Filing Flows › McEwen (MUX) › Q1 2025
McEwen (MUX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
McEwen (MUX) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -13% from a year earlier and +6% from the quarter before. Operating margin was -21.4%, net loss $6.3M (17.6% of revenue).
McEwen, Q1 2025: revenue $35.7M (-13% year over year), operating margin -21.4%, net loss $6.3M, operating cash flow −$1.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.7M | +6% | -13% |
| Operating profit | −$7.6M | — | — |
| Net earnings | −$6.3M | — | — |
| Operating cash flow | −$1.9M | — | — |
What changed
Revenue was $35.7M in Q1 2025, down 13% year over year and up 6% from the previous quarter. USA was the largest line at 63% of revenue. USA lost $2.9M year over year (down 11%), 52% of the total change.
Gross margin was 28.2%, up 13.6 points from a year earlier. Operating costs exceeded revenue by $7.6M, an operating margin of -21.4%. Operating expenses fell 37% while revenue fell 13%. The quarter ended with a net loss of $6.3M, narrower than the previous quarter's $8.2M loss.
Operating cash flow was −$1.9M. Non-cash charges added back $6.2M of depreciation and amortization. Working capital and other items used $1.8M. Capital expenditures of $14.5M exceeded it, leaving free cash flow of −$16.5M.
Questions
What was McEwen's revenue in the first quarter 2025?
McEwen (MUX) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -13% from a year earlier and +6% from the quarter before.
Was McEwen profitable in the first quarter 2025?
Operating loss was $7.6M (-21.4% of revenue) and net loss $6.3M.
Source: McEwen 10-Q on SEC EDGAR.