Comstock
Coordinates solar-panel decommissioning and recycles retired panels into recovered materials.
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Profile
Provides utility-scale solar-panel decommissioning and recycling services, earning fees for handling panels and sales of recovered materials. Its listed parent is centered on a Nevada recycling buildout, while Bioleum and other assets sit in separately governed or strategic investments.
Operates through Comstock Metals, coordinating panel removal, transport, packaging, storage, destruction, and recycling for utility-scale solar owners, manufacturers, engineering and construction firms, and recycling aggregators. It earns decommissioning and recycling fees and sells recovered aluminum, copper, glass, and silver-bearing concentrates.
Works primarily in Nevada and the U.S. Southwest, with a potential later location in Ohio. The first industry-scale Silver Springs line remained in commissioning in July, and further lines depend on its effective ramp-up. Bioleum and other holdings are strategic investments, while the sale of legacy mining entities remained subject to regulatory clearance.
Company facts
Key statistics
Year to date −12.7% · Average volume (30d) 1.3M
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | −$0.12 | −$0.34 | −183.3% | $1.4M | $272.8K | −80.2% | −22.68% |
| May 7, 2026Q1 FY26 | −$0.18 | −$0.14 | +22.2% | $443.6K | $313.5K | −29.3% | −10.91% |
| Mar 24, 2026Q4 FY25 | −$0.18 | −$0.24 | −33.3% | $323.1K | $374.0K | +15.7% | +15.47% |
| Oct 30, 2025Q3 FY25 | −$0.18 | −$0.21 | −16.7% | $102.2K | $54.1K | −47.1% | −1.90% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $785.8K | $339.5K | $54.1K | $374.4K | $313.5K | $272.8K | |
| Gross profit | −$599.1K | −$1.1M | −$1.6M | −$1.9M | −$1.7M | −$896.1K | |
| Operating income | −$7.0M | −$7.9M | −$9.8M | −$13.2M | −$10.3M | −$26.9M | |
| Net income | −$9.1M | −$7.8M | −$12.9M | −$13.3M | −$9.4M | −$25.5M | |
| Diluted EPS | −$0.40 | −$0.27 | −$0.31 | −$0.26 | −$0.14 | −$0.34 | |
| Gross margin | -76.2% | -327.2% | -2,885.2% | -506.3% | -535.2% | -328.4% | |
| Operating margin | -895.7% | -2,316.9% | -18,070.6% | -3,533.6% | -3,299.6% | -9,872.8% |
Fiscal years (4-quarter sums)FY24 $3.0M · FY25 $1.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $31.4M · Total debt $32.8M · Total assets $193.5M · Shareholders' equity $137.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 37.00M · Float 36.07M · 97.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Hood River Capital Management LLC | 6.28M | 8.48% | 13G | May 15, 2026 |
| Mak Capital One LLC | 5.76M | 15.58% | 13F | May 15, 2026 |
| BlackRock, Inc. | 4.23M | 5.60% | 13G | Jul 27, 2026 |
| Vanguard Capital Management LLC | 2.96M | 8.00% | 13F | May 15, 2026 |
| Susquehanna International Group, LLP | 2.01M | 5.45% | 13F | May 15, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Envela
U.S. PV recycling and logistics for utility-scale solar assets.
- First Solar
Utility-scale module collection and recycling, principally for CdTe panels.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Comstock | $3.36 | −1.09% | $125.8M | — | 13.6 | 124.0 | −19.7% |
| Envela | $13.79 | −0.65% | $358.0M | 16.0 | 25.5 | 1.2 | +3.5% |
| First Solar | $205.40 | +0.47% | $21.97B | 12.6 | 9.7 | 4.1 | −3.7% |
| Median | 14.3 | 17.6 | 2.7 | −0.1% |