HYMC Earnings Summary — Q1 2026

• Net loss widened drastically to $48.29 million in Q1 2026 compared to a $7.7 million loss in Q4 2025.
• Selling, General & Administrative (SG&A) expenses spiked to $34.17 million, a nearly six-fold increase from the prior quarter.
• Exploration expenses increased to $9.65 million as the company intensifies its sulfide ore technical studies.
• The company continues to report zero revenue following the suspension of active mining operations in late 2021.
• Significant shareholder dilution continues, with basic shares outstanding rising to 90 million from 25 million YoY.
• The financial results reflect a transition into a 'high-burn' exploration phase without near-term operating cash flow.

Management is focused on process optimization and metallurgical feasibility studies for sulfide ore. Future success is contingent on a viable technical path to resume commercial production.

Deteriorating

A massive spike in operating expenses and continued share dilution have accelerated the capital burn rate without a timeline for revenue resumption.

The company remains a high-risk exploration play with outlook entirely dependent on the feasibility of sulfide ore processing and the ability to raise further capital as cash is depleted by exploration activities.