Canada · Delayed Price · Currency is CAD Elemental Royalty Earnings Call Transcripts
Fiscal Year 2026
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Revenue guidance for 2026 is $95 million with a target of 50,000 GEOs by 2030, following major acquisitions and a business model shift to a pure-play royalty company. The portfolio now includes 21 producing assets, expanded U.S./Canada exposure, and significant new streams, while liquidity and capital markets presence have sharply improved.
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A $290 million acquisition of precious metals streams and royalties, plus divestment of the Generation Business, will immediately boost revenue and streamline operations. The deal enhances North American exposure, reduces G&A by ~$6 million, and positions the company for further growth.
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Q2 2026 saw record gold equivalent ounces sold and a 127% year-over-year revenue increase, with strong cash flow and portfolio growth. Major acquisitions, including Vizsla Royalties, are set to further boost scale and diversification, while cost efficiencies and robust capital allocation support continued growth.
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The acquisition creates a diversified, larger royalty platform with enhanced silver exposure and a premium for Vizsla Royalties shareholders. The deal is expected to close in Q3 2026, pending regulatory approvals, and positions the combined entity for significant growth and market relevance.
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Record quarterly revenue and EBITDA were achieved following the EMX merger, with strong performance from key assets and a robust outlook for organic growth. The company remains net cash positive, expanded its credit facility, and introduced an innovative dividend option.
Fiscal Year 2025
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Record financial results were achieved following a transformative merger, with revenue, GEOs, and EBITDA all up significantly. The company strengthened its balance sheet, announced its first dividend (including an XAUT option), and projects strong organic growth through 2030, supported by cornerstone assets and new royalty acquisitions.
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Q3 saw record financial performance with adjusted revenue up 70% year-over-year, driven by strong asset contributions and higher metals prices. The merger with EMX Royalty created a $1 billion company, expanded the portfolio, and secured $100 million in new financing.
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The merger creates a leading junior royalty company with over 200 royalties, strong financial backing, and a diversified portfolio focused on precious metals. Synergies, increased liquidity, and a U.S. listing position the company for accelerated growth and value creation.
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Record Q2 results with adjusted revenue and EBITDA more than doubling year-over-year, supported by strong gold prices and new investor backing. Liquidity reached $80 million, debt was fully repaid, and 2025 revenue guidance was raised to $35–$40 million.
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Diversified royalty portfolio delivers strong cash flow, with cornerstone assets in Australia and Chile and new growth from Mali and Laverton. Recent transactions and a major new shareholder support further expansion, while disciplined deal-making and a strong technical team underpin ongoing value creation.
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Q1 2025 delivered record adjusted revenue, EBITDA, and cash flow, driven by strong royalty contributions from Korali-Sud, Karlawinda, and Caserones. The company is debt-free, holds over $70 million in available capital, and is on track to exceed 2025 guidance.
Fiscal Year 2024
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Record revenue and EBITDA were achieved in 2024, driven by portfolio expansion and high gold prices. 2025 guidance points to further growth, with significant milestone payments and free cash flow expected, supported by a strong balance sheet and undrawn credit facility.
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Q3 2024 saw revenue up 32% year-over-year, record EBITDA margin of 77%, and a net cash position with $50 million in available liquidity. Guidance for 2024 was tightened, with significant growth expected in 2025 from new royalty contributions and asset expansions.