AREC · XBRL financial data

American Resources financial statements, every fiscal year

The same tables from 10 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (AREC's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	1,060	7,755	39,474	16,744	383	0
Cost of revenue	3,750	7,089	21,688	—	—	—
General and administrative	2,487	3,884	4,020	7,014	21,024	9,558
Total operating expenses	(17,507)	36,089	63,472	28,166	32,614	11,309
Other operating income (expense)	—	—	317	423	—	—
Operating income (loss)	(16,447)	(28,333)	(23,997)	(11,422)	(32,231)	(11,309)
Interest expense	3,383	4,160	1,426	1,337	8,021	—
Other income (expense)	—	—	18,042	(33)	221	(62)
Income tax expense (benefit)	—	—	—	—	0	0
Net income (loss)	(10,256)	(32,504)	(1,446)	11,455	(39,251)	55,385
Earnings per share, diluted USD per share	—	—	—	(0.51)	(0.51)	0.63
Weighted average shares, basic thousands of shares	—	—	66,778	75,422	—	—
Weighted average shares, diluted thousands of shares	—	—	—	75,144	77,223	87,274

Fiscal years (AREC's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	11,201	12,588	10,991	1,319	604	31,702
Short-term investments	—	—	0	30,297	587	40,470
Accounts receivable	39	3,176	661	0	—	—
Inventory	151	0	447	54	960	—
Prepaid and other current assets	—	—	787	1,868	1,146	2,635
Total current assets	11,216	15,298	10,763	34,885	11,325	134,265
Property and equipment, net	22,499	22,903	9,114	15,337	18,296	143
Right-of-use asset	0	726	13,034	545	712	459
Total assets	38,415	42,873	55,916	91,746	205,872	168,908
Accounts payable	—	3,246	4,916	4,431	9,014	—
Accrued liabilities	1,044	1,325	107	513	607	391
Current portion of long-term debt	10,998	5,284	1,918	2,140	2,077	—
Total current liabilities	23,261	16,535	27,437	18,071	84,803	61,210
Long-term debt	—	—	—	—	0	965
Lease liability, non-current	—	562	548	496	677	453
Total liabilities	58,421	45,128	55,632	91,522	286,924	75,719
Accumulated deficit	(133,289)	(165,794)	(167,239)	(178,694)	(265,905)	(210,359)
Total stockholders' equity	(20,006)	(2,345)	285	224	(79,490)	94,777
Total liabilities and equity	38,415	42,873	55,916	91,746	205,872	168,908
Common shares outstanding (cover page) thousands of shares	50,804	65,742	78,213	79,180	80,513	106,971

Fiscal years (AREC's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(10,256)	(32,504)	(1,446)	11,455	(39,251)	55,385
Stock-based compensation	—	—	—	3,767	3,725	9,235
Net cash from operating activities	(13,847)	(29,092)	6,075	(14,515)	(21,243)	—
Purchases of property and equipment	—	—	—	3,617	1,059	—
Net cash from investing activities	418	(5,919)	(7,641)	(28,833)	(125,400)	—
Proceeds from issuing common stock	—	—	—	—	0	68,124
Proceeds from issuing equity	0	(5,649)	0	—	—	—
Proceeds from long-term debt	28	0	2,563	—	—	—
Repayments of long-term debt	2,587	562	2,215	1,113	—	—
Net cash from financing activities	24,362	36,398	(32)	37,387	145,679	—
Net change in cash	10,932	1,387	(1,597)	—	—	—

SIC 1220 and related industry codes, similar size; rows marked “added: same SIC” fill a short list. Each row is the latest quarter reported.

How peers are chosen

SIC 1220 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Fewer than three companies fall in that range, so the list adds same-SIC (1220) companies nearest in public float, each marked “added: same SIC”.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
American Resources	31,702	(45)*	not reported	107.0M	—	Q4 FY25 10-KDec 31, 2025
Coronado Global Resources	97,686	514,129	(25,951)*	167.6M	3.8 quarters	Q2 FY25 10-QJun 30, 2026
Nacco Industries	45,523	72,310	8,299*	not reported	—	Q2 FY26 10-QJun 30, 2026
Ramaco Resourcesadded: same SIC	232,954	150,089	(11,972)*	not reported	20.3 quarters	Q3 FY26 10-QSep 30, 2026
Warrior Met Coaladded: same SIC	302,346	not reported	132,277*	52.8M	—	Q2 FY26 10-QJun 30, 2026
Core Natural Resourcesadded: same SIC	473,204	1,141,014	250,447*	49.6M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.