SGML · Sigma Lithium Corporation

Sigma Lithium delivered record profitability in Q1 2026, driven by $42.3 million in net sales revenue from 23.6 thousand tonnes of lithium oxide concentrate at a realized price of $1,790 per tonne SC5, up significantly from prior quarters amid recovering lithium prices. Gross margin expanded to 61% from robust pricing and controlled costs of goods sold at $16.8 million, while operating income reached $13.8 million after sales, G&A, and other expenses. Net income of $11.1 million reflected financial income and tax provisions, marking the highest margins in company history with 39% Adjusted EBITDA and 26% net margin. Management highlighted the successful completion of mining operations restructuring, including fleet upgrades and in-house operations, enabling a controlled restart and positioning for 240 kt annualized Phase 1 production. The Greentech Industrial Plant transitioned from maintenance, processing fresh ore and achieving key readiness milestones ahead of schedule. Debt deleveraging continued, with total debt down 21% year-over-year to $134 million via repayment of high-cost export lines. Balance sheet showed negative working capital of $144.5 million, but cash rose to $28 million by May 15 post-receivables collection. Phase 2 progress targets construction start in 2026, supported by licensing approvals for Barreiro mine and second plant. ESG highlights include zero TRIFR, 968 days LTI-free, and sustainable processes with 100% renewable energy and water recycling. Guidance affirms Phase 1 ramp-up and expansions to 520 kt by Phase 2 and 770 kt by Phase 3, with all-in sustaining costs at $710/tonne for Phase 1.