Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s reportable segments are comprised of operating units that have losses or assets exceeding 10% of the respective consolidated totals and are consistent with the Company’s management reporting structure. The Hycroft Mine is our only operating segment and includes the mine site, exploration, and development activities. Direct support costs account for 100% of the segment’s Operating expenses. Corporate and Other includes corporate General and administrative costs.

Segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the Chief Executive Officer. The CODM evaluates segment cash and working capital positions. Total assets are not included in this presentation as they are not a focus of the CODM’s assessment at this point in the Company’s business life cycle.

The tables below summarize the Company’s segment information (in thousands):

	Three Months Ended March 31, 2025
	Hycroft Mine		Corporate and Other		Total
Operating costs	$	5,410	$	2,934	$	8,344
Depreciation, amortization, and inventory adjustments	545		—		545
Asset retirement obligation adjustments and accretion expense	333		—		333
Loss from operations	(6,288)		(2,934)		(9,222)
Interest income	243		470		713
Other income	—		137		137
Interest expense	(9)		(3,378)		(3,387)
Net loss	$	(6,054)	$	(5,705)	$	(11,759)
	Three Months Ended March 31, 2024
	Hycroft Mine		Corporate and Other		Total
Operating costs	$	6,176	$	2,913	$	9,089
Depreciation, amortization, and inventory adjustments	616		—		616
Asset retirement obligation adjustments and accretion expense	2,223		—		2,223
Loss from operations	(9,015)		(2,913)		(11,928)
Interest income	455		843		1,298
Interest expense	(1)		(10,118)		(10,119)
Net loss	$	(8,561)	$	(12,188)	$	(20,749)