$VGZ

VISTA GOLD CORP

CIK:0000783324|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expense:
Exploration, property evaluation and holding costs	$ (2,504)	$ (1,784)	$ (4,158)	$ (3,322)
Corporate administration	(846)	(678)	(2,477)	(1,976)
Depreciation and amortization	(67)	(23)	(103)	(45)
Total operating expense	(3,417)	(2,485)	(6,738)	(5,343)
Non-operating income (loss):
Interest income	466	140	651	309
Other loss, net	(6)	(11)	(15)	(30)
Total non-operating income	460	129	636	279
Loss before income taxes	(2,957)	(2,356)	(6,102)	(5,064)
Net loss	$ (2,957)	$ (2,356)	$ (6,102)	$ (5,064)
Basic:
Weighted average number of shares outstanding (in shares)	145,971,346	124,931,351	138,824,189	124,405,109
Net loss per share	$ (0.02)	$ (0.02)	$ (0.04)	$ (0.04)
Diluted:
Weighted average number of shares outstanding (in shares)	145,971,346	124,931,351	138,824,189	124,405,109
Net loss per share	$ (0.02)	$ (0.02)	$ (0.04)	$ (0.04)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (6,102)	$ (5,064)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	103	45
Stock-based compensation	802	478
Change in working capital account items:
Other current assets	86	238
Accounts payable, accrued liabilities and other	390	188
Net cash used in operating activities	(4,721)	(4,115)
Cash flows from investing activities:
Additions to plant and equipment	(323)	(50)
Capitalized mineral property development costs		(150)
Net cash used in investing activities	(323)	(200)
Cash flows from financing activities:
Payment of underwriting and offering costs	(2,844)
Payment of taxes from withheld shares	(1,048)	(245)
Net cash provided by financing activities	40,958	576
Net increase (decrease) in cash and cash equivalents	35,914	(3,739)
Cash and cash equivalents, beginning of period	13,622	16,950
Cash and cash equivalents, end of period	49,536	13,211
March 2026 Offering
Cash flows from financing activities:
Proceeds from equity financing, net	$ 44,850
At-The-Market Offering Agreement
Cash flows from financing activities:
Proceeds from equity financing, net		$ 821

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 49,536	$ 13,622
Other current assets	440	526
Total current assets	49,976	14,148
Non-current assets:
Mineral properties (Note 3)	1,070	1,070
Plant and equipment, net (Note 4)	1,206	986
Other non-current assets	69	69
Total non-current assets	2,345	2,125
Total assets	52,321	16,273
Current liabilities:
Accounts payable	328	230
Accrued liabilities and other (Note 5)	1,133	861
Total current liabilities	1,461	1,091
Non-current liabilities:
Other liabilities	95	75
Total non-current liabilities	95	75
Total liabilities	1,556	1,166
Commitments and contingencies (Note 7)
Shareholders' equity:
Common shares, no par value - unlimited shares authorized; shares outstanding: 2026 - 145,971,346 and 2025 - 127,007,520 (Note 6)	524,520	482,760
Accumulated deficit	(473,755)	(467,653)
Total shareholders' equity	50,765	15,107
Total liabilities and shareholders' equity	$ 52,321	$ 16,273