Sprott Announces Third Quarter 2025 Results

Core Insights - Sprott Inc. reported significant growth in Assets Under Management (AUM), reaching $49.1 billion as of September 30, 2025, a 23% increase from $40 billion at the end of June 2025 and a 56% increase from $31.5 billion at the end of December 2024 [2][3] - The company achieved $1.1 billion in net sales during the quarter, with September marking the best sales month in its history at $879 million across 20 investment strategies [2] - Sprott's ETF offerings have expanded, with AUM growing from less than $400 million in 2022 to over $4.5 billion [2] - A quarterly dividend of $0.40 per share was declared, representing a 33% increase, reflecting confidence in the company's future [2] AUM Highlights - AUM was $49.1 billion as of September 30, 2025, up 23% from $40 billion as of June 30, 2025, and up 56% from $31.5 billion as of December 31, 2024 [3] - The growth in AUM was driven by market value appreciation and positive net inflows, particularly in physical trusts [3] Revenue Highlights - Management fees for the quarter were $50.7 million, a 30% increase from $39 million for the same quarter in 2024 [6] - Net fees were $46.7 million for the quarter, up 20% from $38.9 million for the same quarter in 2024 [6] - Commission revenues increased to $3.8 million for the quarter, up from $0.5 million for the same quarter in 2024 [6] Expense Highlights - Net compensation expense was $19 million for the quarter, up 13% from $16.7 million for the same quarter in 2024 [5] - Stock-based compensation expense was $22.4 million for the quarter, significantly up from $4.8 million for the same quarter in 2024 [5] - Selling, general, and administrative expenses were $4.5 million for the quarter, down 3% from $4.6 million for the same quarter in 2024 [7] Earnings Summary - Net income for the quarter was $13.2 million ($0.51 per share), a 4% increase from $12.7 million ($0.50 per share) for the same quarter in 2024 [11] - Adjusted EBITDA was $31.9 million ($1.24 per share) for the quarter, up 54% from $20.7 million ($0.81 per share) for the same quarter in 2024 [11] Subsequent Events - New executive appointments include Ryan McIntyre as President and Kevin Hibbert and Arthur Einav as Co-Chief Operating Officers [9][10] - As of October 31, 2025, AUM increased to $51 billion, reflecting continued market value appreciation and net inflows [11]