Income Statement TRX Gold Corporation

Equities

TRX

CA87283P1099

Gold

Market Closed - Toronto S.E. Other stock markets 04:00:00 2026-04-17 pm EDT			5-day change	1st Jan Change
2.010 ^CAD	+4.69%		-4.74%	+58.27%

Apr. 15	TRX Gold Corporation, Q2 2026 Earnings Call, Apr 15, 2026
Apr. 15	TRX Gold Swings to Adjusted Net Income in Q2 YoY	MT

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Published financial data: TRX GOLD CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: August	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	-	15.09M	38.32M	41.16M	57.61M
Total Revenues	-	15.09M	38.32M	41.16M	57.61M
Cost of Goods Sold, Total	-	5.59M	18.87M	21.03M	29.88M
Gross Profit	-	9.5M	19.45M	20.12M	27.73M
Selling General & Admin Expenses, Total	9.03M	8.92M	7.63M	6.89M	7.52M
Exploration / Drilling Costs, Total	669K	-	-	-	-
Depreciation & Amortization - (IS)	-	122K	1.26M	2.2M	3.79M
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses	-4.56M	2.33M	-3.3M	-1.02M	-1.26M
Other Operating Expenses, Total	5.14M	11.37M	5.58M	8.06M	10.05M
Operating Income	-5.14M	-1.87M	13.87M	12.06M	17.68M
Interest Expense, Total	-38K	-14K	-1.71M	-2.01M	-2.36M
Net Interest Expenses	-38K	-14K	-1.71M	-2.01M	-2.36M
Currency Exchange Gains (Loss)	-78K	167K	212K	284K	-431K
Other Non Operating Income (Expenses)	-	-134K	-	-	-
EBT, Excl. Unusual Items	-5.26M	-1.85M	12.38M	10.34M	14.89M
Gain (Loss) On Sale Of Assets	-27K	-36K	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-432K
EBT, Incl. Unusual Items	-5.28M	-1.89M	12.38M	10.34M	14.46M
Income Tax Expense	-	436K	5.33M	6.83M	7.89M
Earnings From Continuing Operations	-5.28M	-2.32M	7.04M	3.51M	6.57M
Net Income to Company	-5.28M	-2.32M	7.04M	3.51M	6.57M
Minority Interest	1.28M	-3.89M	-4.8M	-3.98M	-5.88M
Net Income - (IS)	-4M	-6.22M	2.25M	-470K	687K
Net Income to Common Incl Extra Items	-4M	-6.22M	2.25M	-470K	687K
Net Income to Common Excl. Extra Items	-4M	-6.22M	2.25M	-470K	687K
Per Share Items
Net EPS - Basic	-0.02	-0.02	0.01	-0	0
Basic EPS - Continuing Operations	-0.02	-0.02	0.01	-0	0
Basic Weighted Average Shares Outstanding	232M	267M	282M	290M	293M
Net EPS - Diluted	-0.02	-0.02	0.01	-0	0
Diluted EPS - Continuing Operations	-0.02	-0.02	0.01	-0	0
Diluted Weighted Average Shares Outstanding	232M	267M	289M	290M	295M
Normalized Basic EPS	-0.01	-0.02	0.01	0.01	0.01
Normalized Diluted EPS	-0.01	-0.02	0.01	0.01	0.01
Supplemental Items
EBITDA	-4.72M	-1.75M	15.23M	14.27M	20.67M
EBITA	-5.01M	-1.87M	13.87M	12.06M	17.68M
EBIT	-5.14M	-1.87M	13.87M	12.06M	17.68M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	-	-23.12	43.08	66.04	54.58
Current Foreign Taxes	-	436K	1.04M	1.61M	1.73M
Total Current Taxes	-	436K	1.04M	1.61M	1.73M
Deferred Foreign Taxes	-	-	4.29M	5.22M	6.16M
Total Deferred Taxes	-	-	4.29M	5.22M	6.16M
Normalized Net Income	-2.01M	-5.05M	2.94M	2.48M	3.43M
Interest on Long-Term Debt	-	-	-	3K	351K
Supplemental Operating Expense Items
General and Administrative Expenses	9.03M	8.92M	7.63M	6.89M	7.52M
Exploration/Drilling Costs	669K	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	2.93M	3.11M	2.5M	1.74M	2.25M
Stock-Based Comp., Other (Total)	-	-	196K	283K	214K
Total Stock-Based Compensation	2.93M	3.11M	2.7M	2.03M	2.46M

Fiscal Period: August	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	13.45M	8.48M	7.63M	8.33M	7.77M
Total Cash And Short Term Investments	13.45M	8.48M	7.63M	8.33M	7.77M
Other Receivables	460K	2.54M	3.14M	1.96M	3.82M
Total Receivables	460K	2.54M	3.14M	1.96M	3.82M
Inventory	1.18M	3.63M	4.96M	6.25M	13.02M
Prepaid Expenses	254K	544K	796K	539K	1.02M
Other Current Assets, Total	78K	662K	667K	707K	218K
Total Current Assets	15.42M	15.85M	17.19M	17.78M	25.84M
Gross Property Plant And Equipment	42.93M	53.85M	68.1M	84.34M	99.07M
Accumulated Depreciation	-1.83M	-2.22M	-4.04M	-6.53M	-11.57M
Net Property Plant And Equipment	41.1M	51.63M	64.06M	77.82M	87.49M
Other Long-Term Assets, Total	-	4.36M	2.95M	3.26M	3.92M
Total Assets	56.52M	71.84M	84.2M	98.86M	117M
Liabilities
Accounts Payable, Total	4.76M	-	-	-	-
Accrued Expenses, Total	500K	2.35M	-	-	-
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	-	-	65K	401K	1.2M
Current Income Taxes Payable	-	436K	1.08M	1.41M	753K
Unearned Revenue Current, Total	-	1.86M	1.55M	1.65M	3.41M
Other Current Liabilities	2.15M	12.6M	15.12M	17.82M	19.18M
Total Current Liabilities	7.41M	17.25M	17.81M	21.28M	24.54M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	-	-	36K	942K	1.61M
Unearned Revenue Non Current	-	621K	178K	-	-
Deferred Tax Liability Non Current	-	-	4.29M	9.5M	15.67M
Other Non Current Liabilities	2.68M	2.82M	833K	1.09M	1.15M
Total Liabilities	10.09M	20.69M	23.14M	32.82M	42.96M
Common Stock, Total	158M	164M	165M	166M	168M
Retained Earnings	-117M	-124M	-121M	-122M	-121M
Comprehensive Income and Other	7.29M	8.52M	10.51M	10.85M	10.48M
Total Common Equity	47.96M	48.8M	53.9M	54.9M	57.27M
Minority Interest	-1.53M	2.36M	7.16M	11.14M	17.02M
Total Equity	46.42M	51.16M	61.06M	66.04M	74.29M
Total Liabilities And Equity	56.52M	71.84M	84.2M	98.86M	117M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	255M	276M	278M	280M	285M
ECS Total Common Shares Outstanding	255M	276M	278M	280M	285M
Book Value / Share	0.19	0.18	0.19	0.2	0.2
Tangible Book Value	47.96M	48.8M	53.9M	54.9M	57.27M
Tangible Book Value Per Share	0.19	0.18	0.19	0.2	0.2
Total Debt	0	0	101K	1.34M	2.81M
Net Debt	-13.45M	-8.48M	-7.53M	-6.99M	-4.96M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-1.53M	2.36M	7.16M	11.14M	17.02M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	712K	2.64M	3.36M	4.53M	9.09M
Inventories - Work In Process, Total	350K	210K	689K	837K	988K
Inventories - Finished Goods, Total	-	253K	52K	55K	11K
Inventories - Others	117K	524K	859K	824K	2.93M
Machinery, Total	4.23M	8.47M	24.69M	31.99M	37.55M
Full Time Employees	-	117	130	153	241

Fiscal Period: August	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	-4M	-2.32M	2.25M	-470K	687K
Depreciation & Amortization - CF	286K	122K	1.36M	2.26M	3.85M
Amortization of Goodwill and Intangible Assets - (CF)	134K	-	-	-	-
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	420K	122K	1.36M	2.26M	3.85M
Amortization of Deferred Charges, Total - (CF)	665K	-	-	-	-
(Gain) Loss From Sale Of Asset	-	36K	-	-	-
Stock-Based Compensation (CF)	2.93M	3.11M	2.7M	2.03M	2.46M
Other Operating Activities, Total	-6.6M	5.5M	5.71M	8.82M	14.18M
Change In Accounts Receivable	87K	420K	-48K	184K	-1.39M
Change In Inventories	-453K	-2.16M	-868K	-929K	-5.57M
Change In Accounts Payable	-316K	1.18M	5.34M	2.82M	3.31M
Change In Income Taxes	-	436K	983K	389K	-767K
Change in Other Net Operating Assets	-254K	-3.37M	-96K	217K	-484K
Cash from Operations	-7.52M	2.96M	17.33M	15.32M	16.28M
Capital Expenditure	-9.15M	-12.69M	-17.79M	-13.68M	-13.7M
Sale of Property, Plant, and Equipment	-	229K	-	-	-
Other Investing Activities, Total	2.52M	-1.4M	-85K	-311K	-657K
Cash from Investing	-6.62M	-13.87M	-17.87M	-13.99M	-14.36M
Short Term Debt Issued, Total	1M	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	1M	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-27K	-	-115K	-72K	-1.23M
Total Debt Repaid	-27K	-	-115K	-72K	-1.23M
Issuance of Common Stock	24.4M	7.15M	110K	-	-
Repurchase of Common Stock	-	-	-	-553K	-778K
Other Financing Activities, Total	-1.84M	-1.2M	-297K	-	-475K
Cash from Financing	23.53M	5.94M	-302K	-625K	-2.48M
Net Change in Cash	9.39M	-4.97M	-847K	702K	-561K
Supplemental Items
Cash Interest Paid	-	-	-	-	351K
Cash Income Tax Paid (Refund)	-	-	62K	1.22M	994K
Levered Free Cash Flow	-7.07M	-6.2M	-7.82M	138K	-3.98M
Unlevered Free Cash Flow	-7.05M	-6.19M	-6.75M	1.4M	-2.51M
Change In Net Working Capital	-1.29M	-4.43M	1.69M	-3.25M	6.17M
Net Debt Issued / Repaid	973K	-	-115K	-72K	-1.23M

Fiscal Period: August	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	-6.79	-1.82	11.11	8.24	10.23
Return on Total Capital	-8.41	-2.39	15.44	11.73	15.3
Return On Equity %	-14.82	-4.76	12.56	5.52	9.36
Return on Common Equity	-10.96	-12.85	4.38	-0.86	1.22
Margin Analysis
Gross Profit Margin %	-	62.95	50.76	48.89	48.13
SG&A Margin	-	59.1	19.91	16.74	13.05
EBITDA Margin %	-	-11.57	39.75	34.66	35.88
EBITA Margin %	-	-12.38	36.2	29.31	30.69
EBIT Margin %	-	-12.38	36.2	29.31	30.69
Income From Continuing Operations Margin %	-	-15.38	18.38	8.53	11.4
Net Income Margin %	-	-41.18	5.87	-1.14	1.19
Net Avail. For Common Margin %	-	-41.18	5.87	-1.14	1.19
Normalized Net Income Margin	-	-33.46	7.67	6.03	5.95
Levered Free Cash Flow Margin	-	-41.09	-20.4	0.34	-6.92
Unlevered Free Cash Flow Margin	-	-41.04	-17.62	3.39	-4.36
Asset Turnover
Asset Turnover	-	0.24	0.49	0.45	0.53
Fixed Assets Turnover	-	0.33	0.66	0.58	0.7
Inventory Turnover (Average Inventory)	-	2.33	4.39	3.75	3.1
Short Term Liquidity
Current Ratio	2.08	0.92	0.97	0.84	1.05
Quick Ratio	1.88	0.64	0.6	0.48	0.47
Operating Cash Flow to Current Liabilities	-1.01	0.17	0.97	0.72	0.66
Days Outstanding Inventory (Average Inventory)	-	156.92	83.1	97.53	117.66
Long Term Solvency
Total Debt/Equity	-	-	0.17	2.03	3.78
Total Debt / Total Capital	-	-	0.17	1.99	3.64
LT Debt/Equity	-	-	0.06	1.43	2.16
Long-Term Debt / Total Capital	-	-	0.06	1.4	2.08
Total Liabilities / Total Assets	17.86	28.79	27.49	33.2	36.64
EBIT / Interest Expense	-135.26	-133.5	8.13	6	7.49
EBITDA / Interest Expense	-124.21	-124.79	8.92	7.12	9.12
(EBITDA - Capex) / Interest Expense	-364.92	-1.03K	-1.5	0.32	3.32
Total Debt / EBITDA	-	-	0.01	0.09	0.13
Net Debt / EBITDA	2.85	4.85	-0.49	-0.49	-0.23
Total Debt / (EBITDA - Capex)	-	-	-0.04	2.08	0.36
Net Debt / (EBITDA - Capex)	0.97	0.59	2.95	-10.83	-0.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	-	153.88	7.41	39.98
Gross Profit, 1 Yr. Growth %	-	-	104.75	3.45	37.79
EBITDA, 1 Yr. Growth %	-52.38	-63.5	-1.15K	-5.6	44.87
EBITA, 1 Yr. Growth %	-50.59	-63.15	-980.14	-13.03	46.56
EBIT, 1 Yr. Growth %	-49.29	-63.15	-980.14	-13.03	46.56
Earnings From Cont. Operations, 1 Yr. Growth %	-56.5	-56.05	-403.4	-50.18	87.07
Net Income, 1 Yr. Growth %	-65.08	55.24	-136.2	-120.89	-246.17
Normalized Net Income, 1 Yr. Growth %	-70.98	149.04	-157.96	-15.65	38.17
Diluted EPS Before Extra, 1 Yr. Growth %	-71.43	16.41	-134.22	-120.36	-243.4
Inventory, 1 Yr. Growth %	62.4	207.89	36.67	25.96	108.32
Net Property, Plant and Equip., 1 Yr. Growth %	25.55	25.63	24.06	21.48	12.43
Total Assets, 1 Yr. Growth %	48.19	27.12	17.2	17.41	18.6
Tangible Book Value, 1 Yr. Growth %	90.89	1.75	10.46	1.86	4.32
Common Equity, 1 Yr. Growth %	90.89	1.75	10.46	1.86	4.32
Cash From Operations, 1 Yr. Growth %	13.91	-139.31	486.36	-11.61	6.29
Capital Expenditures, 1 Yr. Growth %	28.99	38.78	40.12	-23.1	0.18
Levered Free Cash Flow, 1 Yr. Growth %	-38.47	-20.59	23.92	-101.77	-2.98K
Unlevered Free Cash Flow, 1 Yr. Growth %	-33.38	-20.66	12.32	-120.67	-279.88
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	-	65.13	22.62
Gross Profit, 2 Yr. CAGR %	-	-	-	45.54	19.39
EBITDA, 2 Yr. CAGR %	-2.92	-58.02	78.4	213.24	16.94
EBITA, 2 Yr. CAGR %	-52.28	-57.05	65.37	176.66	12.9
EBIT, 2 Yr. CAGR %	-51.65	-57.06	65.37	176.66	12.9
Earnings From Cont. Operations, 2 Yr. CAGR %	-52.15	-56.27	15.48	22.95	-3.46
Net Income, 2 Yr. CAGR %	-58.26	-26.37	-25.04	-72.5	-44.74
Normalized Net Income, 2 Yr. CAGR %	-62.49	-14.53	20.41	-30.08	7.96
Diluted EPS Before Extra, 2 Yr. CAGR %	-65.7	-42.33	-36.88	-73.6	-45.97
Inventory, 2 Yr. CAGR %	73.21	123.61	105.13	31.21	61.99
Net Property, Plant and Equip., 2 Yr. CAGR %	27.85	25.59	24.84	22.76	16.87
Total Assets, 2 Yr. CAGR %	40.47	37.25	22.06	17.3	18.01
Tangible Book Value, 2 Yr. CAGR %	89.37	39.37	6.01	6.07	3.08
Common Equity, 2 Yr. CAGR %	89.37	39.37	6.01	6.07	3.08
Cash From Operations, 2 Yr. CAGR %	38.37	-33.08	51.82	127.66	-3.07
Capital Expenditures, 2 Yr. CAGR %	104.51	33.8	39.45	3.8	-12.23
Levered Free Cash Flow, 2 Yr. CAGR %	95.74	-26.55	0.05	-85.18	-28.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	74.11	-23.49	-7	-51.82	-39.03
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	-	56.28
Gross Profit, 3 Yr. CAGR %	-	-	-	-	42.91
EBITDA, 3 Yr. CAGR %	10.11	-29.6	15.4	43.92	142.24
EBITA, 3 Yr. CAGR %	9.23	-56.03	11.04	33.48	123.86
EBIT, 3 Yr. CAGR %	10.11	-56.03	11.02	33.48	123.86
Earnings From Cont. Operations, 3 Yr. CAGR %	-2.01	-53.48	-16.6	-12.74	41.41
Net Income, 3 Yr. CAGR %	-9.8	-35.33	-41.89	-51.04	-52.01
Normalized Net Income, 3 Yr. CAGR %	-12.98	-29.24	-24.8	6.94	-12.26
Diluted EPS Before Extra, 3 Yr. CAGR %	-23.34	-48.46	-51.54	-56.71	-53.6
Inventory, 3 Yr. CAGR %	42.47	109.82	89.76	74.35	53.07
Net Property, Plant and Equip., 3 Yr. CAGR %	0.03	27.11	25.08	23.71	19.22
Total Assets, 3 Yr. CAGR %	10.31	35.87	30.21	20.49	17.74
Tangible Book Value, 3 Yr. CAGR %	21.71	53.95	28.98	4.61	5.48
Common Equity, 3 Yr. CAGR %	21.71	53.95	28.98	4.61	5.48
Cash From Operations, 3 Yr. CAGR %	59.29	-9.04	37.96	26.78	76.62
Capital Expenditures, 3 Yr. CAGR %	106.55	79.71	35.87	14.35	2.58
Levered Free Cash Flow, 3 Yr. CAGR %	49.75	49.77	-12.06	-73.92	-14.2
Unlevered Free Cash Flow, 3 Yr. CAGR %	70.69	38.61	-13.91	-43.67	-25.26
Compound Annual Growth Rate Over Five Years
EBITDA, 5 Yr. CAGR %	22.13	-11.72	35.77	23.29	15.84
EBITA, 5 Yr. CAGR %	0.44	-12.66	31.06	-11.31	11.78
EBIT, 5 Yr. CAGR %	0.89	-12.7	31	-11.31	11.77
Earnings From Cont. Operations, 5 Yr. CAGR %	-12.18	-13.95	6.09	-31.38	-11.57
Net Income, 5 Yr. CAGR %	-16.71	6.38	-15.08	-54.07	-43.05
Normalized Net Income, 5 Yr. CAGR %	-19.96	13.93	0.67	-29.52	-13.1
Diluted EPS Before Extra, 5 Yr. CAGR %	-26.76	-9.69	-28.1	-60.56	-49.38
Inventory, 5 Yr. CAGR %	22.53	56.38	67.11	73.89	78.12
Net Property, Plant and Equip., 5 Yr. CAGR %	1.24	6.43	10.81	25.35	21.73
Total Assets, 5 Yr. CAGR %	7.45	12.84	16.45	28.11	25.18
Tangible Book Value, 5 Yr. CAGR %	12.4	12.54	16.76	32.64	17.92
Common Equity, 5 Yr. CAGR %	12.4	12.54	16.76	32.64	17.92
Cash From Operations, 5 Yr. CAGR %	37.77	-2.04	58.41	31.29	19.79
Capital Expenditures, 5 Yr. CAGR %	71.62	60.29	78.95	44.29	14.08
Levered Free Cash Flow, 5 Yr. CAGR %	17.92	1.29	31.78	-40.43	-19.1
Unlevered Free Cash Flow, 5 Yr. CAGR %	13.21	3.24	38.52	-9.71	-25.01