Q4 2025 Endeavour Silver Corp Earnings Call Transcript

Feb 27, 2026 / 06:00PM GMT

Release Date Price: $13.9 (-0.93%)

Transcript

Key Points

Positve

Endeavour Silver Corp (EXK) achieved a 48% increase in silver equivalent production in 2025 compared to 2024, reaching 11 million ounces.
The company reported record revenue of $468 million in 2025, up 115% from 2024.
Endeavour Silver Corp (EXK) successfully raised $350 million through a convertible debt offering, strengthening its balance sheet.
The acquisition of Kolpa and the commencement of commercial production at Terronera were significant milestones in 2025.
The company is well-positioned to benefit from high silver prices, with silver trading above $90 and gold above $5,000.

Negative

Operations at Terronera were temporarily impacted by security events in Mexico, causing a pause in production.
Direct operating costs per ton increased by 8% in 2025, primarily due to elevated costs at Terronera.
All-in sustaining costs were elevated due to higher royalties, duties, and third-party ore purchases.
Endeavour Silver Corp (EXK) faced realized losses from derivative contracts and higher financing costs.
The company experienced electrical disruptions at Terronera, impacting throughput and recoveries.

Operator

Thank you, for standing by. This is the conference operator. Welcome to the Endeavour Silver fourth-quarter and Year-end 2025 financial results conference call. (Operator Instructions) The conference is being recorded. (Operator Instructions)

I would now like to turn the conference over to Allison Pettit, Vice President, Investor Relations. Please go ahead.

Allison Pettit

Endeavour Silver Corp - Director, Investor Relations

Thank you, operator, and good morning, everyone. Before we get started, I ask that you view our MD&A for cautionary language regarding forward-looking statements and the risk factors pertaining to these statements. Our MD&A and financial statements are available on our website at edrsilver.com. On today's call, we have Dan Dickson, Endeavour Silver's CEO; Elizabeth Senez, our CFO, and Don Gray, Endeavour's COO. Following Dan's formal remarks, we will open the call for questions.

And now over to Dan.

Dan Dickson

Endeavour Silver Corp - Chief Executive Officer, Director

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