American Resources Corp Class A
NASDAQ: AREC · BASIC MATERIALS · COKING COAL
Updated 2026-06-05
American Resources Corp Class A (AREC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $62429.00 | $147282.00 | $20.82M | $31.52M | $24.48M | $1.06M | $7.76M | $39.47M | $13.23M | $383234.00 | $0.00 |
| Revenue growth (YoY) | — | — | +135.9% | +14036.8% | +51.4% | -22.4% | -95.7% | +631.8% | +409.0% | -66.5% | -97.1% | -100.0% |
| Cost of revenue | — | $60222.00 | $80922.00 | $21.32M | $28.17M | $30.31M | $5.11M | $8.40M | $25.47M | $11.98M | $2.56M | $2560.00 |
| Gross profit | — | $2207.00 | $66360.00 | $-497582.00 | $3.36M | $-5.83M | $-4.05M | $-639795.00 | $14.00M | $1.25M | $-2.18M | $-2560.00 |
| Gross margin | — | 3.5% | 45.1% | -2.4% | 10.6% | -23.8% | -382.0% | -8.2% | 35.5% | 9.5% | -568.7% | — |
| R&D | — | $1.76M | $1.76M | $6.85M | $3.82M | $7.24M | $4.00M | $18.10M | $28.13M | $11.31M | $2.15M | $107507.00 |
| SG&A | $84951.00 | $376926.00 | $338384.00 | $8.92M | $11.35M | $19.10M | $7.56M | $23.26M | $5.12M | $12.21M | $23.65M | $9.56M |
| Operating income | $-84951.00 | $-404886.00 | $-754906.00 | $-14.02M | $-12.30M | $-59.95M | $-16.45M | $-28.22M | $-19.49M | $-36.38M | $-33.09M | $-11.31M |
| Operating margin | — | -648.6% | -512.6% | -67.3% | -39.0% | -244.9% | -1552.1% | -363.9% | -49.4% | -274.9% | -8634.2% | — |
| EBITDA | $-80973.00 | $-374719.00 | $-680660.00 | $-10.43M | $-6.49M | $-54.04M | $-2.02M | $-24.01M | $3.51M | $-33.19M | $-27.07M | $-11.19M |
| EBITDA margin | — | -600.2% | -462.1% | -50.1% | -20.6% | -220.8% | -190.9% | -309.6% | 8.9% | -250.8% | -7064.2% | — |
| EBIT | $-84951.00 | $-404886.00 | $-719160.00 | $-13.49M | $-10.80M | $-60.28M | $-6.86M | $-28.34M | $-19519.00 | $-36.74M | $-32.18M | $-11.31M |
| Interest expense | $0.00 | $0.00 | $0.00 | $1.04M | $1.96M | $10.63M | $3.39M | $4.17M | $1.43M | $1.99M | $8.02M | $1.76M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-88930.00 | $-424559.00 | $-717673.00 | $-14.37M | $-12.91M | $-70.92M | $-10.26M | $-32.50M | $-1.45M | $-38.53M | $-40.11M | $55.41M |
| Net income growth (YoY) | — | -377.4% | -69.0% | -1902.1% | +10.2% | -449.4% | +85.5% | -216.9% | +95.6% | -2565.0% | -4.1% | +238.2% |
| Profit margin | — | -680.1% | -487.3% | -69.0% | -40.9% | -289.7% | -967.8% | -419.1% | -3.7% | -291.1% | -10465.9% | — |
Frequently asked questions
What is American Resources Corp Class A's revenue?
American Resources Corp Class A's trailing twelve-month revenue is $95030.00. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How much free cash flow does AREC generate?
AREC produced $-17.82M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is AREC's balance sheet healthy?
AREC holds $31.70M in cash and equivalents against $965286.00 in long-term debt, on $94.78M of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.