Idaho Strategic Resources (IDR) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased 13.3% year-over-year to $10.73 million, and for the first half of 2026 rose 50.5% compared to the same period in 2025, driven by higher average realized gold prices and increased production volumes.

• Net income for Q2 2026 was $3.65 million, up 32.4% year-over-year; six-month net income reached $9.99 million, a 130.8% increase over 2025.

• EPS for Q2 2026 was $0.23, with weighted average diluted shares outstanding at 15.98 million.

• The company expanded gold production at Golden Chest Mine, advanced rare earth element (REE) exploration, and achieved record underground mine development and backfill.

• Ore processed totaled 11,094 tonnes at a 7.89 gpt gold feed grade and 91.4% recovery; production was impacted by a wildfire causing a one-week mill shutdown.

Financial highlights

• Q2 2026 revenue: $10.73 million; six-month revenue: $25.21 million.

• Gross profit margin for Q2 2026 was 56.2% (down from 57.8% in Q2 2025); six-month gross margin improved to 61.9%.

• Operating income for Q2 2026 was $3.66 million (up 45.5% year-over-year); six-month operating income was $11.25 million (up 187%).

• Cash provided by operations for the first half of 2026 was $13.73 million; cash at period end was $8.23 million.

• Total assets at June 30, 2026: $130.02 million; total liabilities: $6.86 million.

Outlook and guidance

• Management expects to meet all contractual obligations and capital requirements for the next 12 months, supported by strong working capital and operational cash flows.

• Development of the high-grade Jumbo vein is ahead of schedule, with production expected to begin in Q3.

• Focus remains on increasing gold production, expanding asset base, and advancing REE exploration.

• Management anticipates tailwinds from gold's role in global reserves, rare earth supply chain shifts, and tightening copper markets.