$SII

SPROTT INC.

CIK:0001512920|SEC Filings

Consolidated statements of operations and comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenues
Management fees	$ 198,963	$ 155,337
Carried interest and performance fees	54,668	7,319
Commissions	8,482	5,696
Finance income	6,662	8,909
Gain (loss) on investments	15,444	(10)
Co-investment income	863	1,404
Total revenues	285,082	178,655
Expenses
Compensation	153,301	75,399
Fund expenses	15,015	12,132
Selling, general and administrative	18,478	18,774
Interest expense	1,222	3,091
Depreciation of property and equipment	2,477	2,221
Foreign exchange (gain) loss	4,231	(1,388)
Other (income) and expenses	0	(580)
Total expenses	194,724	109,649
Income before income taxes	90,358	69,006
Provision for income taxes	23,013	19,712
Net income for the year	$ 67,345	$ 49,294
Net income per share:
Basic (in USD per share)	$ 2.61	$ 1.94
Diluted (in USD per share)	$ 2.61	$ 1.91
Comprehensive income
Net income for the year	$ 67,345	$ 49,294
Other comprehensive income (loss)
Foreign currency translation gain (loss) (taxes of $Nil)	12,553	(20,553)
Total other comprehensive income (loss)	12,553	(20,553)
Comprehensive income	$ 79,898	$ 28,741

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating activities
Net income	$ 67,345	$ 49,294
Add (deduct) non-cash items:
(Gain) loss on investments	(15,444)	10
Stock-based compensation	73	17,614
Depreciation of property and equipment	2,477	2,221
Deferred income tax expense	465	1,971
Current income tax expense	22,548	17,741
Other items	(505)	(2,576)
Income taxes paid	(31,962)	(8,374)
Changes in:
Fees receivable	(30,645)	(7,912)
Other assets	(3,873)	(5,060)
Accounts payable, accrued liabilities and compensation payable	87,211	4,223
Cash provided by (used in) operating activities	97,690	69,152
Investing activities
Purchase of investments	(7,942)	(13,405)
Sale of investments	19,119	43,694
Purchase of property and equipment	(1,852)	(1,868)
Management contract consideration	0	(3,906)
Cash provided by (used in) investing activities	9,325	24,515
Financing activities
Acquisition of common shares for equity incentive plan	0	(963)
Acquisition of common shares under normal course issuer bid	(1,552)	(2,022)
Repayment of lease liabilities	(1,214)	(1,342)
Contributions from non-controlling interest	3,045
Contributions from non-controlling interest		(1,462)
Advances from loan facility	0	6,440
Repayments of loan facility	0	(30,677)
Dividends paid	(33,539)	(27,147)
Cash provided by (used in) financing activities	(33,260)	(57,173)
Effect of foreign exchange on cash balances	2,855	(10,318)
Net increase (decrease) in cash and cash equivalents during the year	76,610	26,176
Cash and cash equivalents, beginning of the year	46,834	20,658
Cash and cash equivalents, end of the year	123,444	46,834
Cash and cash equivalents:
Cash	118,230	43,214
Short-term deposits	5,214	3,620
Total cash and cash equivalents	$ 123,444	$ 46,834

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current
Cash and cash equivalents	$ 123,444	$ 46,834
Fees receivable	46,038	15,393
Short-term investments	640	225
Other assets	14,261	14,657
Income taxes recoverable	3,357	2,079
Total current assets	187,740	79,188
Non-current
Co-investments	76,697	72,848
Other assets	34,469	27,279
Property and equipment, net	21,280	19,185
Intangible assets	183,116	168,254
Goodwill	19,149	19,149
Deferred income taxes	3,328	2,895
Total non-current assets	338,039	309,610
Total assets	525,779	388,798
Current
Accounts payable and accrued liabilities	13,552	7,605
Compensation payable	81,318	11,829
Income taxes payable	2,668	10,844
Total current liabilities	97,538	30,278
Non-current
Other accrued liabilities	47,738	22,958
Deferred income taxes	13,258	11,914
Total liabilities	158,534	65,150
Shareholders' equity
Capital stock	448,575	450,127
Contributed surplus	35,057	36,267
Deficit	(33,449)	(67,255)
Accumulated other comprehensive loss	(82,938)	(95,491)
Total shareholders' equity	367,245	323,648
Total liabilities and shareholders' equity	525,779	388,798
Commitments and contingencies