Short answer
SSR MINING INC. (SSRM) filed its fiscal 2025 10-K annual report with the SEC on Feb 17, 2026. It reported revenue of $1.6B (+62.4% year over year) and net income of $396M.
- Top risk flagged: Cybersecurity risk with material incident investigations requiring prompt Board notification
FY2025 key financial metrics · XBRL
- Revenue
- $1.6B
- +62.4% YoY
- Net income
- $396M
- +251.5% YoY
- Operating margin
- 28.8%
- +61.4 pp YoY
- EPS (diluted)
- $1.85
- +243.4% YoY
- ROE
- 11.3%
- +19.7 pp YoY
- Operating cash flow
- $472M
- +1075.8% YoY
Source: XBRL data from the SSR MINING INC. (SSRM) FY2025 10-K on SEC EDGAR. USD.
SSR MINING INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
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