11:57 AM EDT, 08/15/2025 (MT Newswires) -- (Adds comment and updates shares.)

Sigma Lithium ( SGML ) on Friday reported a wider second-quarter loss as revenue dropped 62% due to a deliberate strategy to withhold product during intense price volatility.

The company lost US$18.9 million, or US$0.17 per share, compared with a loss of US$10.8 million, or US$0.10, in the year-prior quarter.

Revenue came in at US$21.1 million, down from US$56.3 million. Adjusted EBITDA swung to a loss of US$17.1 million from a positive US$10.6 million.

The company produced 68,368 tonnes, an increase from 49,389 tonnes and slightly higher than the quarter production target of 67,500 tonnes. The company expects full-year 2025 production of 270,000 tonnes.

"Our second-quarter performance highlights the strength of Sigma Lithium's ( SGML ) low-cost, large-scale operations and disciplined commercial strategy. We managed to further decrease our costs consolidating our operational resilience. We maintained production cadence at 68kt and are comfortably on track to deliver on our annual production target of 270kt while preserving pricing power in a volatile market," chief executive Ana Cabral said.

Cost of sales fell 20% to US$23.6 million. All-in sustaining cost was down 4% to an average of US$594 per tonne, remaining below the full-year target of US$660 per tonne.

Sigma shares were last seen up $1.76 to $9.46 on the TSX Venture Exchange.

Price: 9.50, Change: +1.80, Percent Change: +23.38