Quinsam Capital (QCA) Q4 2025 earnings summary

Executive summary

• Achieved net income of $0.4 million ($0.01 per share) in Q4/2025, reversing a net loss of $4.3 million in Q4/2024.

• Q4 ended with a small profit, positively impacting net asset value (NAV), which stood at approximately CAD 0.10 at quarter-end.

• Positive performance from several portfolio companies, with expectations for NAV increase in Q1/2026.

Financial highlights

• Net income of $0.4 million in Q4/2025 compared to a net loss of $4.3 million in Q4/2024.

• Net assets at December 31, 2025, exceeded $0.10 per share.

• Liquid investments, including cash and public equities, totaled approximately $0.06 per share.

• Recent investments contributed positively to NAV, including Deep Sea Minerals and Nevada Organic Phosphate.

Outlook and guidance

• NAV is expected to grow again in Q1, driven by strong public equity performance.

• Anticipates NAV increase in Q1/2026 due to strong performance from several investments.

• Q1 NAV is anticipated to increase, with results to be reported in the coming weeks.

• Continues to seek a value-creating transaction, with patience for high-quality opportunities.

• Market conditions are favorable, supporting ongoing NAV growth.