Integra Resources (ITR) Q2 2026 earnings summary

Executive summary

• Q2 2026 saw a 30% quarter-over-quarter increase in gold production to 16,379 ounces at Florida Canyon, supported by record throughput and total material movement, with a new technical report extending mine life and boosting annual output by 17%.

• Strategic investments in fleet modernization and heap leach expansion are positioning Florida Canyon for sustainable growth and lower costs.

• DeLamar advanced through federal permitting, with detailed engineering, stakeholder engagement, and inclusion in the U.S. FAST-41 program, while Nevada North prepared for expanded exploration.

• Cash and cash equivalents rose to $111.1 million, benefiting from a $57.5 million public offering in Q1 2026.

• Largest drill program in company history underway at Florida Canyon to expand resources and extend mine life.

Financial highlights

• Ended Q2 2026 with $111.1 million in cash and $146.5 million in working capital.

• Generated $70.8 million in revenue and $22.8 million in operating cash flow, with a 33% operating profit margin.

• Adjusted earnings were $13.1 million ($0.06/share), and free cash flow improved to $9.3 million ($0.05/share), up from $2.1 million in Q2 2025.

• Mine operating earnings were $23.4 million, slightly down from $25.2 million in Q2 2025.

• Revenue for Q2 2026 was $70.8 million, a 16% increase year-over-year.

Outlook and guidance

• Maintains 2026 gold production guidance at 70,000–75,000 oz for Florida Canyon.

• Revised 2026 mine site AISC guidance to $3,300–$3,500/oz and cash cost guidance to $2,300–$2,500/oz, reflecting higher mining rates and input costs.

• Non-sustaining growth capital guidance increased to $16.5–$18.5 million, with heap leach expansion accelerated into 2026.

• Permitting at DeLamar expected to conclude with a record of decision in H2 2027; Nevada North exploration drilling to begin August 2026.