$SSRGF

SSR MINING INC.

CIK:0000921638|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenue

$ 443,798

$ 405,455

$ 1,025,576

$ 722,073

Operating costs and expenses:

Cost of sales

^[1]

173,672

162,948

368,791

299,589

Depreciation, depletion, and amortization

31,052

26,204

61,157

56,785

General and administrative expense

27,649

26,634

66,130

50,529

Exploration and evaluation

8,959

6,057

14,263

12,017

Reclamation and remediation costs

7,149

6,309

13,647

10,014

Care and maintenance

1,013

Other operating expense (income), net

3,641

8,214

9,457

17,234

Operating income (loss)

191,676

168,076

492,131

274,892

Other income (expense):

Interest expense

(393)

(2,585)

(1,662)

(4,377)

Other income (expense)

12,367

5,994

20,315

12,256

Foreign exchange gain (loss)

(18,318)

(10,218)

(12,577)

(14,849)

Total other income (expense)

(6,344)

(6,809)

6,076

(6,970)

Income (loss) before income and mining taxes

185,332

161,267

498,207

267,922

Income and mining tax benefit (expense)

(48,318)

(29,284)

(110,521)

(51,384)

Net income (loss) from continuing operations

137,014

131,983

387,686

216,538

Net income (loss) from discontinued operations

(44,579)

(51,621)

(410,403)

(81,730)

Net income (loss)

92,435

80,362

(22,717)

134,808

Net loss (income) attributable to non-controlling interest, net of tax:

Discontinued operations

4,851

9,713

13,553

14,048

Net income (loss) attributable to SSR Mining shareholders

97,286

90,075

(9,164)

148,856

Net income (loss) attributable to SSR Mining shareholders:

Continuing operations

137,014

131,983

387,686

216,538

Discontinued operations

$ (39,728)

$ (41,908)

$ (396,850)

$ (67,682)

Weighted-average common shares

Basic (in shares)

208,014

202,774

206,823

202,598

Diluted (in shares)

209,167

216,989

213,221

216,691

Basic:

Continuing operations (in dollars per share)

$ 0.66

$ 0.65

$ 1.87

$ 1.07

Discontinued operations (in dollars per share)

(0.19)

(0.21)

(1.91)

(0.34)

Diluted:

Continuing operations (in dollars per share)

0.66

0.61

1.82

1.01

Discontinued operations (in dollars per share)

$ (0.19)

$ (1.86)

$ (0.31)

[1]	Excludes depreciation, depletion, and amortization.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income (loss)	$ (22,717)	$ 134,808
Net (income) loss from discontinued operations	410,403	81,730
Adjustments for:
Depreciation, depletion, and amortization	61,157	56,785
Reclamation and remediation costs	13,647	10,014
Payments for reclamation and remediation liabilities	(4,397)	(1,636)
Deferred income taxes	4,996	2,588
Stock-based compensation	31,889	16,909
Loss (gain) on derivative instruments	(5,589)	(65)
Change in fair value of marketable securities	(4,886)	(3,721)
Loss (gain) on sale and disposal of assets, net	4,493	0
Change in fair value of deferred consideration	1,552	2,839
Other taxes	521	439
Loss (gain) on foreign exchange	1,504	10,896
Other operating activities	4,413	4,166
Net change in operating assets and liabilities	(76,529)	(45,826)
Net cash provided by operating activities from continuing operations	420,457	269,926
Net cash used in operating activities from discontinued operations	(55,665)	(30,033)
Net cash provided by operating activities	364,792	239,893
Investing activities
Additions to mineral properties, plant and equipment	(121,361)	(75,505)
Acquisitions, net	0	(108,736)
Purchases of marketable securities	(21,657)	(20,566)
Net proceeds from sale of marketable securities	16,014	13,609
Proceeds from divestiture of Çöpler	1,495,005	0
Other investing activities	1,250	1,250
Net cash provided by (used in) investing activities from continuing operations	1,369,251	(189,948)
Net cash used in investing activities from discontinued operations	(56,044)	(30,052)
Net cash provided by (used in) investing activities	1,313,207	(220,000)
Financing activities
Repayment of debt, principal	(65,025)	0
Proceeds from revolving credit facility	65,000	0
Repurchase of common shares	(337,782)	0
Proceeds from exercise of stock options	578	0
Principal payments on finance leases	(1,817)	0
Taxes paid related to net share settlement of equity awards	(4,829)	0
Payment of contingent consideration	(87,500)	0
Net cash used in financing activities from continuing operations	(431,375)	0
Net cash provided by financing activities from discontinued operations	12,632	10,531
Net cash provided by (used in) financing activities	(418,743)	10,531
Effect of foreign exchange rate changes on cash and cash equivalents	(1,217)	(6,202)
Change in cash and cash equivalents from divestiture of Çöpler and deconsolidation of Artmin	9,442	4,892
Net increase in cash and cash equivalents	1,267,481	29,114
Cash and cash equivalents, beginning of period	515,561	359,287
Cash and cash equivalents, end of period	$ 1,783,042	$ 388,401

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 1,783,042	$ 515,561
Marketable securities	50,922	40,779
Trade and other receivables	95,774	133,621
Inventories	510,511	488,799
Prepaids and other current assets	29,054	23,093
Assets held for sale	0	85,412
Total current assets	2,469,303	1,287,265
Mineral properties, plant and equipment, net	1,081,575	1,024,415
Inventories	406,203	328,923
Deferred income tax assets	4,725	4,857
Other non-current assets	53,360	57,813
Assets held for sale	264,124	3,390,625
Total assets	4,279,290	6,093,898
LIABILITIES
Accounts payable	32,813	25,405
Accrued liabilities and other	209,295	193,282
Reclamation and remediation liabilities	10,038	8,814
Finance lease liabilities	92	1,745
Current portion of debt	0	229,640
Contingent consideration liabilities	0	86,625
Liabilities held for sale	0	72,845
Total current liabilities	252,238	618,356
Reclamation and remediation liabilities	397,274	390,209
Deferred income tax liabilities	129,918	125,054
Contingent consideration liabilities	77,306	75,582
Other non-current liabilities	30,980	39,327
Liabilities held for sale	0	531,116
Total liabilities	887,716	1,779,644
EQUITY
Common shares – unlimited authorized common shares with no par value; 206,395 and 203,001 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	3,076,462	2,998,654
Retained earnings	315,112	509,119
SSR Mining’s shareholders’ equity	3,391,574	3,507,773
Non-controlling interest	0	806,481
Total equity	3,391,574	4,314,254
Total liabilities and equity	$ 4,279,290	$ 6,093,898