Largo Q2 FY26 net loss widens to $22.74 million; revenue climbs 68.5% to $44 million
LGO•Costs rise on higher inputs
Cash operating costs excluding royalties rose 10.2% to $5.10/lb sold due to higher diesel, explosives, sulfur-derived reagents and fuel oil.
Production and sales increase
V$_2$O$_5$ equivalent sales rose 53.5% to 2,773 tonnes, while production increased 28.5% to 2,900 tonnes, near the top of guidance.
Contract win and new output line
Largo secured a $60.1 million U.S. Defense Logistics Agency delivery order.
The company also started copper-PGM concentrate output on Aug. 7, and is guiding for 300–380 tonnes monthly.
Q2 revenue rises as net loss widens
Largo posted second-quarter 2026 revenue of $44 million, up 68.5% from a year earlier, while its net loss widened to $22.74 million.
Adjusted EBITDA (non-GAAP) turned positive at , and cash provided before working-capital items climbed to .
