Earnings ·
Largo Inc. filed its unaudited interim financial statements and MD&A for the six months ended June 30, 2026
LGOLargo Inc.
Largo Inc. filed its unaudited interim financial statements and MD&A for the six months ended June 30, 2026. The company reported a net loss of $27,465 thousand, compared to a net loss of $14,957 thousand in the prior year period. Revenues increased 32% to $71,528 thousand, driven by higher vanadium sales volumes and prices. The filing discloses that Largo was awarded a five-year contract with the U.S. Department of Defense for up to $125 million in high-purity vanadium pentoxide deliveries, receiving an initial order valued at $60,100 thousand in July 2026. Additionally, the company commenced production of copper and platinum group metals as byproducts on August 7, 2026. Largo also raised $24,792 thousand through its ATM equity program during the period. The filing highlights material uncertainties regarding the company's ability to continue as a going concern due to declining vanadium prices and working capital deficits. Largo Inc. is a Canadian-based producer of vanadium products sourced from its Maracás Menchen Mine in Brazil.