Integra Resources (ITR) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 2025 revenue of $70.7 million and adjusted earnings of $16.3 million ($0.10/share), driven by strong gold production and high realized gold prices at Florida Canyon.

• Produced 20,653 ounces of gold in Q3, with year-to-date production of 58,063 ounces, on track to meet annual guidance of 70,000–75,000 ounces.

• Ended Q3 2025 with a strong cash balance of $81.2 million, the highest in company history.

• Advanced permitting and feasibility milestones at DeLamar and progressed technical and environmental work at Nevada North.

• Signed a transformative relationship agreement with the Shoshone-Paiute Tribe for DeLamar.

Financial highlights

• Q3 2025 revenue reached $70.7 million, with a 40% operating profit margin and $16.3 million in adjusted earnings ($0.10/share).

• Operating cash flow was $35.6 million, and free cash flow totaled $20.2 million for the quarter.

• Mine operating earnings were $28.6 million in Q3 2025.

• Average realized gold price in Q3 was $3,464/oz; year-to-date average was $3,228/oz.

• Q3 sustaining capital expenditures at Florida Canyon were $15.4 million; year-to-date $35.6 million.

Outlook and guidance

• Florida Canyon is on track to meet 2025 production guidance of 70,000–75,000 ounces of gold.

• 2025 cash cost guidance: $1,800–$1,900/oz; AISC guidance: $2,450–$2,550/oz, with full-year costs expected slightly above guidance due to higher gold prices and related royalties/taxes.

• Sustaining capital guidance for 2025: $48–$53 million; growth capital: $8–$10 million.

• Updated life-of-mine plan for Florida Canyon expected in H1 2026; DeLamar feasibility study expected in Q4 2025.

• No permitting delays at DeLamar despite U.S. government shutdown, due to cost recovery program with BLM.