LGO revenueFY2025$109.89M
- FY YoY
- -12.0%
- 5Y CAGR
- -1.9%
LGO revenue was $109.89M for fiscal 2025 (ended Dec 31, 2025), down 12.0% from fiscal 2024. Compound annual growth was -1.9% over 5 years. It rose in 2 of the last 5 fiscal years.
Largo Inc. (LGO) financials
For fiscal 2025 (ended Dec 31, 2025), Largo Inc. reported $109.89M of revenue and -$68.51M of net income.
- Revenue, FY2025
- $109.89M
- Revenue growth, YoY
- -12.0%
- Net income, FY2025
- -$68.51M
- Net margin
- -62.3%
- Free cash flow, FY2025
- -$37.66M
- EPS, diluted, FY2025
- -$1.01
- Cash
- $9.72M
- Total debt
- $0
- P/S
- 0.37
- Market cap
- $40.3M
FY2020FY2025
FY2020FY2025
FY2020FY2025
LGO revenue and earnings growth
LGO net incomeFY2025-$68.51M
LGO net income was -$68.51M for fiscal 2025 (ended Dec 31, 2025), compared with -$49.83M in fiscal 2024.
LGO EPSFY2025-$1.01
LGO diluted EPS was -$1.01 for fiscal 2025 (ended Dec 31, 2025), compared with -$0.78 in fiscal 2024.
LGO free cash flowFY2025-$37.66M
LGO free cash flow was -$37.66M for fiscal 2025 (ended Dec 31, 2025), compared with -$31.07M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue | $109.89M | $124.92M | $198.68M | $229.25M | $198.28M | $121.01M |
| Cost of revenue | $52.56M | $68.48M | $103.55M | $94.52M | $75.13M | $48.93M |
| Gross profit | $57.33M | $56.44M | $95.14M | $134.73M | $198.28M | $121.62M |
| Research and development | $714.0K | $3.39M | $6.12M | $12.70M | $3.83M | $0 |
| Selling, general and admin | $8.31M | $5.43M | $11.79M | $14.32M | $6.40M | $3.33M |
| Interest expense | $13.01M | $9.11M | $9.31M | $1.38M | $922.0K | $1.14M |
| Pre-tax income | -$51.67M | -$71.25M | -$35.06M | $4.04M | $31.76M | $7.72M |
| Income tax | $17.06M | -$20.68M | -$2.70M | $6.26M | $9.19M | -$962.0K |
| Net income | -$68.51M | -$49.83M | -$30.34M | -$1.45M | $22.57M | $6.76M |
| EPS, basic | -$1.01 | -$0.78 | -$0.51 | -$0.03 | $0.35 | $0.12 |
| EPS, diluted | -$1.01 | -$0.78 | -$0.51 | -$0.03 | $0.35 | $0.11 |
| Diluted shares | 67.8M | 64.1M | 64.0M | 64.4M | 65.0M | 61.4M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $9.72M | $22.11M | $42.71M | $54.47M | $83.79M | $79.14M |
| Receivables | $11.06M | $9.74M | $25.60M | $20.98M | $23.68M | $19.10M |
| Inventory | $49.51M | $47.54M | $61.56M | $64.22M | $45.32M | $35.34M |
| Current assets | $78.05M | $93.29M | $137.12M | $154.14M | $159.98M | $137.30M |
| Total assets | $318.75M | $318.67M | $381.62M | $355.75M | $313.91M | $297.81M |
| Current liabilities | $153.93M | $114.26M | $42.45M | $38.97M | $41.67M | $44.35M |
| Long-term debt | $0 | $17.50M | $75.00M | $36.00M | $0 | - |
| Total debt | $0 | $17.50M | $75.00M | $36.00M | $0 | - |
| Total liabilities | $182.22M | $147.44M | $125.82M | $81.20M | $48.21M | $50.64M |
| Shareholders' equity | $130.35M | $164.82M | $255.80M | $274.55M | $265.70M | $247.16M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$10.22M | $11.16M | $21.20M | $3.46M | $39.78M | -$59.51M |
| Capital expenditures | $27.44M | $42.23M | $53.55M | $42.19M | $27.40M | $18.11M |
| Free cash flow | -$37.66M | -$31.07M | -$32.35M | -$38.73M | $12.38M | -$77.61M |
| Investing cash flow | -$26.44M | -$42.23M | -$62.88M | -$60.15M | -$27.40M | -$18.11M |
| Financing cash flow | $23.89M | $12.04M | $29.13M | $26.43M | -$6.90M | $30.23M |
| Stock-based compensation | $2.29M | $1.32M | -$362.0K | $2.37M | $3.13M | $1.64M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue growth, YoY | -12.0% | -37.1% | -13.3% | 15.6% | 63.9% | - |
| Net income growth, YoY | - | - | - | - | 233.8% | - |
| EPS growth, YoY | - | - | - | - | 218.2% | - |
| Gross margin | 52.2% | 45.2% | 47.9% | 58.8% | 100.0% | 100.5% |
| Net margin | -62.3% | -39.9% | -15.3% | -0.6% | 11.4% | 5.6% |
| Free cash flow margin | -34.3% | -24.9% | -16.3% | -16.9% | 6.2% | -64.1% |
| Return on equity | -52.6% | -30.2% | -11.9% | -0.5% | 8.5% | 2.7% |
| Return on assets | -21.5% | -15.6% | -8.0% | -0.4% | 7.2% | 2.3% |
| Current ratio | 0.51 | 0.82 | 3.23 | 3.96 | 3.84 | 3.10 |
| Debt to equity | 0.00 | 0.11 | 0.29 | 0.13 | 0.00 | - |
Source: XBRL data Largo Inc. files with the SEC, latest filing dated Apr 1, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
LGO peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| LGO | $109.89M | -12.0% | -$68.51M | -62.3% | $40.3M |
| MLM | $7.21B | +19.6% | $2.30B | 31.9% | $37.76B |
| VMC | $8.01B | +1.6% | $1.10B | 13.8% | $37.15B |
| TECK | C$10.76B | +18.7% | C$1.40B | 13.0% | $31.75B |
| SQM | $4.58B | +1.0% | $588.14M | 12.9% | $16.20B |
| HL | $1.82B | +84.1% | $382.86M | 21.0% | $10.35B |
| MDU | $1.86B | -0.8% | $192.48M | 10.3% | $4.05B |
| USLM | $381.09M | +4.5% | $133.68M | 35.1% | $3.45B |
| KNF | $3.38B | +10.9% | $134.62M | 4.0% | $3.35B |
LGO FAQ
9 questionsWhat is LGO revenue?
Largo Inc. (LGO) reported $109.89M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 12.0% from the year before.Is LGO profitable?
No. Largo Inc. reported a net loss of $68.51M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does LGO have?
Largo Inc. reported $9.72M in cash and cash equivalents and $0 of debt on its most recent balance sheet in SEC filings.How fast is LGO revenue growing?
Largo Inc.'s revenue changed -12.0% in fiscal 2025, to $109.89M. Its compound annual growth rate was -1.9% over 5 years.What is LGO gross margin?
Largo Inc.'s gross profit was $57.33M on $109.89M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 52.2%.What is LGO free cash flow?
Largo Inc. generated -$37.66M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$10.22M less capital expenditures.What is LGO earnings per share?
Diluted earnings per share were -$1.01 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did LGO last report financial results?
The latest statements here come from Largo Inc.'s 40-F filed on Apr 1, 2026, covering the period ended Dec 31, 2025.Where does this LGO financial data come from?
Quantisnow builds these statements from the structured XBRL data Largo Inc. files with the SEC. It is provided for information only and is not investment advice.