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Sep 30
United States Antimony Corporation Q3 2025 Earnings Report
United States Antimony Corporation reported a substantial year-over-year revenue increase in Q3 2025 but continued to post a net loss due to high operating expenses driven by share-based compensation.
Key Takeaways
US Antimony's Q3 2025 results showed a strong revenue increase, driven by higher antimony prices, though elevated costs, especially non-cash expenses, led to a net loss.
Revenue for Q3 2025 rose to $8.7 million, a significant increase from $2.6 million in Q3 2024.
The company posted a net loss of $4.78 million for the quarter, largely due to $4.69 million in non-cash share-based compensation.
Operating income remained negative at -$4.92 million despite improved gross profit.
Cash and cash equivalents stood at $18.3 million as of September 30, 2025.
United States Antimony Corporation
United States Antimony Corporation
United States Antimony Corporation Revenue by Segment
Revenue by Segment
Antimony Revenue
CapyFin.comZeolite Revenue
CapyFin.com Forward Guidance
The company narrowed its FY25 revenue guidance and reaffirmed FY26 expectations, citing strong long-term contract wins and expected margin expansion from domestic ore.
Positive Outlook
- FY2025 revenue guidance narrowed to $40–$43 million.
- FY2026 revenue guidance reaffirmed at $125 million.
- Awarded a 5-year $245 million IDIQ contract with the U.S. Defense Logistics Agency.
- Signed a $107 million commercial supply agreement with a U.S. industrial manufacturer.
- Commenced mining operations in Montana with initial ore deliveries completed.
Challenges Ahead
- Continued reliance on international antimony sources during Q3 limited margin improvement.
- Net loss remained significant due to high non-cash expenses.
- Capital expenditures surged to $16.07 million, impacting cash flow.
- Operating income stayed negative despite revenue growth.
- High share-based compensation expenses affected profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income