Metalla Royalty Financials

MTA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Metalla Royalty (MTA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MTA FY2025 2026-04-22

Metalla’s economics are balance-sheet driven: a large asset base is starting to throw off cash faster than accounting losses suggest.

With revenue nearly doubling to $11.7M in FY2025 while total assets stayed near $271M, the business showed better asset monetization rather than balance-sheet expansion. More telling, operating cash flow swung from -$2.6M to $4.4M even as net income remained negative and financing cash flow turned negative, which means reported losses were materially less cash-hungry than they looked in FY2024.

Because assets are more than 20x annual revenue and debt-to-equity is only 0.05x, this is not a heavily levered income-statement story; it is a capital-backed model where small changes in cash yield on the asset base can move results meaningfully. Liabilities of $19.1M against equity of $251.8M mean the drag from ongoing losses is showing up mainly in retained earnings, not in balance-sheet stress.

The current ratio recovered from 0.9x in FY2024 to 2.4x in FY2025, reversing the short-term squeeze visible in the prior two years. With cash still near $9.8M and long-term debt down to $12.2M, the revenue jump did not depend on adding leverage, and recent share-count movement was modest.

Financial Health Signals

Financial Profile 42/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Metalla Royalty's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

100

Metalla Royalty's revenue surged 99.6% year-over-year to $11.7M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Metalla Royalty carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Metalla Royalty's current ratio of 2.41 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Metalla Royalty generates a -1.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 7/100. This is up from -2.2% the prior year.

Piotroski F-Score Neutral

6/9

Metalla Royalty passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-1.04x

For every $1 of reported earnings, Metalla Royalty generates $-1.04 in operating cash flow ($4.4M OCF vs -$4.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$11.7M

YoY+99.6%

5Y CAGR+33.5%

Metalla Royalty generated $11.7M in revenue in fiscal year 2025. This represents an increase of 99.6% from the prior year.

EBITDA

N/A

Net Income

-$4.2M

YoY+22.6%

Metalla Royalty reported -$4.2M in net income in fiscal year 2025. This represents an increase of 22.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$9.8M

YoY+0.8%

5Y CAGR+22.2%

Metalla Royalty held $9.8M in cash against $12.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

93M

YoY+0.9%

5Y CAGR+21.5%

Metalla Royalty had 93M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-36.1%

YoY+57.0pp

5Y CAGR+123.6pp

Metalla Royalty's net profit margin was -36.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 57.0 percentage points from the prior year.

Return on Equity

-1.7%

YoY+0.5pp

5Y CAGR+7.5pp

Metalla Royalty's ROE was -1.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

MTA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$11.7M+99.6%	$5.9M+28.0%	$4.6M+90.4%	$2.4M-18.7%	$3.0M+7.3%	$2.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$669K+1186.5%	$52K-96.2%	$1.4M+3140.5%	$42K+164.5%	-$65K+76.7%	-$280K
Net Income	-$4.2M+22.6%	-$5.5M+6.2%	-$5.8M+46.6%	-$10.9M-4.8%	-$10.4M-135.8%	-$4.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q2'20	Q2'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MTA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$270.9M+0.8%	$268.7M-2.7%	$276.0M+110.9%	$130.9M+16.2%	$112.6M+110.5%	$53.5M
Current Assets	$15.4M+19.1%	$13.0M-26.6%	$17.7M+84.5%	$9.6M+46.5%	$6.5M+62.8%	$4.0M
Cash & Equivalents	$9.8M+0.8%	$9.7M-31.1%	$14.1M+209.7%	$4.6M+94.3%	$2.3M-34.9%	$3.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$4.4M+74.0%	$2.5M-10.5%	$2.8M+86.7%	$1.5M+15.7%	$1.3M+631.3%	$178K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$19.1M+14.8%	$16.6M-28.1%	$23.1M+87.7%	$12.3M+2.1%	$12.1M+121.6%	$5.4M
Current Liabilities	$6.4M-53.8%	$13.9M-32.6%	$20.6M+214.9%	$6.5M+500.1%	$1.1M-23.2%	$1.4M
Long-Term Debt	$12.2M-3.6%	$12.6M-8.0%	$13.7M+29.7%	$10.6M+0.7%	$10.5M+198.4%	$3.5M
Total Equity	$251.8M-0.1%	$252.0M-0.3%	$252.9M+113.3%	$118.6M+17.9%	$100.6M+109.2%	$48.1M
Retained Earnings	-$73.1M-6.2%	-$68.8M-8.6%	-$63.4M-12.5%	-$56.3M-24.1%	-$45.4M-53.7%	-$29.5M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q2'20	Q2'19
Total Assets	$270.9M+0.8%	$268.7M-2.7%	$276.0M+110.9%	$130.9M+16.2%	$112.6M+41.3%	$79.7M+49.0%	$53.5M+9.5%	$48.9M
Current Assets	$15.4M+19.1%	$13.0M-26.6%	$17.7M+84.5%	$9.6M+46.5%	$6.5M-36.7%	$10.3M+157.1%	$4.0M-0.8%	$4.0M
Cash & Equivalents	$9.8M+0.8%	$9.7M-31.1%	$14.1M+209.7%	$4.6M+94.3%	$2.3M-55.8%	$5.3M+47.2%	$3.6M+2.0%	$3.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$4.4M+74.0%	$2.5M-10.5%	$2.8M+86.7%	$1.5M+15.7%	$1.3M-28.3%	$1.8M+919.3%	$178K-28.7%	$249K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$19.1M+14.8%	$16.6M-28.1%	$23.1M+87.7%	$12.3M+2.1%	$12.1M+125.8%	$5.3M-1.9%	$5.4M+56.0%	$3.5M
Current Liabilities	$6.4M-53.8%	$13.9M-32.6%	$20.6M+214.9%	$6.5M+500.1%	$1.1M-38.5%	$1.8M+25.0%	$1.4M+14.8%	$1.2M
Long-Term Debt	$12.2M-3.6%	$12.6M-8.0%	$13.7M+29.7%	$10.6M+0.7%	$10.5M+243.3%	$3.1M-13.1%	$3.5M+64.2%	$2.1M
Total Equity	$251.8M-0.1%	$252.0M-0.3%	$252.9M+113.3%	$118.6M+17.9%	$100.6M+35.2%	$74.4M+54.8%	$48.1M+5.9%	$45.4M
Retained Earnings	-$73.1M-6.2%	-$68.8M-8.6%	-$63.4M-12.5%	-$56.3M-24.1%	-$45.4M-29.8%	-$35.0M-18.4%	-$29.5M-25.2%	-$23.6M

MTA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.4M+271.3%	-$2.6M-596.7%	$518K+1580.0%	-$35K-111.7%	$299K+125.0%	-$1.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.1M-8.8%	-$1.9M+45.6%	-$3.6M-173.7%	-$1.3M+96.4%	-$36.0M-945.6%	-$3.4M
Financing Cash Flow	-$2.2M-569.2%	$478K-96.3%	$12.8M+238.2%	$3.8M-88.4%	$32.8M+599.3%	$4.7M
Dividends Paid	N/A	$0-100.0%	$1.2M	$0	$0-100.0%	$1.2M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q2'20	Q2'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MTA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-36.1%+57.0pp	-93.1%+33.9pp	-127.0%+325.9pp	-452.9%-101.8pp	-351.1%-191.4pp	-159.7%
Return on Equity	-1.7%+0.5pp	-2.2%+0.1pp	-2.3%+6.9pp	-9.2%+1.1pp	-10.4%-1.2pp	-9.2%
Return on Assets	-1.6%+0.5pp	-2.0%+0.1pp	-2.1%+6.2pp	-8.3%+0.9pp	-9.3%-1.0pp	-8.3%
Current Ratio	2.41+1.5	0.93+0.1	0.86-0.6	1.46-4.5	5.99+3.2	2.83
Debt-to-Equity	0.050.0	0.050.0	0.05-0.0	0.09-0.0	0.10+0.0	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q2'20	Q2'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.41+1.5	0.93+0.1	0.86-0.6	1.46-4.5	5.99+0.2	5.82+3.0	2.83-0.4	3.27
Debt-to-Equity	0.050.0	0.050.0	0.05-0.0	0.09-0.0	0.10+0.1	0.04-0.0	0.07+0.0	0.05
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Metalla Royalty's annual revenue?

Metalla Royalty (MTA) reported $11.7M in total revenue for fiscal year 2025. This represents a 99.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Metalla Royalty's revenue growing?

Metalla Royalty (MTA) revenue grew by 99.6% year-over-year, from $5.9M to $11.7M in fiscal year 2025.

Is Metalla Royalty profitable?

No, Metalla Royalty (MTA) reported a net income of -$4.2M in fiscal year 2025, with a net profit margin of -36.1%.

How much debt does Metalla Royalty have?

As of fiscal year 2025, Metalla Royalty (MTA) had $9.8M in cash and equivalents against $12.2M in long-term debt.

What is Metalla Royalty's net profit margin?

Metalla Royalty (MTA) had a net profit margin of -36.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Metalla Royalty's return on equity (ROE)?

Metalla Royalty (MTA) has a return on equity of -1.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Metalla Royalty's operating cash flow?

Metalla Royalty (MTA) generated $4.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Metalla Royalty's total assets?

Metalla Royalty (MTA) had $270.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Metalla Royalty have outstanding?

Metalla Royalty (MTA) had 93M shares outstanding as of fiscal year 2025.

What is Metalla Royalty's current ratio?

Metalla Royalty (MTA) had a current ratio of 2.41 as of fiscal year 2025, which is generally considered healthy.

What is Metalla Royalty's debt-to-equity ratio?

Metalla Royalty (MTA) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Metalla Royalty's return on assets (ROA)?

Metalla Royalty (MTA) had a return on assets of -1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Metalla Royalty's Piotroski F-Score?

Metalla Royalty (MTA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Metalla Royalty's earnings high quality?

Metalla Royalty (MTA) has an earnings quality ratio of -1.04x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Metalla Royalty?

Metalla Royalty (MTA) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.