United States Antimony (UAMY) - 2025 Q1 - Quarterly Results

Q1 2025 Financial and Operational Results Financial Performance Summary United States Antimony Corporation achieved record Q1 2025 financial results, marked by substantial revenue and gross profit growth, a shift to net income, and a strengthened cash position Financial Performance Overview | Financial Metric | Q1 2025 (USD) | Q1 2024 (USD) | Change (USD) | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenues | $7.0 million | $3.1 million | +$3.9 million | +128% | | Gross Profit | $2.4 million | $0.6 million | +$1.8 million | +302% | | Net Income | $0.55 million | ($0.32 million) | +$0.87 million | +269% | - The cash position improved to $18.7 million as of March 31, 2025, an increase of $0.57 million from the end of 2024 and $6.8 million from March 31, 2024[5] - The CEO anticipates continued improvement in financial and operational results for the remainder of 2025, driven by increased shipments, higher pricing for both antimony and zeolite, and enhanced operating efficiencies[6] Segment Performance & Operational Updates Strong financial results were driven by growth in both antimony and zeolite divisions, complemented by strategic operational expansions including smelter restarts and capacity increases - Antimony sales reached $5.9 million, a 140% increase year-over-year, primarily due to higher average sales prices, despite lower sales volume due to resolved contract and logistics delays[4] - The zeolite division (BRZ) experienced improved operating results with increased volumes, higher pricing, and reduced maintenance costs[6] - Key strategic initiatives for 2025 include: - Restarting the Madero Antimony Smelter in Mexico in late April 2025 - Expanding the Montana antimony smelter to increase throughput capacity by more than six times, fueled by feedstock from Alaska - Finalizing the permitting phase in Alaska to begin gathering antimony concentrate[6] Condensed Consolidated Financial Statements (Unaudited) Statement of Operations The company transitioned from an operating loss to an operating income in Q1 2025, achieving net income compared to a net loss in the prior-year period Condensed Consolidated Statements of Operations | Metric | Q1 2025 (USD) | Q1 2024 (USD) | | :--- | :--- | :--- | | Revenues | $7,000,005 | $3,072,067 | | Gross Profit | $2,371,730 | $589,485 | | Income (Loss) from Operations | $357,992 | ($470,454) | | Net Income (Loss) | $546,524 | ($322,768) | Balance Sheet Total assets and stockholders' equity significantly increased as of March 31, 2025, primarily driven by growth in cash, accounts receivable, and inventories Condensed Consolidated Balance Sheets | Metric | March 31, 2025 (USD) | Dec 31, 2024 (USD) | | :--- | :--- | :--- | | Total Current Assets | $24,838,415 | $20,678,569 | | Total Assets | $39,496,778 | $34,642,602 | | Total Liabilities | $6,905,442 | $6,041,929 | | Total Stockholders' Equity | $32,591,336 | $28,600,673 | - Inventories increased significantly to $4.0 million from $1.2 million at the end of 2024, reflecting the antimony ore supply on hand at quarter-end[4][9] Statement of Cash Flows Q1 2025 saw cash used in operations due to inventory increases, offset by strong cash generation from financing activities, resulting in a net cash increase Condensed Consolidated Statements of Cash Flows | Metric | Q1 2025 (USD) | Q1 2024 (USD) | | :--- | :--- | :--- | | Net Cash (Used in) Provided by Operating Activities | ($1,729,291) | $65,027 | | Net Cash Used in Investing Activities | ($862,011) | ($2,031) | | Net Cash Provided by (Used in) Financing Activities | $3,166,123 | ($21,273) | | Net Increase in Cash | $574,821 | $41,723 | - Financing activities provided $3.2 million in cash, consisting of $2.4 million from the issuance of common stock and $0.8 million from the exercise of warrants[12] Company Overview United States Antimony Corporation (USAC) is a diversified mining and processing company operating in the U.S., Mexico, and Canada, focusing on antimony, zeolite, and precious metals - USAC's main business lines include: - Antimony: Processed into oxide, metal, and trisulfide for use in flame retardants, plastics, paints, batteries, and ordnance - Zeolite: Mined and processed for applications such as water filtration, environmental cleanup, animal nutrition, and soil amendment - Precious Metals: Recovery of primarily gold and silver from third-party ore[13]