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Mar 31
Silvercorp Q4 2025 Earnings Report
Silvercorp reported a net loss for Q4 2025 despite strong revenue growth, due to a large non-cash charge.
Key Takeaways
Revenue grew significantly in Q4 2025 due to higher metal production and improved prices, but a $20.6 million charge on derivative liabilities led to a net loss.
Revenue rose to $75.1M in Q4 2025 driven by higher production and selling prices across all metals.
Reported net loss of $7.6M due to a $20.6M non-cash charge on derivative liabilities.
Adjusted EPS was positive at $0.07, reflecting underlying operational strength.
Operating cash flow grew 200% YoY to $30.7M.
Silvercorp
Silvercorp
Forward Guidance
Silvercorp did not provide specific quantitative forward guidance but indicated strong financial flexibility and project readiness.
Positive Outlook
- Cash position strengthened to $369.1M, up 100% YoY.
- Available stream financing credit of $175M for the El Domo project.
- Higher realized prices for all key metals.
- Strong growth in operating cash flow.
- Capex and development projects well-funded.
Challenges Ahead
- Significant non-cash charge on derivative liabilities affected profitability.
- Net loss reported in Q4 despite operational improvements.
- Higher cash cost per oz of silver YoY.
- Lead and zinc production from GC Mine declined YoY.
- Continued exposure to fluctuations in derivative fair values.