Galiano Gold (TSX: GAU) on Thursday evening posted their fourth quarter and full year 2025 financial results. Results were headlined by a Q4 2025 gross revenue of $159.7 million, up from $64.6 million in Q4 2024.
The jump was driven by higher gold ounces sold at 38,276 versus 24,673 last year, plus a higher gross realized price of $4,164 per ounce versus $2,609 per ounce a year ago.
The jump trickled down to the bottomline where net income came in at $16.8 million in Q4 versus a $0.9 million profit in Q4 2024. On an adjusted basis, net income was $40.0 million versus $5.1 million last year.
For full-year 2025, revenue was $447.8 million versus $231.3 million in 2024. However, the year still swung to a $29.3 million loss from a $6.1 million net income last year, mainly due to higher realized and unrealized losses on gold hedging instruments and the recognition of current and deferred income tax expenses related to the Asanko Gold Mine.
Adjusted EBITDA expanded to $85.5 million in Q4 from $21.2 million in Q4 2024. For 2025, adjusted EBITDA rose to $182.2 million from $71.3 million.
Cash flow from operating activities was $55.8 million in Q4, up from $13.8 million last year, with management attributing the increase primarily to higher realized gold prices and full-year consolidation in 2025.
Galiano ended 2025 with $108.3 million cash and cash equivalents versus $105.8 million at year-end 2024.
The quarter produced 37,574 gold ounces, up from 28,508 ounces in Q4 2024. Full-year production was 121,191 ounces, which was said to be within revised guidance and up 5% versus 2024.
The AISC this quarter came in at $2,033 per ounce compared to $2,638 in Q4 2024; full-year, AISC was $2,233 per ounce, and within the revised guidance range.
For FY 2026, the Asanko Gold Mine is guided to produce 140,000 to 160,000 ounces at an AISC of $2,000 to $2,300 per ounce using a $4,500 per ounce gold price assumption.
Galiano Gold last traded at $3.67 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
