Short answer
Ramaco Resources, Inc. (METC) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $121M (down 27.7% year over year) with net income of −$13M.
Q3 2025 key financials · XBRL
- Revenue
- $121M
- −27.7% YoY · −20.9% QoQ
- Net income
- −$13M
- −5469.0% YoY · +4.8% QoQ
- Operating margin
- -12.0%
Source: XBRL data from the Ramaco Resources, Inc. (METC) Q3 2025 10-Q on SEC EDGAR. USD.
Ramaco Resources, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Nine-month coal revenue $408.6M, down 18% YoY; tons sold up 1%
- Coal segment adjusted EBITDA $51.4M, down 40% YoY
- Rare Earths EBITDA $(12.4)M vs $(3.6)M YoY; no revenue or cost of sales
- Cash $193.8M and revolver availability $78.6M at September 30, 2025
- Operating cash flow $20.3M; capital expenditures $52.1M and equity proceeds $189.0M
- Near-term headwind: volatile metallurgical coal prices, expected to remain volatile
Risk Factors
- New rare-earth initiative risk triggered by Brook Mine development, with no mineral reserves and only in-place inferred resources
- Most material update: OBBBA creates a temporary 2.5% metallurgical-coal production credit beginning in 2026 and ending after December 31, 2029
- Regulatory risk: unresolved SEC comments on Brook Mine PEA viability claims, Subpart 1300 disclosures, and planned pilot-scale processing facility
- Competitive risk: Chinese producers dominate rare-earth supply and may use export controls, predatory pricing, or lower-cost production
- Market risk: rare-earth prices depend on demand from electric vehicles, wind turbines, robotics, medical equipment, and military equipment
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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