Vox Royalty (VOXR) Q2 2026 earnings summary

Executive summary

• Achieved record net income of $17.0 million for Q2 2026, reversing a net loss of $0.4 million in Q2 2025, and record first half net income of $41.5 million compared to a $0.7 million loss in 1H 2025.

• Completed two opportunistic divestments, generating significant returns: 14x on Federation royalty and 2x on i-80 offtake stream.

• Notable organic portfolio developments included a 20-year land access agreement at Los Filos and a ~400% life-of-mine production increase at Bonikro.

Financial highlights

• Q2 2026 net income: $17.0 million ($0.25/share); 1H 2026 net income: $41.5 million ($0.60/share).

• Q2 2026 royalty and net precious metal receipts: $6.2 million (Q2 2025: $2.8 million); 1H 2026: $22.2 million (1H 2025: $5.4 million).

• Q2 2026 gross profit: $4.1 million (Q2 2025: $1.7 million); 1H 2026: $15.7 million (1H 2025: $3.6 million).

• Q2 2026 operating cash flow: $4.7 million (Q2 2025: $1.8 million); 1H 2026: $19.9 million (1H 2025: $2.8 million).

• Record cash position at quarter end: $31.1 million; fully undrawn $40 million credit facility.

Outlook and guidance

• 2026 guidance for royalty and net precious metal receipts reiterated at $32–$37 million, excluding $10.4 million from recent divestments.

• Expectation that a greater proportion of receipts will be realized in the first half of 2026 due to higher gold deliveries.

• Quarterly dividend of $0.015/share declared, payable October 14, 2026.