AVINO SILVER & GOLD MINES LTD (ASM): Financial results for Q2 2026
AVINO SILVER & GOLD MINES LTD (ASM) furnished an SEC Form 6-K — earnings release. EXHIBIT 99.1 ASM : TSX/NYSE American Avino Silver & Gold Mines Ltd. Suite 900-570 Granville Street Vancouver, BC V6C 3P1 T (604) 682 3701 F (604) 682 3600 avino.com August 12, 2026 AVINO REPORTS Q2 2026 FINANCIAL RESULTS Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE
How this was made
The 30-second read
Why it matters
Earnings beat with strong cash flow may attract momentum traders and prompt analyst upgrades.
Market read
First‑report earnings release with material beat; actionable for short‑term traders.
What to watch
Drill program progress and upcoming reserve updates may affect long-term outlook.
Avino Reports Q2 2026 Financial Results
Q2 revenue, mine operating income, net income, EBITDA, operating cash flow and cash balances all increased year over year, supported by a $68.90 average realized silver price. Lower silver-equivalent production, sharply lower copper output and higher unit costs were the principal offsets.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenuesother | $ 26,787 (in 000’s) | – | 23 % |
| Mine operating incomeother | $ 12,971 (in 000’s) | – | 27 % |
| Net incomeother | $ 10,899 (in 000’s) | – | 281 % |
| Earnings per share - dilutedother | $ 0.06 | – | 200 % |
| Earnings before interest, taxes and amortization (“EBITDA”)non-GAAP | $ 12,559 (in 000’s) | – | 69 % |
| Adjusted earningsnon-GAAP | $ 11,125 (in 000’s) | – | 26 % |
| Adjusted earnings per sharenon-GAAP | $ 0.06 | – | -% |
| Cash provided by operating activitiesother | $ 13,260 (in 000’s) | – | 59 % |
| Operating cash flow before working capital adjustmentsnon-GAAP | $ 8,254 (in 000’s) | – | 32 % |
| Mine operating cash flow before taxesnon-GAAP | $ 14,419 (in 000’s) | – | 28 % |
| Operating tonnes milledother | 184,293 | – | -4 % |
| Silver ounces producedother | 267,305 | – | -6 % |
| Gold ounces producedother | 2,178 | – | 23 % |
| Copper pounds producedother | 729,929 | – | -50 % |
| Silver equivalent ouncesother | 534,945 | – | -17 % |
| Silver equivalent payable ounces soldother | 387,142 | – | -43 % |
| Average realized silver price per ounce soldother | $ 68.90 | – | 104 % |
| Cash cost per silver equivalent payable ouncenon-GAAP | $ 28.62 | – | 89 % |
| All-in sustaining cost per silver equivalent payable ouncenon-GAAP | $ 38.75 | – | 85 % |
| Cash cost per tonne processednon-GAAP | $ 74.72 | – | 42 % |
| All-in sustaining cost per tonne processednon-GAAP | $ 96.01 | – | 30 % |
| Revenues, YTD 2026other | $ 66,220 (in 000’s) | – | 63 % |
| Mine operating income, YTD 2026other | $ 36,389 (in 000’s) | – | 75 % |
| Net income, YTD 2026other | $ 26,812 (in 000’s) | – | 216 % |
| Earnings per share - diluted, YTD 2026other | $ 0.15 | – | 150 % |
| EBITDA, YTD 2026non-GAAP | $ 38,090 (in 000’s) | – | 122 % |
| Adjusted earnings, YTD 2026non-GAAP | $ 35,462 (in 000’s) | – | 91 % |
| Cash provided by operating activities, YTD 2026other | $ 26,892 (in 000’s) | – | 195 % |
| Operating cash flow before working capital adjustments, YTD 2026non-GAAP | $ 26,943 (in 000’s) | – | 98 % |
| Mine operating cash flow before taxes, YTD 2026non-GAAP | $ 41,132 (in 000’s) | – | 81 % |
| Cashother | $ 144,183 (in 000’s) | 4 % | 42 % |
| Working capitalnon-GAAP | $ 140,774 (in 000’s) | 1 % | 41 % |
| La Preciosa development productionother | 100,658 AgEq ounces | 59% | – |
| La Preciosa development production silverother | 84,806 silver oz | – | – |
| La Preciosa development production goldother | 182 gold oz | – | – |
| Lost Time Incident Frequency Rateother | 4.82 per 1,000,000 hours worked | – | – |
| Total reportable lost time incident rateother | 0.10 | – | – |
2026 outlook
- Noteplanned 15,000 metres of exploration for 2026
Capital returns
- The TSX accepted the Company’s notice of intention to repurchase for cancellation up to an aggregate of 8,423,566 common shares, or approximately 5% of the Company’s issued and outstanding shares.
What drove it
- 54% of Q2 2026 revenues were derived from silver production at an average realized price of $68.90 per ounce.
- The average realized silver price per ounce sold was $ 68.90, compared with $ 33.85 in Q2 2025, a 104 % increase.
- Mill Circuit 2 becoming available supported above-plan extraction, haulage and processing of La Preciosa mineralized development material.
- La Preciosa development production increased 59% from Q1 2026 and contributed 100,658 AgEq ounces.
- The Company intentionally processed lower-grade development ore during elevated metal prices that otherwise would have been stockpiled.
Concerns
- Silver equivalent ounces were 534,945, down 17 % from Q2 2025.
- Silver equivalent payable ounces sold were 387,142, down 43 % from Q2 2025.
- Copper pounds produced were 729,929, down 50 % from Q2 2025.
- Cash cost per silver equivalent payable ounce was $ 28.62, up 89 % from Q2 2025, while all-in sustaining cost per silver equivalent payable ounce was $ 38.75, up 85 %.
- Cash cost per tonne processed was $ 74.72, up 42 %, while all-in sustaining cost per tonne processed was $ 96.01, up 30 %.
- Operating tonnes milled were 184,293, down 4 % from Q2 2025, and silver ounces produced were 267,305, down 6 %.
- The release identifies risks including fluctuations in silver, gold and copper prices, Mexican Peso exchange rates, regulatory and political developments, additional capital requirements, ore reserve, grade and recovery-rate variation, and mining operational hazards.
What to watch
- Progress toward the planned 15,000 metres of exploration for 2026. The Company reported 6,591 meters completed at the end of Q2, with two drills turning at La Preciosa.
- Results from exploration and step-out holes at high-priority vein intersections and projections at La Preciosa, which are largely outside the current resource model.
- Development and processing progress at La Preciosa, including the contribution from Mill Circuit 2 and the processing of lower-grade development ore.
- The planned normal course issuer bid permitting repurchases of up to an aggregate of 8,423,566 common shares.
- Unit costs and metal production following Q2 increases in cash costs and all-in sustaining costs and declines in silver-equivalent output and copper production.
Balance sheet and cash flow
- Cash was $ 144,183 (in 000’s) at June 30, 2026, compared with $ 138,646 (in 000’s) at March 31, 2026 and $ 101,724 (in 000’s) at December 31, 2025.
- Working capital was $ 140,774 (in 000’s) at June 30, 2026, compared with $ 139,724 (in 000’s) at March 31, 2026 and $ 99,562 (in 000’s) at December 31, 2025.
- Cash provided by operating activities was $ 13,260 (in 000’s), an increase of 59 % from Q2 2025.
- Capital expenditures in the first six months of 2026 totaled $6.5 million, compared to $5.8 million in the first half of 2025. The Company stated that the increase was primarily spent on mine development and equipment for future production mining operations at La Preciosa.
Analysis
Avino reported higher Q2 financial results despite lower production and sales volumes. Revenues were $ 26,787 (in 000’s), up 23 %, while mine operating income rose 27 % to $ 12,971 (in 000’s). Net income increased 281 % to $ 10,899 (in 000’s), and diluted earnings per share were $ 0.06 compared with $ 0.02. EBITDA was $ 12,559 (in 000’s), up 69 %, and adjusted earnings were $ 11,125 (in 000’s), up 26 %.
The realized silver price was the key reported revenue driver. The average realized silver price per ounce sold was $ 68.90, a 104 % increase from $ 33.85, and 54% of Q2 revenues came from silver production. At the same time, operating volumes declined: silver equivalent ounces were down 17 %, payable silver equivalent ounces sold were down 43 %, and copper pounds produced were down 50 %. Gold ounces produced increased 23 %, while operating tonnes milled declined 4 % and silver ounces produced declined 6 %.
Costs moved higher year over year. Cash cost per silver equivalent payable ounce increased 89 % to $ 28.62 and all-in sustaining cost per silver equivalent payable ounce increased 85 % to $ 38.75. Per-tonne cash cost increased 42 % to $ 74.72 and all-in sustaining cost per tonne increased 30 % to $ 96.01. Management attributed the La Preciosa throughput increase to Mill Circuit 2 becoming available, while noting that intentional processing of lower-grade development ore during elevated metal prices offset that throughput benefit.
Cash generation and liquidity strengthened. Cash provided by operating activities increased 59 % to $ 13,260 (in 000’s), and operating cash flow before working capital adjustments increased 32 % to $ 8,254 (in 000’s). Cash was $ 144,183 (in 000’s) at June 30, 2026, compared with $ 138,646 (in 000’s) at March 31, 2026. The Company also received TSX acceptance for a normal course issuer bid of up to an aggregate of 8,423,566 common shares, and first-half capital expenditures totaled $6.5 million, primarily for La Preciosa mine development and equipment.
La Preciosa remains the central operating focus. Development production increased 59% from Q1 2026, contributing 100,658 AgEq ounces, and the Company reported 6,591 meters of drilling completed toward its planned 15,000 metres of exploration for 2026. No revenue, margin, operating-expense or tax-rate outlook was provided in the release, so the disclosed forward metric is the exploration plan rather than financial guidance.
Management, verbatim
During the second quarter, the Company continued its main focus of advancing La Preciosa while free cash flow from Avino further adds to the balance sheet quarter after quarter.
David Wolfin, President and CEO
With La Preciosa development material doubling in mine and mill throughput during the quarter, our transformational growth plan toward becoming a Mexico-focused mid-tier primary silver producer remains on track, and we continue working on delivering long-term value for our shareholders.
David Wolfin, President and CEO
Not in the filing
stated, not guessed- Gross profit and gross margin
- Operating income other than mine operating income
- Operating expenses
- Income tax expense and tax rate
- Debt and net debt
- Free cash flow
- Dividend amount or dividend declaration
- Quarterly segment revenue
- Revenue, cost, margin or earnings guidance
- Prior-quarter comparisons for Q2 financial and production metrics other than cash and working capital
- A numerical Q1 2026 value for La Preciosa development production
- Formal IFRS financial-statement line-item reconciliations for the non-IFRS measures
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Avino Silver & Gold Mines Ltd. filed a Form 6‑K reporting its Q2 2026 financial results.
Ticker impact
Q2 2026 earnings release showing 281% net income increase and higher revenues.
Potential price rally of 5-10% over the next few days.
Revenue up 23% and net income surged 281% with higher cash flow, indicating operational momentum.
Market effects
Silver and gold mining sector may see broader uplift from Avino's results.
Positive for Canadian mining stocks listed on TSX.
Limited; primarily affects junior precious metals producers.
Counterpoint
Higher costs per ounce could pressure margins if metal prices soften.
Key entities
- CompanyAvino Silver & Gold Mines Ltd.
Precious metals producer listed on TSX and NYSE American (ticker ASM).
