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Perpetua Resources (PPTA) investor relations material
Perpetua Resources Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Advanced project financing with $807 million in equity raised from June to October 2025, including strategic investments from Agnico Eagle and JPMorgan, and continued pursuit of up to $2 billion in U.S. EXIM debt financing for the Stibnite Gold Project.
Broke ground on the Stibnite Gold Project on October 21, 2025, marking a major milestone for stakeholders and the state of Idaho.
Commenced early works construction in October 2025 after posting $139 million in construction phase financial assurance and receiving regulatory clearance.
Focus for the remainder of 2025 is on advancing project financing, detailed engineering, procurement, and expanding the management team.
Focused on providing a domestic source of antimony and developing one of the largest open pit gold mines in the Americas.
Financial highlights
Net loss for Q3 2025 was $25.8 million, up from $3.6 million in Q3 2024, mainly due to a $17.6 million increase in exploration expense and a $9.6 million decrease in grant income, partially offset by a $4.6 million increase in interest income.
Cash and cash equivalents were $445.8 million as of September 30, 2025, increasing to approximately $720 million after subsequent equity financings in October 2025.
Aggregate gross proceeds of $807 million raised from equity offerings between June and October 2025.
Closed a $49 million equity offering in July 2025, $255 million from Agnico Eagle and JPMorgan, and $78 million from a registered offering and private placement in October 2025.
Outlook and guidance
Anticipates full construction readiness by spring 2026, contingent on securing full project financing.
U.S. EXIM Board consideration for $2.0 billion in debt financing expected by Spring 2026.
Board-approved expenditures for 2025 total $210.2 million, with an additional $157.1 million for early works and construction readiness activities expected in Q1 2026.
Sufficient cash on hand to cover obligations and planned expenditures for at least the next 12 months.
Early works construction and exploration activities to continue, with focus on high-priority targets.
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CY25 revenue up 7.6% YoY, strong AI launches, and CY26 growth expected to accelerate. - SHAK
Revenue up 16.5%, net income $10.4M, and 23 new Shacks opened, with margin expansion. - DHC
Q1 2025 delivered 4.3% revenue growth, narrowed net loss, and strong SHOP segment gains. - DHC
Q3 2025 revenue up, SHOP improved, but net loss rose on impairments and transitions. - IKS
Q3 FY26 delivered 24% revenue growth, 40% EBITDA growth, and strong EPS with clean audit. - SHAK
Revenue, net income, and margins rose, with 22 new locations and digital sales growth. - DHC
Q4 revenue up 5%, SHOP NOI up 56%, and a $7.2B portfolio supports debt reduction. - DHC
SHOP segment drives NOI growth, but net loss widens amid asset sales and cost pressures. - DHC
Q2 2024 delivered strong SHOP NOI growth and higher revenues despite a wider net loss. - REDINGTON
Record Q3 revenue and profit, SSG leads growth, Arena losses narrow, cash flow improves.
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