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Financials · LODE

Comstock Inc. (LODE) financials

For the twelve months ended Sep 30, 2026, Comstock Inc. reported $1.33M of revenue and -$48.87M of net income.

Revenue, TTM
$1.33M
Revenue growth, YoY
-52.2%
Net income, TTM
-$48.87M
Net margin
-3680.5%
Cash
$39.45M
P/S
109.97
Market cap
$146.0M
Annual revenue$1.55M
FY2016FY2025
Annual net income-$43.08M
FY2016FY2025
Annual free cash flow-$15.44M
FY2016FY2023

LODE revenue and earnings growth

LODE revenueQ3 2026$367.3K

Quarter YoY
+579.1%
QoQ
+34.6%
FY YoY
-48.5%
5Y CAGR
+50.4%
10Y CAGR
-21.9%

LODE revenue was $367.3K in fiscal Q3 2026 (ended Sep 30, 2026), up 579.1% from a year earlier and up 34.6% from the prior quarter. For the full fiscal 2025 it was $1.55M, down 48.5% from fiscal 2024. Compound annual growth was +50.4% over 5 years and -21.9% over 10 years. It rose in 6 of the last 10 fiscal years.

LODE net incomeQ3 2026-$753.5K

LODE net income was -$753.5K in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$12.89M a year earlier. For the full fiscal 2025 it was -$43.08M, compared with -$53.32M in fiscal 2024.

LODE EPSFY2025-$1.17

LODE diluted EPS was -$1.17 for fiscal 2025 (ended Dec 31, 2025).

LODE free cash flowQ3 2026-$10.50M

LODE free cash flow was -$10.50M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$9.63M a year earlier. For the full fiscal 2023 it was -$15.44M, compared with -$13.12M in fiscal 2022.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.55M$3.02M$1.27M$178.2K$862.2K$201.7K$179.6K$150.3K$104.3K$5.07M
Cost of revenue$2.63M$451.9K$0$0$272.1K$51.9K----
Gross profit-$1.07M$2.56M$1.27M$178.2K$590.1K$149.8K----
Research and development$12.32M$19.10M$6.12M$7.02M$414.8K$0----
Selling, general and admin$20.67M$12.70M$12.59M$10.24M$5.55M$4.40M$3.31M$3.40M$2.60M$3.52M
Operating income-$38.15M-$39.67M-$12.60M-$19.36M-$6.41M-$5.47M-$5.34M-$7.40M-$8.88M-$10.21M
Interest expense$1.93M$2.97M$1.65M$1.65M$168.9K$421.9K$879.5K$1.41M$1.71M$753.7K
Pre-tax income$43.08M$53.32M--$46.74M-$30.33M$14.93M-$3.81M-$9.48M-$10.58M-$12.96M
Income tax$0$0$0$0-$5.75M$0$0$0$0$0
Net income-$43.08M-$53.32M$9.16M-$46.74M-$24.58M$14.93M-$3.81M-$9.48M-$10.58M-$12.96M
EPS, basic-$1.17-$3.21$0.87-$0.62-$0.49$0.49-$0.20-$0.79-$1.29-$1.85
EPS, diluted-$1.17-$3.21$0.87-$0.62-$0.49$0.49-$0.20-$0.79-$1.29-$1.85
Diluted shares36.7M16.6M10.5M74.5M50.4M30.6M19.5M11.9M8.2M7.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$16.95M$954.3K$3.79M$2.52M$5.91M$2.43M$1.02M$488.7K$2.07M$184.4K
Short-term investments-$0$18.91M$0------
Receivables$1.29M$2.42M$26.4K$4.99M-----$0
Inventory---------$0
Current assets$20.66M$12.56M$23.18M$30.77M$13.83M$20.83M$13.35M$8.56M$7.73M$7.96M
Goodwill$1.51M$0-$0$12.79M$0----
Total assets$169.60M$91.31M$106.47M$100.05M$126.95M$43.12M$39.57M$28.61M$30.96M$33.84M
Current liabilities$10.02M$8.11M$14.84M$31.63M$23.91M$4.83M$4.44M$2.39M$1.11M$2.42M
Short-term debt$0$97.6K$4.50M$1.80M$0$3.56M$328.1K$309.8K$291.5K$483.7K
Long-term debt$0$8.39M$5.36M$6.12M$4.49M$0$5.08M$8.86M$9.97M$8.99M
Total debt$0$8.49M$9.85M$7.92M$4.49M$3.56M$5.41M$9.17M$10.26M$9.47M
Total liabilities$58.70M$31.54M$28.19M$43.69M$33.98M$11.34M$16.08M$19.23M$19.10M$19.43M
Shareholders' equity$107.58M$59.77M$78.28M$56.36M$92.97M$31.78M$23.49M$9.38M$11.87M$14.42M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$24.39M-$13.94M-$13.63M-$12.11M-$7.49M-$3.76M-$2.31M-$4.03M-$6.53M-$2.60M
Capital expenditures--$1.82M$1.01M$78.5K$130.8K$2.44M$1.66M$1.81M$746.5K
Free cash flow---$15.44M-$13.12M-$7.57M-$3.90M-$4.74M-$5.68M-$8.35M-$3.34M
Investing cash flow-$21.98M-$6.48M$3.63M-$3.73M-$16.10M$3.21M$2.64M-$1.63M$979.3K$2.56M
Financing cash flow$62.36M$17.59M$11.26M$12.45M$27.07M$1.97M$192.1K$4.08M$7.44M-$1.44M
Stock-based compensation-$41.8K-$2.3K$482.0K$464.0K$204.2K$0-$0$18.9K
Depreciation and amortization$3.84M$2.24M$2.48M$3.33M$1.03M$1.22M$1.82M$3.15M$4.19M$5.89M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-48.5%136.7%615.4%-79.3%327.4%12.3%19.5%44.1%-97.9%-72.6%
Gross margin-69.1%85.0%100.0%100.0%68.4%74.3%----
Operating margin-2455.2%-1315.1%-989.0%-10868.0%-743.0%-2714.1%-2975.2%-4924.1%-8509.6%-201.4%
Net margin-2772.3%-1767.9%718.9%-26235.3%-2851.4%7403.1%-2118.3%-6308.3%-10137.3%-255.7%
Free cash flow margin---1211.8%-7364.2%-878.1%-1931.2%-2640.7%-3781.4%-7998.9%-66.0%
Return on equity-40.0%-89.2%11.7%-82.9%-26.4%47.0%-16.2%-101.0%-89.1%-89.9%
Return on assets-25.4%-58.4%8.6%-46.7%-19.4%34.6%-9.6%-33.1%-34.2%-38.3%
Current ratio2.061.551.560.970.584.323.003.586.973.29
Debt to equity0.000.140.130.140.050.110.230.980.860.66

Source: XBRL data Comstock Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-5, first reported Feb 20, 2018; 1-for-5, first reported Mar 30, 2020.

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.

LODE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
LODE$1.33M-52.2%-$48.87M-3680.5%$146.0M
HL$1.82B+84.1%$382.86M21.0%$10.35B
CDE$3.60B+111.7%$692.97M19.2%$16.81B
NEM$26.61B+23.7%$9.24B34.7%$130.07B
RGLD$1.76B+105.2%$838.55M47.7%$23.90B
MUX$241.55M+45.1%$44.46M18.4%$995.8M
PZG$6.3K+2.0%-$15.56M-245390.7%$91.9M

LODE FAQ

7 questions
  • What is LODE revenue?
    Comstock Inc. (LODE) reported $1.33M of revenue for the twelve months ended Sep 30, 2026. That is down 52.2% from the year before. Revenue for fiscal 2025 was $1.55M.
  • Is LODE profitable?
    No. Comstock Inc. reported a net loss of $48.87M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does LODE have?
    Comstock Inc. reported $39.45M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is LODE revenue growing?
    Comstock Inc.'s revenue changed -48.5% in fiscal 2025, to $1.55M. Its compound annual growth rate was +50.4% over 5 years and -21.9% over 10 years.
  • What is LODE gross margin?
    Comstock Inc.'s gross profit was -$2.02M on $1.33M of revenue for the twelve months ended Sep 30, 2026, a gross margin of -151.8%.
  • When did LODE last report financial results?
    The latest statements here come from Comstock Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this LODE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Comstock Inc. files with the SEC. It is provided for information only and is not investment advice.