Earnings call transcript: Elemental misses Q3 2026 estimates as growth story stays intact

Elemental missed Q3 2026 earnings estimates with revenue of $20.81 million, falling short of the $24.5 million forecast. Despite the earnings miss, management highlighted record year-to-date growth, with revenue up 153% and adjusted EBITDA increasing by about 170% from a year earlier. The company reported $23 million in cash and $210 million in debt after recent acquisitions, expecting to save $6 million annually in G&A costs and seeing leverage fall over time.

Major portfolio changes, including the Vizsla Silver acquisition and closure of the Orion portfolio deal, contributed to the increase in debt but also expanded the royalty and streaming portfolio.

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