Almonty Industries reported a 498% year-over-year revenue increase for the second quarter 2026, reaching $43.0 million. The Company posted a net income of $181.8 million, or $0.62 per diluted share, a substantial turn from the $58.2 million loss in the prior-year period. Results were significantly influenced by the fair value revaluation of derivative instruments following a major financing and record tungsten market pricing.
Key Highlights
- Revenue growth of 498% to $43.0 million was primarily driven by record tungsten prices, with European APT average pricing rising to US$3,075 per MTU.
- Net income of $181.8 million was significantly boosted by $173.1 million in aggregate net non-cash gains on the revaluation of derivative and warrant instruments.
- The Company transformed its balance sheet by closing an oversubscribed US$800 million convertible senior notes offering, ending the quarter with a $1.2 billion cash position.
- Subsequent to the quarter, Almonty amended its long-term offtake agreement with Global Tungsten & Powders, extending the term by six years and increasing contracted volumes by 40%.