Fortitude Gold Corp

What Do They Do?

Mines and sells gold and silver doré to a refiner while exploring and developing other precious-metal properties in Nevada.

Sells gold and silver doré to a refiner; a sale is counted when the customer takes possession and the price and quantity are agreed.

FY2025 revenue

Sells doré from its Isabella Pearl mine to a refiner; one customer accounted for 94% of net sales.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 99% from one customer

Yes. It kept 2 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$15M.

Net income, FY2025

2% of revenue

▲ Now profitable vs FY2024 (−$2M, −5%)

Free cash flow, FY2025

−81% of revenue

▲ +48% (Loss) vs FY2024 (−$10.1M, −27%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Shrinking. Revenue fell 78% in 4 years, from $82.1M in FY2021 to $18.4M in FY2025, about 31% a year.

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