Significant Revenue Growth
Revenues increased to $244.6 million in Q3 2025 from $75.2 million in Q2 2025, driven by higher sales volume and average selling price.
Positive EBITDA and Gross Margin
EBITDA was $45.8 million, with an EBITDA margin of 18.7%. Gross profit rose to $9.7 million with a positive gross margin of 3.9%, compared to negative margins in previous quarters.
Record Low Production Costs
Total production costs declined by 12% to $6.38 per kilogram in Q3 2025. Cash costs decreased by 11% to $4.54 per kilogram, the lowest in the company's history.
Increased Sales Volume
Sales volume increased significantly to 42,406 metric tons from 18,126 metric tons in the previous quarter, reducing inventory levels.
Strong Financial Position
The company maintained a strong balance sheet with $2.21 billion in cash and readily convertible financial assets.