Q1 Loss Widens to $11.3M Amid High Cash Burn; Secures $48.6M Post-Quarter ATM Offering & $27M Government Grant
UAMY has more than doubled off its 52-week low of $1.94.
Summary
UNITED STATES ANTIMONY CORP reported a significant net loss of $11.3 million in Q1 2026, a sharp decline from prior year's profit, driven by increased operating expenses and cash burn. The company subsequently raised $48.6 million through an ATM offering and recognized $12.8 million from a government grant to address liquidity.
Key Events · Earnings and Guidance · UAMY
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Significant Q1 Net Loss
Reported a net loss of $11.3 million for Q1 2026, a substantial decline from a $0.55 million net income in Q1 2025.
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Increased Cash Burn and Liquidity Drop
Net cash used in operating activities increased to $12.1 million in Q1 2026 from $1.7 million in Q1 2025, leading to a sharp drop in cash and cash equivalents from $30.5 million to $3.2 million.
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Post-Quarter Capital Raise
Subsequent to the quarter, the company sold 4.2 million shares in April and May 2026 through an at-the-market (ATM) offering, generating gross proceeds of $48.6 million at an average price of $11.57 per share.
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Government Grant Funding Recognized
Recognized $12.8 million from a $27.0 million U.S. Department of War grant for antimony processing expansion, with these funds received in April 2026.
Analysis · UAMY · Manufacturing
UNITED STATES ANTIMONY CORP reported a significant net loss of $11.3 million for Q1 2026, a sharp deterioration from the prior year's net income, driven by a substantial increase in operating expenses and a decline in gross profit. The company experienced a high cash burn, with cash reserves dropping from $30.5 million to $3.2 million during the quarter. To address this, the company subsequently raised $48.6 million through an at-the-market (ATM) offering and recognized $12.8 million from a U.S. Department of War grant, with funds received in April 2026. The filing also reiterates a material weakness in disclosure controls and procedures due to insufficient accounting staff, and notes the temporary leave of the CFO. While the subsequent financing provides a critical lifeline, the underlying operational performance and cash burn for the quarter are significant concerns.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, UAMY was trading at $9.25 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $1.94 to $19.71. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.