LODE NYSE AM· Comstock Inc
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LODE NYSE AM· Comstock Inc
Earnings report Q3 2023

Comstock Inc. Reports Significant Increase in Revenue for Latest Quarter

Segments of revenue

Comstock Inc. reported revenue of $760,721 for the three-month period ended September 30, 2023, compared to $39,850 in the same period last year. This represents a substantial increase of $720,871 or 1,808%. The company experienced growth across all segments, indicating a strong performance in generating sales.


Comstock Inc.'s impressive revenue growth can be attributed to its commercially ready biorefining technologies. These technologies have enabled the company to offer growth-enabling performance to its prospective customers, resulting in increased sales. Management has emphasized their primary focus on commercialization for the year 2023, indicating a strategic approach to driving revenue growth.


Despite the significant increase in revenue, Comstock Inc. faced challenges in managing its operating expenses. Selling, general, and administrative expenses amounted to $3,140,080, representing an increase of $1,245,580 or 66% compared to the same period last year. Research and development expenses also increased by $64,520 or 5%. These higher expenses may impact the company's profitability and require careful cost management in the future.


It is worth noting that Comstock Inc. reported a gain on the sale of Daney Ranch, amounting to $1,055,623, during the previous year's quarter. However, no such gain was recorded in the latest quarter. Additionally, the company reported a gain on the sale of Facility, amounting to $7,126,377, which significantly impacted the total operating expenses. These extraordinary gains and losses should be considered when evaluating the company's overall performance.


Comstock Inc. demonstrated a remarkable performance in the latest quarter, with a substantial increase in revenue. The company's commercially ready biorefining technologies have played a crucial role in driving sales growth. However, the company needs to address the challenges posed by rising operating expenses to ensure sustained profitability. The absence of gains from the sale of certain assets in the latest quarter should also be taken into account. Overall, Comstock Inc. has shown promising results, but careful financial management will be essential for future success.

Source documents

Form 10-Q  filed on Oct 26, 2023
64 pages scanned

Reference data

Company financials Q3 revenue 760.7k
Analyst estimates Q3 EPS missed by -396.50%
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