Sigma Lithium Corporation (NASDAQ: SGML) reported cash flow from operations of $31 million in the fourth quarter of 2025 and secured two offtake agreements worth $146 million combined, according to the company's full-year results.

The lithium producer generated an operating cash margin of 47% in the fourth quarter, with cash inflows of $41 million offset by operating costs of $10 million. The company reported cash and cash equivalents of $6.2 million at the end of the quarter.

Sigma Lithium signed two supply agreements for lithium oxide concentrate. The first provides $96 million for delivery of 70,500 tonnes during 2026, with monthly disbursements of $8 million. The second agreement involves a $50 million prepayment for 40,000 tonnes annually over three years starting in 2026.

The company achieved net sales revenues of approximately $67 million in the fourth quarter of 2025 and first quarter of 2026, including sales of about 650,000 tonnes of lithium fines and approximately 5,000 tonnes of lithium oxide concentrate.

Sigma Lithium reduced its debt burden in 2025, cutting trade finance debt by 60% and total debt by 35%. Total debt stood at $141 million at year-end 2025, including a $100 million loan the company expects to repay in 2026.

The company projects production of 240,000 tonnes of lithium oxide concentrate over the next 12 months at an all-in sustaining cost of $592 per tonne. Production capacity is expected to increase to 520,000 tonnes in 2027 and 770,000 tonnes in 2028 as expansion phases are completed.

Operating costs declined 77% year-over-year in the fourth quarter, more than offsetting a 64% drop in net sales revenues. The company temporarily demobilized mine operations in October 2025 for restructuring and remobilized them in January 2026.