Goldmoney Inc. Reports Results for the Quarter Ended June 30 2024

Rhea-AI Summary

Goldmoney Inc. (TSX: XAU) (US: XAUMF) has reported strong financial results for Q1 fiscal 2025, ending June 30, 2024. Key highlights include:

- Group Tangible Capital increased by 6.1% QoQ to $133.8 million
- Group Tangible Capital per Share rose 6.7% QoQ to $10.24
- Adjusted Net Income grew 57.1% QoQ to $6.6 million
- The company completed its NCIB, repurchasing and cancelling 865,909 shares since June 30, 2023

These results demonstrate Goldmoney's strong financial position and commitment to shareholder value. The company's performance metrics show consistent growth in tangible equity and earnings per share, both including and excluding its MENE subsidiary.

Positive

• Group Tangible Capital increased by 6.1% quarter-over-quarter to $133.8 million
• Group Tangible Capital per Share rose 6.7% quarter-over-quarter to $10.24
• Adjusted Net Income grew 57.1% quarter-over-quarter to $6.6 million
• Completed share repurchase program, cancelling 865,909 shares since June 30, 2023
• Tangible equity per share exclusive of MENE increased to $8.67, up 8% quarter-over-quarter

Negative

• Reduction in total shares outstanding from 13,926,000 in Q1 2024 to 13,060,000 in Q1 2025

Toronto, Ontario--(Newsfile Corp. - July 31, 2024) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) ("Goldmoney" or the "Company"), today announced financial results for the fiscal 2025 first quarter for the period ended June 30, 2024. All amounts are expressed in Canadian dollars unless otherwise noted.

Financial Highlights

• Group Tangible Capital of $133.8 million, an increase of 6.1% QoQ

• Group Tangible Capital per Share of $10.24, an increase of 6.7% QoQ

• Group Tangible Capital per Share excluding MENE of $8.67 per share an increase of 8% QoQ

• Adjusted Net Income of $6.6 million, an increase of 57.1% QoQ

• During the period ended June 30, 2024, the Company reached the limits under its current NCIB following the repurchase and cancellation of 85,000 shares. In total, the company repurchased and cancelled 865,909 shares since June 30, 2023.

Quarterly Performance Metrics Table

($000s, except earnings per share)	2025	2024				2023
	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2
Key Performance Metrics (Balance Sheet)
Shares outstanding	13,060	13,137	13,449	13,777	13,926	13,996	14,861	14,916
Shareholder equity	147,984	141,178	173,761	172,602	173,224	172,123	182,707	173,079
Tangible equity inclusive of MENE	133,780	126,100	147,078	143,019	143,475	142,203	143,118	133,319
Tangible equity exclusive of MENE	113,217	105,457	113,059	108,396	108,756	107,599	108,367	98,079
Tangible equity per share ($CAD)	10.24	9.60	10.94	10.38	10.30	10.16	9.63	8.94
Tangible equity per share exclusive of MENE	8.67	8.03	8.41	7.87	7.81	7.69	7.29	6.58
Key Performance Metrics (Operational)
Net income (loss)	5,132	(32,095)	6,005	2,009	1,995	(4,050)	10,341	3,734
Total comprehensive income (loss)	6,077	(30,640)	7,391	627	1,651	(4,053)	10,321	3,789
Adjstments for revaluations, FX, stock	550	34,518	(1,792)	2,077	1,449	6,291	(7,249)	(113)
compensation, and non-cash items
Non-IFRS adjusted net income	6,627	3,878	5,598	2,704	3,100	2,238	3,072	3,675
Key Performance Metrics (Earnings per Share)
Basic earnings (loss) per share	0.39	(2.42)	0.44	0.15	0.14	(0.27)	0.69	0.25
Diluted earnings (loss) per share	0.38	(2.42)	0.44	0.14	0.14	(0.27)	0.69	0.25
Non-IFRS adjusted net income per share	0.51	0.30	0.42	0.20	0.22	0.16	0.21	0.25

 

About Goldmoney Inc.

Goldmoney Inc. (TSX: XAU) specializes in the investment and custody of enduring real assets. Through its subsidiaries, the Company offers precious metals trading services to clients, including secure custody and storage solutions. Goldmoney also maintains diversified interests in property investment and jewelry manufacturing. For more information about Goldmoney, visit goldmoney.com.

Financial Information and IFRS Standards

The selected financial information included in this release is qualified in its entirety by, and should be read together with, the Company's consolidated financial statements for the fiscal year ended March 31, 2024 and prepared in accordance with IFRS Accounting Standards ("IFRS") and the corresponding management's discussion and analysis ("MD&A"), which are available under the Company's profile on SEDAR at www.sedarplus.ca.

Non-IFRS Measures

This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company's performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company's operating results.

Tangible Capital is a non-IFRS measure. This figure excludes from total shareholder equity (i) intangibles, and (ii) goodwill, and is useful to demonstrate the tangible capital employed by the business.

Non-IFRS Adjusted Net Income is a non-IFRS measure, defined as total comprehensive income (loss) adjusted for non-cash and non-core items which include, but is not limited to, revaluation of precious metal inventories, fair value movements, stock-based compensation, depreciation and amortization, foreign exchange fluctuations and gains and losses on investments.

For a full reconciliation of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled "Reconciliation of Non-IFRS Financial Measures" in the Company's MD&A for the year ended March 31, 2024.

Media and Investor Relations inquiries:

Sean Ty
Chief Financial Officer
Goldmoney Inc.
+1 647 250 7098

Forward-Looking Statements

This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "may", "potential" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.

Forward-looking information in this release includes, but is not limited to, statements with respect to: financial performance and growth of the Company's business; expected results of operations, the market for the Company's products and services and competitive conditions; and the establishment of a real estate investment strategy. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company's operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company's common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company's operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company's ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; the ability to identify and complete the acquisition of suitable real estate investment opportunities on terms which are economic or at all; effectiveness of the Company's risk management and internal controls; use of the Company's services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company's most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218498

FAQ

What was Goldmoney's (XAUMF) Adjusted Net Income for Q1 fiscal 2025?

Goldmoney's Adjusted Net Income for Q1 fiscal 2025 was $6.6 million, representing a 57.1% increase quarter-over-quarter.

How much did Goldmoney's (XAUMF) Group Tangible Capital per Share increase in Q1 2025?

Goldmoney's Group Tangible Capital per Share increased by 6.7% quarter-over-quarter to $10.24 in Q1 2025.

How many shares did Goldmoney (XAUMF) repurchase and cancel since June 30, 2023?

Goldmoney repurchased and cancelled a total of 865,909 shares since June 30, 2023, completing its current NCIB program.

What was Goldmoney's (XAUMF) Tangible equity per share excluding MENE in Q1 2025?

Goldmoney's Tangible equity per share excluding MENE was $8.67 in Q1 2025, representing an 8% increase quarter-over-quarter.