$SGML

Sigma Lithium Corp

CIK:0001848309|SEC Filings

Consolidated Statements of Loss - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Loss - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Net sales revenue	$ 110,012	$ 151,352
Cost of goods sold	(91,590)	(119,718)
Gross profit	18,422	31,634
Sales expenses	(845)	(2,796)
General and administrative expenses	(17,337)	(18,418)
Other operating expenses, net	(22,462)	(7,398)
Stock-based compensation	(1,840)	(8,102)
Operating expenses	(42,484)	(36,714)
Operating loss before financial results and income taxes	(24,062)	(5,080)
Financial expenses, net	(10,320)	(60,951)
Loss before income tax and social contribution	(34,382)	(66,031)
Income tax and social contribution – current	(328)	(5,503)
Income tax and social contribution – deferred	(15,475)	20,138
Net loss for the year	$ (50,185)	$ (51,396)
Basic net loss per common share	$ (0.45)	$ (0.46)
Diluted net loss per common share	$ (0.45)	$ (0.46)
Weighted average number of common shares outstanding - basic	111,313,183	110,751,538
Weighted average number of common shares outstanding - diluted	111,313,183	110,751,538

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Operating activities

Net loss for the year

$ (50,185)

$ (51,396)

Adjustments for:

Foreign exchange (gain) loss, net

(17,903)

40,407

Interest in loans with related parties

(2,727)

(2,092)

Accretion of present value of assets retirement obligation

239

156

Amortization of transaction costs

725

745

Provision for contingencies

1,607

1,949

Social programs provision

949

255

Stock-based compensation

2,014

8,102

Provision for expected inventory losses

7,945

Depreciation and depletion

10,355

13,761

Income tax and social contribution - current and deferred

15,803

(14,635)

Interest in loans and leases

20,608

21,323

Other

2,759

3,672

(Increase) decrease in operating assets

Trade accounts receivable

11,952

4,230

Inventories

(7,728)

(6,396)

Advance to suppliers

7,654

(6,467)

Prepaid expenses and other assets

2,720

(231)

Recoverable VAT and other taxes, net

(9,604)

(10,762)

Cash held as collateral

1,403

(171)

Other assets

(849)

Increase (decrease) in operating liabilities

Suppliers

7,105

(3,669)

Prepayment from customer

3,450

Taxes payables

12,899

9,921

Payroll and related charges

1,139

Other liabilities

361

3,292

Interest payment on loans and leases

(19,132)

(31,545)

Net cash provided by (used in) operating activities

2,445

(18,298)

Investing activities

Purchase of property, plant and equipment

(9,890)

(16,748)

Addition to exploration and evaluation assets

(995)

(3,146)

(1,080)

(3,707)

Net cash used in investing activities

(11,965)

(23,601)

Financing activities

Repayment of loan

(94,390)

(122,161)

Proceeds from loans

57,745

178,383

Intercompany loan agreement – related parties

5,653

Transactions costs

(174)

Payment of lease liabilities

(2,318)

(2,392)

Net cash provided by (used in) financing activities

(33,310)

53,656

Effect of foreign exchange gain (loss) on cash equivalents

3,126

(14,423)

Decrease in cash and cash equivalents in the year

(39,704)

(2,666)

Cash and cash equivalents, beginning of year

45,918

48,584

^[1]

Cash and cash equivalents, end of year

6,214

45,918

Decrease in cash and cash equivalents in the year

$ (39,704)

$ (2,666)

[1]	Effective January 1, 2024, the Company changed its presentation currency from Canadian dollars to United States dollars. Refer to Note 2.4 “Presentation currency of the financial statements” for further details.

Consolidated Statements of Financial Position - USD ($)
$ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

^[1]

Current assets

Cash and cash equivalents

$ 6,214

$ 45,918

$ 48,584

Trade accounts receivable

1,392

11,584

22,400

Inventories

20,698

16,140

14,667

Advance to suppliers

3,400

9,727

5,327

Cash held as collateral

11,253

Accounts receivable from related parties

Prepaid expenses and other assets

608

3,034

3,304

Recoverable VAT and other taxes

5,684

6,368

13,339

Total current assets

49,249

92,771

107,631

Non-current assets

Judicial deposits

865

Loan and accounts receivable from related parties

18,542

12,953

9,928

Recoverable VAT and other taxes

2,658

1,312

Deferred income tax and social contribution

6,168

19,230

1,561

Cash held as collateral

12,686

11,519

Property, plant and equipment

161,366

141,025

180,856

Deferred exploration and evaluation expenditure

54,874

47,141

56,016

Total non-current assets

244,499

234,347

259,929

Total assets

293,748

327,118

367,560

Current liabilities

Suppliers

49,524

32,627

53,675

Loans and export prepayment

127,334

61,596

21,807

Lease liability

1,214

1,753

1,609

Prepayment from customer

5,062

1,514

1,625

Taxes payable

7,257

3,923

10,234

Payroll and related charges

2,288

1,959

1,907

Legal contingencies

155

Accounts payable to related parties

3,050

1,240

Other liabilities

4,742

4,004

1,459

Total current liabilities

200,471

108,771

92,316

Non-current liabilities

Loans and export prepayment

13,199

112,003

107,121

Lease liability

1,587

1,435

2,712

Taxes payable

3,713

3,174

104

Legal contingencies

5,420

3,271

Long term provisions

3,197

3,221

764

Accounts payable to related parties

5,653

Asset retirement obligations

3,878

2,903

2,893

Total non-current liabilities

36,647

126,007

113,594

Shareholders' equity

Share capital

328,620

326,832

291,215

Stock-based compensation reserve

19,167

18,485

44,488

Tax incentive reserve

2,671

2,500

Accumulated other comprehensive income (loss)

(16,661)

(28,495)

1,533

Accumulated losses

(277,167)

(226,982)

(175,586)

Total shareholders' equity

56,630

92,340

161,650

Total liabilities and shareholders' equity

$ 293,748

$ 327,118

$ 367,560

[1]	Effective January 1, 2024, the Company changed its presentation currency from Canadian dollars to United States dollars. Refer to Note 2.4 “Presentation currency of the financial statements” for further details.