Operator
Good day, ladies and gentlemen. Welcome to IMPACT Silver’s Q1 2026 period ending March 31, 2026, Financial and Production Results Conference Call. Before we begin, we would like to go over our disclosure statements, followed by Mr. Fred Davidson’s comments on the quarter results and the Q&A period. Certain statements in the following conference call regarding IMPACT Silver’s core business operations may constitute forward-looking statements. Such statements are not historical facts, but are predictions about the future, which inherently involves risks, uncertainties and could cause actual results to differ materially from those in the forward-looking statements. I would like to now turn it over to the President and CEO of IMPACT Silver, Mr. Fred Davidson.
Frederick Davidson
President, CEO & Director
Thank you, Jerry. It’s certainly a pleasant experience to be able to report this particular quarter. It’s probably the most successful quarter we’ve had in the 20-year history of the mine. Basically, revenue increased to over $31 million. It’s just about 3x what the comparable quarter was, and it was driven by a number of issues, and it was silver prices, we had higher grades, and we had increased throughput at the Zacualpan silver operation.
Gross profit grew almost again, 10x to $20 million compared to $2.2 million in the comparable quarter. Net income was $11.3 million or $0.03 a share, basically following a loss of about $0.1 million in Q1 2025. And at the end of the quarter, the company had $45 million in cash, $4 million in guaranteed investment certificates and working capital of $48 million with no outstanding long-term debt. It’s the kind of quarter we’ve been looking for, for a long time, and it’s only the start of where we are right at the moment.
