Sprott Q2 earnings surge as net income doubles to $34.3M, but AUM dips 15% on precious metals selloff
SII sits 70% above its 52-week low of $61.94.
Summary
Sprott's Q2 2026 net income more than doubled to $34.3 million ($1.33/share) on higher average AUM, even as quarter-end AUM fell 15% to $55.6 billion due to a sharp correction in gold and silver prices.
Key Events · Earnings and Guidance · SII
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Net Income Doubles
Driven by higher average AUM and carried interest crystallization, Q2 2026 net income reached $34.3 million ($1.33 per share), up from $13.5 million ($0.52 per share) in Q2 2025.
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AUM Drops 15% Sequentially
AUM fell to $55.6 billion from $65.1 billion at March 31, 2026, primarily due to market value depreciation in precious metals (gold -14%, silver -22%) and $377 million in net redemptions.
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Management Fees Up 72%
Management fees rose to $76.4 million from $44.4 million in Q2 2025, reflecting a 70% increase in average AUM to $63.9 billion, which more than offset the quarter-end decline.
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Adjusted EBITDA Nearly Doubles
Adjusted EBITDA was $50.8 million ($1.97 per share), up from $25.5 million ($0.99 per share) in Q2 2025, with margin expanding to 71% from 61%.
Analysis · SII · Finance
Sprott's Q2 2026 results show a sharp earnings increase driven by higher average AUM and carried interest crystallization, despite a 15% sequential AUM decline from the precious metals correction. Net income more than doubled year-over-year to $34.3 million, and adjusted EBITDA nearly doubled to $50.8 million. The AUM drop was largely market-driven, with gold falling 14% and silver 22% in the quarter, but management fees still rose 72% due to the higher average AUM base. The company remains highly cash-generative, with $189.8 million in cash and no debt drawn on its $75 million credit facility. The dividend was maintained at $0.40 per share. The key risk is continued commodity price weakness, which could further pressure AUM and fee revenue.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.6% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SII was trading at $105.39 on NYSE in the Finance sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $61.94 to $169.63. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.