Lifezone Metals Limited (LZM) Income Statement
LZM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLZM revenue and net income
Where LZM's revenue goes
2025Each bar shows an amount and its share of revenue. LZM kept −1,289.2% of revenue as net income.
LZM profit margins
LZM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +652.2% | −28.8% | −0.1% | — |
| Gross profit | −1,902.1% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LZM quarterly EPS vs estimates
Lifezone Metals beat the analyst EPS estimate in 5 of the last 8 quarters.
LZM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $1.1M | $140,522 | $1.5M | $2.9M | $2.1M | $1.1M |
| Cost of revenue | $2.0M | $86,872 | $753,973 | $1.5M | $442,818 | $0 |
| Gross profit | −$966,837 | $53,650 | $723,853 | $1.5M | $1.6M | $1.1M |
| Research & development | $127,135 | $157,607 | $90,978 | $92,545 | — | — |
| Sales, general & admin | $17.0M | $32.3M | $283.6M | $24.9M | $19.4M | $961,456 |
| Total operating expenses | $17.3M | $48.3M | $365.9M | $27.2M | $19.7M | $1.1M |
| Operating income | −$18.2M | −$48.3M | −$365.2M | −$25.7M | −$18.0M | −$495 |
| Interest income | $536,157 | $2.3M | $567,190 | $4.1M | $4,160 | $9,401 |
| Interest expense | $10.4M | $6.4M | $211,979 | $266,354 | $160,840 | $3,910 |
| Income before taxes | −$14.4M | −$46.6M | −$364.7M | −$25.5M | −$18.2M | $8,906 |
| Income taxes | −$263,493 | $540,126 | −$788,829 | −$1.4M | −$14,827 | $961 |
| Net income | −$13.6M | −$46.3M | −$363.9M | −$23.6M | −$18.0M | $8,906 |
| EBITDA | −$16.7M | −$37.5M | −$287.5M | −$25.0M | −$17.9M | $57,818 |
| EPS (diluted) | −$0.21 | −$0.22 | −$5.91 | −$0.03 | −$0.01 | — |
| Gross margin | −91.5% | 38.2% | 49.0% | 50.0% | 78.8% | 100.0% |
| Operating margin | −1,724.9% | −34,353.8% | −24,710.3% | −877.5% | −861.6% | −0.0% |
| Net margin | −1,289.2% | −32,952.3% | −24,622.3% | −805.6% | −860.3% | 0.8% |
| Jun '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $731,592 | $325,451 | $90,872 | $90,872 | $45,436 | $49,650 | $41,389 | $971,078 | $556,271 | $506,748 | $495,687 |
| Cost of revenue | $1.9M | $1.2M | $573,486 | $74,620 | $74,620 | $37,310 | $12,252 | $10,944 | $753,973 | $764,203 | −$237,733 | $445,755 |
| Gross profit | −$263,369 | −$420,142 | −$248,035 | $16,251 | $16,251 | $8,125 | $37,398 | $30,445 | $217,105 | −$207,932 | $506,748 | $49,932 |
| Research & development | $42,481 | $84,071 | $43,064 | $85,568 | $85,568 | $42,784 | $72,039 | $9,878 | $41,931 | $32,052 | $49,047 | — |
| Sales, general & admin | — | $15.7M | $6.4M | $25.1M | $25.1M | $12.5M | $7.9M | $3.6M | $278.4M | $270.2M | $5.2M | $7.6M |
| Total operating expenses | $9.4M | $10.3M | $7.4M | $38.7M | $38.7M | $19.4M | $9.6M | $4.2M | $352.6M | $270.2M | $13.3M | $7.6M |
| Operating income | −$9.6M | −$10.7M | −$7.9M | −$38.7M | −$38.7M | −$19.3M | −$9.6M | −$4.2M | −$352.4M | −$347.5M | −$12.8M | −$7.1M |
| Interest income | — | $5.8M | $9.7M | — | $1.7M | — | $904,429 | $457,209 | $209,712 | $87,678 | $139,606 | $2.6M |
| Interest expense | $5.5M | $5.5M | $4.9M | $3.1M | $450,610 | — | $96,141 | $96,141 | $58,974 | $58,974 | $95,996 | $47,998 |
| Income before taxes | −$7.0M | −$16.4M | $2.1M | −$35.7M | −$35.7M | −$17.8M | −$10.9M | −$3.8M | −$352.0M | −$347.5M | −$12.6M | −$7.0M |
| Income taxes | −$108,268 | −$82,677 | $180,816 | $540,126 | $540,126 | $270,063 | −$346,264 | $96,141 | $185,957 | $1.3M | −$1.3M | −$889,071 |
| Net income | −$6.9M | −$16.3M | $2.7M | −$35.6M | −$35.6M | −$17.8M | −$10.7M | −$3.8M | −$353.5M | −$348.7M | −$10.4M | −$6.0M |
| EBITDA | −$8.9M | −$9.9M | −$7.2M | −$29.7M | −$29.8M | −$14.9M | −$8.8M | −$3.3M | −$283.1M | −$346.7M | −$4.8M | −$7.1M |
| EPS (diluted) | — | — | −$0.12 | −$0.09 | — | −$0.09 | −$0.08 | −$0.05 | −$0.07 | −$5.78 | −$0.10 | $0.04 |
| Gross margin | −15.8% | −57.4% | −76.2% | 17.9% | 17.9% | 17.9% | 75.3% | 73.6% | 22.4% | −37.4% | 100.0% | 10.1% |
| Operating margin | −578.6% | −1,468.1% | −2,414.3% | −42,578.5% | −42,578.5% | −42,578.5% | −19,300.5% | −10,162.3% | −36,285.0% | −62,472.3% | −2,529.7% | −1,423.4% |
| Net margin | −411.5% | −2,232.6% | 831.3% | −39,182.3% | −39,182.3% | −39,182.3% | −21,549.8% | −9,289.9% | −36,399.9% | −62,694.2% | −2,053.0% | −1,217.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LZM's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LZM financial results
In fiscal year 2025 (ended December 31, 2025), Lifezone Metals reported revenue of $1.1 million, up 652.2% from the year before. It had a net loss of $13.6 million, a net profit margin of −1,289.2%. Diluted earnings per share came to −$0.21. Over five years revenue grew at an average rate of −0.1% a year.
See the LZM stock overview for the latest quote and news, or the LZM chart for price history and technical indicators.
LZM income statement FAQ
What is Lifezone Metals's annual revenue?
Lifezone Metals reported total revenue of $1.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 652.2% from $0.1 million the previous year.
Is Lifezone Metals profitable?
No. Lifezone Metals reported a net loss of $13.6 million in fiscal 2025, a net profit margin of −1,289.2%; its operating margin was −1,724.9%.
What is Lifezone Metals's gross margin?
Lifezone Metals's gross margin was −91.5% in fiscal 2025: for every $100 of revenue, Lifezone Metals kept $-91 after the direct cost of its products and services.
How much does Lifezone Metals spend on research and development?
Lifezone Metals spent $0.1 million on research and development in fiscal 2025, 12.0% of revenue.
How fast is Lifezone Metals growing?
Revenue grew −0.1% a year on average over the last five fiscal years, from $1.1 million to $1.1 million.
What are Lifezone Metals's earnings per share?
Lifezone Metals earned $-0.21 per diluted share in fiscal 2025, compared with $-0.22 a year earlier.
When does Lifezone Metals's fiscal year end?
Lifezone Metals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.