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Capital (CAPD) investor relations material
Capital Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved highest-ever quarterly revenue of $93.9 million in Q3 2025, up 7.4% from Q2 2025 and 0.2% from Q3 2024, driven by strong drilling, mining ramp-up at Reko Diq, and record MSALABS performance.
MSALABS doubled revenue year-over-year and is now contributing positively to group profitability after rapid expansion.
Investment portfolio value rose to $73.9 million, with $22.5 million in gains during Q3 2025.
Financial highlights
Group revenue guidance for 2025 raised to $335–350 million, with MSALABS revenue guidance increased to $65–75 million.
Drilling and associated revenue reached $65.1 million, up 3.3% sequentially and 1.9% year-over-year.
Mining revenue was $7.8 million, up 11.4% from Q2 2025 but down 59.6% from Q3 2024.
MSALABS revenue hit $21.0 million, up 20.7% sequentially and 100% year-over-year.
Outlook and guidance
Revenue momentum expected to continue into 2026, supported by high commodity prices and robust demand.
Ongoing ramp-up at Reko Diq and improving MSALABS profitability underpin positive outlook.
Mining and exploration market entering a multi-year growth cycle, with high tendering activity.
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