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Sprott (SII) investor relations material

Sprott Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary19 Feb, 2026

Executive summary

  • Assets under management (AUM) reached $59.6 billion at year-end 2025, up 89% year-over-year and 21% from Q3, driven by market appreciation and $3.9 billion in net sales, mainly in precious metals and critical materials.

  • AUM further increased to $70.1 billion by mid-February 2026, reflecting continued inflows and market gains.

  • ETF business and managed equity/private strategies delivered excellent performance, with ETF AUM growing from $0.4 billion to $4.6 billion and managed equities AUM nearly doubling.

  • Precious metals outperformed traditional asset classes, and critical materials strategies saw strong performance due to investor demand and geopolitical factors.

  • Net sales for 2025 totaled $3.9 billion, with strong managed equities and metals performance.

Financial highlights

  • Net income for Q4 2025 was $28.7 million ($1.11/share), up from $11.7 million ($0.46/share) year-over-year; full-year net income reached $67.3 million ($2.61/share), up 37%.

  • Adjusted EBITDA for Q4 was $42.1 million ($1.63/share), up 88% year-over-year; full-year Adjusted EBITDA was $121.4 million ($4.71/share), up 43%.

  • Q4 2025 total revenues were $111.4 million; full-year revenues were $285.1 million.

  • Carried interest and performance fees for 2025 were $54.7 million, up from $7.3 million in 2024.

  • Dividend raised by 33% to $0.40 per share in Q3 2025, with a quarterly dividend declared in February 2026.

Outlook and guidance

  • Expect continued market volatility in 2026, with technical corrections seen as opportunities for new investors.

  • Anticipate increased government involvement in critical materials markets, driving further investor interest.

  • Plans to announce at least one new ETF in the first half of 2026 and expand offerings in Europe.

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Sprott's competitive edge in mining ETFs
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Frequently asked questions

Sprott Inc. is a global asset management firm specializing in alternative investment strategies, with a primary focus on precious metals and real asset investments. The company offers a range of services, including managed equities, exchange-listed products, lending, and brokerage services, catering to institutional and individual investors. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX (Toronto Stock Exchange).

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