Short answer
U.S. GOLD CORP. (USAU) filed its fiscal 2026 10-K annual report with the SEC on Jul 29, 2026.
- Top risk flagged: Regulatory risk: Failure to maintain effective disclosure controls caused late 10-K amendment filing, risking Nasdaq suspension or delisting
FY2026 key financial metrics · XBRL
- Net income
- −$17M
- +16.3% YoY
- EPS (diluted)
- −$1.15
- +36.1% YoY
- ROE
- -35.3%
- +142.1 pp YoY
- Operating cash flow
- −$18M
- −84.5% YoY
Source: XBRL data from the U.S. GOLD CORP. (USAU) FY2026 10-K on SEC EDGAR. USD.
U.S. GOLD CORP. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Section 'business' was empty or not found.
Management Discussion & Analysis
- Revenue $0 for fiscal years 2026 and 2025, no operations yet as a development-stage company
- Operating loss $19.0M in 2026 vs $13.0M in 2025; net loss $17.2M in 2026 vs $20.6M in 2025; operating expenses up $6.0M driven by engineering and strategic consulting
- Best segment: CK Gold Project development with $632M after-tax NPV and 1.6M gold equivalent ounces reserves; no revenue segments disclosed
- Cash flow: $18.2M cash used in operating activities vs $9.9M prior year; $1.9M used in investing mostly land purchase; $42.6M raised in financing including $31.2M from share sales
- Outlook: Need additional funds to advance projects beyond pre-development; substantial doubt about going concern beyond 12 months due to cash burn and no revenue
Risk Factors
- Regulatory risk: Failure to maintain effective disclosure controls caused late 10-K amendment filing, risking Nasdaq suspension or delisting
- Macroeconomic risk: CK Gold Project financing uncertain amid gold price volatility and macroeconomic conditions, requiring $394M initial capital plus $28M pre-production costs
- Operational risk: CK Gold Project Industrial Siting Permit expires June 2027 if construction not resumed, risking costly reapplication and development delays
- Competitive risk: Intense competition from larger, financially stronger mining companies with more experience may impair property acquisition and talent hiring
- Financial risk: Accumulated net losses $110.6M with limited cash $30.7M and work capital $31.6M; substantial doubt about going concern without additional financing
Generated from the filing text; verify against the original. How to read a 10-K
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