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v3.25.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Financial information relating to the reporting segments | Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended March 31, 2025 | Las Chispas (5) |  | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 27,882 |  |  | $ | 43,695 |  |  | $ | 41,783 |  |  | $ | 65,207 |  |  | $ | 56,760 |  |  | $ | — |  |  | $ | — |  |  | $ | 235,327 |
Silver sales | 30,137 |  |  | 52,111 |  |  | 40,843 |  |  | 36 |  |  | 1,608 |  |  | — |  |  | — |  |  | 124,735 |
Metal sales | 58,019 |  |  | 95,806 |  |  | 82,626 |  |  | 65,243 |  |  | 58,368 |  |  | — |  |  | — |  |  | 360,062 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 42,834 |  |  | 43,703 |  |  | 48,536 |  |  | 42,156 |  |  | 27,037 |  |  | — |  |  | — |  |  | 204,266 |
Amortization | 8,936 |  |  | 9,181 |  |  | 14,907 |  |  | 7,471 |  |  | 1,474 |  |  | 946 |  |  | 178 |  |  | 43,093 |
Exploration | 1,878 |  |  | 3,860 |  |  | 1,467 |  |  | 3,301 |  |  | 2,629 |  |  | 6,107 |  |  | 440 |  |  | 19,682 |
Other operating expenses(2) | 67 |  |  | 1,629 |  |  | 2,754 |  |  | 570 |  |  | 1,188 |  |  | 3,078 |  |  | 21,579 |  |  | 30,865 |
Costs and expenses | 53,715 |  |  | 58,373 |  |  | 67,664 |  |  | 53,498 |  |  | 32,328 |  |  | 10,131 |  |  | 22,197 |  |  | 297,906 |
Income (loss) from operations | 4,304 |  |  | 37,433 |  |  | 14,962 |  |  | 11,745 |  |  | 26,040 |  |  | (10,131) |  |  | (22,197) |  |  | 62,156 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | (346) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (346) |
Interest expense, net | (17) |  |  | 15 |  |  | (2,258) |  |  | (177) |  |  | (98) |  |  | — |  |  | (7,915) |  |  | (10,450) |
Other, net(3) | 428 |  |  | (688) |  |  | (88) |  |  | (85) |  |  | (43) |  |  | 97 |  |  | 785 |  |  | 406 |
Income (loss) before income and mining taxes | 4,715 |  |  | 36,760 |  |  | 12,270 |  |  | 11,483 |  |  | 25,899 |  |  | (10,034) |  |  | (29,327) |  |  | 51,766 |
Income and mining tax (expense) benefit | (1,852) |  |  | (11,099) |  |  | (613) |  |  | (488) |  |  | (2,522) |  |  | — |  |  | (1,839) |  |  | (18,413) |
Net Income (loss) | $ | 2,863 |  |  | $ | 25,661 |  |  | $ | 11,657 |  |  | $ | 10,995 |  |  | $ | 23,377 |  |  | $ | (10,034) |  |  | $ | (31,166) |  |  | $ | 33,353 |
Segment assets(4) | $ | 1,717,053 |  |  | $ | 312,023 |  |  | $ | 1,229,683 |  |  | $ | 233,190 |  |  | $ | 124,776 |  |  | $ | 219,103 |  |  | $ | 62,948 |  |  | $ | 3,898,776 |
Capital expenditures | $ | 5,338 |  |  | $ | 5,857 |  |  | $ | 14,853 |  |  | $ | 15,473 |  |  | $ | 7,364 |  |  | $ | 854 |  |  | $ | 263 |  |  | $ | 50,002 |
(1) Excludes amortization. (2) Other operating expenses include General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill. (5) Las Chispas was acquired through the SilverCrest Transaction. Financial results presented correspond to the period after the acquisition. See Note 3 - Acquisitions for further information.
Three Months Ended March 31, 2024 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 53,902 |  |  | $ | 12,681 |  |  | $ | 43,485 |  |  | $ | 41,701 |  |  | $ | — |  |  | $ | — |  |  | $ | 151,769 |
Silver sales | 42,476 |  |  | 17,148 |  |  | 34 |  |  | 1,633 |  |  | — |  |  | — |  |  | 61,291 |
Metal sales | 96,378 |  |  | 29,829 |  |  | 43,519 |  |  | 43,334 |  |  | — |  |  | — |  |  | 213,060 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 54,294 |  |  | 26,999 |  |  | 39,289 |  |  | 25,415 |  |  | — |  |  | — |  |  | 145,997 |
Amortization | 12,602 |  |  | 6,633 |  |  | 5,596 |  |  | 1,393 |  |  | 852 |  |  | 221 |  |  | 27,297 |
Exploration | 2,485 |  |  | 431 |  |  | 1,545 |  |  | 123 |  |  | 5,280 |  |  | 627 |  |  | 10,491 |
Other operating expenses(2) | 2,254 |  |  | 5,750 |  |  | 7,626 |  |  | 1,101 |  |  | 2,705 |  |  | 13,196 |  |  | 32,632 |
Costs and expenses | 71,635 |  |  | 39,813 |  |  | 54,056 |  |  | 28,032 |  |  | 8,837 |  |  | 14,044 |  |  | 216,417 |
Income (loss) from operations | 24,743 |  |  | (9,984) |  |  | (10,537) |  |  | 15,302 |  |  | (8,837) |  |  | (14,044) |  |  | (3,357) |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 438 |  |  | 438 |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense, net | (26) |  |  | (1,340) |  |  | (471) |  |  | (152) |  |  | (6) |  |  | (10,952) |  |  | (12,947) |
Other, net(3) | 546 |  |  | 30 |  |  | (81) |  |  | (42) |  |  | (58) |  |  | 2,378 |  |  | 2,773 |
Income (loss) before income and mining taxes | 25,263 |  |  | (11,294) |  |  | (11,089) |  |  | 15,108 |  |  | (8,901) |  |  | (22,180) |  |  | (13,093) |
Income and mining tax (expense) benefit | (11,683) |  |  | 234 |  |  | — |  |  | (1,136) |  |  | — |  |  | (3,439) |  |  | (16,024) |
Net Income (loss) | $ | 13,580 |  |  | $ | (11,060) |  |  | $ | (11,089) |  |  | $ | 13,972 |  |  | $ | (8,901) |  |  | $ | (25,619) |  |  | $ | (29,117) |
Segment assets(4) | $ | 314,217 |  |  | $ | 1,110,479 |  |  | $ | 182,085 |  |  | $ | 102,351 |  |  | $ | 214,522 |  |  | $ | 57,607 |  |  | $ | 1,981,261 |
Capital expenditures | $ | 6,761 |  |  | $ | 21,243 |  |  | $ | 13,258 |  |  | $ | 308 |  |  | $ | 509 |  |  | $ | 4 |  |  | $ | 42,083 |
(1) Excludes amortization. (2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Consolidated Assets |
Assets | March 31, 2025 |  | December 31, 2024
Total assets for reportable segments | $ | 3,898,776 |  |  | $ | 2,161,881 |
Cash and cash equivalents | 77,574 |  |  | 55,087 |
Other assets | 90,543 |  |  | 84,779 |
Total consolidated assets | $ | 4,066,893 |  |  | $ | 2,301,747 |
Long Lived Assets by Country | Geographic Information
Long-Lived Assets | March 31, 2025 |  | December 31, 2024
United States | $ | 1,310,753 |  |  | $ | 1,312,976 |
Mexico | 1,818,914 |  |  | 267,144 |
Canada | 236,900 |  |  | 237,263 |
Other | 233 |  |  | 233 |
Total | $ | 3,366,800 |  |  | $ | 1,817,616 |
Revenue from External Customers by Geographic Areas |
Revenue |  |  | Three months ended March 31,
|  |  |  | 2025 |  | 2024 |  |
United States |  |  |  |  | $ | 206,237 |  |  | $ | 116,682 |  |  |
Mexico |  |  |  |  | 153,825 |  |  | 96,378 |  |  |
Total |  |  |  |  | $ | 360,062 |  |  | $ | 213,060 |  |  |

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