Filing Flows › Fortitude Gold (FTCO) › Q1 2026
Fortitude Gold (FTCO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Fortitude Gold (FTCO) reported revenue of $3.2M for the first quarter 2026 (Q1 2026), -51% from a year earlier and +37% from the quarter before. Operating margin was -28.4%, net loss $1.9M (60.0% of revenue).
Fortitude Gold, Q1 2026: revenue $3.2M (-51% year over year), operating margin -28.4%, net loss $1.9M, operating cash flow −$3.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2M | +37% | -51% |
| Operating profit | −$909K | — | -120% |
| Net earnings | −$1.9M | — | -254% |
| Operating cash flow | −$3.4M | — | — |
What changed
Revenue was $3.2M in Q1 2026, down 51% year over year and up 37% from the previous quarter.
Gross margin was 68.4%, up 17.3 points from Q1 2025. Operating costs exceeded revenue by $909K, an operating margin of -28.4%. The quarter ended with a net loss of $1.9M, wider than the previous quarter's $1.9M loss. Minority interests bore $291K of it: to shareholders the quarter was a loss of $1.6M. Net interest and other expense of $1.0M was the main reason.
Operating cash flow was −$3.4M. Non-cash charges added back $306K of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $3.0M. Capital expenditures of $512K exceeded it, leaving free cash flow of −$3.9M.
Questions
What was Fortitude Gold's revenue in the first quarter 2026?
Fortitude Gold (FTCO) reported revenue of $3.2M for the first quarter 2026 (Q1 2026), -51% from a year earlier and +37% from the quarter before.
Was Fortitude Gold profitable in the first quarter 2026?
Operating loss was $909K (-28.4% of revenue) and net loss $1.9M.
Source: Fortitude Gold 10-Q on SEC EDGAR.