Titan Mining (TI) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 financial performance with 57% revenue growth and nearly quadrupled adjusted EBITDA year-over-year, driven by strong zinc production and positive operating cash flow supporting critical minerals growth initiatives.

• Zinc production reached 17.5 million payable pounds, up 13% year-over-year and 23% sequentially.

• Advanced graphite strategy with two customer agreements, confirmed battery-grade production, and conditional selection by the U.S. Army for Enhanced Use Lease at two defense sites.

• Advanced germanium development with district-wide enrichment confirmed and partnership with Teck for recovery assessment.

• Strengthened balance sheet with net debt down 47% year-over-year and available liquidity of $29.1 million.

Financial highlights

• Revenue reached $25.7 million, up 57% year-over-year and 31% sequentially, driven by higher zinc sales and prices.

• Adjusted EBITDA was $9.6 million, up 272% year-over-year and 135% quarter-over-quarter.

• Net income after tax was $5.4 million or $0.06 per share, compared to $0.5 million in Q2 2025.

• C1 cash costs were $0.88/lb and AISC $0.96/lb, both below full-year guidance.

• Ended quarter with $13.3 million in cash and $29.1 million in available liquidity.

Outlook and guidance

• Reaffirmed full-year zinc production guidance of 62–66 million payable pounds, C1 cash costs of $0.93–$1.01/lb, and AISC of $1.07–$1.17/lb.

• Sustaining capital expenditures are weighted to the second half of the year.

• Construction decision for Kilbourne Graphite targeted for early 2027, with feasibility study fully funded and on schedule.

• First-half adjusted EBITDA on track for full-year guidance of $20–$28 million.