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OTC MARKETS · Metals & Mining · CIK 0001828377
$4.50
-2.39% · live
Updated
$109.7M market value
From Fortitude Gold Corp's FY2025 10-K, filed Mar 3, 2026 · read the filing
Fortitude Gold mines metal ores. It took in $18.4M last year, which makes it a small company. Of every dollar it sells, about 2 cents is left as profit.
The financial picture is led by debt, with profitability worth watching, while growth remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From Fortitude Gold Corp's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Revenue
$37.3M → $18.4M
Gross profit
$18.3M → $10.0M
Profit
-$2.0M → $420.0K
Free cash flow
-$10.1M → -$15.0M
Measured against FY2024, from the 10-K filed Mar 3, 2026
Deteriorated: -50.7%
$37.3M to $18.4MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
How the latest move compares (quote live), and what was published around it
FTCO fell 2.39% on the latest quote. The average Materials company tracked here moved −1.23%, and the S&P 500 −0.41%. That is 1.2 points below its sector and 2.0 points below the market.
No filing from FTCO and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 0.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 2 cents of every dollar of sales as profit, earning $420.0K last year. Note that operations still consumed cash despite the reported profit.
No. Sales shrank 50.7% last year.
It does not appear so. For every $1 it owes, it owns $4.28 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid out more than it earned — 1385 cents for every dollar of profit. A payment above earnings has to be funded from somewhere else, so it is worth checking whether that can continue. It has paid in each of the last 5 years.
WeakNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $420.0K and generated -$13.0M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Mar 3, 2026Filing for FY2025 | FY202410-K · Feb 25, 2025Filing for FY2024 | FY202310-K · Feb 27, 2024Filing for FY2023 | FY202210-K/A · Feb 27, 2024Filing for FY2022 | FY202110-K · Mar 1, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $18.4M | $37.3M | $73.1M | $74.4M | $82.1M | −50.7% |
| Cost of revenue | $8.4M | $19.0M | $31.8M | $39.0M | $41.5M | −55.5% |
| Gross profit | $10.0M | $18.3M | $41.2M | $35.4M | $40.6M | −45.7% |
| Gross marginGross profit ÷ revenueWhat is this? | 54.1% | 49.1% | 56.4% | 47.6% | 49.4% | +5.0 pts |
| Selling, general and administrative | $4.9M | $5.9M | $5.0M | $5.8M | $11.4M | −17.2% |
| Interest expense | — | — | — | — | $129.0K | — |
| Income before tax | $440.0K | $1.4M | $21.0M | $18.0M | $23.5M | −68.5% |
| Net income | $420.0K | -$2.0M | $17.0M | $14.7M | $17.9M | n/m |
| Net marginNet income ÷ revenueWhat is this? | 2.3% | -5.5% | 23.3% | 19.7% | 21.8% | +7.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $0.0172 | $-0.0845 | $0.7066 | $0.6112 | $0.7456 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Published results
Read the filingQuarterly report for Q2 FY2026
Revenue +68.0% · Profit margin −10.3 pts · Gross profit +104.3% — against Q2 FY2025
Read the filingWrite down why you are following Fortitude Gold Corp, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 6 subsidiaries named in its 10-K. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Source: Exhibit 21 of the 10-K filed 2026-03-03. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from FTCO's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Mar 3, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 4/8 | 10-K, filed Mar 3, 2026 |
| FY2024 | 4.7 | 2/8 | 10-K, filed Feb 25, 2025 |
| FY2023 | 7.3 | 6/8 | 10-K, filed Feb 27, 2024 |
| FY2022 | 7.3 | 4/8 | 10-K, filed Feb 28, 2023 |
| FY2021 | 10.0 | 8/9 | 10-K, filed Mar 1, 2022 |
| FY2020 | 10.0 | 3/3 | 10-K, filed Mar 1, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: -45.7%
$18.3M to $10.0MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: turned positive
-$2.0M to $420.0KCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: $4.9M wider
-$10.1M to -$15.0MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$0.08 to $0.02Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -82.8%
$27.1M to $4.7MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: -49.9%
$11.6M to $5.8MCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Changed: -43.9%
$3.5M to $1.9MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +5.0 pts
49.1% to 54.1%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +7.8 pts
-5.5% to 2.3%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 4, 2026 — read it.
Improved: +68.0%
$4.9M to $8.2MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +104.3%
$2.7M to $5.4MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +11.7 pts
54.4% to 66.1%Critical
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −10.3 pts
17.4% to 7.0%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -42.2%
$0.03 to $0.02Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +17.6%
24.3M to 28.6MCritical
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Deteriorated: -32.0%
$849.0K to $577.0KSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -21.0%
$17.1M to $13.5MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 4, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +156.3%
$3.2M to $8.2MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +147.8%
$2.2M to $5.4MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: turned positive
-$1.6M to $577.0KCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +58.0 pts
-50.9% to 7.0%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: turned positive
-$0.06 to $0.02Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +35.1%
$10.0M to $13.5MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +5.2%
27.2M to 28.6MSignificant
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Deteriorated: −2.3 pts
68.4% to 66.1%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 3782.4x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
Sold shares outside a public offering
Held a shareholder vote
Read the filingSigned a material agreement
Read the filingPublished results
Read the filingQuarterly report for Q1 FY2026
Revenue -51.0% · Profit margin −70.0 pts · Profit turned negative — against Q1 FY2025
Read the filingPublished results
Read the filingAnnual report for FY2025
Revenue -50.7% · Profit margin +7.8 pts · Gross profit -45.7% — against FY2024
Read the filingSigned a material agreement · Reported another event
Read the filingSold shares outside a public offering
Read the filingPublished results
Read the filingQuarterly report for Q3 FY2025
Revenue -54.5% · Profit margin −4.2 pts · Gross profit -48.4% — against Q3 FY2024
Read the filingPublished results
Read the filingQuarterly report for Q2 FY2025
Revenue -48.9% · Profit margin +18.8 pts · Gross profit -44.9% — against Q2 FY2024
Read the filingHeld a shareholder vote
Read the filingPublished results
Read the filingQuarterly report for Q1 FY2025
Revenue -20.1% · Profit margin +19.1 pts · Profit turned positive — against Q1 FY2024
Read the filingPublished results
Read the filingAnnual report for FY2024
Revenue -48.9% · Profit margin −28.8 pts · Gross profit -55.5% — against FY2023
Read the filingCoverage from the last 30 days
Primary sources and further research