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Sigma Lithium (SGML) investor relations material
Sigma Lithium Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Net revenue increased 69% quarter-on-quarter and 36% year-over-year, driven by strategic pricing, client partnerships, and commercial strategy despite lithium market volatility.
Maintained operational excellence with 787 consecutive days without lost time injury and a TRIFR of 1.79, among the lowest globally.
Upgraded Greentech Plant to version 3.0, achieving over 70% recovery rates and compensating for mining constraints; mining operations are being upgraded to match plant capacity.
Mining operations are set to restart by end of November, with full ramp-up expected by 1Q26 using upgraded, leased equipment.
Liquidity improved with $29 million in cash as of November 13, 2025, including trade receivables converted to cash.
Financial highlights
Net revenues reached $28.5 million in 3Q25, up from $16.9 million in 2Q25 and $20.9 million in 3Q24.
Net revenues increased by 69% sequentially and 36% year-over-year; pricing rose 33% quarter-on-quarter.
Generated $31 million in cash from final price settlements and expects an additional $33 million from sales of high-purity middlings.
Operating margin rose 42% and net margin 67% year-over-year; cash balance reached $29 million as of the call.
Short-term trade finance debt reduced by 38% to $37 million as of September 30, 2025.
Outlook and guidance
Mining operations expected to resume by end of November and reach full capacity by 1Q26.
Targeting all-in sustaining cost of $560/ton for 2026 with plant one, and $500/ton for 2027 after plant two expansion.
Expects to reach 73,000 tons of lithium oxide concentrate in Q1 2026 and 550,000 tons annual production in 2027.
Free cash flow projected at $132 million for 2026 and $270 million for 2027 at current price levels.
Additional $33 million anticipated from sale of 950,000 tonnes of high-purity lithium middlings.
Plant 2 commissioning timeline
Impact of middlings sales on Q4 cash flow
Use of 2026 uncommitted offtake proceeds
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Next Sigma Lithium earnings date
Q4 20251 Apr, 2026
Next Sigma Lithium earnings date
Q4 20251 Apr, 2026
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Frequently asked questions
Sigma Lithium Corp, operating under the ticker SGML, is a Canada-based global lithium producer focused on the exploration and development of lithium deposits in Brazil. The company holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties, which encompass roughly 30 mineral rights covering approximately 185 square kilometers in the Araçuaí and Itinga regions of Minas Gerais, Brazil. These efforts serve the electric vehicle industry worldwide, reflecting Sigma Lithium's commitment to powering electric vehicle batteries with environmentally sustainable and high-purity lithium. The company is headquartered in São Paulo, Brazil, and its shares are listed on the NASDAQ.
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