Intrepid Potash, Inc.

Listed Company

IPICIK 0001421461NYSEAcceleratedMining & Quarrying Of Nonmetallic Minerals (No Fuels)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$11.19M

Total Assets

$632.18M

Equity

$491.43M

Shares Out

13.41M

Op. Cash Flow

$55.78M

Business

Intrepid Potash, Inc. is a diversified mineral company that produces and sells potash, langbeinite-based specialty fertilizer, water, and related byproducts for agricultural, animal feed, industrial, and oilfield customers. Its main products include muriate of potash, Trio® (potassium-magnesium-sulfur specialty fertilizer), salt, magnesium chloride, brines, and commercial water and oilfield services. The company operates solution mining facilities for potash, a conventional underground mine for Trio®, and an oilfield-focused property (Intrepid South) offering water, brine and land-based services. It primarily sells domestically across the central and western U.S. through distributors, cooperatives, dealers, direct sales, spot contracts and multi-year water agreements, with select international Trio® sales.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	298	255	279	—	—
Lower of cost or net realizable value inventory adjustments	4	4	7	0	0
Gross Margin	55	29	37	141	56
Selling and administrative	37	33	32	32	24
Accretion of asset retirement obligation	3	2	2	2	2
Impairment of long-lived assets	2	11	43	0	0
(Gain) loss on sale or disposal of assets	−1	2	807,000	7	−3
Other operating income	−5	−5	−1	−1	—
Other operating expense	9	6	3	—	—
Operating Income (Loss)	11	−20	−44	95	32
Equity in loss of unconsolidated entities	−374,000	−299,000	−486,000	689,000	0
Interest expense, net	−232,000	−112,000	0	−101,000	−1
Interest income	2	2	298,000	176,000	0
Other (expense) income	−762,000	45,000	95,000	305,000	48,000
Income (Loss) Before Income Taxes	12	−19	−44	97	41
Income Tax (Expense) Benefit	−544,000	−194	8	−24	209
Net Income (Loss)	11	−213	−36	—	—
Basic (in shares)	13	13	13	13	13
Diluted (in shares)	13	13	13	13	13
Basic (dollar per share)	0.86	−16.53	−2.8	5.49	19.07
Diluted (dollar per share)	0.85	−16.53	−2.8	5.37	18.66

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	84	41	4	19	36
Short-term investments	0	989,000	3	6	0
Trade, net	34	22	22	27	35
Other receivables, net	159,000	763,000	1	790,000	989,000
Inventory, net	112	113	114	115	79
Other current assets	5	5	7	5	5
Total current assets	235	184	152	172	157
Property, plant, equipment, and mineral properties, net	335	344	358	376	341
Water rights	19	19	19	19	19
Long-term parts inventory, net	32	34	30	25	29
Long-Term Investments	179,000	4	7	10	5
Other assets, net	11	10	8	7	7
Total Assets	632	595	769	794	767
Accounts payable	10	9	13	19	9
Accrued liabilities	11	9	14	16	23
Accrued employee compensation and benefits	13	10	7	7	7
Other current liabilities	21	10	12	7	35
Total current liabilities	54	38	47	49	73
Asset retirement obligation	39	32	30	27	27
Operating lease liabilities	2	780,000	741,000	2	2
Finance lease liabilities	2	2	1	0	—
Deferred other income, long-term	43	45	0	—	—
Other non-current liabilities	2	2	1	1	1
Total Liabilities	141	120	84	79	103
Commitments and Contingencies	—	—	—	—	—
Common stock, $0.001 par value; 40,000,000 shares authorized; and 13,131,663 and 12,908,078 shares outstanding at December 31, 2025, and 2024, respectively	14,000	14,000	13,000	13,000	13,000
Additional paid-in capital	674	668	666	661	659
Accumulated deficit	−161	−172	41	76	4
Less treasury stock, at cost	−22	−22	−22	−22	0
Total Stockholders' Equity	491	474	684	715	663
Total Liabilities and Stockholders' Equity	632	595	769	794	767

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion, and amortization	40	37	39	35	36
Amortization of intangible assets	300,000	300,000	300,000	300,000	300,000
Amortization of deferred financing costs	301,000	301,000	301,000	265,000	314,000
Stock-based compensation	5	4	7	6	3
Reserve for obsolescence	2	2	500,000	2	2
Allowance for doubtful accounts	62,000	120,000	110,000	0	0
Loss on equity investment	888,000	266,000	0	0	—
Distribution of earnings from unconsolidated entities	0	0	452,000	0	0
Trade accounts receivable, net	−11	−508,000	5	9	−13
Other receivables, net	593,000	642,000	−701,000	140,000	589,000
Inventory, net	−4	−11	−12	−33	7
Other current assets	−2	−362,000	−4	191,000	−2
Deferred tax assets, net	0	194	−8	23	−209
Accounts payable, accrued liabilities and accrued employee compensation and benefits	5	−4	−4	−4	13
Operating lease liabilities	−1	−1	−2	−2	−3
Deferred other income	−2	43	5	0	—
Other liabilities	3	1	−826,000	−29	3
Net cash provided by operating activities	56	72	43	89	79
Additions to property, plant, equipment, mineral properties and other assets	−30	−39	−65	−69	−20
Deposit received	8	0	0	—	—
Additions to intangible Assets	0	−200,000	0	0	0
Proceeds from sale of property, plant, equipment, and mineral properties	6	5	125,000	58,000	6
Purchase of investments	0	0	−1	−13	−1
Proceeds from redemptions/maturities of investments	1	3	6	3	0
Other investing, net	2	2	796,000	0	0
Net cash used in investing activities	−13	−30	−60	−79	−15
Proceeds from borrowings on credit facility	0	0	9	0	0
Repayments of borrowings on credit facility	0	−4	−5	0	−30
Payments of financing leases	−1	−942,000	−597,000	0	−1
Employee tax withholding paid for restricted stock upon vesting	−1	−775,000	−2	−5	−791,000
Proceeds from exercise of stock options	2	0	0	110,000	89,000
Net cash (used in) provided by financing activities	−276,000	−6	2	−28	−47
Net Change in Cash, Cash Equivalents, and Restricted Cash	42	37	−14	−18	17
Interest	463,000	503,000	411,000	113,000	875,000
Income taxes	487,000	9,000	179,000	1	193,000
Accrued purchases for property, plant, equipment, mineral properties, and development costs	2	2	5	9	2

Filings

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