Avino Silver posted record full-year 2025 revenue of $92.2 million with Q4 gross margin climbing to 58% from 43% last year. Net income reached $26.6 million for the year, including $10.5 million in Q4, marking the highest quarterly and annual profitability in company history.

Cash costs per silver equivalent payable ounce rose 9% to $16.13 and all-in sustaining costs increased 15% to $23.75, driven by inflationary pressures in labor and fuel. The company’s growth strategy requires substantial capital outlays, which may result in share dilution if external funding is needed.

Avino is evaluating an open-pit scenario at La Preciosa and has engaged SRK Engineering to revise the mine plan while enhancing underground development with new equipment. Recent acquisition of outstanding royalties and contingent payments on the project has improved its economics and operational flexibility.

Avino maintains a robust liquidity position with $102 million in cash and $99 million in working capital and is planning a mill expansion within the next one to two years. The company has used ATM facilities strategically and remains focused on organic growth from its existing asset base.