<span item_type="fundamental" item_id="be7ab50c237faaf13d67fae98def8949" counter_id="ST/US/UAMY" env="prod"></span><span item_type="announcement" item_id="648378683499417345" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 6.784 M, missing the estimate of USD 14.83 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.08.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -7.845 M.</p><p></p><h3>Overall Performance</h3><p>United States Antimony Corporation reported revenues of $6.8 million for the first quarter of 2026, a decrease from $7.0 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> The company recorded a net loss of -$11.3 million, or -$0.08 per diluted share, in Q1 2026, compared to a net income of $0.6 million, or nil per diluted share, in the prior year period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> The Q1 2026 net loss included approximately $9.3 million of net non-cash items, primarily $4.8 million in share-based compensation expense and -$4.1 million unrealized loss on investment in marketable equity securities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Gross Profit and Margin</h3><p>Gross profit for Q1 2026 was $1.1 million, down from $2.4 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> The gross margin decreased to approximately 16% in Q1 2026 from 34% in Q1 2025, mainly due to a 69% increase in antimony cost per pound sold, rising to $16.28 from $9.66.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Operating Profit and Expenses</h3><p>The company reported an operating loss of -$7.5 million in Q1 2026, a significant change from an operating income of $0.4 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> Operating expenses increased by $6.6 million to $8.6 million in Q1 2026 from $2.0 million in the prior year period, driven by the build-out of the leadership team and operational infrastructure.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> This included approximately $4.8 million of non-cash share-based compensation expense in Q1 2026, compared to $0.25 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Segment Revenue</h3><h4>Antimony Segment Revenue</h4><p>Antimony segment revenues were $5.6 million in Q1 2026, a decrease from $5.9 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> Antimony pounds sold decreased by approximately 23% to 278,797 pounds from 362,647 pounds, while the average sales price per pound rose approximately 22% to $19.92 from $16.34.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h4>Zeolite Segment Revenue</h4><p>Zeolite revenue was $1.0 million in Q1 2026, compared to $1.1 million in Q1 2025, attributed to a 3% decrease in sales volume and a 4% decrease in average sales price per ton.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Cash Flow and Liquidity</h3><p>Net cash used in operating activities was -$12.06 million in Q1 2026, compared to -$1.73 million in Q1 2025, primarily reflecting a working-capital investment in antimony feedstock inventory.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> Cash and cash equivalents, including held-to-maturity U.S. Treasury securities, totaled $23.7 million at quarter-end.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> This is down from $30.5 million cash and cash equivalents and $20.4 million Treasury securities at December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> Subsequent to quarter-end, United States Antimony Corporation raised approximately $48.6 million in gross proceeds through equity issuances.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> Total liquidity, pro forma for these issuances, was $108.7 million, including cash, U.S. Treasury securities, and marketable securities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Unique Financial and Operational Metrics</h3><h4>DoW Grant Milestones</h4><p>United States Antimony Corporation achieved $12.8 million in Department of War (DoW) grant milestones for the Thompson Falls expansion, recognized as a grant receivable with a corresponding reduction to construction in progress.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> The total DoW grant award is $27.0 million, with $16.2 million obligated to date.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h4>Antimony Inventory</h4><p>The value of antimony inventory was approximately $21.7 million on March 31, 2026, an 80.8% increase from $12.0 million as of December 31, 2025, and a 502.8% increase from $3.6 million as of March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h4>Capital Expenditures</h4><p>Capital expenditures totaled $12.6 million in Q1 2026, including $4.8 million for the acquisition of the Radersburg flotation mill, approximately $4.6 million for the Thompson Falls smelter expansion, and $3.2 million for new mineral rights acquisitions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h4>DLA Contract</h4><p>The company received approximately $12 million in sales orders under its existing contract with the U.S. Defense Logistics Agency (DLA), with no revenue recognized in Q1 2026, and completed the first two delivery notices of finished product.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p><h3>Outlook / Guidance</h3><p>United States Antimony Corporation reiterates its full-year 2026 gross revenue guidance of approximately $125 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> This guidance is dependent on the timing of antimony shipments under the DoW contract, the timely commissioning of the Thompson Falls expansion, and the ramp-up of in-house antimony ore processing.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span> The majority of full-year 2026 revenue is expected to be weighted towards the second half of the year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926061217/tm2614673d1_ex99-1.htm"></span></p>

US Antimony | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 6.784 M