$0.00$0.00$0.00$0.00$0.00$0.00
Common stock, shares authorized (in shares)700M700M700M700M700M700M
Common stock, shares issued (in shares)4.8M57.7M84.3M9M9.9M10M
Common Stock, Shares, Outstanding4.8M57.7M84.3M9M9.9M10M
Long-term debt, net————$2.3M$1.7M
Debt instrument, stated percentage————90.0%—
Deferred Compensation Liability, Classified, Noncurrent$2.8K$1.4K$1.1K$828.0$613.0$398.0
Other contract costs$116.1K$25.0K$25.0K$25.0K$25.0K—
Deferred Tax Assets Bridge Loanoid$375.2K—————
Deferred Tax Assets, Net of Valuation Allowance$7.2M———$9.1M—
Deferred Tax Assets, Operating Loss Carryforwards$2.4M———$4.9M—
U.S. federal, state and foreign net operating loss, credit carryforwards and other carryforwards————$22.5M—
Deferred Tax Assets, Operating Loss Carryforwards, State and Local$4.2M———$6.4M—
Deferred Tax Assets Startup Expenses$2.5M———$2.2M—
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses$289.5K———$379.7K—
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-Based Compensation Cost$1.6M———$1.2M—
Allowance for unfunded lending related commitments$696.0———$113.5K—
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Capital Loss Carryforward————$216.2K—
Deferred Tax Assets, Valuation Allowance$7.2M———$9.1M—
Deferred Tax Liabilities, Net$495.0———$967.0—
Deferred Tax Liabilities, Property, Plant and Equipment$495.0———$967.0—
Deposit Assets$246.2K———$10.0K—
Derivative Liability$2.5M$752.1K$279.5K$790.7K$1.0M$1.7M
Earnout Liability$532.7K$4.7K$4.7K$4.7K$4.7K$4.7K
Financial Liabilities Fair Value Disclosure————$4.7K$4.7K
Investments Fair Value Disclosure$1.5M$1.5M$594.8K$45.9K$37.4K$43.0K
Other (including finance leases)—$343.0K$343.0K$343.0K$343.0K—
Other Longterm Deposit$50.0K—————
Outstanding Principal Percentage————5.0%—
Personnel Related Liabilities$1.4M$1.3M$1.1M$1.6M$1.7M$666.1K
Personnel Related Liabilities Current$1.4M———$1.7M—
Preferred Stock, Par or Stated Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Preferred Stock, Shares Authorized100M100M100M100M100M100M
Prepaid ship and debits$262.5K———$547.2K—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number71K410.1K361.9K31.4K26.6K21.7K
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$5.60$0.54$0.55$5.50$5.55$5.62
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value$2.5M———$79.5K—
Sponsor Earn Out Shares Fair Value Disclosure$532.7K$4.7K$4.7K$4.7K$4.7K$4.7K

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred tax assets$1.6M———$1.2M—
Net Operating Loss Carryforwards$4.2M———$6.4M—
Capital Project Costs$3.3M$5.1M$5.3M$5.3M$5.4M$5.4M
Long- term Investments$1.5M$1.5M$18.2K$45.9K$37.4K$43.0K
Strategic investments$312.5K$640.9K$576.3K$561.8K$547.2K$550.1K
Property, plant and equipment at cost$1.8M———$1.8M—
Accumulated depreciation$1.8K———$5.0K—
Property and equipment, net$1.8M$1.8M$1.8M$1.8M$1.8M$1.8M
Tax Credit Carryforward Valuation Allowance$7.2M———$9.1M—
Total assets$9.0M$11.4M$11.3M$10.0M$11.8M$9.4M