Majestic Gold (MJS) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025, was $42.7 million, up 27.1% year-over-year.

• Gold production for the period was 15,879 ounces, a 2% decrease compared to the prior year.

• Net income for the period was $10.1 million, down 9.3% year-over-year.

• Cash flow from operating activities increased 3.2% to $12 million.

Financial highlights

• Gross profit rose 22.3% to $22.1 million compared to the same period last year.

• Adjusted EBITDA was $22.1 million, up from $18.9 million year-over-year.

• Average realized gold price increased to $2,959/oz from $2,227/oz year-over-year.

• Total cash costs and AISC rose to $1,135/oz and $1,394/oz, respectively, from $787/oz and $957/oz.

• Cash and cash equivalents at June 30, 2025, were $103.5 million, up from $100.7 million at FYE2024.

Outlook and guidance

• Management commentary includes forward-looking statements regarding production, exploration, and operational plans, subject to risks and uncertainties.