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Evolution Metals & Technologies (EMAT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 17, 2026 · Evolution Metals & Technologies (EMAT) Q2 2026 earnings results →
Q2 2026 728¢ of every $1 of revenue lost · operating margin -744.9%
Evolution Metals & Technologies made $1.6M in Q2 2026: Korean Domestic Sales $1.6M, Export Sales $49K. Operating margin -744.9%, net loss $11.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 17, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.6M in Q2 2026, down 13% from the previous quarter. Korean Domestic Sales was the largest line at 97% of revenue.
Operating costs exceeded revenue by $12.2M, an operating margin of -744.9%. The quarter ended with a net loss of $11.9M, after a profit of $440.3M the previous quarter.
Operating cash flow was −$9.2M. Non-cash charges added back $289K of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $472K. Capital expenditures of $7.7M exceeded it, leaving free cash flow of −$17.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 17, 2026 | $1.6M | — | -744.9% | −$11.9M | −$9.2M |
| Q1 2026 | 10-Q | May 22, 2026 | $1.9M | — | -833.2% | $440M | −$5.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Evolution Metals & Technologies
Evolution Metals LLC (“EM”), a Delaware limited liability company, was formed in February 2024 for the purpose of building an integrated midstream and downstream critical materials platform focused on recycling, processing, and manufacturing products derived from end-of-life materials, including rare earth elements, permanent magnets, battery metals, and precious metals. In connection with its formation, EM was organized as a holding company intended to acquire and integrate operating businesses with established commercial capabilities across critical materials recycling, metal and alloy manufacturing, and advanced materials processing.
In its own words, from its 10-K, filed Feb 20, 2026.
Evolution Metals & Technologies against its Miscellaneous Electrical Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Operating margin: -744.9% against the peers' median 2.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| EMAT Evolution Metals & Technologies | Q2 2026 | $1.6M | — | -744.9% |
| ENS EnerSys | Q1 FY27 | $936M | +5% | 16.2% |
| ATKR Atkore | Q3 FY26 | $795M | +8% | 8.1% |
| SPB Spectrum Brands Holdings | Q3 FY26 | $753M | +8% | 2.1% |
| ENR Energizer Holdings | Q3 FY26 | $734M | +1% | 6.8% |
| FLNC Fluence Energy | Q3 FY26 | $650M | +8% | -6.7% |
| NOVT Novanta | Q2 2026 | $266M | +10% | 6.8% |
| CHPT ChargePoint Holdings | Q2 FY27 | $116M | +18% | -29.3% |
| MVST Microvast Holdings | Q2 2026 | $87.3M | -4% | -2.0% |
Source: Evolution Metals & Technologies 10-Q on SEC EDGAR · CIK 1866226 · Miscellaneous Electrical Machinery, Equipment & Supplies
13F: who owns EMAT and who is buying
More on EMAT
History
Every quarter: Q2 2026 results · Q1 2026 results
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