Metalla Royalty & Streaming .(US:MTA)2025-11-13 21:30Revenue and Profitability - Revenue from royalty interests for the three months ended September 30, 2025, was $4,000,000, a 147.5% increase from $1,622,000 in the same period of 2024[5] - Gross profit for the nine months ended September 30, 2025, was $6,705,000, compared to $1,890,000 for the same period in 2024, reflecting a significant improvement[5] - Net loss for the nine months ended September 30, 2025, was $1,838,000, an improvement from a net loss of $4,392,000 in the same period of 2024[5] - The company’s total royalty revenue for the nine months ended September 30, 2025, was $8,416 thousand, compared to $3,752 thousand in 2024, reflecting a growth of 124.8%[42] - Royalty revenue for the three months ended September 30, 2025, was $3,898 thousand, compared to $1,541 thousand in 2024, marking an increase of 153.5%[42] Financial Position - Cash and cash equivalents increased to $11,109,000 as of September 30, 2025, from $9,717,000 at the end of 2024[2] - Total assets as of September 30, 2025, were $269,018,000, slightly up from $268,677,000 as of December 31, 2024[2] - Total liabilities decreased to $15,627,000 as of September 30, 2025, from $16,650,000 at the end of 2024[2] - As of September 30, 2025, total financial assets increased to $14,722,000 from $12,538,000 as of December 31, 2024, representing a growth of 17.4%[59] - Total financial liabilities decreased to $15,101,000 as of September 30, 2025, down from $16,114,000 as of December 31, 2024, indicating a reduction of 6.3%[59] Shareholder Information - The weighted average number of shares outstanding for the three months ended September 30, 2025, was 92,543,216[5] - As of September 30, 2025, the company had 92,561,386 common shares issued and outstanding, an increase from 92,076,438 as of December 31, 2024[47] - The company issued 955,000 stock options during the nine months ended September 30, 2025, with a weighted-average exercise price of C$4.41[50] - The company issued 412,088 common shares valued at $1.0 million for the conversion of a portion of the accrued interest amount during the nine months ended September 30, 2025[58] Debt and Financing - The revolving credit facility (RCF) was established at $40 million with an accordion feature for an additional $35 million, with $13.1 million drawn down as of September 30, 2025[25][26] - Interest expenses associated with the RCF for the three and nine months ended September 30, 2025, were $0.3 million, compared to $Nil for the same period in 2024[28] - The company’s loans payable as of September 30, 2025, totaled $12,097,000, which includes a revolving credit facility[24] - The company was in full compliance with all covenants related to the RCF as of September 30, 2025[27] - The company fully repaid the amended and restated convertible loan facility on June 24, 2025, including a principal repayment of C$16.4 million and C$0.7 million in accrued interest and standby fees[36] Operational Highlights - The company completed the acquisition of a 0.15% interest in a Net Smelter Return royalty on the Côté gold mine for C$3.4 million, increasing total ownership to 1.50%[21] - The company reclassified Endeavor from development assets to producing assets due to the restart of the Endeavor mine, impacting asset categorization[22] - The company recognized a loss of $0.7 million on the extinguishment of the A&R Loan Facility on June 24, 2025[39] Expenses and Charges - General and administrative expenses for the three months ended September 30, 2025, were $1,116 thousand, slightly down from $1,150 thousand in 2024[45] - The company recorded charges to share-based payments expense of $0.8 million for the nine months ended September 30, 2025, compared to $0.7 million in 2024[50] - Finance charges for the nine months ended September 30, 2025, totaled $0.2 million, down from $0.3 million in the same period of 2024[40] - The company recognized finance charges related to standby fees associated with the RCF of less than $0.1 million for both the three and nine months ended September 30, 2025[28] Risk and Compliance - The company has not hedged its exposure to currency fluctuations, and a 1% change in the USD against other currencies would result in a pre-tax income change of less than $0.1 million[69] - The company has no significant concentration of credit risk, with cash deposits primarily held with a Canadian chartered bank[66] - The company believes its capital resources are sufficient for its present needs for at least the next twelve months[65] - The cumulative deficit as of September 30, 2025, was $70,680,000, indicating ongoing challenges in achieving profitability[12]