Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60.4M | $67.5M | $128M | $117M | $105M | $137M | $110M | $166M | $174M | $198M |
| Revenue growth | — | 11.7% | 90.0% | -8.7% | -10.5% | 30.3% | -19.1% | 50.5% | 5.0% | 13.2% |
| Gross profit | $32.3M | $20.1M | $32.1M | $8.99M | -$26.9M | -$6.48M | -$544K | $17.8M | $30.9M | $47.6M |
| Gross margin | 53.4% | 29.8% | 25.0% | 7.7% | -25.7% | -4.7% | -0.5% | 10.7% | 17.7% | 24.1% |
| Operating income | $15.3M | -$26.3M | -$47.2M | -$63.9M | -$153M | -$64.3M | -$95.4M | -$162M | -$50.6M | $2.65M |
| Operating margin | 25.4% | -39.0% | -36.8% | -54.6% | -146.2% | -47.1% | -86.4% | -97.5% | -29.0% | 1.3% |
| Net income | $21.1M | -$10.6M | -$44.9M | -$59.7M | -$152M | -$56.7M | -$81.1M | $55.3M | -$43.7M | $34.4M |
| Net margin | 34.9% | -15.8% | -35.0% | -51.1% | -145.4% | -41.5% | -73.4% | 33.3% | -25.0% | 17.4% |
| EPS (diluted) | $0.07 | -$0.03 | -$0.13 | -$0.17 | -$3.78 | -$1.25 | -$1.71 | $1.16 | -$0.86 | $0.59 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.45M | -$27.6M | $487K | -$39.5M | -$27.9M | -$20.1M | -$56.6M | -$39.6M | $29.5M | $6.87M |
| Capital expenditures | $1.17M | $5.08M | $62.3M | — | — | — | — | — | — | — |
| Free cash flow | $6.27M | -$32.7M | -$61.9M | — | — | — | — | — | — | — |
| Share buybacks | $582K | — | — | — | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $37.4M | $27.2M | $15.8M | $46.5M | $20.8M | $54.3M | $39.8M | $23.0M | $13.7M | $51.0M |
| Total assets | $498M | $592M | $617M | $631M | $500M | $525M | $529M | $657M | $665M | $820M |
| Total liabilities | $55.3M | $70.9M | $131M | $132M | $135M | $135M | $172M | $155M | $170M | $274M |
| Long-term debt | — | — | $24.6M | $19.8M | $48.2M | $48.9M | $64.0M | $40.0M | $40.0M | $126M |
| Shareholders' equity | $443M | $521M | $486M | $499M | $365M | $390M | $356M | $502M | $495M | $546M |
| Retained earnings | -$919M | -$930M | -$971M | -$1.03B | -$1.18B | -$1.24B | -$1.32B | -$1.27B | -$1.31B | -$1.28B |
| Shares (wtd avg diluted) | 300M | 314M | 337M | 362M | 40.3M | 45.5M | 47.4M | 47.5M | 51.0M | 65.6M |
Every figure is extracted from McEwen Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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