Idaho Strategic Resources, Inc.IDR

Idaho Strategic Resources reported record first quarter results for 2026, with revenue of $14.5 million, a 98.97% increase year over year, and net income of $6.4 million. The company highlighted a 98.97% increase in revenue to $14,482,286 and record quarterly net income of $6,387,992 in its press release dated May 14, 2026. Operating income stood at $7.6 million, and operating cash flow was $8.8 million, indicating strong cash generation from core business activities.

IDR is a gold mining and exploration company operating in Idaho, with a focus on producing gold while reinvesting in near-mine exploration and capital projects. The company maintains a low debt profile, with liabilities of just $6.6 million against assets of $126.0 million, and stockholders' equity of $116.7 million. This financial structure suggests a conservative approach to leverage, though the company continues to fund growth through a mix of operating cash flow and occasional equity offerings.

Key financial figures from the 10-Q for the period ending March 31, 2026, include earnings per diluted share of $0.40 on 16.0 million diluted shares, inventory of $1.2 million, and capital expenditures of $2.8 million for property, plant, and equipment. The company's net cash from operations of $8.8 million comfortably covered its capex, leaving free cash flow of approximately $6.0 million before any working capital changes.

The SEC EDGAR filing index shows a series of 8-K filings in May and June 2026, including announcements of record results and a Form 144 filing on June 3, 2026, indicating potential insider selling. A Form 4 filing on May 22, 2026, also details insider transactions. These filings are accessible via the SEC's EDGAR system and provide the primary source of financial and governance data for the company.

What changed in the quarter is the scale of revenue and profit, but the company's reliance on equity markets for capital remains a factor to monitor. The evidence does not include guidance for future quarters, so the sustainability of this growth rate is unproven. A deeper file would benefit from detailed mine production data, reserve updates, and any hedging or forward sales contracts that could affect future revenue.