The company remains a pre-revenue entity with extreme operating income volatility, evidenced by a swing from a $7.6 million loss in 2026Q2 to a $25.0 million gain in 2026Q1.
| Metric | TTM | Jun'25 | Dec'23 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 462.83K | 711.34K | 117.81K | 148.36K | 64.89K | 0 | 0 | 0 | 0 | 0 | 14.43B | 129.14B | 179.39B | 171.44B | 227.69B | 2.27M | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -462.83K | -711.34K | -117.81K | -148.36K | -64.89K | 0 | 0 | 0 | 0 | 0 | -14.43B | -129.14B | -179.39B | -171.44B | -227.69B | -368.58B | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -503.81% | 20.59% | -128.62% | - | - | - | - | - | 100% | 88.83% | 28.01% | -4.64% | 24.71% | 38.22% | - | - |
| Operating Expenses | -45.67M | -26.99M | 17.65M | 17.5M | 19.48M | 10.66M | 5.59M | 4.44M | 3.77M | 2.84M | 1.22M | 2.92M | 9.2M | 10.03M | 4.26M | 2.85M | 224.87K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 9.47M | 10.61M | 17.65M | 17.5M | 19.48M | 10.66M | 5.59M | 4.44M | 3.77M | 2.84M | 1.22M | 2.92M | 9.2M | 10.03M | 4.03M | 495.91K | 194.39K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -2M | -37.6M | 0 | -269 | 9.39K | -178 | 0 | 0 | 0 | 0 | 0 | 363.46K | 7M | 0 | 228K | -87.17K | 0 |
| Operating Income | 45.21M | 26.28M | -17.65M | -17.64M | -19.48M | -10.66M | -5.59M | -4.44M | -3.77M | -2.84M | -1.22M | -2.92M | -9.2M | -10.03M | -4.26M | -2.85M | -1.1M |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 248.9% | -0.02% | 9.4% | -82.68% | -90.55% | -25.99% | -17.86% | -32.86% | -132.46% | 58.28% | 68.21% | 8.32% | -135.52% | -49.26% | -158.75% | - |
| EBITDA | 45.38M | 26.4M | -17.53M | -17.51M | -19.42M | 1K | 0 | 0 | 0 | 0 | 0 | -3.67M | 0 | 0 | -4.26M | -2.85M | -1.1M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -7.82% | 250.59% | -0.13% | 9.85% | -1942126% | - | - | - | - | - | 100% | - | - | 100% | -49.26% | -158.75% | - |
| D&A (Non-Cash Add-back) | 165.45K | 121.88K | 117.81K | 136.5K | 55.74K | 10.66M | 5.59M | 4.44M | 3.77M | 2.84M | 1.22M | -750K | 9.2M | 10.03M | 0 | 0 | 0 |
| EBIT | -6.84M | -26.38M | -76.81M | -17.64M | -23.3M | 25.17M | -9.24M | -8.36M | -6.19M | -2.84M | -1.22M | -3.61M | -9.2M | -10.03M | -4.26M | -2.85M | -1.1M |
| Net Interest Income | -3.36M | -11.25M | -4.58M | -1.94M | -329K | 1.57K | 74.95K | 224.71K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 2.41M | 480.24K | 137.32K | 29.65K | 1.5K | 1.57K | 74.95K | 224.71K | 158.78K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 5.77M | 11.73M | 4.72M | 1.97M | 330.05K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -73M | -64.39M | -63.88M | -22.1M | -4.15M | 35.83M | -3.65M | -3.92M | -2.42M | 0 | 1.93T | 5.69T | 10.58T | 10.87T | 4.26T | 2.85T | 0 |
| Pretax Income | -27.79M | -38.11M | -81.53M | -39.74M | -23.63M | 25.17M | -9.24M | -8.36M | -6.19M | -2.84M | -1.22M | -3.61M | -9.2M | -10.03M | 4.26T | 2.85T | 0 |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 56.55K | -83.4K | 0 | 0 | -120K | 1.3M | 0 | 0 | 0 | 0 | 1.93T | 0 | 10.58T | 10.87T | 4.26T | 2.85T | 1.1M |
| Effective Tax Rate % | -0.2% | 0.22% | 0% | 0% | 0.51% | 5.17% | 0% | 0% | 0% | 0% | -158422195.08% | 0% | -115069719.53% | -108305112.8% | 100% | 100% | - |
| Net Income | -27.84M | -38.03M | -81.53M | -39.74M | -23.51M | 23.87M | -9.24M | -8.36M | -6.19M | -2.84M | -1.22M | -3.61M | -9.2M | -10.03M | -4.26M | -2.85M | -1.1M |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 30.53% | 53.36% | -105.16% | -69.06% | -198.48% | 358.32% | -10.58% | -35.01% | -118.23% | -132.46% | 66.19% | 60.77% | 8.32% | -135.52% | -49.26% | -158.75% | - |
| Net Income (Continuing) | -27.84M | -38.03M | -81.53M | -39.74M | -23.51M | 23.87M | -9.24M | -8.36M | -6.19M | -2.84M | -1.22M | -3.61M | -9.2M | -10.03M | -4.26M | -2.85M | -1.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.61 | -3.49 | -8.88 | -5.61 | -3.49 | 3.82 | -1.43 | -1.95 | -1.09 | -0.62 | -0.31 | -0.94 | -2.43 | -3.54 | -2.35 | -1.82 | -0.70 |
| EPS Growth % | -23.45% | 60.7% | -58.29% | -60.75% | -191.36% | 367.13% | 26.67% | -78.9% | -75.81% | -100% | 67.02% | 61.32% | 31.36% | -50.64% | -29.12% | -160% | - |
| EPS (Basic) | - | -3.49 | -8.88 | -5.61 | -3.49 | 3.82 | -1.43 | -1.95 | -1.09 | -0.62 | -0.31 | -0.94 | -2.43 | -3.54 | -2.35 | -1.82 | -0.70 |
| Diluted Shares Outstanding | 17.24M | 10.9M | 9.18M | 7.09M | 6.73M | 6.25M | 6.48M | 6.28M | 5.68M | 4.61M | 3.94M | 3.84M | 3.79M | 2.84M | 1.81M | 1.57M | 1.57M |
| Basic Shares Outstanding | 17.24M | 10.9M | 9.18M | 7.09M | 6.73M | 6.25M | 6.48M | 6.28M | 5.67M | 4.58M | 3.93M | 3.84M | 3.79M | 2.83M | 1.81M | 1.57M | 1.57M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Execution and logistical delivery risk
As reported in recent financial filings, CTGO continues to incur consistent SG&A expenses, averaging approximately $2.7 million per quarter, while maintaining zero revenue, which underscores the company's current status as a pre-revenue development entity reliant on external capital to fund its ongoing Alaskan operations.
The absence of revenue generation means that all reported costs, including the recurring SG&A and minor COGS, represent pure cash burn rather than operational investment. Investors should monitor whether these administrative costs stabilize or escalate as the company approaches the production phase at the Manh Choh project.
Based on the provided income statement data, CTGO consistently records stock-based compensation, with quarterly figures reaching as high as $978.1K in 2026Q3, which significantly impacts the net loss profile and complicates the assessment of true cash-based operational expenses for the development-stage firm.
The reliance on equity-based incentives suggests management is attempting to preserve cash, yet the resulting dilution warrants careful scrutiny by shareholders. The volatility in net income, which swings between significant losses and occasional positive prints, appears driven by non-operating items rather than core business performance.
According to the quarterly income statement data, CTGO's operating income has exhibited extreme volatility, swinging from a $7.6 million loss in 2026Q2 to a $25.0 million gain in 2026Q1, indicating that current operating metrics are heavily influenced by non-recurring accounting adjustments rather than sustainable business scaling.
This erratic performance suggests that the company lacks a stable operating leverage profile at this stage of its lifecycle. Analysts should interpret these fluctuations as evidence of the company's sensitivity to project-level accounting and the inherent unpredictability of its current development-phase financial reporting.
As indicated by the company's reliance on a 250-mile trucking route to the Fort Knox mill, CTGO faces significant margin risks, as the lack of onsite processing makes the firm uniquely vulnerable to fluctuations in diesel prices and regional Alaskan labor costs, as noted in recent disclosures.
While the hub-and-spoke model avoids massive upfront capital expenditure, it effectively trades fixed-cost risk for variable-cost exposure. Investors should consider that any sustained increase in fuel prices could severely compress future margins, potentially rendering the high-grade Manh Choh deposit less economic than current models suggest.
Quick answers to the most common questions about buying CTGO stock.
For fiscal year 2025, Contango Ore, Inc. (CTGO) reported total revenue of $0.0M.
Contango Ore, Inc. (CTGO) reported a net loss of $38.0M for the fiscal year ending 2025.