Segment Information

9 Months Ended

Sep. 30, 2025

Segment Information

Segment Information

9. Segment Information

The Company has one reportable segment: Australia. The Australia segment conducts exploration, development, and care and maintenance activities at Vista’s principal asset, the Mt Todd gold project in Northern Territory, Australia. This segment does not presently report any revenues from operations. Through the Australia segment, the Company seeks to position Mt Todd as a development opportunity within the gold sector. The Company’s chief operating decision maker is the Chief Executive Officer (“CODM”). The CODM uses consolidated net income/loss as the measure of segment profit and loss to assess performance and allocate resources.

We reported no revenues during the three and nine months ended September 30, 2025 and 2024. The geographic location of mineral properties and plant and equipment is provided in Notes 3 and 4, respectively.

The following table reports segment results during the three and nine months ended September 30, 2025 and 2024:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Australia segment operating income (expense):
Employee compensation	$	(514)	$	(500)	$	(1,614)	$	(1,324)
2025 feasibility study and related costs		(398)		—		(1,987)		—
Drilling and related costs		—		(646)		(24)		(1,516)
Capitalized development costs		—		475		150		1,503
Project programs		—		(96)		(181)		(279)
Site holding		(123)		(176)		(380)		(355)
Administrative		(127)		(90)		(305)		(273)
Consulting & contract services		(34)		(24)		(98)		(102)
Power		(41)		(24)		(120)		(116)
Depreciation and amortization		(22)		(14)		(67)		(40)
Australia segment operating income (loss)		(1,259)		(1,095)		(4,626)		(2,502)
Reconciliation to operating income (loss)
Corporate administration		(846)		(738)		(2,822)		(2,773)
Gain on grant of royalty interest in mineral titles		—		—		—		16,909
Gain on sale of plant and equipment		—		—		—		802
Total operating income (expense), net		(2,105)		(1,833)		(7,448)		12,436
Non-operating income:
Interest income		134		230		443		496
Other income (expense)		1,248		(35)		1,218		(10)
Total non-operating income		1,382		195		1,661		486
Net income (loss)	$	(723)	$	(1,638)	$	(5,787)	$	12,922
Australia segment expenditures: mineral property and capital assets	$	336	$	553	$	536	$	1,663
					At September 30, 2025		At December 31, 2024
Australia segment long-lived assets					$	1,871	$	1,402