Critical Metals Corp. (CRML) reported a net loss of $228.2 million for the fiscal year ended June 30, 2026. That compared with a $51.9 million loss in the prior year.
The company attributed the wider loss to high non-cash expenses and surging exploration and evaluation costs at its Tanbreez and Wolfsberg projects. Neither project is yet in commercial production.
Critical Metals said there is substantial doubt about its ability to continue as a going concern without raising additional capital. The company secured more than $144 million in new capital during the period.
It expects cash outflows for operations and investment to continue until its projects reach commercial viability. The company said future financing will be critical to meeting its near-term obligations.