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Lithium Royalty (LIRC) investor relations material

Lithium Royalty Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Repurchased C$4 million in shares, retiring ~9% of free float during the quarter.

  • Lower shipments and a 36% year-over-year drop in spodumene prices led to a 92% decline in royalty revenue compared to Q2 2024.

  • Key portfolio projects advanced, with Ganfeng's Mariana and Zijin's Tres Quebradas expecting first production and revenue in 2H25.

  • Atlas Lithium and Core Lithium released studies supporting strong project economics and reduced costs.

  • Ended the quarter with $28 million in cash and no debt, maintaining a strong pipeline of opportunities.

Financial highlights

  • Royalty revenue was $127,000, down 92% year-over-year from $1.55 million due to project suspensions and shipment delays.

  • Gross profit fell 92% to $102,000 from $1.34 million year-over-year.

  • Net loss of $2.3 million versus net income of $317,000 in Q2 2024.

  • Adjusted EBITDA was negative $1.55 million, compared to positive $138,000 in Q2 2024.

  • Cash balance of $28 million at quarter-end, with no debt.

Outlook and guidance

  • Inaugural royalty revenue from Mariana and Tres Quebradas projects expected in 2H25.

  • Core Lithium's Finniss project restart and Atlas Lithium's $40 million pre-payment funding anticipated in 2H25.

  • Power Metals' Case Lake cesium project to begin production in 2H26.

  • Lithium prices have rebounded 52% since late June, supporting improved market conditions.

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Frequently asked questions

Lithium Royalty Corp. is a company primarily engaged in the lithium industry, focusing on the acquisition and management of royalties on mineral properties. These properties are significant contributors to the supply chain needed for the electrification and decarbonization of the global economy, particularly in the context of increasing demand for electric vehicles (EVs). The company has established a diversified portfolio of royalty interests that span various stages of development, from production to exploration, primarily located in regions like Australia, Canada, South America, and the United States. Lithium Royalty Corp.'s business model centers on benefiting from the burgeoning market for battery metals, essential for powering EVs and other green technologies. The company is headquartered in Toronto, Ontario, and its shares are listed on the Toronto Stock Exchange.

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