EMX Royalty Announces Year-End Financial Results; Record Adjusted Royalty Revenue; and Positive Outlook for 2025

Core Insights - EMX Royalty Corporation reported a transformational year in 2024, achieving record-high adjusted royalty revenue and strengthening its financial position through disciplined capital management and share buybacks [2][5][6] Financial Performance - For the year ended December 31, 2024, EMX generated revenue and other income of $27.4 million, adjusted revenue and other income of$36.7 million, adjusted royalty revenue of $33.1 million, and adjusted EBITDA of$19.2 million [1][6][39] - Adjusted revenue and other income increased by 14% compared to the previous year, while adjusted royalty revenue rose by 28% [6][22] - The company ended the year with cash and cash equivalents of $26.8 million and a working capital surplus of$41.5 million, indicating strong liquidity [6][22] Operational Highlights - The company sold a total of 13,897 GEOs in 2024, with adjusted royalty revenue of $33.1 million, up from 15,782 GEOs and$30.7 million in 2023 [22][44] - Key producing royalties such as Gediktepe, Caserones, Timok, and Leeville performed well, contributing to the strong financial results [9][10] Strategic Developments - EMX expanded its royalty at Caserones and acquired a 2% NSR royalty on the Chapi Copper Mine in Peru for $10 million, expected to contribute revenue in 2026 [10][17] - The company anticipates a reduction in cash operating expenditures of over$3 million in 2025 [2][19] 2025 Guidance - For 2025, EMX projects GEO sales between 10,000 to 12,000 and adjusted royalty revenue between $26 million to$32 million [9][10] - The guidance reflects a decrease in expected GEOs compared to 2024, primarily due to heavy exposure to copper-based assets [10][12] Market Outlook - The company is well-positioned for growth, with ongoing exploration programs at Caserones and Timok expected to enhance mineral resources and reserves [15][20] - EMX plans to continue evaluating new royalty and investment opportunities while maintaining a focus on disciplined capital management [20][19]