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Lithium Royalty (LIRC) investor relations material
Lithium Royalty Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the quarter was $417,000, an 86% increase year-over-year, driven by new royalty streams and positive pricing adjustments.
Portfolio expanded to 36 royalties, including a new tungsten royalty, diversifying exposure to critical minerals.
Three new assets, including Tres Quebradas and Ganfeng's Mariana project, commenced production in 2025, with more meaningful contributions expected in 2026.
The acquisition of a royalty on the Fox Tungsten asset diversifies exposure beyond lithium.
Financial highlights
Royalty revenue rose to $417,000 in Q3 2025, up from $224,000 year-over-year, an 86% increase.
Gross profit rose 96% year-over-year to $386,000.
Net loss narrowed to $921,000 from $1.65 million in Q3 2024.
Adjusted EBITDA loss was $1.1 million, flat year-over-year and improved from a $1.5 million loss last quarter.
Ended the quarter with $27.5 million in cash and no debt.
Outlook and guidance
Expecting increased royalty revenue in 2026 as Tres Quebradas, Ganfeng's Mariana, and other assets ramp up production.
Pipeline for new royalty acquisitions is robust, focusing on high-grade, low-cost, near-term cash-flowing assets.
Anticipates the lithium market to rebalance sooner if demand trends persist, with potential for positive year-on-year price growth in Q4 2025.
Sigma Lithium's Grota do Cirilo Phase 2 on track for 2026 production start.
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