Capital (CAPD) Q2 2026 TU earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $117.3 million, up 34.2% year-over-year and 15.3% sequentially from Q1 2026.

• H1 2026 revenue reached $219.0 million, a 37.6% increase over H1 2025.

• Strong operational performance across all divisions, with portfolio optimization actions underway.

Financial highlights

• Drilling and associated revenue in Q2 2026 was $68.0 million, up 7.9% year-over-year and 8.3% sequentially.

• Mining revenue surged to $25.5 million, up 264.3% year-over-year and 41.7% sequentially.

• MSALABS revenue was $23.8 million, up 36.8% year-over-year and 13.9% sequentially.

Outlook and guidance

• Full-year 2026 revenue guidance reiterated at $410–$440 million, reflecting strong demand and diversification.

• H1 outperformance will be largely offset by one-off demobilisation costs at NGM and Sadiola.

• Three new MSALABS laboratories expected to be commissioned in H2 2026.