Filing Flows › Fortitude Gold (FTCO) › Q3 2025
Fortitude Gold (FTCO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Fortitude Gold (FTCO) reported revenue of $4.7M for the third quarter 2025 (Q3 2025), -55% from a year earlier and -5% from the quarter before. Operating margin was 50.8%, net earnings $233K (5.0% of revenue).
Fortitude Gold, Q3 2025: revenue $4.7M (-54% year over year), operating margin 50.8%, net earnings $233K, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.7M | -5% | -55% |
| Gross profit | $2.5M | -7% | -48% |
| Operating profit | $2.4M | -26% | -62% |
| Net earnings | $233K | -73% | -75% |
| Operating cash flow | −$3.8M | — | — |
What changed
Revenue was $4.7M in Q3 2025, down 55% year over year and down 5% from the previous quarter.
Gross margin was 53.0%, up 6.3 points from a year earlier. Operating profit was $2.4M, a 50.8% margin (down 10.6 points year over year). Net earnings were $233K, down 75% year over year. The effective tax rate was -33.1%.
Operating cash flow was −$3.8M. Non-cash charges added back $500K of depreciation and amortization and $521K of share-based compensation. Working capital and other items used $5.1M. Capital expenditures of $313K exceeded it, leaving free cash flow of −$4.2M.
Questions
What was Fortitude Gold's revenue in the third quarter 2025?
Fortitude Gold (FTCO) reported revenue of $4.7M for the third quarter 2025 (Q3 2025), -55% from a year earlier and -5% from the quarter before.
Was Fortitude Gold profitable in the third quarter 2025?
Operating profit was $2.4M (50.8% of revenue) and net earnings $233K.
Source: Fortitude Gold 10-Q on SEC EDGAR.