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Companies / Materials / Stardust Power Inc.
SDST

Stardust Power Inc.

MaterialsPrimary Metals
Ticker SDSTOKLAHOMA CITY, OKFiscal year ends DecemberBook value per share $-0.79Diluted shares 10.5M

Stardust Power Inc. (Nasdaq: SDST) is developing a lithium refinery in Muskogee, Oklahoma, to produce battery-grade lithium carbonate (BGLC) for battery manufacturers, the U.S. defense industrial base and Western original equipment manufacturers. The planned facility is designed to process multiple lithium chloride… From the company’s description.

Over the twelve months to Jun 30, 2026, Stardust Power Inc. reported a net loss of $17.35M. Operations used $7.79M in cash. In fiscal 2025, it reported a net loss of $15.72M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$0.00MFY2025
Last 12 mo $0.00M
0.00%FY2025
$-15.72MFY2025
+33.8% year over year
Last 12 mo $-17.35M
270.46%FY2025
+147.9 percentage points
Last 12 mo 210.51%
Cash & financing
$-8.28MFY2025
+14.9% year over year
Last 12 mo $-7.79M
$-12.23MFY2025
−13.8% year over year
Last 12 mo $-9.66M
-0.58FY2025
Was -0.52× a year earlier
Last 12 mo -0.38
7.4MFY2025
−82.8% year over year
Last 12 mo 10.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Stardust Power Inc. does

In the company’s own words

Stardust Power Inc. (Nasdaq: SDST) is developing a lithium refinery in Muskogee, Oklahoma, to produce battery-grade lithium carbonate (BGLC) for battery manufacturers, the U.S. defense industrial base and Western original equipment manufacturers. The planned facility is designed to process multiple lithium chloride feedstocks, including material derived from brines, and is expected to have capacity of up to 50,000 metric tons per year when fully operational. The company is not currently producing or selling BGLC. It intends to source feedstock from multiple suppliers and to serve markets including electric vehicles, energy storage, grid infrastructure and data centers. Stardust Power operates as a development-stage company focused on advancing the refinery project, securing feedstock and obtaining product offtake commitments; it does not describe reportable business segments. The company acquired the Muskogee site in December 2024. In July 2024, it completed a business combination with Global Partner Acquisition Corp II, after which the combined company took the Stardust Power name.

Company details
Sector
Materials
Industry (SIC)
Primary Metals
Headquarters
OKLAHOMA CITY, OK
Fiscal year end
December
CIK
1831979
SIC
3330

Financial performance, year by year

Fiscal 2021–2025 · USD
$-27.64M$-15.99M$-4.34M$7.30M$18.95M20212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Stardust Power Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

8
funds hold it
0 of 35
superinvestors hold it
$0.49M
held by funds, at market
2.0%
of shares held by funds

Largest fund holders · Stardust Power Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets
T. Rowe Price Extended Equity Market Index Fund
PEXMX · T. ROWE PRICE INDEX TRUST, INC.
0.00%of fund net assets
Fidelity Series Total Market Index Fund
FCFMX · Fidelity Concord Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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