Kuya Silver (KUYA) Q1 2026 earnings summary

Executive summary

• Cash position strengthened to $27.2 million as of March 31, 2026, supported by a private placement, warrant exercises, and operational revenue.

• Q1 2026 revenue rose to $1.46 million, up from $0.23 million in Q1 2025 and $0.31 million in Q4 2025, driven by increased mining activity at Bethania.

• Net loss improved to $1.24 million in Q1 2026 from $1.35 million in Q1 2025; Q4 2025 net loss was $0.43 million, aided by a one-time VAT recovery.

• Strategic focus on ramping up Bethania mine production and expanding exploration and development initiatives.

Financial highlights

• Revenue for Q1 2026: $1.46 million, up significantly year-over-year and sequentially.

• Net loss for Q1 2026: $1.24 million, improved from $1.35 million in Q1 2025.

• Total assets as of March 31, 2026: $53.97 million, up from $36.14 million at year-end 2025.

• Exploration and evaluation expenditures decreased to $0.40 million from $0.88 million in Q1 2025.

• Loss per share (basic and diluted) remained at $0.01 year-over-year.

Outlook and guidance

• 2026 production targeted at 150,000–200,000 silver equivalent ounces, with output weighted to Q4 as underground development advances.

• Capital expenditures expected to rise in H2 2026 as Bethania infrastructure and ramp-up progress.

• Exploration program to combine underground and surface drilling, focusing on expanding mineralized structures and future mine planning.