Largo Inc Financials
Largo Inc (LGO) reported $109.9M in revenue for fiscal year 2025, down 12.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Largo’s operating model shifted from cash-rich self-funding to debt-backed liquidity management as sales and cash generation weakened.
From FY2023 to FY2025, operating cash flow swung from$21.2M to-$10.2M , showing that reported losses eventually turned into real cash outflow rather than staying mostly non-cash. Because capital spending was still heavy and long-term debt reached$107.1M by FY2025, free cash flow stayed deeply negative and the company’s losses became a funding problem, not just an earnings problem.
The balance sheet now works very differently than it did in FY2023: cash fell from
Inventory stayed near
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Largo Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Largo Inc, and counted as zero in the overall score.
Not available for Largo Inc, and counted as zero in the overall score.
Largo Inc passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Largo Inc reported a net loss of $68.7M while operations used $10.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Largo Inc generated $109.9M in revenue in fiscal year 2025. This represents a decrease of 12.0% from the prior year.
Largo Inc reported -$68.7M in net income in fiscal year 2025. This represents a decrease of 35.9% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Largo Inc recorded an outflow of $37.7M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 21.2% from the prior year.
Largo Inc held $9.7M in cash against $107.1M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Largo Inc's net profit margin was -62.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 22.1 percentage points from the prior year.
Largo Inc's ROE was -50.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Largo Inc invested $27.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 35.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
LGO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Revenue | $109.9M-12.0% | $124.9M-37.1% | $198.7M-13.3% | $229.3M+15.6% | $198.3M+65.3% | $120.0M |
| Interest Expense | $2K-94.6% | $37K-28.8% | $52K-38.1% | $84K+42.4% | $59K | $0 |
| Income Tax | $17.1M+182.5% | -$20.7M-666.5% | -$2.7M-143.1% | $6.3M-31.8% | $9.2M+1055.1% | -$962K |
| Net Income | -$68.7M-35.9% | -$50.6M-56.3% | -$32.4M-1353.6% | -$2.2M-109.9% | $22.6M+233.8% | $6.8M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
LGO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $318.8M0.0% | $318.7M-16.5% | $381.6M+7.3% | $355.8M+13.3% | $313.9M+5.4% | $297.8M |
| Current Assets | $78.0M-16.3% | $93.3M-32.0% | $137.1M-11.0% | $154.1M-3.6% | $160.0M+16.5% | $137.3M |
| Cash & Equivalents | $9.7M-56.0% | $22.1M-48.2% | $42.7M-21.6% | $54.5M-35.0% | $83.8M+5.9% | $79.1M |
| Inventory | $49.5M+4.2% | $47.5M-22.8% | $61.6M-4.1% | $64.2M+41.7% | $45.3M+28.3% | $35.3M |
| Accounts Receivable | $11.1M+13.6% | $9.7M-61.9% | $25.6M+22.0% | $21.0M-11.4% | $23.7M+24.0% | $19.1M |
| Total Liabilities | $182.2M+23.6% | $147.4M+17.2% | $125.8M+55.0% | $81.2M+68.4% | $48.2M-4.8% | $50.6M |
| Current Liabilities | $153.9M+34.7% | $114.3M+169.1% | $42.5M+8.9% | $39.0M-6.5% | $41.7M-6.0% | $44.3M |
| Long-Term Debt | $107.1M | $0-100.0% | $925K-37.2% | $1.5M-25.9% | $2.0M | $0 |
| Total Equity | $136.5M-20.3% | $171.2M-33.1% | $255.8M-6.8% | $274.6M+3.3% | $265.7M+7.5% | $247.2M |
| Retained Earnings | -$187.3M-48.1% | -$126.5M-62.9% | -$77.6M-61.0% | -$48.2M+2.2% | -$49.3M+31.4% | -$71.9M |
Not reported in any period shown, so not listed: Goodwill.
LGO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.2M-191.6% | $11.2M-47.4% | $21.2M+512.6% | $3.5M-91.3% | $39.8M+166.8% | -$59.5M |
| Capital Expenditures | $27.4M-35.0% | $42.2M-21.1% | $53.5M+26.9% | $42.2M+54.0% | $27.4M+51.3% | $18.1M |
| Free Cash Flow | -$37.7M-21.2% | -$31.1M+4.0% | -$32.3M+16.5% | -$38.7M-412.9% | $12.4M+115.9% | -$77.6M |
| Investing Cash Flow | -$26.4M+37.4% | -$42.2M+32.9% | -$62.9M-4.6% | -$60.1M-119.5% | -$27.4M-51.3% | -$18.1M |
| Financing Cash Flow | $23.9M+98.4% | $12.0M-58.7% | $29.1M+10.2% | $26.4M+483.0% | -$6.9M-122.8% | $30.2M |
| Share Buybacks | N/A | N/A | N/A | $6.1M | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
LGO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Net Margin | -62.5%-22.1pp | -40.5%-24.2pp | -16.3%-15.3pp | -1.0%-12.3pp | 11.4%+5.8pp | 5.6% |
| Return on Equity | -50.3%-20.8pp | -29.5%-16.9pp | -12.7%-11.8pp | -0.8%-9.3pp | 8.5%+5.8pp | 2.7% |
| Return on Assets | -21.6%-5.7pp | -15.9%-7.4pp | -8.5%-7.8pp | -0.6%-7.8pp | 7.2%+4.9pp | 2.3% |
| Current Ratio | 0.51-0.3x | 0.82-2.4x | 3.23-0.7x | 3.96+0.1x | 3.84+0.7x | 3.10 |
| Debt-to-Equity | 0.78+0.8x | 0.000.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.00 |
| FCF Margin | -34.3%-9.4pp | -24.9%-8.6pp | -16.3%+0.6pp | -16.9%-23.1pp | 6.2%+70.9pp | -64.7% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Note: The current ratio is below 1.0 (0.51), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Largo Inc Ranks
Frequently Asked Questions
What is Largo Inc's annual revenue?
Largo Inc (LGO) reported $109.9M in total revenue for fiscal year 2025. This represents a -12.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Largo Inc's revenue growing?
Largo Inc (LGO) revenue declined by 12.0% year-over-year, from $124.9M to $109.9M in fiscal year 2025.
Is Largo Inc profitable?
No, Largo Inc (LGO) reported a net income of -$68.7M in fiscal year 2025, with a net profit margin of -62.5%.
How much debt does Largo Inc have?
As of fiscal year 2025, Largo Inc (LGO) had $9.7M in cash and equivalents against $107.1M in long-term debt.
What is Largo Inc's net profit margin?
Largo Inc (LGO) had a net profit margin of -62.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Largo Inc's return on equity (ROE)?
Largo Inc (LGO) has a return on equity of -50.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Largo Inc's free cash flow?
Largo Inc (LGO) recorded an outflow of $37.7M in free cash flow during fiscal year 2025. This represents a -21.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Largo Inc's operating cash flow?
Largo Inc (LGO) recorded an outflow of $10.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Largo Inc's total assets?
Largo Inc (LGO) had $318.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Largo Inc's capital expenditures?
Largo Inc (LGO) invested $27.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Largo Inc's current ratio?
Largo Inc (LGO) had a current ratio of 0.51 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Largo Inc's debt-to-equity ratio?
Largo Inc (LGO) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Largo Inc's return on assets (ROA)?
Largo Inc (LGO) had a return on assets of -21.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Largo Inc's cash runway?
Based on fiscal year 2025 data, Largo Inc (LGO) had $9.7M in cash against an annual operating cash burn of $10.2M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Largo Inc's Piotroski F-Score?
Largo Inc (LGO) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Largo Inc's earnings high quality?
Largo Inc (LGO) reported a net loss of $68.7M while operations used $10.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Largo Inc?
Largo Inc (LGO) scores 19 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.