<span item_type="fundamental" item_id="be3072e4b743e10f8efc7e2ae163503f" counter_id="ST/US/UAMY" env="prod"></span><span item_type="announcement" item_id="648747672129703681" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 6.8 M, missing the estimate of USD 14.83 M.</p><p></p><h3>Financial Performance (First Quarter 2026 vs. First Quarter 2025)</h3><h4>Sales</h4><ul><li>Total sales for the first quarter of 2026 were $6.8 million, nearly comparable to $7 million in the prior year’s first quarter <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>Antimony segment sales were down 2% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>Zeolite segment sales were down 7% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Gross Profit</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Net Income/Loss</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h3>Balance Sheet &amp; Cash Flow (End of First Quarter 2026)</h3><h4>Cash Position</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>Total cash, U.S. Treasury securities, and marketable equity securities at quarter-end were $118.9 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Inventory</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Debt</h4><ul><li>The company maintained a low debt amount of $162,000 at the end of the first quarter of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h3>Operational Metrics &amp; Segment Highlights</h3><h4>Antimony Segment</h4><ul><li>Plans are in place to mine antimony in the U.S. in 2026, with higher expectations for both Montana and Alaska compared to 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>The Thompson Falls processing center continues consistent production and is working with new feed sources <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>The operating partner in Bolivia began producing metallic antimony flake in March <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>Test work on Stibnite Hill ore has shown antimony grades exceeding 60% in flotation concentrates <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>The company has received $12 million in sales orders under its DLA contract for antimony ingots <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Zeolite Segment (BRZ Division)</h4><ul><li>Zeolite sales increased by about 60% in March 2026 compared to March 2025, driven by efforts in the animal feed industry <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>The cattle nutrition business segment was launched, requiring upfront costs for logistics, inventory, and staffing <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Other Critical Minerals</h4><ul><li>Exploration of mining sites in the U.S. and Canada for other critical minerals is ongoing in 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li><strong>Tungsten:</strong> 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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li><strong>Copper &amp; Gold:</strong> A drill program is scheduled for late summer at the Maclaren River K-M copper prospect in Alaska <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>. 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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h3>Strategic Developments &amp; Outlook</h3><h4>Government Grants &amp; Funding</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Expansion Projects</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Market &amp; Shareholder Relations</h4><ul><li>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% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>2026 Revenue Guidance</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul><h4>Overall Outlook</h4><ul><li>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 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>. The trajectory exiting the first quarter is one of accelerating demand, increasing utilization, and a clear path toward improved operating performance <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>. The company’s purpose is to become the premier supplier of critical minerals to the United States of America <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm"></span>.</li></ul>

US Antimony | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 6.8 M