Short answer
UNITED STATES ANTIMONY CORP (UAMY) filed its fiscal 2024 10-K annual report with the SEC on Mar 20, 2025. It reported revenue of $15M (+71.8% year over year) and net income of −$2M.
- Top risk flagged: Regulatory risk: uncertainty in VAT refund claims in Mexico, impacting reserves and receivables in 2023 and 2024
FY2024 key financial metrics · XBRL
- Revenue
- $15M
- +71.8% YoY
- Net income
- −$2M
- +72.7% YoY
- Operating margin
- -16.0%
- +65.3 pp YoY
- Gross margin
- 23.2%
- EPS (diluted)
- −$0.02
- +66.7% YoY
- ROE
- -6.1%
- +18.8 pp YoY
- Operating cash flow
- $2M
- +146.7% YoY
Source: XBRL data from the UNITED STATES ANTIMONY CORP (UAMY) FY2024 10-K on SEC EDGAR. USD.
UNITED STATES ANTIMONY CORP FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: processing and sale of antimony products and zeolite, plus mining and sale of precious metals gold and silver
- New emphasis on expansion with 2024 acquisitions of mining claims in Alaska and Ontario, Canada, and a metals concentration facility lease in Montana
- Strategic reversal in 2024: initially planned to sell Mexican subsidiary USAMSA but retained it due to increased antimony demand and price
- Antimony sales revenue jumped to $11.1M in 2024 from $5.9M in 2023; antimony price per pound rose to $7.61 from $5.44, with 1.46M pounds sold
- Total employees at year-end 2024: 62, concentrated in Montana, Idaho, and Mexico, reflecting steady workforce size
Management Discussion & Analysis
- Key risk: dependency on single Canadian ore supplier and lease for zeolite mining, potential material adverse impact on operations and cash flow
- Concentrated customer base with two customers generating 43% of revenues in 2024, heightening revenue volatility and pricing risk
- Significant operational risks from geological uncertainty, mining accidents, energy cost volatility, infrastructure and labor availability
Risk Factors
- Regulatory risk: uncertainty in VAT refund claims in Mexico, impacting reserves and receivables in 2023 and 2024
- Geopolitical risk: expanded mining claims in Alaska and Ontario acquired in 2024 with future drilling program planned, requiring government funding access
- Operational risk: zeolite segment gross loss increased due to machinery repair and backup equipment lease costs during production downtime in 2024
- Competitive risk: antimony price volatility with market price $10.44/lb in 2024 versus company’s average sales price $7.61/lb, affecting margins and order pricing timing
- Financial risk: reliance on equity financing with $2.8 million raised from stock sales and $1.5 million from warrant exercises in 2024 to fund operations and growth
Generated from the filing text; verify against the original. How to read a 10-K
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