Sprott Announces Third Quarter 2025 Results

Executive Summary

• Sprott Inc. reported Q3 2025 results showing AUM of $49.1 billion (up 23% QoQ, up 56% YoY) and net income of $13.2 million ($0.51/share), a modest increase over the prior year.
• The Board declared a third‑quarter cash dividend of $0.40 per share, a 33% increase versus the previous dividend.
• New executive appointments were announced (President Ryan McIntyre; Co‑COOs Kevin Hibbert and Arthur Einav) and an automatic share purchase plan was added to the existing normal course issuer bid.

Key Details

Financial Performance
- AUM: $49.1 billion as of Sept 30 2025 (23% QoQ, 56% YoY). Subsequent update on Oct 31 2025: $51 billion (+4%).
- Net Sales / Inflows: $1.1 billion net sales Q3; $2.7 billion YTD; $3.5 billion for first ten months. September inflows $879 million across 20 strategies (record month).
- Management Fees: $50.7 M Q3 (up 30% YoY); $135.1 M YTD (up 19%).
- Carried Interest & Performance Fees: $1.8 M Q3 (down 57% YoY); $16.6 M YTD (up from $4.8 M).
- Net Fees: $46.7 M Q3 (up 20% YoY); $135.6 M YTD (up 28%).
- Commission Revenue: $3.8 M Q3 (up from $0.5 M YoY); $5.8 M YTD (up 19%).
- Net Income: $13.2 M ($0.51/share) Q3, +4% YoY; $38.6 M ($1.50/share) YTD, +3% YoY.
- Adjusted EBITDA: $31.9 M ($1.24/share) Q3, up 54% YoY; $79.3 M ($3.07/share) YTD, up 26% YoY.

Expense Highlights
- Net compensation expense: $19 M Q3 (up 13% YoY). Stock‑based comp expense rose to $22.4 M due to transition to a cash‑settled plan.
- SG&A: $4.5 M Q3 (down 3% YoY).

Dividend & Shareholder Returns
- Board declared $0.40 per share dividend for Q3, a 33% increase. Announcement made Nov 4 2025.
- Normal Course Issuer Bid (NCIB) active Mar 11 2025 – Mar 10 2026; new Automatic Share Purchase Plan (ASPP) allows purchases during broker‑blackout periods.

Executive Appointments
- President: Ryan McIntyre (Senior Managing Partner, Portfolio Manager).
- Co‑Chief Operating Officers: Kevin Hibbert (CFO) and Arthur Einav (General Counsel).

Operational Updates
- Launched three new ETFs earlier in 2025, including two active ETFs; ETF AUM grew from <$400 M (2022) to >$4.5 B.

Subsequent Events
- As of Oct 31 2025, AUM rose to $51 billion (+4%); market‑value appreciation $1.2 billion and net inflows $793 million post‑quarter.

Notable Quotes

“Given the strength of our financial results and our confidence in Sprott’s future… our Board has declared a third quarter dividend of $0.40 per share, an increase of 33%.” – Whitney George, CEO

All non‑material boilerplate, forward‑looking disclaimer text, and investor contact information have been omitted for brevity.