Sprott Focus Trust, Inc. (FUND) Income Statement
FUND 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFUND revenue and net income
Where FUND's revenue goes
2025Each bar shows an amount and its share of revenue. FUND kept 247.9% of revenue as net income.
FUND profit margins
FUND growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.1% | — | +9.4% | +9.7% |
| Gross profit | +11.4% | — | +6.5% | +10.9% |
| Operating income | +2,595.7% | — | +32.1% | — |
| Net income | +2,641.9% | — | +32.1% | — |
| EPS (diluted) | +905.6% | — | +25.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FUND quarterly EPS vs estimates
Sprott Focus beat the analyst EPS estimate in 6 of the last 7 quarters.
FUND income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.8M | $19.8M | $19.1M | $0 | $52.1M | $13.9M | $58.6M | $0 | $36.0M | $12.8M |
| Cost of revenue | $2.7M | $2.7M | $2.6M | $2.6M | $2.8M | $2.2M | $2.2M | $2.5M | $2.4M | $1.8M |
| Gross profit | $19.1M | $17.1M | $16.4M | −$442,372 | $52.1M | $13.9M | $58.6M | −$38.6M | $36.0M | $11.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $346,198 | $336,723 | $374,275 | $369,057 | $335,642 | $376,218 | $235,949 | $510,667 | $551,463 | $130,000 |
| Total operating expenses | −$35.0M | $334,029 | $27.9M | $368,702 | $427,956 | $476,222 | $361,193 | $519,935 | $490,551 | $29,999 |
| Operating income | $54.0M | $2.0M | $27.5M | −$811,074 | $51.7M | $13.4M | $58.2M | −$39.1M | $35.5M | $39.1M |
| Interest income | $198,245 | $217,360 | $133,012 | $29,545 | — | $3,892 | $30,769 | $37,182 | $17,403 | — |
| Interest expense | — | — | — | — | $0 | $0 | $0 | $43.5M | $33.2M | $35.8M |
| Income before taxes | $54.0M | $2.0M | $27.5M | −$811,074 | $51.7M | $13.4M | $58.2M | −$39.1M | $35.5M | $39.0M |
| Income taxes | — | — | −$167,894 | −$262,729 | −$267,808 | −$217,853 | −$179,572 | −$161,141 | −$63,011 | −$22,815 |
| Net income | $54.0M | $2.0M | $27.5M | −$811,074 | $51.7M | $13.4M | $58.2M | −$39.1M | $35.5M | $39.0M |
| EBITDA | $54.0M | $2.0M | $27.5M | −$811,074 | $51.7M | $13.4M | $58.2M | −$39.1M | $35.5M | $39.1M |
| EPS (diluted) | $1.81 | $0.18 | $0.92 | −$0.04 | $2.51 | $0.59 | $3.10 | −$2.11 | $2.08 | $2.40 |
| Gross margin | 87.4% | 86.4% | 86.2% | — | 100.0% | 100.0% | 100.0% | — | 100.0% | 85.6% |
| Operating margin | 247.9% | 10.1% | 144.5% | — | 99.2% | 96.6% | 99.4% | — | 98.6% | 304.3% |
| Net margin | 247.9% | 9.9% | 144.1% | — | 99.2% | 96.6% | 99.4% | — | 98.6% | 303.9% |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Jun '23 | Dec '22 | Jun '22 | Dec '21 | Jun '21 | Dec '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.8M | $12.6M | $9.1M | $10.6M | $9.2M | $11.0M | $8.1M | $8.7M | $7.1M | $13.2M | $15.6M | $5.1M |
| Cost of revenue | $1.7M | $1.4M | $1.3M | $1.4M | $1.3M | $1.3M | $1.3M | $1.3M | $1.4M | $1.4M | $1.4M | $1.2M |
| Gross profit | $30.1M | $11.2M | $7.9M | $9.3M | $7.9M | $9.7M | $6.8M | $7.4M | $5.7M | $11.8M | $14.2M | $4.0M |
| Total operating expenses | −$4.3M | −$35.0M | $14,516 | $3.9M | −$11.2M | −$10.0M | −$1.1M | −$17.1M | $31.0M | $1 | $3 | $9 |
| Operating income | $34.4M | $46.2M | $7.9M | $5.4M | −$3.4M | $19.7M | $7.9M | $24.5M | −$25.3M | $7.2M | $44.5M | $44.2M |
| Income before taxes | $34.3M | $46.2M | $7.9M | $5.4M | −$3.4M | $19.6M | $7.8M | $24.5M | −$1 | $0 | $2 | $2 |
| Income taxes | — | — | — | — | −$3.4M | $1 | $0 | $1 | −$1 | $0 | $2 | $2 |
| Net income | $34.3M | $46.2M | $7.9M | $5.4M | −$3.4M | $19.6M | $7.8M | $24.5M | $29.6M | $29.6M | $29.4M | $29.5M |
| EBITDA | $34.3M | $46.2M | $7.9M | $5.4M | −$3.4M | $19.7M | $7.9M | $24.5M | −$25.3M | $14.4M | $89.0M | $88.5M |
| EPS (diluted) | — | — | $0.26 | $0.18 | — | — | — | $0.81 | −$0.85 | $0.24 | $1.51 | $1.43 |
| Gross margin | 94.6% | 88.6% | 86.2% | 87.1% | 85.6% | 88.1% | 83.8% | 85.4% | 80.7% | 89.4% | 91.2% | 77.4% |
| Operating margin | 108.1% | 365.0% | 86.1% | 50.8% | −36.8% | 179.4% | 97.1% | 282.7% | −356.2% | 54.4% | 285.1% | 863.5% |
| Net margin | 108.1% | 365.0% | 86.0% | 50.5% | −36.9% | 178.9% | 96.9% | 282.4% | 417.2% | 223.9% | 188.2% | 575.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FUND's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FUND financial results
In fiscal year 2025 (ended December 31, 2025), Sprott Focus reported revenue of $21.8 million, up 10.1% from the year before. It had net income of $54.0 million (up 2,641.9%), a net profit margin of 247.9%. Diluted earnings per share came to $1.81. Over five years revenue grew at an average rate of 9.4% a year.
See the FUND stock overview for the latest quote and news, or the FUND chart for price history and technical indicators.
FUND income statement FAQ
What is Sprott Focus's annual revenue?
Sprott Focus reported total revenue of $21.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 10.1% from $19.8 million the previous year.
Is Sprott Focus profitable?
Yes. Sprott Focus reported net income of $54.0 million in fiscal 2025, a net profit margin of 247.9%; its operating margin was 247.9%.
What is Sprott Focus's gross margin?
Sprott Focus's gross margin was 87.4% in fiscal 2025: for every $100 of revenue, Sprott Focus kept $87 after the direct cost of its products and services.
How fast is Sprott Focus growing?
Revenue grew 9.4% a year on average over the last five fiscal years, from $13.9 million to $21.8 million.
What are Sprott Focus's earnings per share?
Sprott Focus earned $1.81 per diluted share in fiscal 2025, compared with $0.18 a year earlier.
When does Sprott Focus's fiscal year end?
Sprott Focus's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.