Kelt Exploration Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	466.99	413.7	436.41	547.79	289.35
Revenue Growth (YoY)	12.88%	-5.21%	-20.33%	89.32%	47.02%
Cost of Revenue	208.15	180.35	164.8	153.47	102.11
Gross Profit	258.84	233.35	271.62	394.32	187.24
Selling, General & Admin	21.31	21.12	18.25	17.32	13.47
Depreciation & Amortization Expenses	183.57	141.49	125.81	116.18	91.25
Exploration Expenses	0.16	0.21	1.41	14.48	0.93
Total Operating Expenses	205.03	162.83	145.47	147.98	105.65
Operating Income	53.81	70.52	126.14	246.34	81.6
Interest Expense	-14.59	-6.76	-4.19	-3.91	-2.44
Other Non-Operating Income (Expense)	44.78	-0.61	-7.48	-32.23	-13.59
Total Non-Operating Income (Expense)	30.18	-7.37	-11.67	-36.14	-16.03
Pretax Income	83.99	63.16	114.48	210.2	135.69
Provision for Income Taxes	20.93	17.73	28.5	51.44	21.44
Net Income	63.06	45.42	85.97	158.76	114.26
Net Income to Common	63.06	45.42	85.97	158.76	114.26
Net Income Growth	38.82%	-47.17%	-45.85%	38.95%	-
Shares Outstanding (Basic)	199	196	193	191	189
Shares Outstanding (Diluted)	202	200	197	195	191
Shares Change (YoY)	1.24%	1.30%	0.82%	2.44%	1.44%
EPS (Basic)	0.32	0.23	0.45	0.83	0.61
EPS (Diluted)	0.31	0.23	0.44	0.81	0.60
EPS Growth	34.78%	-47.73%	-45.68%	35.00%	-
Shares Outstanding	199.81	196.76	194.51	192	189.16
Free Cash Flow	-49.15	-116.87	6.75	-3.57	-58.39
Free Cash Flow Per Share	-0.24	-0.59	0.03	-0.02	-0.31
Gross Margin	55.43%	56.41%	62.24%	71.98%	64.71%
Operating Margin	11.52%	17.05%	28.90%	44.97%	28.20%
Profit Margin	13.50%	10.98%	19.70%	28.98%	39.49%
FCF Margin	-10.53%	-28.25%	1.55%	-0.65%	-20.18%
EBITDA	237.38	212.02	251.96	362.52	172.85
EBITDA Margin	50.83%	51.25%	57.73%	66.18%	59.74%
EBIT	53.81	70.52	126.14	246.34	81.6
EBIT Margin	11.52%	17.05%	28.90%	44.97%	28.20%
Effective Tax Rate	24.92%	28.08%	24.90%	24.47%	15.80%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.