Aris Mining (ARIS) Q1 2026 earnings summary

Executive summary

• Achieved record gold revenue of $364 million in Q1 2026, up 21% from Q4 2025, with gold production of 74.3 koz, a 6% sequential increase, driven by strong operational performance and robust gold prices.

• Adjusted EBITDA rose 26% to $212 million, and adjusted net earnings increased to $124 million ($0.60/share), up from $0.46/share in Q4 2025.

• Cash balance increased to $472 million, with net debt reduced to near zero by quarter-end.

• All four assets advanced: Segovia ramp-up, Marmato CIP plant construction on schedule, Toroparu PFS progressing, and Soto Norte environmental license application nearing completion.

• Free cash flow of $42 million was generated, fully funding ongoing growth and expansion projects.

Financial highlights

• Gold revenue of $364 million, up 21% sequentially from Q4 2025; gold sold totaled 74.8 koz, up from 71.7 koz in Q4 2025.

• Adjusted EBITDA of $212 million, up 26% from Q4 2025; adjusted EBITDA LTM reached $610 million.

• Adjusted net earnings of $124 million ($0.60/share), up from $0.46/share in Q4 2025; LTM adjusted net earnings per share: $1.71.

• Cash balance at quarter-end was $472 million, up $80 million from year-end 2025.

• Net debt reduced to near zero from $86 million at year-end 2025.

Outlook and guidance

• Full year 2026 gold production guidance reaffirmed at 300,000–350,000 ounces, with Segovia targeting 265,000–300,000 ounces and Marmato 35,000–50,000 ounces.

• Marmato CIP plant on track for first gold in Q4 2026, ramping up to 5,000 tpd by end of 2027.

• Toroparu PFS to be published in H2 2026; construction decision expected in early 2027.

• Soto Norte environmental license application targeted for Q2 2026.

• Long-term objective to reach approximately 1 million ounces of annual gold production.