Majestic Gold (MJS) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025, rose 22.5% year-over-year to $63.7 million.

• Gross profit increased 19.9% to $33 million compared to the same period last year.

• Net income declined 9.7% year-over-year to $15.2 million.

• Gold production fell 6.3% to 22,643 ounces for the nine-month period.

Financial highlights

• Adjusted EBITDA for the nine months was $32.7 million, up from $28.7 million year-over-year.

• Cash flow from operating activities decreased 8.8% to $17.6 million.

• Cash and cash equivalents stood at $104.6 million as of September 30, 2025, up from $100.7 million at FYE2024.

• Working capital decreased to $68 million from $86.3 million at FYE2024.

Segment performance

• Gold sold in the nine months was 20,399 ounces, down from 22,256 ounces year-over-year.

• Average realized gold price increased to $3,084/oz from $2,309/oz year-over-year.