# HYMC 2026 Q1 10 Q

Source Brief: https://evesgoldminers.com/research/source-briefs/hycroft-mining-2026-08-06-hymc-2026-q1-10-q-d4dc09cd
Original source: https://hycroftmining.com/_resources/financials/2026/HYMC-2026-Q1-10-Q.pdf?v=080601
Original published: 2026-08-06
EGM generated: 2026-09-04
Company: Hycroft Mining (HYMC)

## Use Note

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## Extracted Document Text

# Financials

Source: https://hycroftmining.com/_resources/financials/2026/HYMC-2026-Q1-10-Q.pdf?v=080601
Published: 2026-08-06T13:28:43+00:00
Fetched: 2026-08-06T13:44:04.907+00:00
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Normalizer input: text

## Content

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended March 31, 2026
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
Commission File No. 001-38387
HYCROFT MINING HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 82-2657796
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
P.O. Box 3030
Winnemucca, Nevada 89446
(Address of principal executive offices)
(Zip code)
(775) 304-0260
(Registrant’s telephone number,
including area code)
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange on which
Title of each class Trading Symbol(s) registered
Class A common stock, par value
HYMC The Nasdaq Stock Market LLC
$0.0001 per share
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the
Act. Yes ☐ No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒
No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be
submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for
such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,
a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”
“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange
Act.
☐ Large accelerated filer ☐ Accelerated filer
☒ Non-accelerated filer ☒ Smaller reporting company
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of
the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):
Yes ☐ No ☒
As of April 27, 2026, there were 91,360,601 shares of the Company’s common stock issued and outstanding.
HYCROFT MINING HOLDING CORPORATION
Quarterly Report on Form 10-Q
TABLE OF CONTENTS
Page
PART ITEM
I 1 Financial Statements 4
2 Management’s Discussion and Analysis of Financial Condition and Results of Operations 20
3 Quantitative and Qualitative Disclosures about Market Risk 27
4 Controls and Procedures 27
II 1 Legal Proceedings 28
2 Unregistered Sales of Equity Securities and Use of Proceeds 28
3 Defaults Upon Senior Securities 28
4 Mine Safety Disclosures 28
5 Other Information 28
6 Exhibits 29
Signatures 30
3
ITEM I. FINANCIAL STATEMENTS
INDEX TO FINANCIAL STATEMENTS
Page
Unaudited Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Balance Sheets 5
Unaudited Condensed Consolidated Statements of Operations 6
Unaudited Condensed Consolidated Statements of Cash Flows 7
Unaudited Condensed Consolidated Statements of Stockholders’ Equity (Deficit) 8
Notes to Unaudited Condensed Consolidated Financial Statements 9
4
Table of Contents
HYCROFT MINING HOLDING CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and par value amounts)
March 31, December 31,
2026 2025
(unaudited)
Assets:
Cash and cash equivalents $ 189,014 $ 181,738
Prepaids and deposits 2,440 2,953
Supplies inventories, net 1,463 1,416
Equity investment securities 660 776
Receivables 632 609
Current assets 194,209 187,492
Property, plant, and equipment and assets held-for-sale, net 53,006 53,005
Restricted cash 22,656 22,493
Prepaids 29 37
Total assets $ 269,900 $ 263,027
Liabilities:
Accounts payable, accrued expenses, and other liabilities 4,183 7,712
Asset retirement obligation 22 22
Current liabilities 4,205 7,734
Deferred gain on sale of royalty 29,839 29,839
Asset retirement obligation, non-current 12,057 11,751
Other liabilities — 8
Total liabilities 46,101 49,332
Commitments and contingencies - Note 17
Stockholders’ equity
Common stock, $0.0001 par value; 1,400,000,000 shares authorized; 91,360,601
issued and outstanding at March 31, 2026, and 83,025,384 issued and outstanding at
December 31, 2025, respectively 9 8
Additional paid-in capital 1,098,807 1,040,417
Accumulated deficit (875,017) (826,730)
Total stockholders’ equity 223,799 213,695
Total liabilities and stockholders’ equity $ 269,900 $ 263,027
The accompanying notes are an integral part of these Unaudited Condensed Consolidated Financial Statements.
5
Table of Contents
HYCROFT MINING HOLDING CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
Three Months Ended
March 31,
2026 2025
Operating expenses:
General and administrative costs $ 34,165 $ 2,933
Exploration and development costs 9,652 2,999
Mine site costs 5,443 2,480
Depreciation and amortization 385 534
Asset retirement obligation adjustments and accretion expense 306 333
Other (income) expense, net 114 (57)
Loss from operations (50,065) (9,222)
Non-operating income (expense):
Interest income 1,896 713
Other income (loss), net (118) 137
Interest expense — (3,387)
Net loss $ (48,287) $ (11,759)
Net loss per share:
Basic and diluted $ (0.54) $ (0.47)
Weighted average shares outstanding:
Basic and diluted 89,740,061 24,948,434
The accompanying notes are an integral part of these Unaudited Condensed Consolidated Financial Statements.
6
Table of Contents
HYCROFT MINING HOLDING CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended March
31,
2026 2025
Cash flows used in operating activities:
Net loss $ (48,287) $ (11,759)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Stock-based compensation 19,130 528
Depreciation and amortization 385 534
Asset retirement obligation adjustments and accretion expense 306 333
(Gain) loss on sale of assets, net 114 (57)
Other non-cash items 139 (122)
Non-cash interest expense — 2,998
Changes in operating assets and liabilities:
Prepaids and deposits 521 911
Receivables (23) 41
Supplies inventories, net (62) 41
Accounts payable, accrued expenses, and other liabilities (3,537) (3,143)
Net cash used in operating activities (31,314) (9,695)
Cash flows from investing activities:
Additions to property, plant, and equipment (576) (171)
Proceeds from sale of assets 68 57
Net cash used in investing activities (508) (114)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs 43,458 215
Taxes paid related to net share settlement of equity awards (4,197) —
Principal payments — (33)
Net cash provided by financing activities 39,261 182
Net increase (decrease) in cash, cash equivalents, and restricted cash 7,439 (9,627)
Cash, cash equivalents, and restricted cash, beginning of period 204,231 77,057
Cash, cash equivalents, and restricted cash, end of period $ 211,670 $ 67,430
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents $ 189,014 $ 39,688
Restricted cash 22,656 27,742
Total cash, cash equivalents, and restricted cash $ 211,670 $ 67,430
The accompanying notes are an integral part of these Unaudited Condensed Consolidated Financial Statements.
7
Table of Contents
HYCROFT MINING HOLDING CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)
(in thousands, except share amounts)
Common Stock Total
Additional Accumulated
Stockholders’
Shares Amount Paid-in Capital Deficit Equity
Balance at January 1, 2026 83,025,384 $ 8 $ 1,040,417 $ (826,730) $ 213,695
Exercise of warrants 8,206,833 1 43,457 — 43,458
Stock-based compensation costs — — 19,130 — 19,130
Taxes withheld related to net share
settlement of equity awards — — (4,197) — (4,197)
Vesting of restricted stock units 128,384 — — — —
Net loss — — — (48,287) (48,287)
Balance at March 31, 2026 91,360,601 $ 9 $ 1,098,807 $ (875,017) $ 223,799
Common Stock Total
Additional Accumulated Stockholders’
Shares Amount Paid-in Capital Deficit Deficit
Balance at January 1, 2025 24,875,587 $ 2 $ 752,649 $ (786,066) $ (33,415)
Issuance of common stock 108,072 — 139 — 139
Stock-based compensation costs — — 529 — 529
Voluntary surrender of shares by
shareholder (301) — — — —
Net loss — — — (11,759) (11,759)
Balance at March 31, 2025 24,983,358 $ 2 $ 753,317 $ (797,825) $ (44,506)
The accompanying notes are an integral part of these Unaudited Condensed Consolidated Financial Statements.
8
Table of Contents
HYCROFT MINING HOLDING CORPORATION
Notes to Unaudited Condensed Consolidated Financial Statements
1. Company Overview
Hycroft Mining Holding Corporation and its subsidiaries (collectively, “Hycroft,” the “Company,” “we,” “us,” “our,” “it,”
or “HYMC”) is a U.S.-based gold and silver company dedicated to the safe, environmentally responsible, and cost-effective
exploration and development of the Hycroft Mine, located in the state of Nevada.
The Company restarted pre-commercial scale open pit mining operations at the Hycroft Mine during the second quarter of
2019 and discontinued mining operations in November 2021. In February 2026, the Company, along with its third-party
consultants, completed and filed the Hycroft Mine Initial Assessment and Technical Report Summary Nevada, USA (“2026
Hycroft TRS”) that included a mineral resource estimate utilizing a pressure oxidation (“POX”) process for transitional and
sulfide mineralization and heap leaching process for oxide mineralization and some transitional mineralization. The Company is
focusing on exploration drilling and data analyses, completing technical studies, conducting trade-off studies and alternative
analyses for determining the optimal process flow sheet for processing sulfide ores and recovering gold and silver, and
maintaining the Hycroft Mine.
2. Summary of significant accounting policies
Basis of presentation
These Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles
(“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain
information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have
been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, these
Financial Statements do not include all information and footnotes necessary for a comprehensive presentation of financial
position, results of operations, or cash flows. These Financial Statements should be read in conjunction with the Company’s
audited consolidated financial statements and the notes thereto as of and for the year ended December 31, 2025 (the “2025 Audited
Financial Statements”), filed as a part of the Company’s annual report on Form 10-K filed with the SEC on March 3, 2026. The
Company continues to follow the accounting policies set forth in the 2025 Audited Financial Statements, with updates discussed
below. In the opinion of management, the

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