Filings/UAMY/10-Q

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EDGAR
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KPIsSections21
Revenue$14.7M-16.1% YoY
Gross margin11.5%
Net income-$11.2M-1644.6% YoY
Net margin-76.1%
Operating margin-98.6%
Red flags5 red2 orange
Liquidity4
RED
Negative operating cash flowoperating_cf_burn
The company is burning cash from operations — sustainability depends on financing.
RED
Net margin -76.1%net_margin_sharply_negative
Net income margin below -5% — profitability materially negative vs revenue.
RED
Cash conversion (CFO/Rev) -140.9%cash_conversion_weak
CFO/Revenue below 0 — operating model not generating cash despite revenue.
ORANGE
Cash runway ~2.0 yearscash_runway_medium
Cash runway is 2–3 years — worth monitoring vs growth plans.
Governance1
RED
Material weakness in internal controlsmaterial_weakness
Material weakness or significant deficiency disclosed in the filing.
…our disclosure controls and procedures were not effective as of June 30, 2026 is a result of the previously identified material weakness in internal control over financial reporting described in Part II, Item 9A of the Company’s Annual Report on Form 10-K…
…our disclosure controls and procedures were not effective as of June 30, 2026 is a result of the previously identified material weakness in internal control over financial reporting described in Part II, Item 9A of the Company’s Annual Report on Form 10-K…
Dilution · capital2
RED
SBC/Revenue 52.6%sbc_revenue_high
Stock-based compensation exceeds 25% of revenue — materially dilutive.
ORANGE
At-the-market equity programatm_program
ATM or equity distribution agreement noted — potential ongoing dilution.
…ant financing activities in 2026 have included $49.1 million of net proceeds received from the sale of common stock in “at the market offerings” and $2.0 million of proceeds received from the exercise of pre-existing common stock warrants, offset in par…
…ONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) June 30, 2026 In November 2025, the Company executed a five-year sales agreement with a new industrial customer for the sale of antimony trioxide. Once the monthly delivery schedule through December 2…
…le of Common Stock During the six months ended June 30, 2026, the Company sold 4,326,433 shares of its common stock in “at the market offerings” and received gross proceeds of $ 50,033,307 based on a weighted average price of $ 11.56 per share. The aggr…
Income Statement
Revenue$14.7M
Revenue (quarter)$7.9M
Gross Margin11.5%
Operating Margin-98.6%
Net Margin-76.1%
Net Income-$11.2M
EPS (diluted)$-0.08
Balance Sheet
Cash$42.3M
Broad Liquidity$42.3M
Current Ratio11.54
Total Assets$190.6M
Total Equity$181.0M
Debt/Equity0.00
Cash Flow
Operating CF-$20.7M
Cash Conversion (CFO/Rev)-1.41
SBC % Revenue52.6%
Free Cash Flow-$43.5M

Sections in this filing

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ASSETS ​ ​ ​ ​ CURRENT ASSETS ​ ​ ​ ​ Cash and cash equivalents ​ $ 41,434,379 ​ $ 30,494,320 Investment in debt securities held to maturity ​ 4,665,947 ​ 4,577,706 Accounts receivable, net ​ 2,607,687 ​ 4,213,305 Inventories ​ 21,605,870 ​ 12,522,009 Prepaid expenses and other current assets ​ 2,312,590 ​ 434,842 Note receivable ​ ​ 4,000,000 ​ ​ 2,500,000 Total current assets ​ 76,626,473 ​ 54,742,182 Property, plant and equipment, net ​ 53,449,214 ​ 42,374,839 Operating lease right-of-use assets ​ 29,306 ​ 48,106 Investment in debt securities held to maturity - noncurrent ​ 16,065,384 ​ 15,773,251 Investment in equity securities ​ ​ 43,219,151 ​ ​ 40,494,328 Investment in joint venture ​ ​ 76,360 ​ ​ — Restricted cash ​ 820,619 ​ 162,756 Other assets, net ​ 330,207 ​ 330,207 Total assets ​ $ 190,616,714 ​ $ 153,925,669 LIABILITIES AND STOCKHOLDERS’ EQUITY ​ ​ ​ ​ CURRENT LIABILITIES ​ ​ ​ ​ Accounts payable ​ $ 3,938,384 ​ $ 6,924,518 Accrued liabilities ​ 2,377,849 ​ 2,937,842 Accrued liabilities - directors ​ 128,875 ​ 143,931 Current portion of operating lease liabilities ​ 19,937 ​ 34,103 Current portion of long-term debt ​ 175,913 ​ 136,942 Total current liabilities ​ 6,640,958 ​ 10,177,336 Operating lease liabilities, net of current portion ​ 9,369 ​ 14,003 Long-term debt, net of current portion ​ 158,862 ​ 58,483 Asset retirement obligations ​ 2,785,687 ​ 2,720,658 Total liabilities ​ 9,594,876 ​ 12,970,480 COMMITMENTS AND CONTINGENCIES (Note 16) ​ ​ ​ ​ STOCKHOLDERS’ EQUITY ​ ​ ​ ​ Preferred stock $ 0.01 par value, 50,000,000 shares authorized: ​ ​ ​ ​ Series A - no shares issued and outstanding ​ — ​ — Series B - 750,000 shares issued and outstanding (liquidation preference $ 986,250 and $ 982,500 , respectively) ​ 7,500 ​ 7,500 Series C - 177,904 shares issued and outstanding (liquidation preference $ 97,847 both periods) ​ 1,779 ​ 1,779 Series D - no shares issued and outstanding ​ — ​ — Common stock, $ 0.01 par value, 250,000,000 shares authorized; 150,521,555 and 140,042,270 shares issued, respectively ​ 1,505,216 ​ 1,400,423 Treasury stock ( 1,050,186 and 149,639 shares of common stock at cost, respectively) ​ ( 9,418,009 ) ​ ( 574,153 ) Additional