LunR Royalties (LUNR) Q2 2026 earnings summary

Executive summary

• Achieved first quarterly revenue and positive cash flow following the commencement of silver deliveries under the Fruta del Norte (FDN) Stream, less than a year after inception.

• Completed the acquisition of the FDN Stream, marking a transformational milestone and strengthening the financial position.

• Appointed Scott Langley to the Board of Directors, bringing significant capital markets and mining sector experience.

Financial highlights

• Recorded inaugural revenue of $4.6 million from the sale of 69,959 ounces of silver in Q2 2026.

• Generated $2.9 million in cash flow from operating activities during the quarter.

• Reported a net loss of $0.1 million, a significant improvement from previous quarters due to new revenue streams.

• Total assets stood at $673.4 million as of June 30, 2026.

Outlook and guidance

• Stream deliveries are expected to be fully ramped up by Q4 2026, with further strengthening of the financial position anticipated.

• Payable silver deliveries under the FDN Stream projected at 225,000 to 275,000 ounces for the second half of 2026; Q4 production to be delivered in Q1 2027.