Metalla Reports Lower Quarterly Operating Earnings
Nine-month royalty revenue rose to US$13.2 million as Metalla’s third-quarter operating earnings declined.
Metalla Royalty & Streaming Ltd. (MTA) reported third-quarter operating earnings of US$1.38 million, down from US$1.46 million a year earlier. The precious metals royalty and streaming company’s revenue rose to US$4.9 million from US$4 million for the three months ended September 30, 2026.
Gross profit rose to US$4.4 million from US$3.3 million as royalty revenue increased and depletion on royalty interests declined. General and administrative expenses rose to US$1.6 million from US$1.1 million, and share-based payments increased to US$1.2 million from US$0.8 million.
For the nine months through September, royalty revenue rose to US$13.2 million from US$8.4 million a year earlier. Earnings from operations increased to US$4.1 million from US$1.5 million, and Metalla reported net income of US$2.9 million, compared with a US$1.8 million loss in the prior-year period.
Nine-month interest expense declined to US$1 million from US$1.3 million. The prior-year period also included a US$738,000 loss on the extinguishment of a convertible loan facility; Metalla recorded no such loss in the 2026 period.
Metalla ended September with US$13.5 million in cash and cash equivalents, up from US$9.8 million at the end of 2025. Its revolving credit facility balance was US$12.4 million, compared with US$12.2 million at year-end.
The company received US$1.3 million from stock option exercises during the nine-month period and made no drawdowns on the revolving facility, compared with US$13.1 million in drawdowns a year earlier. Current liabilities declined to US$3.8 million from US$6.4 million at the end of 2025.
Metalla said it had incurred losses from operations in multiple prior years and had a cumulative deficit of US$70.2 million at September 30. Its continued operations depend on generating positive cash flow, receiving financial support or completing external financing. The company expects its cash, operating cash flows and available credit facilities to fund operations for at least 12 months from the report date.
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