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Mountain Province Diamonds (MPVD) investor relations material
Mountain Province Diamonds Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 2025 saw strong operational performance and improved safety, with TRIFR down 51% year-over-year to 2.13, but was challenged by lower ore grades and a weak diamond market, including new U.S. tariffs.
Record ore processing volumes and mining optimization led to exceeding budgeted tons moved, improving access to higher-grade ore.
411,114 carats were sold for $36.8M at $90 per carat in Q2 2025, with adjusted EBITDA of ($2.2M) and a net loss of $37.7M or $0.18 per share.
Operational discipline improved, but lower grades and market uncertainty weighed on results.
Financial highlights
Q2 2025 revenue was $36.8M from 411,114 carats sold, down from $56.8M and 557,361 carats in Q2 2024, with an average price of $90/ct vs $74/ct a year ago.
H1 2025 revenue was 45% lower year-over-year, with 44% fewer carats sold and an average price of $68/ct vs $72/ct in H1 2024.
Loss from operations for Q2 2025 was $52.6M, and for H1 2025 was $74.9M, compared to gains in the prior year.
Adjusted EBITDA for H1 2025 was $3.9M (5% margin) vs $74M (51% margin) in H1 2024; Q2 2025 adjusted EBITDA was ($2.2M) vs $24.0M in Q2 2024.
Net loss after tax for Q2 2025 was $37.7M and $72.1M for H1 2025.
Outlook and guidance
Focus remains on safety, operational efficiency, and cost control.
Plans to increase processing of higher-grade 5034NEX ore in H2 2025 and beyond.
Market stabilization is anticipated, with potential to leverage high production in Q4 2025 through 2026, but conditions remain unpredictable due to tariffs and global demand.
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Next Mountain Province Diamonds earnings date
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