Metalla Royalty & Streaming (MTA) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 24% YoY to $4.940M; net income reached a record $1.553M and Adjusted EBITDA was $3.631M.

• Inaugural cash flows from Côté-Gosselin and La Parrilla expanded the producing portfolio; 2,967 attributable GEOs were received or accrued through 9M.

Financial highlights

• Q3 revenue was $4.940M vs. $4.000M YoY; 9M revenue was $13.228M vs. $8.416M.

• Q3 net income was $1.553M vs. $0.629M YoY; 9M net income was $2.887M vs. a $1.838M loss.

• Adjusted EBITDA was $3.631M in Q3 vs. $2.902M YoY and $9.344M in 9M vs. $5.253M; 2026 adjustments included $0.582M in non-recurring items.

• 9M gross profit was $11.834M vs. $6.705M, and earnings from operations were $4.366M vs. $1.464M.

• Q3 other income included a $0.6M reversal of a payable related to a right of first refusal on a historic royalty acquisition.

Outlook and guidance

• 2026 attributable GEO outlook remained ~4,000, within 3,500–4,500 guidance; 2,967 GEOs through Q3 represented 74% of the midpoint.

• Tocantinzinho, Wharf, Aranzazu and Endeavor are expected to be the primary sources of 2026 royalty and stream cash flows.

• Copper World construction was approved, with first production expected in H2 2029; the base case targets 102,000 tonnes of copper annually for the first 10 years.