$EXK

ENDEAVOUR SILVER CORP

CIK:0001277866|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Statement
Revenue	$ 467.5	$ 217.6
Cost of sales:
Direct production costs	280.3	124.5
Royalties	30.9	20.9
Share-based payments	0.5	0.3
Depreciation	73.0	29.9
Cost of sales	384.7	175.6
Mine operating earnings	82.8	42.0
Expenses:
Exploration, evaluation and development	23.4	19.4
General and administrative	23.3	14.1
Mineral properties impairment	0.4	0.2
Total expenses	47.1	33.7
Operating earnings	35.7	8.3
Finance costs	14.5	1.5
Other income (expense):
Foreign exchange gain (loss)	0.3	(5.5)
Loss on derivative liabilities	(126.2)	(30.5)
Investment and other	(0.2)	7.2
Total other income (expense)	(126.1)	(28.8)
Loss before income taxes	(104.9)	(22.0)
Income tax expense:
Current income tax expense	36.6	12.9
Deferred income tax expense (recovery)	(22.4)	(3.4)
Income tax expense	14.2	9.5
Net loss and total comprehensive loss	$ (119.1)	$ (31.5)
Basic loss per share	$ (0.42)	$ (0.13)
Diluted loss per share	$ (0.42)	$ (0.13)
Basic weighted average number of shares outstanding	283,078	242,181
Diluted weighted average number of shares outstanding	283,078	242,181

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating activities
Net loss for the year	$ (119.1)	$ (31.5)
Items not affecting cash:
Share-based compensation	3.9	3.2
Depreciation	73.8	31.1
Deferred income tax recovery	(22.4)	(3.4)
Unrealized foreign exchange loss (gain)	(4.4)	5.4
Finance costs	14.5	1.5
Interest income	(2.9)	(7.5)
Loss on copper stream revaluation	13.2	0.0
Reversal of inventory write-down to net realizable value	(2.4)	0.0
Unrealized (gain) loss on derivatives	96.2	26.9
Unrealized (gain) loss on other investments	(0.8)	1.8
Other non-cash adjustments	1.9	(0.3)
Net changes in non-cash working capital	16.0	(8.1)
Cash from operating activities	67.4	19.1
Investing activities
Proceeds from disposal of property, plant and equipment	0.0	0.1
Payment for mineral properties, plant and equipment	(169.2)	(195.4)
Net cash paid on business acquisition	(72.1)	0.0
Proceeds from disposal of other investments	0.8	3.2
Proceeds from loan receivable	0.2	1.1
Interest received	2.9	7.5
Cash used in investing activities	(237.4)	(183.5)
Financing activities
Repayment of loans payable	(159.6)	(4.1)
Repayment of lease liabilities	(1.0)	(0.4)
Interest paid	(15.7)	(4.2)
Net proceeds from public equity offerings	70.5	122.4
Net proceeds from convertible senior notes offering	339.1	0.0
Proceeds from exercise of options	7.2	4.0
Proceeds from loans payable	15.0	120.0
Proceeds from copper stream prepayment	35.0	0.0
Repayment of copper stream	(3.5)	0.0
Payment of deferred financing fees	0.0	(1.7)
Cash from financing activities	287.0	236.0
Effect of exchange rate change on cash and cash equivalents	0.3	(0.5)
Increase in cash and cash equivalents	117.3	71.1
Cash and cash equivalents, beginning of the year	106.4	35.3
Cash and cash equivalents, end of the year	223.7	106.4
Cash and cash equivalents, excluding cash and cash equivalents held for sale	215.4	0.0
Cash and cash equivalents classified as held for sale	$ 8.3	$ 0.0

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 215.4	$ 106.4
Other investments	1.0	1.1
Accounts and other receivables	26.0	5.2
IVA receivables	63.8	5.1
Inventories	62.3	36.0
Derivative assets	1.1	0.0
Prepaids and other current assets	6.0	3.8
Assets held for sale	47.6	0.0
Total current assets	423.2	157.6
Non-current income tax receivable	5.4	3.6
Non-current IVA receivable	3.0	31.3
Non-current derivative assets	8.0	0.0
Other non-current assets	10.2	20.5
Mineral properties, plant and equipment	785.9	506.2
Total assets	1,235.7	719.2
Current liabilities
Accounts payable, accrued liabilities and other current liabilities	120.4	54.0
Income taxes payable	24.3	9.5
Loans payable	8.8	5.2
Copper stream liability	7.7	0.0
Derivative liabilities	94.1	10.2
Liabilities held for sale	21.5
Total current liabilities	276.8	78.9
Non-current loans payable	3.9	115.0
Provisions for reclamation and rehabilitation	22.3	11.6
Deferred income tax liability	38.2	10.3
Non-current copper stream liability	37.0	0.0
Non-current derivative liabilities	36.2	16.6
Convertible senior notes	231.2	0.0
Contingent payment	8.8	0.0
Other non-current liabilities	2.2	2.4
Total liabilities	656.6	234.8
Shareholders' equity
Common shares	981.2	851.0
Contributed surplus	89.2	5.6
Retained deficit	(491.3)	(372.2)
Total shareholders' equity	579.1	484.4
Total liabilities and shareholders' equity	$ 1,235.7	$ 719.2