TRX Gold(US:TRX)2026-01-14 22:20Revenue and Profitability - Revenue for the three months ended November 30, 2025, was $25,117,000, a 100% increase from $12,528,000 in the same period of 2024[6] - Gross profit for the period was $14,215,000, compared to $4,834,000 in the prior year, reflecting a significant improvement in profitability[6] - For the three months ended November 30, 2025, total revenue was $25.1 million, a significant increase from $12.5 million in the same period of 2024, representing a year-over-year growth of 100%[75] - The company recognized contributions of $19.5 million and $5.6 million from two customers, accounting for 77.5% of total revenue for the period[75] Assets and Liabilities - Total current assets increased to $35,882,000 as of November 30, 2025, up from $25,843,000 at August 31, 2025, representing a 39% growth[3] - Total liabilities increased to $55,056,000 as of November 30, 2025, from $42,964,000 at August 31, 2025, indicating a 28% rise[3] - Non-current assets increased to $93.7 million as of November 30, 2025, up from $91.4 million as of August 31, 2025, reflecting a growth of 2.8%[76] - Amounts receivable increased to $7.7 million as of November 30, 2025, from $3.8 million as of August 31, 2025, indicating a growth of 102.6%[20] - Amounts payable and accrued liabilities decreased to $15.2 million as of November 30, 2025, down from $18.2 million as of August 31, 2025, reflecting a reduction of 16.5%[20] Cash Flow and Expenses - Cash at the end of the period was $9,162,000, an increase from $7,770,000 at the beginning of the period[11] - The company reported a cash provided by operating activities of $4,020,000 for the three months ended November 30, 2025, compared to $2,381,000 in the prior year[11] - The company incurred a depreciation expense of $1.1 million for the three months ended November 30, 2025, compared to $0.9 million in the same period of 2024[80] - Total general and administrative expenses for the three months ended November 30, 2025, were $1.691 million, compared to $1.425 million in 2024[69] Shareholder Information - Net loss attributable to shareholders for the three months ended November 30, 2025, was $4,168,000, compared to a net income of $981,000 in the same period of 2024[6] - The total equity attributable to shareholders decreased to $53,810,000 as of November 30, 2025, from $57,273,000 at August 31, 2025[3] - The weighted average number of common shares for basic EPS increased to 294,905,664 from 291,668,469 year-over-year[46] - The total number of issued and outstanding shares increased to 286,956,635 as of November 30, 2025, from 284,861,895 on August 31, 2025[50] Tax and Financial Instruments - The company recognized an income tax expense of $5.028 million for the three months ended November 30, 2025, compared to $1.693 million for the same period in 2024[35] - The company’s effective income tax rate is approximately 12%, benefiting from the utilization of tax loss carry forwards[31] - The company incurred a change in fair value of derivative financial instruments amounting to $(7,000,000) during the period[6] - The change in fair value of derivative financial instruments resulted in a gain of $7.0 million for the three months ended November 30, 2025, compared to a loss of $0.8 million in the same period of 2024[80] Operational Focus - The company is focused on the exploration, development, and production of mineral property interests in Tanzania, with ongoing efforts to enhance its operational capabilities[13] - The company fully utilized its remaining Tanzanian tax loss carry forwards of approximately $1.9 million during the three months ended November 30, 2025[32] Other Financial Metrics - The company had 987 gold ounces outstanding under the Auramet Gold Prepayment Facility as of November 30, 2025, with a total revenue recognized of $15.807 million during the period[38] - Lease liabilities increased to $3.231 million as of November 30, 2025, from $2.807 million as of August 31, 2025, reflecting new additions and accretion[40] - Derivative warrant liabilities rose significantly to $8.011 million as of November 30, 2025, from $1.011 million as of August 31, 2025, due to a change in fair value[42] - The balance of share-based payments reserve decreased to $8.417 million as of November 30, 2025, from $8.778 million at the end of August 2025[52] - The balance of outstanding stock options as of November 30, 2025, was 2,986,500, down from 4,424,000 on August 31, 2025[58] - The total number of warrants outstanding decreased to 35,889,231 as of November 30, 2025, from 36,190,769 at the end of August 2025[63]