10-K · March 24, 2026
Comstock Inc. (LODE) reported significant developments in its segments, notably in solar panel recycling and biomass processing. Despite a decrease in revenue to $1.55 million in 2025 from $3.02 million in 2024, driven…
Earnings analysis · 10-Q
LODE earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Comstock Inc. reported a decline in revenue to $313,456 for Q4 2026, down from $785,815 in Q4 2025, reflecting a loss of $9,383,417 or -0.22 EPS. Operating expenses surged significantly to $8,656,389, exacerbating the…
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Comstock Inc. reported a decline in revenue to $313,456 for Q4 2026, down from $785,815 in Q4 2025, reflecting a loss of $9,383,417 or -0.22 EPS. Operating expenses surged significantly to $8,656,389, exacerbating the losses despite a gain from the sale of royalty rights. The company's cash position improved to $52,967,801, up from $16,951,645, as they work towards fulfilling their sustainability-focused initiatives in metals and biofuels.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.22
- Segment
- Metals Segment
- Segment
- Mining Segment
- Segment
- Bioleum Corporation
- Segment
- Strategic Investments Segment
What stood out
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Revenue Surged 60.5% vs Estimates
Actual revenue was $374,356, 60.5% above the expected $233,314.
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EPS Wider Loss vs Estimates
Reported EPS was -0.22, missing estimates by 46.67%.
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Cash Position Improved
Cash increased to $52,967,801, significantly up from $16,951,645 at the end of 2025.
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Decrease in Operating Losses
Operating loss grew from $7,038,748 to $8,942,743 year-over-year.
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Significant Increase in SG&A Expenses
SG&A expenses rose by $3,310,308 to $6,568,773 owing to higher employee costs.
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Successful Execution of Financing Activities
Generated $56,371,850 in financing activities during Q1 2026.
What to watch
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Rising Operating Expenses
Operating expenses increased to $8,656,389, a $1,718,622 jump compared to Q4 2025.
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Continued Losses
Net loss for the quarter was $9,383,417, reflecting ongoing financial distress.
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Dependency on Financing for Operations
Liquidity at risk if operational costs exceed projections, as reliance on external funding intensifies.
Management's outlook
Management expects to continue to seek funding through asset sales and secure long-term contracts.
Earlier filings 4
10-Q · October 30, 2025
In Q3 2025, Comstock Inc. reported a significant decline in revenue and widened losses compared to prior periods, with actual revenue at $54,079 versus estimated $933,090, resulting in a revenue surprise of -94.2%. The…
10-Q · August 14, 2025
Comstock Inc. reported a significant decline in revenue for Q2 2025, totaling $339,546, down 22% from $434,824 in Q2 2024 and falling short of consensus estimates by nearly 59%. Despite an overall increase in revenues…
10-Q · May 8, 2025
Comstock Inc. reported a revenue of $785,815 for Q1 2025, representing a significant increase from $425,951 in Q1 2024, driven primarily by their Metals Segment, which saw a rise in billable revenues from recycling…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.