Largo Inc. (LGO) Form 6-K — Aug 14, 2026
Q2 2026 revenue rose 68.5% to $44.0 million and adjusted EBITDA swung positive at $2.7 million as Maracas Menchen Mine production climbed 28.5%, but the net loss widened to $22.7 million from $5.8 million a year earlier. The filing carries explicit going-concern language: Largo ended June with $5.1 million in cash against $114.2 million of debt all maturing within twelve months and a $79.3 million working capital deficit, and management states substantial doubt exists about its ability to continue absent a successful turnaround, new financing, or better vanadium prices. Offsets include a five-year U.S.
Key figures
- Eps
- -$0.21 basic and diluted (Q2 2026); -$0.30 (H1 2026)
- Revenue
- $43,999 thousand (Q2 2026); $71,528 thousand (H1 2026)
- Net Income
- -$22,735 thousand (Q2 2026); -$27,465 thousand (H1 2026)
- Total Debt
- $114,249 thousand, entirely current (maturing within 12 months)
- Revenue Yoy
- +68.5% (Q2 2026 vs Q2 2025); +32% (H1 2026 vs H1 2025)
- Total Assets
- $346,205 thousand at June 30, 2026
- Cash Position
- $5,103 thousand at June 30, 2026
- Shares Outstanding
- 103,134 thousand at June 30, 2026 (up from 83,673 thousand at December 31, 2025)
- Atm Shares Issued
- 18,535 thousand shares at $1.34 per share
- Storion Ownership
- 37.37% (diluted from 50.00%)
- Copper PGMGuidance
- 300 to 400 tonnes per month at ~15% Cu grade
- Atm Program Capacity
- $60,000 thousand
- Dod Contract Max Value
- $125,000 thousand over five years
- Litigation Provision
- $4,095 thousand
- Dod First Delivery Order
- $60,100 thousand from U.S. Defense Logistics Agency (July 2026)
- Working Capital Deficit
- $79,269 thousand
- Adjusted EBITDA Q2 2026
- $2,695 thousand vs $34 thousand in Q2 2025
- V2o5 Equivalent Sales Q2
- 2,773 tonnes (+53.5% YoY)
- Atm Gross Proceeds H1 2026
- $24,792 thousand
- V2o5 Equivalent Production Q2
- 2,900 tonnes (+28.5% YoY)
- Mining Adjusted EBITDA Q2 2026
- $4,376 thousand vs $2,656 thousand in Q2 2025
- Net Cash Used In Operating H1 2026
- -$16,751 thousand
AI analysis
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