Largo Inc. released its financial results for the second quarter ended June 30, 2025, reporting revenues of $26.1 million, a decrease from $28.6 million in Q2 2024. The company recorded a net loss of $5.8 million, an improvement from the $14.5 million loss in the prior year's quarter.
The company continued to make progress in realigning its operations and cost structure, delivering a 17% reduction in total operating costs year-over-year. Adjusted cash operating costs excluding royalties were $3.18 per pound sold, reflecting disciplined cost containment measures.
Largo's cash position stood at $5.6 million, a significant decrease from $35.8 million in Q2 2024. The company is taking proactive steps to strengthen its liquidity position, including the recently secured $6 million loan, as it navigates subdued vanadium market conditions.
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