$TFPM

Triple Flag Precious Metals Corp.

CIK:0001829726|SEC Filings

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Revenue	$ 388,704	$ 268,991
Cost of sales
Cost of sales excluding depletion	(46,531)	(38,227)
Depletion	(79,255)	(75,554)
Gross profit	262,918	155,210
General administration costs	(30,452)	(21,755)
Business development costs	(5,648)	(3,405)
Impairment reversal (charges) and expected credit losses	4,300	(148,034)
Other expenses	10,299	0
Operating income (loss)	220,819	(17,984)
Increase in fair value of investments and prepaid gold interests	46,233	12,775
Gain on disposition of mineral interests	6,710	0
Finance costs, net	(3,459)	(5,073)
Sustainability initiatives	(531)	(903)
Foreign currency translation gain (loss)	(414)	181
Other expenses	0	(1,766)
Other income (expenses)	48,539	5,214
Earnings (loss) before income taxes	269,358	(12,770)
Income tax expense	(29,353)	(10,314)
Net earnings (loss)	$ 240,005	$ (23,084)
Earnings (loss) per share - Basic (in dollars per share)	$ 1.18	$ (0.11)
Earnings (loss) per share - Diluted (in dollars per share)	$ 1.18	$ (0.11)
Other Comprehensive Income
Changes in fair value of derivatives designed as cash flow hedges	$ 1,493	$ 0
Tax expense relating to changes in fair value of derivatives	(396)	0
Other comprehensive income	1,097	0
Total comprehensive income (loss)	$ 241,102	$ (23,084)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating activities
Net earnings (loss)	$ 240,005	$ (23,084)
Adjustments for the following items:
Depletion	79,255	75,554
Non-cash cost of sales from prepaid gold interests	19,149	16,919
Amortization	323	346
Impairment (reversal) charges and expected credit losses	(4,300)	148,034
Loss on disposal of mineral interests	(6,710)	0
Increase in fair value of investments and prepaid gold interests	(46,233)	(12,775)
Stock-based compensation expense	292	422
Income tax expense	29,353	10,314
Finance and other costs, net	3,873	4,991
Operating cash flow before working capital and taxes	315,007	220,721
Income taxes paid, net	(11,577)	(6,992)
Change in working capital	9,402	(226)
Operating cash flow	312,832	213,503
Investing activities
Acquisition of mineral interests	(218,619)	(57,489)
Proceeds on disposal of mineral interests	2,000	366
Proceeds on sale of investments	2,017	3,083
Recovery (acquisition) of loan receivables	4,300	(14,639)
Acquisition of prepaid gold interests and investments	(7,669)	(13,281)
Net cash used in investing activities	(217,971)	(81,960)
Financing activities
Proceeds from issuance of debt	113,000	63,000
Repayments of debt	(113,000)	(120,000)
Proceeds from exercise of stock options and warrants	146	1,758
Normal course issuer bid ("NCIB") purchase of common shares	(9,013)	(8,917)
Dividends paid	(45,845)	(43,279)
Repayments and interest on lease obligation	(457)	(431)
Payment of interest	(3,056)	(4,731)
Debt issue costs	(1,633)	0
Net cash used in financing activities	(59,858)	(112,600)
Effect of exchange rate changes on cash and cash equivalents	36	(77)
Increase (decrease) in cash and cash equivalents during the period	35,039	18,866
Cash and cash equivalents at beginning of the period	36,245	17,379
Cash and cash equivalents at end of the period	$ 71,284	$ 36,245

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 71,284	$ 36,245
Amounts receivable and other	22,772	16,953
Prepaid gold interests	33,537	14,252
Investments and other	17,421	3,010
Inventory	4,665	3,835
Income tax receivable	0	1,066
Loans receivable	3,118	284
Current assets	152,797	75,645
Mineral interests	1,894,470	1,646,634
Prepaid gold interests	57,478	35,287
Deferred income tax	5,870	8,446
Loans receivable	0	1,500
Other assets	2,863	2,467
Non-current assets	1,960,681	1,694,334
Total Assets	2,113,478	1,769,979
Liabilities
Amounts payable and other liabilities	35,073	23,090
Income tax payable	3,495	3,718
Lease obligation	379	318
Current liabilities	38,947	27,126
Deferred income tax	20,071	2,934
Lease obligation	1,084	1,373
Debt	0	0
Other non-current liabilities	8,159	2,826
Non-current liabilities	29,314	7,133
Shareholders' equity
Share capital	1,864,823	1,744,341
Retained earnings (deficit)	164,950	(23,773)
Other	15,444	15,152
Shareholders' equity	2,045,217	1,735,720
Total Liabilities and Shareholders' Equity	$ 2,113,478	$ 1,769,979