The company has maintained zero revenue over the last ten quarters while reporting a substantial net loss of $104.7 million in 2026Q1, driven by $21.5 million in quarterly SG&A expenses.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 1.29M | 1.82M | 0 | 1.81M | 1.41M | 1.6M | 489.41K | 309.72K | 176.1K | 99K | 34.6K | 8.96K | 1.67K | 3.16K | 4.06K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -1.29M | -1.82M | 0 | -1.81M | -1.41M | -1.6M | -489.41K | -309.72K | -176K | -99K | -34.6K | -8.96K | -1.67K | -3.16K | -4.06K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | 100% | -28.38% | 11.81% | -226.8% | -58.01% | -75.98% | -77.77% | -186.09% | -286.17% | -436.27% | 47.05% | 22.21% | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Expenses | 67.27M | 55.37M | 174.1M | 85.48M | 81.92M | 101.55M | 62.21M | 13.09M | 15.43M | 11.42M | 14.63M | 8.63M | 2.5M | 188.59K | 190.62K | 315.92K | 643.16K | 363.05K | 534.18K | 707.82K | 653.6K | 619.77K | 168.17K | 502.99K | 85.65K | 115.7K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 62.83M | 55.37M | 174.1M | 85.48M | 81.92M | 101.55M | 62.21M | 13.09M | 15.31M | 10.56M | 13.35M | 7.78M | 2.34M | 79.46K | 99.13K | 273.15K | 625.28K | 294.79K | 609.13K | 700.93K | 649.01K | 616.16K | 167.93K | 502.79K | 85.36K | 115.29K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62.9K | 60.42K | 486.29K | 142.69K | 0 | 0 | 0 | 14.79K | 12.76K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5M | 1.09M | 1.58M | 83.78K | 109.13K | -35K | -4.13K | 5.13K | -24K | -74.95K | 6.89K | 4.59K | 0 | -401 | 203 | 0 | 0 |
| Operating Income | -68.56M | -57.2M | -174.1M | -87.29M | -83.33M | -103.15M | -62.7M | -13.4M | -15.61M | -11.52M | -14.67M | -8.64M | -2.51M | -169.5K | -173 | -316K | -643.16K | -363K | -534K | -708K | 653.6K | 1.03M | -168K | 600.49K | -85.65K | -115.7K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 67.15% | -99.44% | -4.76% | 19.22% | -64.51% | -368.09% | 14.19% | -35.47% | 21.45% | -69.71% | -244.93% | -1378.46% | -97866.13% | 99.95% | 50.87% | -77.18% | 32.02% | 24.58% | -208.32% | -36.67% | 714.29% | -127.98% | 801.11% | 25.98% | - |
| EBITDA | -67.12M | -55.37M | -173.87M | -85.48M | -81.92M | -101.55M | -62.21M | -13.09M | -15.41M | -11.41M | -14.64M | -8.64M | -2.5M | -166.34K | 3.88K | -310.76K | -637.36K | -356.56K | -526.34K | -701.11K | 658.18K | 1.04M | -167.76K | 600.7K | -85.36K | -115.29K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 39.99% | 68.15% | -103.4% | -4.35% | 19.34% | -63.24% | -375.43% | 15.08% | -35.08% | 22.06% | -69.49% | -244.8% | -1405.5% | -4382.85% | 101.25% | 51.24% | -78.75% | 32.26% | 24.93% | -206.52% | -36.44% | 717.31% | -127.93% | 803.71% | 25.96% | - |
| D&A (Non-Cash Add-back) | 1.44M | 1.82M | 226K | 1.81M | 1.41M | 1.6M | 489.41K | 309.72K | 200.91K | 115.62K | 34.6K | 8.96K | 1.67K | 3.16K | 4.06K | 5.24K | 5.81K | 6.44K | 7.66K | 6.89K | 4.59K | 3.61K | 239 | 203 | 288 | 413 |
| EBIT | -111.02M | -57.2M | -175.21M | -82.46M | -65.52M | -92.82M | -47.22M | -20.69M | -15.52M | -10.74M | -13.55M | -7.93M | -3.12M | -191.36K | -201.5K | -1.29M | -746.91K | -6.44M | -6.42M | -823K | -637K | 589.77K | 0 | 0 | 0 | -115.7K |
| Net Interest Income | -4.71M | 329.73K | 2.94M | 2.04M | 361K | 228K | 190.7K | -139.19K | 18.28K | 0 | 0 | 0 | 0 | 0 | -34.7K | 0 | -8.39K | 0 | 0 | 0 | 0 | -8.02K | 0 | 0 | 0 | 0 |
| Interest Income | 2.89M | 3.06M | 2.94M | 2.04M | 361K | 228K | 309.83K | 70.22K | 21.16K | 25.01K | 25.76K | 15.49K | 4 | 144 | 295 | 1.4K | 1.61K | 213 | 15.01K | 0 | 16.37K | 11.98K | 0 | 1.4K | 0 | 0 |
| Interest Expense | 7.6M | 2.73M | 0 | 0 | 0 | 0 | 119.13K | 134.69K | 2.88K | 25.01K | 25.76K | 15.49K | 4 | 144 | 35K | 1.4K | 10K | 213 | 15.01K | 0 | 0 | 20K | 0 | 0 | 0 | 0 |
| Other Income/Expense | -181.99M | -122.03M | 22.16M | 4.58M | 17.75M | 10.21M | 15.36M | -7.49M | 89.69K | 1.52M | 1.12M | 1.57M | -618K | -21.86K | -41.83K | -973K | -113.76K | -6.1M | -5.88M | -148K | 16.21K | -462K | -26.68K | -97.5K | -259.15K | 321 |
| Pretax Income | -250.55M | -179.23M | -151.94M | -82.71M | -65.57M | -92.95M | -47.34M | -20.89M | -15.52M | -10M | -13.55M | -7.07M | -3.12M | -191.36K | -237 | -320K | -756.92K | -6.46M | -6.42M | -856K | 653.44K | 569.77K | -195K | 502.99K | -344.8K | -115.38K |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | -1.29M | 3.46M | 0 | -485.9K | 0 | 0 | 0 | 0 | 92.58K | -19.11K | -26.41K | 2.69K | 0 | -382 | 6.83K | -1.4K | 0 | -448K | -77.73K | -33.38K | -16.37K | 419.99K | 54.08K | 96.1K | 0 | -68.64K |
| Effective Tax Rate % | 0.51% | -1.93% | 0% | 0.59% | 0% | 0% | 0% | 0% | -0.6% | 0.19% | 0.19% | -0.04% | 0% | 0.2% | -2881.86% | 0.44% | 0% | 6.93% | 1.21% | 3.9% | -2.5% | 73.71% | -27.73% | 19.11% | 0% | 59.49% |
| Net Income | -249.26M | -182.69M | -151.94M | -82.23M | -65.57M | -92.95M | -47.34M | -20.89M | -15.52M | -10M | -13.55M | -7.07M | -3.12M | -191.36K | -236.5K | -319K | -756.92K | -6.02M | -6.34M | -823K | -637K | -1.09M | -223K | -599K | -344.8K | -46.74K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -92.07% | -20.24% | -84.78% | -25.39% | 29.45% | -96.34% | -126.67% | -34.57% | -55.17% | 26.19% | -91.67% | -126.31% | -1532.5% | 19.09% | 25.86% | 57.86% | 87.42% | 5.06% | -670.11% | -29.2% | 41.56% | -388.79% | 62.77% | -73.72% | -637.65% | - |
| Net Income (Continuing) | -249.26M | -182.69M | -151.94M | -82.23M | -65.57M | -92.95M | -47.34M | -20.89M | -15.52M | -10M | -13.55M | -7.07M | -3.12M | -191.36K | -236.5K | -1.29M | -756.92K | -6.02M | -6.34M | -823K | -637K | -1.09M | -223K | -599K | -344.8K | -46.74K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.05 | -1.59 | -1.53 | -1.29 | -1.26 | -1.96 | -1.69 | -1.00 | -0.70 | -0.65 | -1.30 | -1.21 | -2.52 | -0.30 | -0.37 | -0.51 | -1.58 | -16.49 | -21.39 | -3.23 | -3.05 | -6.37 | -2.00 | -5.86 | -4.00 | -0.66 |
| EPS Growth % | -31.94% | -3.92% | -18.6% | -2.38% | 35.71% | -15.98% | -69% | -42.86% | -7.69% | 50% | -7.44% | 51.98% | -740% | 18.92% | 27.45% | 67.72% | 90.42% | 22.91% | -562.23% | -5.9% | 52.12% | -218.5% | 65.87% | -46.5% | -506.06% | - |
| EPS (Basic) | - | -1.59 | -1.53 | -1.29 | -1.26 | -1.96 | -1.69 | -1.00 | -0.70 | -0.65 | -1.30 | -1.21 | -2.52 | -0.30 | -0.37 | -0.51 | -1.58 | -16.49 | -21.39 | -3.23 | -3.05 | -6.37 | -2.00 | -5.86 | -4.00 | -0.66 |
| Diluted Shares Outstanding | 121.59M | 115.22M | 99.13M | 84.35M | 70.35M | 59.82M | 42.25M | 26.98M | 22.17M | 15.48M | 10.4M | 5.82M | 1.24M | 638.79K | 632.34K | 626.29K | 478.89K | 364.89K | 296.33K | 254.29K | 209.09K | 171.05K | 111.33K | 102.28K | 86.28K | 71.25K |
| Basic Shares Outstanding | 121.59M | 115.22M | 99.13M | 84.35M | 70.35M | 59.82M | 42.25M | 26.98M | 22.17M | 15.48M | 10.4M | 5.82M | 1.24M | 638.79K | 632.34K | 626.29K | 478.89K | 364.89K | 296.33K | 254.29K | 209.09K | 171.05K | 111.33K | 102.28K | 86.28K | 71.25K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Development and Permitting Hurdles
As indicated by the company's recent financial statements, Skeena Resources continues to report significant quarterly SG&A expenses, which reached $21.5 million in 2026Q1, reflecting the ongoing costs of maintaining a development-stage mining entity without any offsetting revenue streams to mitigate the persistent operational cash burn.
The company's cost structure is currently defined by heavy administrative and exploration-related spending rather than production-linked expenses. Investors should monitor whether these elevated SG&A levels represent a permanent baseline or if they will scale further as the company approaches the final investment decision for its Eskay Creek project.
Based on the provided income statement data, the company's net losses have remained substantial, with a reported net loss of $104.7 million in 2026Q1, a figure that highlights the impact of non-operating items and the absence of revenue on the firm's bottom-line performance.
The volatility in quarterly net income, including the significant loss in 2026Q1, suggests that the company is highly sensitive to accounting adjustments and financing-related costs. Analysts should scrutinize the extent to which stock-based compensation and other non-cash charges contribute to these losses, as they may mask the true underlying cash requirements of the business.
According to historical income statement filings, the company has consistently reported zero revenue over the last ten quarters, which underscores the speculative nature of its current valuation and the reliance on external capital to fund its ongoing development activities in British Columbia.
While the company maintains a cash position of approximately $121.8 million, the lack of revenue generation creates a binary risk profile where the firm is entirely dependent on equity markets or debt financing. This reliance may lead to further shareholder dilution if the timeline for project permitting and construction extends beyond current management expectations.
Quick answers to the most common questions about buying SKE stock.
For fiscal year 2025, Skeena Resources Limited (SKE) reported total revenue of $0.0M.
Skeena Resources Limited (SKE) reported a net loss of $182.7M for the fiscal year ending 2025.