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GRO

Brazil Potash Corp.

GRO

Brazil Potash Corp. • NYSE
$2.49 ▲ 4.62% (+0.11)
Market Cap $100.17 M
52w High $14.67
52w Low $1.25
Dividend Yield 0%
P/E -1.64
Volume 389.77K
Outstanding Shares 40.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $11.985M ▼ $-11.937M ▲ 0% $-0.29 ▲ $-11.906M ▲
Q2-2025 $0 $14.54M ▼ $-14.833M ▲ 0% $-0.39 ▲ $-14.398M ▲
Q1-2025 $0 $18.661M ▼ $-18.401M ▲ 0% $-0.48 ▲ $-18.664M ▲
Q4-2024 $0 $21.728M ▲ $-21.435M ▼ 0% $-0.78 ▼ $-21.759M ▼
Q3-2024 $0 $12.183M $-12.213M 0% $-0.32 $-12.17M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $12.991M ▲ $211.007M ▲ $6.388M ▲ $204.619M ▲
Q2-2025 $8.546M ▼ $146.055M ▲ $6.028M ▲ $140.027M ▲
Q1-2025 $13.73M ▼ $143.693M ▲ $5.697M ▲ $137.996M ▲
Q4-2024 $18.861M ▲ $141.055M ▲ $5.635M ▼ $135.42M ▲
Q3-2024 $1.251M $126.071M $7.118M $118.953M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-11.937M ▲ $-3.155M ▼ $-1.996M ▲ $5.918M ▲ $790.571K ▲ $-5.232M ▲
Q2-2025 $-14.833M ▲ $-1.401M ▲ $-3.752M ▼ $-40.013K ▼ $-5.184M ▲ $-5.284M ▲
Q1-2025 $-18.401M ▲ $-5.899M ▲ $-1.528M ▼ $20.122K ▼ $-7.315M ▼ $-5.899M ▲
Q4-2024 $-21.435M ▼ $-10.48M ▼ $-422.588K ▲ $28.592M ▲ $17.61M ▲ $-10.906M ▼
Q3-2024 $-12.213M $314.553K $-1.564M $877.5K $-369.956K $-1.254M

Five-Year Company Overview

Income Statement

Income Statement The income statement shows a pure development-stage company: no revenue yet and recurring losses each year. Spending is mainly on building and advancing the project rather than running an operating mine. Losses have been relatively small in absolute terms, but they are consistent, which is normal for a pre-production mining business. The key risk is that there is still no operating income engine; everything depends on successfully moving from project stage to commercial production in the future.

Balance Sheet

Balance Sheet The balance sheet is very light, with modest assets and no financial debt so far. Funding has come almost entirely from equity, which avoids interest pressure but leaves the company reliant on raising new capital from investors or partners. Cash is present but limited, and well below what would be needed to construct a large potash mine and processing facility. Most of the economic value sits in the project potential, permits, and future capacity rather than in current tangible assets. This makes the company highly sensitive to financing conditions, project approvals, and market confidence.

Cash Flow

Cash Flow Cash flows are steadily negative, reflecting ongoing development spending and corporate costs without any offsetting revenue. Operating cash burn has been modest but persistent, showing that the company is conserving cash but still consuming it every year. There is effectively no investing cash outlay yet for full-scale construction, which means the largest cash needs are still ahead. The stated “going concern” warning underlines that future progress depends heavily on securing substantial external financing on workable terms.

Competitive Edge

Competitive Edge On paper, the competitive position is attractive: a large domestic market that currently imports most of its potash, a location close to river transport, and a major cost advantage from shorter logistics. Being inside Brazil reduces dependence on politically sensitive supply from places like Russia and Belarus, which is strategically important for farmers and the government. The project also leans into sustainability and supply security themes, which can strengthen relationships with customers and policymakers. However, the competitive moat only truly exists if the mine is successfully built and operates as planned; until then, global incumbents remain the default suppliers. Regulatory, environmental, and community approvals in the Amazon region are also key uncertainties that could affect timing and cost.

Innovation and R&D

Innovation and R&D Innovation here is less about lab research and more about how the mine is designed and run. The company plans to use underground “room and pillar” techniques, on-site hot leach processing, and backfilling of salt byproduct to reduce surface impact and waste. Its model relies on a lower carbon footprint through renewable-heavy Brazilian power and far shorter shipping distances than imported potash. A strong ESG narrative—reusing previously deforested land, community consultation, and circular handling of waste—could be a real differentiator with governments, customers, and capital providers. Future upside may come from expanding the resource base, adopting automation and data-driven mining, and potentially adding more specialized fertilizer products over time.

Summary

Brazil Potash is a classic high-potential, high-uncertainty, pre-revenue resource story. Financials today are simple: no revenue, modest but steady losses, a thin asset base, no debt, and ongoing cash burn that requires fresh funding and justifies the going-concern flag. The real value proposition sits in the Autazes project: a strategically located potash asset that could meaningfully reduce Brazil’s dependence on imports, cut logistics costs, and appeal to ESG-focused stakeholders. If executed well, the combination of location, logistics, and sustainability could give the company a durable edge in supplying Brazilian agriculture. At the same time, investors face substantial execution, permitting, social, environmental, and financing risks, with the most capital-intensive phase of the project still ahead. Monitoring approvals, construction milestones, cost control, offtake agreements, and financing terms will be central to assessing how the story evolves from concept to operating business.

NEWS

November 3, 2025 · 8:00 AM UTC

Brazil Potash Mandates BTIG to Lead Project-Level Equity Financing for Construction, with a Goal to Minimize Dilution to Shareholders

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October 21, 2025 · 8:00 AM UTC

Spark Energy Minerals Strengthens Leadership with Appointment of Dr. Fernando Tallarico as CEO and Chairman

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October 17, 2025 · 9:05 AM UTC

Brazil Potash Announces $28 Million Private Placement

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