Sprott Inc. (NYSE: SII) reported its year‑ended 2025 financial results, showing assets under management of $59.6 billion—an 89 % increase from $31.5 billion at the end of 2024 and a 21 % rise from $49.1 billion at the end of the third quarter. Net sales for the year reached $3.9 billion, driven largely by the Exchange Listed Products segment. The company posted a net income of $67.4 million, up $18.1 million from the $49.3 million reported in 2024, and earnings per share of $1.11, a 37 % beat over the consensus estimate of $0.81.
The Exchange Listed Products segment was the primary engine behind the $3.9 billion in net sales, while the precious‑metal portfolio delivered record returns, with gold up 64.6 %, silver 148.0 %, and platinum 127.0 % in 2025. Critical‑materials strategies also performed strongly, supported by heightened investor demand and increased government intervention amid geopolitical tensions. These dynamics helped the company maintain a high operating margin of roughly 37 % in the fourth quarter.
Sprott’s earnings were offset by a significant rise in stock‑based compensation expense, which climbed to $75.5 million in 2025 from $18.8 million in 2024 following the company’s transition to a cash‑settled plan. Despite this, the firm’s cost discipline and pricing power in its core asset‑classes allowed it to deliver a robust EPS beat and maintain profitability.
The record AUM growth reflects both market‑value appreciation of the company’s fund products and strong inflows, particularly into the Exchange Listed Products segment. The performance of precious metals, driven by inflationary pressures, geopolitical uncertainty, and the energy transition, provided a tailwind that reinforced investor confidence and attracted capital during periods of market volatility.
CEO Whitney George noted that “Sprott’s Assets Under Management were $59.6 billion as at December 31, 2025, up 21 % from September 30, 2025 and up 89 % from December 31, 2024.” He added that the year was “a banner year for precious metals” and that the company’s critical‑materials strategy “performed well in 2025, driven by growing investor demand as well as increased government intervention in response to rising geopolitical tensions.” George concluded that the firm’s expertise in precious metals and critical materials positions it to capitalize on macro‑economic trends and create value for shareholders in the years ahead.
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