v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from (used in) operating activities:      
Net income (loss) $ (51,446) $ 11,192 $ 82,313
Adjustments to reconcile net income to net cash from operating activities:      
Accretion of asset retirement obligations 1,667 1,465 1,403
Depreciation, depletion, and amortization 68,155 65,615 54,252
Amortization of debt issuance costs 2,711 934 776
Stock-based compensation 17,569 17,466 12,905
(Gain)/loss on disposal of assets 38 (18)  
Other income - gain on insurance recoveries     (10,192)
Deferred income taxes (11,718) 1,675 18,714
Changes in operating assets and liabilities:      
Accounts receivable 19,228 23,284 (55,692)
Prepaid expenses and other current assets 12,059 1,869 14,361
Inventories (43,797) (6,195) 7,810
Other assets and liabilities (3,169) (2,982) (430)
Accounts payable (10,042) (4,834) 24,549
Accrued liabilities 714 3,194 10,267
Net cash from (used in) operating activities 1,969 112,665 161,036
Cash flows from (used in) investing activities:      
Capital expenditures (62,781) (55,236) (82,904)
Land and mineral acquisition (18,544)    
Acquisition of Maben assets (bond recovery in 2023)     1,182
Insurance proceeds related to property, plant, and equipment 2   11,256
Maben preparation plant capital expenditures (1,717) (13,606)  
Capitalized interest (1,209) (1,498) (1,137)
Other 584 (495) (608)
Net cash used in investing activities (83,665) (70,835) (72,211)
Cash flows from (used in) financing activities:      
Proceeds from equity offering 189,000    
Payment of equity offering costs (746)    
Proceeds from long-term debt issuances 398,483 55,160  
Purchase of capped calls (32,810)    
Proceeds from borrowings 52,000 141,500 130,000
Repayment of borrowings (52,369) (197,966) (127,514)
Repayments of senior notes (34,500)    
Repayment of Ramaco Coal acquisition financing - related party     (40,000)
Proceeds from stock options exercised 802 534  
Payment of dividends (4,340) (24,602) (25,820)
Repayments of insurance financing (7,276) (5,540) (5,207)
Repayments of equipment finance leases (10,497) (8,636) (6,659)
Payment of debt issuance costs (5,217) (657)  
Shares surrendered for withholding taxes payable (3,489) (10,581) (7,317)
Net cash from (used in) financing activities 489,041 (50,788) (82,517)
Net change in cash and cash equivalents and restricted cash 407,345 (8,958) 6,308
Cash and cash equivalents and restricted cash, beginning of period 33,823 42,781 36,473
Cash and cash equivalents and restricted cash, end of period 441,168 33,823 42,781
Cash and cash equivalents 440,347 33,009 41,962
Restricted cash 821 814 819
Total cash, cash equivalents and restricted cash 441,168 33,823 42,781
Supplemental cash flow information:      
Cash paid for interest (net of amounts capitalized) 8,063 4,756 8,113
Cash paid for income taxes 2,242 1,228 771
Cash received for income tax refund 352   11,758
Non-cash investing and financing activities:      
Leased assets under financing leases 14,488 12,000 6,144
Capital expenditures included in accounts payable and accrued liabilities 13,263 12,447 4,939
Financed insurance 7,016 5,811 5,803
Financed insurance (2022 adjustment recorded in 2023)     (1,136)
Accrued dividends and dividend equivalents payable $ 757 $ 7,085 $ 7,198