SSR MINING INC. (SSRM) FY2025 10-K Annual Report
SSR MINING INC. (SSRM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 17, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
SSR MINING INC. FY2025 10-K Analysis
Business Overview
- • Core business model: Gold and silver mining with multiple operational mines across the Americas
- • New emphasis on Puna mine silver-lead-zinc production in 2025 with 9.8 million oz silver and 45.9 million lb lead produced
- • Strategic shift: Çöpler mine gold production ceased in 2025 after consistent output in prior years
- • Ore mined decreased at Marigold from 27,690 kt in 2024 to 19,321 kt in 2025, indicating operational scale-back
- • Lead and zinc recovery at Puna declined to 93.2% and 40.9% respectively in 2025, continuing a downward trend from prior years
Management Discussion & Analysis
- • Revenue $1,629.6M, up 63.7% YoY (+$634.0M) due to 48% higher gold price (+$379.2M), 45.7% higher silver price (+$128.8M), 18.8% more gold ounces sold (+$124.8M)
- • Operating income $461.4M vs loss $322.3M; net income attributable to shareholders $395.8M vs loss $261.3M; adjusted net income $430.5M vs $57.6M
- • Best segment CC&V: gold produced 124,557 oz since acquisition, cost of sales $157.4M, AISC $1,555/oz; Worst segment Çöpler: suspended operations since Feb 2024, zero production, $150.8M care and maintenance costs
- • Cash and cash equivalents $534.8M (+$147.0M YoY), no borrowings on credit facility, $399.5M available credit; planned $120M + $30M milestone payments for Hod Maden project
- • Management highlights ongoing remediation at Çöpler, expects sufficient liquidity for 12 months; key risk includes timing of Çöpler restart and foreign exchange exposure (ARS weakening)
Risk Factors
- • Cybersecurity risk with material incident investigations requiring prompt Board notification
- • Dependency on Director of Cybersecurity with 30+ years experience and multiple certifications
- • Quarterly Cybersecurity Committee reviews involving Legal, Operations, and Internal Audit teams
- • Board oversight of enterprise risk management including cybersecurity with biannual updates
- • Engagement of third-party experts for cybersecurity risk assessments and incident management
SSR MINING INC. FY2025 Key Financial MetricsXBRL
Revenue
$1.6B
▲ +62.4% YoY
Net Income
$396M
▲ +251.5% YoY
Operating Margin
28.8%
▲ +6144bp YoY
Net Margin
24.7%
▲ +5116bp YoY
ROE
11.3%
▲ +1969bp YoY
Total Assets
$6.1B
▲ +17.4% YoY
EPS (Diluted)
$1.85
▲ +243.4% YoY
Operating Cash Flow
$472M
▲ +1075.8% YoY
Source: XBRL data from SSR MINING INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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