Vox Royalty Reports Q2 2026 Results And Declares Quarterly Dividend
Vox reports a halved stream margin in Q2 compared to Q1, with non-cash revaluations supporting the quarter’s earnings per share.
Vox Royalty Corp. reported a net income of $17.0 million, or $0.25 per share, for the second quarter of 2026, a significant turnaround from the $0.4 million net loss recorded in the same period last year. The quarter’s results included an $11.0 million non-cash revaluation gain on the offtake-stream portfolio. Royalty and net precious metal receipts totaled $6.2 million, up from $2.8 million in Q2 2025. This comprised $4.6 million in net precious metal income derived from 54,999 ounces delivered, yielding an average margin of $83.26 per ounce, while royalty revenue decreased to $1.6 million from $2.8 million in the prior year period.
Operational metrics for the quarter showed a gross profit of $4.1 million, income from operations of $7.6 million, and operating cash flow of $4.7 million. Adjusted EBITDA reached $9.7 million, or $0.14 per share, compared to $1.1 million, or $0.01 per share, in Q2 2025. For the first half of 2026, net income stood at $41.5 million, or $0.60 per share, which included $27.5 million of non-cash revaluation gains. First-half royalty and net precious metal receipts were $22.2 million, with adjusted EBITDA reaching $22.4 million.
The company divested the capped Federation royalty for A$8 million and the capped i-80 offtake stream for $4.8 million. Cash on hand at the end of the quarter reached a record $31.1 million, and the $40 million credit facility remained fully undrawn. Vox Royalty reiterated its 2026 guidance for royalty and net precious metal receipts at $32 million to $37 million, excluding $10.4 million in divestment proceeds. Additionally, the Board declared a quarterly dividend of $0.015 per share, payable on October 14, 2026.
Vox Royalty Corp. (VOXR) released its second-quarter results, though the update did not introduce significant new developments. Key asset-level news, including the Bonikro mine-life extension and Los Filos land access, had already been disclosed in June 2026. Additionally, the company’s divestments were announced prior to the Q2 earnings release.
The company did not provide new guidance, merely reiterating its prior outlook. The financial report presented mixed results: while the company reported record cash and strong first-half operating cash flow, the Q2 net precious metal margin declined to $83.26/oz from $179.41/oz in the first quarter. Reported net income was heavily supported by non-cash fair-value gains rather than pure operating performance.
Vox Royalty Corp. is a returns-focused mining royalty and streaming company with a portfolio comprising over 70 royalties and streams. The company holds interests in 10 producing assets and 27 development-stage assets, with primary exposure to gold and select base and industrial metals including copper and iron ore.
Flagship and material assets include: - Bonikro, Côte d'Ivoire: 50% uncapped gold offtake stream. - Los Filos, Mexico: 50% gold offtake stream, capped at 1.1 million ounces delivered. - Greenstone, Canada: two gold offtake streams. - Blyvoor, South Africa: 100% gold offtake stream capped at 2.7 million ounces. - Kanmantoo, Australia: 2.5% NSR, reducing to 0.5% after 85,000 tonnes of copper. - Janet Ivy, Australia: A$0.50/dry tonne uncapped. - Red Hill, Australia: 4.0% uncapped gross revenue royalty.
The company’s management team includes CEO and Chairman Kyle Floyd, President and Chief Investment Officer Spencer Cole, and CFO Pascal Attard. Vox Royalty Corp. is included in the Russell 2000 and Russell 3000 indexes and the VanEck Junior Gold Miners ETF.