HYCROFT MINING HOLDING CORPHYMC

HYCROFT MINING HOLDING CORP Segments Disclosure

10-KFiled Mar 3, 20261 min read
Segment information
In accordance with FASB’s Accounting Standards Codification Topic 280, Segment Reporting, the Company has determined that it operates as a single reportable segment. Since the Company discontinued mining operations in November 2021 and has focused on exploration, the Company’s operations are limited and managed by one chief operating decision-maker (“CODM”). The CODM, who has been identified as the Company’s Chief Executive Officer, is responsible for all decisions regarding resource allocation and performance evaluation, which are made on a consolidated basis. Therefore, the Company has concluded that it has one operating and reportable segment. The CODM evaluates exploration and development costs and mine site costs (collectively, “Segment Expenses” utilizing the following expense groupings (in thousands).
Year Ended December 31,
2025
2024
Exploration$8,761 $10,639 
Technical and projects1,499 1,846 
Mine maintenance1,603 1,827 
Processing maintenance2,281 1,796 
Crofoot royalty settlement and sulphur rights 4,000 — 
Site-level general and administrative(1)
11,363 13,304 
Segment expenses$29,507 $29,412 
(1)A portion of mine site general and administrative expenses are allocated to exploration for financial reporting.

The following table reconciles total Segment expenses to the amounts presented in the consolidated statements of operations:
Year Ended December 31,
2025
2024
Exploration and development costs$14,856 $19,526 
Mine site costs14,651 9,886 
Segment expenses$29,507 $29,412 

Historical Timeline

Fiscal YearFiled
2025Mar 3, 2026Showing above
2024Mar 5, 2025
2023Mar 14, 2024
2022Mar 28, 2023
2021Mar 31, 2022
2020Mar 24, 2021

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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