Santacruz Silver Mining Ltd Common Shares (SCZM) had the highest return last year by a small-cap US stock, returning 1,148.1%.

ASSET	YEAR	% RETURN
Santacruz Silver Mining Ltd Common Shares (SCZM)	2025	1,148.06%
Oncology Institute (TOI)	2025	1,063.4%
Hycroft Mining (HYMC)	2025	951.77%
Relmada Therapeutics (RLMD)	2025	830.99%
XMax (XMAX)	2025	809.09%
XMax (XWIN)	2025	809.09%
Nanobiotix (NBTX)	2025	643.41%
Avino Silver & Gold Mines (ASM)	2025	582.42%
Charming Medical Limited Class A Ordinary Shares (MCTA)	2025	539.54%
DBV Technologies (DBVT)	2025	482.67%
Anbio Biotechnology Class A Ordinary Shares (NNNN)	2025	471.67%
Americas Silver (USAS)	2025	437.89%
Inhibrx Biosciences (INBX)	2025	416%
Nutex Health (NUTX)	2025	413.96%
Integra Resources (ITRG)	2025	355.68%
ThredUp (TDUP)	2025	343.75%
SuperX AI Technology (SUPX)	2025	333.27%
Sify Technologies (SIFY)	2025	326.22%
Olema Pharmaceuticals (OLMA)	2025	322.3%
CytomX Therapeutics (CTMX)	2025	321.78%
Alto Neuroscience (ANRO)	2025	313.95%
International Tower Hill Mines (THM)	2025	303.47%
Phoenix Asia Holdings Limited Ordinary Shares (PHOE)	2025	300%
Idaho Strategic Resources (IDR)	2025	287.5%
China Yuchai International (CYD)	2025	285.23%

Small-cap stocks are treated as having a market cap between $300M and $2B.