Filing Flows › Comstock (LODE) › Q1 2025
Comstock (LODE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Comstock (LODE) reported revenue of $786K for the first quarter 2025 (Q1 2025), +84% from a year earlier and -51% from the quarter before. Operating margin was -895.7%.
Comstock, Q1 2025: revenue $786K (+84% year over year), operating margin -895.7%, net loss $9.1M, operating cash flow −$5.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $786K | -51% | +84% |
| Operating profit | −$7.0M | — | — |
| Net earnings | −$9.1M | — | — |
| Operating cash flow | −$5.0M | — | — |
What changed
Revenue was $786K in Q1 2025, up 84% year over year and down 51% from the previous quarter. Decommissioning Services was the largest line at 95% of revenue. Mining and Real Estate declined 91%.
Operating costs exceeded revenue by $7.0M, an operating margin of -895.7%. Total costs grew 54% against revenue growth of 84%. The fastest-growing cost line was Research & development (+270%). The quarter ended with a net loss of $9.1M, narrower than the previous quarter's $22.8M loss.
Operating cash flow was −$5.0M. Non-cash charges added back $375K of depreciation and amortization. Working capital and other items added $3.8M. Capital expenditures of $241K exceeded it, leaving free cash flow of −$5.2M.
Questions
What was Comstock's revenue in the first quarter 2025?
Comstock (LODE) reported revenue of $786K for the first quarter 2025 (Q1 2025), +84% from a year earlier and -51% from the quarter before.
Was Comstock profitable in the first quarter 2025?
Operating loss was $7.0M (-895.7% of revenue) and net loss $9.1M.
Source: Comstock 10-Q on SEC EDGAR.