United States Antimony Corporation Reports 72% Revenue Growth to $14.9 Million in Fiscal Year 2024

United States Antimony Corporation (USAC) reported significant financial improvements in its fiscal year 2024, with total revenues reaching $14.9 million, a 72% increase from $8.7 million in 2023. This growth was primarily driven by a substantial rise in antimony sales, which accounted for $11.5 million of the total revenue, up from $5.9 million the previous year. The company attributed this increase to a 34% rise in pounds sold and a 40% increase in the average sales price per pound, which surged from $5.50 in 2023 to $10.44 in 2024. Additionally, zeolite revenue also saw a 19% increase, reflecting improved production reliability and delivery performance.

In terms of profitability, USAC reported a gross profit of $3.5 million in 2024, a notable recovery from a gross loss of $3.3 million in 2023. This turnaround was facilitated by higher average sales prices and improved operational efficiencies at its antimony processing facilities. However, the company still recorded a net loss of $1.7 million for the year, although this was a significant reduction from the $6.3 million loss reported in the prior year. The reduction in losses was attributed to better inventory management and increased trade payables, which helped improve cash flow.

Strategically, USAC made several key developments during the year, including the acquisition of mining claims and leases in Alaska and Ontario, Canada, which are expected to expand its operational footprint and product offerings. The company also leased a metals concentration facility in Philipsburg, Montana, and announced plans to restart operations at its Madero facility in Mexico after initially considering its sale. These strategic moves are part of USAC's broader goal to enhance its production capabilities and market presence.

Operationally, USAC's employee headcount stood at 60 full-time employees as of December 31, 2024, with no collective bargaining agreements in place. The company reported that its antimony segment holds an estimated 4% share of the domestic market for antimony oxide products. The company also noted that it has been actively pursuing additional domestic and foreign sources for antimony ore to mitigate supply risks, as it has historically relied on a single Canadian supplier for the majority of its ore.

Looking ahead, USAC expressed optimism about its growth trajectory, citing increased demand for antimony products and plans for further geographic expansion. The company aims to leverage its recent acquisitions and operational improvements to enhance production and profitability. However, it also acknowledged the potential risks associated with market volatility, regulatory changes, and operational challenges that could impact its financial performance in the future.