United States Antimony (UAMY) - 2025 Q3 - Quarterly Results

Financial Performance - Revenues for the first nine months of 2025 increased to $26.23 million, a 182% increase from $9.31 million in the same period of 2024[2] - Gross profit for the first nine months of 2025 was $7.22 million, up 219% from $2.26 million in the prior year, with a gross margin increase to 28% from 24%[2] - Antimony sales reached $23.57 million for the first nine months of 2025, a 235% increase compared to the previous year[4] - The company incurred a net loss of $4.05 million for the nine months ended September 30, 2025, compared to a net loss of $847k for the same period in 2024[3] - Operating expenses for the first nine months of 2025 were $11.76 million, an increase of $8.19 million compared to the same period in the prior year[2] - Net loss for the nine months ended September 30, 2025, was $4,052,621, compared to a loss of $847,485 for the same period in 2024[20] Cash and Assets - The company's cash position totaled $38.5 million at September 30, 2025, up from $18.2 million at year-end 2024[6] - Cash and cash equivalents at the end of the period were $18,470,081, up from $13,067,366, reflecting an increase of 42%[20] - Total assets increased to $79,882,341 as of September 30, 2025, compared to $34,642,602 on December 31, 2024, representing a growth of 130%[19] - Current assets rose to $31,797,939, up from $20,678,569, marking an increase of 53%[19] - Total liabilities increased to $8,131,411 from $6,041,929, an increase of 35%[19] - Total stockholders' equity increased to $71,750,930 from $28,600,673, representing a growth of 151%[19] Cash Flow - Net cash used in operating activities was $(6,220,686) for the nine months ended September 30, 2025, compared to $1,042,162 provided in 2024[20] - Cash flows from investing activities showed a net cash outflow of $(35,995,481) for the nine months ended September 30, 2025[20] - Proceeds from issuance of common stock, net of issuance costs, were $38,440,596 during the nine months ended September 30, 2025[20] Contracts and Future Projections - USAC has secured two major sales contracts: a five-year contract with the U.S. Defense Logistics Agency valued at up to $245 million and a commercial supply agreement worth approximately $107 million[9] - The company is narrowing its revenue guidance for fiscal year 2025 to $40 - $43 million and projecting revenues of $125 million for 2026[8] - As of September 30, 2025, the company held an antimony inventory of 230 tons, valued at approximately $9.2 million[7] - The company plans to expand its operating base into other critical minerals, anticipating significant margin expansion from new antimony ore sourced from its recently reopened mine in Montana[9] Share-Based Compensation - Share-based compensation for the nine months ended September 30, 2025, amounted to $4,688,772, significantly higher than $453,566 in 2024[20]