--- title: "US Antimony | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 6.8 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286614558.md" datetime: "2026-05-15T20:53:21.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286614558.md) - [en](https://longbridge.com/en/news/286614558.md) - [zh-HK](https://longbridge.com/zh-HK/news/286614558.md) --- # US Antimony | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 6.8 M Revenue: As of FY2026 Q1, the actual value is USD 6.8 M, missing the estimate of USD 14.83 M. ### Financial Performance (First Quarter 2026 vs. First Quarter 2025) #### Sales - Total sales for the first quarter of 2026 were $6.8 million, nearly comparable to $7 million in the prior year’s first quarter . - Antimony segment sales were down 2% . - Zeolite segment sales were down 7% . #### Gross Profit - Gross profit for the first quarter of 2026 decreased by $1.3 million compared to last year’s first quarter, primarily due to higher labor, factory, and freight costs . #### Net Income/Loss - Net loss for the first quarter of 2026 was - $11.3 million, mainly attributed to a non-cash stock compensation expense of $4.8 million, an unrealized loss of $4.1 million on investment in Larvotto equity securities, and higher cost of goods sold . ### Balance Sheet & Cash Flow (End of First Quarter 2026) #### Cash Position - The company’s cash position, including U.S. Treasury securities and equity securities, totaled $60.2 million at the end of the first quarter of 2026 . - Subsequent to March 31, 2026, the company received an additional $12.8 million in cash from an expansion grant from the U.S. government and $48.6 million in gross proceeds from the sale of stock . - Total cash, U.S. Treasury securities, and marketable equity securities at quarter-end were $118.9 million . #### Inventory - Inventory increased by $9.5 million to $22 million at the end of the first quarter of 2026, compared to $12.5 million at the end of 2025 . #### Debt - The company maintained a low debt amount of $162,000 at the end of the first quarter of 2026 . ### Operational Metrics & Segment Highlights #### Antimony Segment - Plans are in place to mine antimony in the U.S. in 2026, with higher expectations for both Montana and Alaska compared to 2025 . - Contracts have been signed for monthly deliveries of antimony to smelters in Montana and Mexico, with the Madero smelter in Mexico receiving an average of 225 tons of high-quality feedstock monthly . - The Thompson Falls processing center continues consistent production and is working with new feed sources . - The operating partner in Bolivia began producing metallic antimony flake in March . - The Radersburg mill, acquired in early 2026 for $4.3 million, has its standard crushing, grinding, gravity, and flotation systems ready for operations, and a new laboratory is being installed . - Test work on Stibnite Hill ore has shown antimony grades exceeding 60% in flotation concentrates . - The company has received $12 million in sales orders under its DLA contract for antimony ingots . #### Zeolite Segment (BRZ Division) - Zeolite sales increased by about 60% in March 2026 compared to March 2025, driven by efforts in the animal feed industry . - The cattle nutrition business segment was launched, requiring upfront costs for logistics, inventory, and staffing . - In March, the company achieved a record number of tons of zeolite shipped, exceeding its monthly target by approximately 42%, with this momentum continuing into April with shipments roughly 66% above target . #### Other Critical Minerals - Exploration of mining sites in the U.S. and Canada for other critical minerals is ongoing in 2026 . - **Tungsten:** The Fostung deposits in Ontario, Canada, have an inferred resource of 14.62 million metric tons grading 0.17% WO3, containing 53.595 million pounds of WO3, with an estimated gross value of $9.3 billion based on a tungsten price of $3,300 per metric ton unit . - **Copper & Gold:** A drill program is scheduled for late summer at the Maclaren River K-M copper prospect in Alaska . The Nolan Creek antimony-gold deposit in Alaska has a reported resource of 42,412 tons grading 28% antimony and 0.408 ounces of gold per ton, with a gross value exceeding $460 million . ### Strategic Developments & Outlook #### Government Grants & Funding - The U.S. government granted United States Antimony Corporation $27 million to assist its initiatives, with $12.8 million of this grant received in April 2026 . - The company has made federal grant applications totaling $274 million for various projects, including $44 million for hydromet from the Department of Energy, $5 million for a tungsten exploration grant, $105 million for tungsten utilizing hydromet, and $119 million for a hydromet concentrator for critical minerals . #### Expansion Projects - The Thompson Falls expansion is nearing operational status, with all nine furnaces expected to be functional by mid-July, and the new plant has a capacity of about 230 tons per month . - A 120,000 square foot hydromet facility in Idaho, a joint venture with Americas Gold and Silver, is designed to produce 1,000 tons per month of 99.9% pure antimony, targeting completion in 2028, with future phases planned for silver, copper, and gold . #### Market & Shareholder Relations - The company’s stock price increased by approximately 40% in Q1 2026, and its market capitalization grew by 43.4% to $1.19 billion, with institutional ownership approaching 50% . #### 2026 Revenue Guidance - United States Antimony Corporation remains confident in its $125 million revenue guidance for 2026, anticipating $75 million to $95 million of this revenue will come from federal government shipments of antimony ingots by year-end . #### Overall Outlook - Management expects these cost increases to improve with economies of scale as sales increase, anticipating to see the results of its initiatives in the back half of 2026 . The trajectory exiting the first quarter is one of accelerating demand, increasing utilization, and a clear path toward improved operating performance . 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