Torrent Capital Reports Preliminary Q3 2025 Financial Results and Portfolio Update

Rhea-AI Summary

Torrent Capital (OTC:TRRPF) reported preliminary Q3 2025 results with a NAV of $33.5M or $0.88 per share as of September 30, 2025. Total comprehensive income for the quarter was approximately $4.8M, a 208% year‑over‑year increase. NAV rose $0.13 per share (+17%) in Q3, outperforming the S&P 500 (+8%) but trailing the TSX Small Cap Index (+20%).

The quarter's drivers included strong resource and technology investments, realized digital asset gains of $1.2M, unrealized SOL gains of $2.2M, and staking yield of 1,725 SOL (~$396,000). Results are preliminary and unaudited; final filings expected by Nov 13, 2025. Monthly NAV reporting begins Q4 2025.

Positive

• NAV per share $0.88 as of September 30, 2025
• Quarterly total comprehensive income approximately $4.8M
• NAV increased 17% in Q3 2025
• Realized SOL gains approximately $1.2M in Q3 2025
• Staking yield of 1,725 SOL (~$396,000) since Jan 2025

Negative

• Preliminary unaudited results subject to change before Nov 13, 2025
• Long digital asset exposure of ~30,000 SOL presents concentration risk
• NAV Q3 gain trailed TSX Small Cap Index (17% vs 20%)
• Partial disposition of Wildbrain generated only ~$100,000 realized gains

Halifax, Nova Scotia--(Newsfile Corp. - October 9, 2025) - Torrent Capital Ltd., (TSXV: TORR), ("Torrent" or the "Company") today announced its preliminary financial results for its third quarter ended September 30, 2025, along with an initial update on portfolio performance. As of September 30, 2025, Torrent reports a Net Asset Value ("NAV") per share of approximately $0.88. All preliminary estimates reported are unaudited and expressed in Canadian Dollars.

Preliminary Financial Highlights

• Total comprehensive income for the quarter was approximately $4.8 million, representing a 208% increase from the comparative prior year quarter. All figures reported are net of taxes and operating expenses.

• As at September 30, 2025, Torrent had a NAV of $33.5 million (or $0.88 per share) compared with $28.7 million (or $0.75 per share) at June 30, 2025.

• The $0.13 per share increase in NAV represents a 17% gain during the third quarter, outperforming the S&P500 which increased 8%, and trailing the TSX Small Cap Index which rose 20% over the same period.

• The increase in NAV and comprehensive income was primarily driven by strong performance of Torrent's investments in the resource and technology sectors.

• Since inception in 2017, Torrent's NAV increased at a compound annual growth rate of 16%, compared to the S&P500 and TSX Small Cap Index, which increased at rates of 13% and 7% respectively during the same period.

Digital Asset Portfolio

During the third quarter, the price of Solana (SOL) appreciated contributing to Torrent's outperformance as the largest holding in its portfolio. Since establishing a digital asset portfolio in January 2025, staking Solana has generated a yield of 1,725 SOL tokens, representing approximately $396,000 in value.

During the quarter, Torrent recorded realized gains of approximately $1.2 million from dispositions of its SOL holdings and an unrealized gain of approximately $2.2 million. As of September 30, 2025, Torrent maintains long exposure to approximately 30,000 SOL through a combination of staked holdings and option contracts.

In view of evolving market conditions, Torrent has taken steps to strategically reduce its SOL exposure in order to manage risk, reduce volatility and improve diversification. Going forward, the Company will adjust its digital asset holdings based on prevailing market conditions.

Equity Portfolio

Torrent's equity portfolio appreciated in value during Q3, benefiting from diverse holdings across geographies, company stages and sectors.

Torrent initiated a new core holding in Lemonade Inc. during the quarter. Lemonade is a USA publicly listed insurtech firm that leverages artificial intelligence to streamline operations such as claims processing and policy issuance. As of September 30, 2025, the position reflected an unrealized gain of 29% or approximately $540,000. Torrent views Lemonade as an early-stage disruptor with significant potential in the $2 trillion dollar global insurance market. Other USA-listed technology holdings in the portfolio include SentinelOne, Inc. and Advanced Micro Devices, Inc.

Kneat.com, Inc. remains one of Torrent's largest and best performing holdings. In Q3, Kneat announced three new global clients in the pharmaceutical and manufacturing sectors and reported another quarter of strong financial results.

Torrent's resource portfolio outperformed in Q3, supported by robust gold prices. The Company maintained positions in exploration-stage resource companies through the sector's bear market and is positioned to benefit as market conditions continue to improve. With widening government deficits and rising global uncertainties, tailwinds have re-emerged in the resource sector, creating a growth driver for the portfolio.

During the quarter, Torrent reduced the size of its position in Wildbrain Ltd., a long-term holding that has underperformed relative to the broader portfolio since initiation of the position. As of September 30, 2025, Torrent has an unrealized gain of approximately $173,000 on the position. During the quarter, Torrent recorded realized gains of approximately $100,000 from the partial disposition of its Wildbrain holdings.

Argentia Capital Update

Torrent maintains an investment in Argentia Capital Inc. ("ACI"), a private company focused on infrastructure-linked opportunities at the Port of Argentia, Newfoundland. ACI has equity positions in high-potential port projects and opportunities to generate predictable cash flow through royalties, streaming income, and operational participation. ACI's strategy is rooted in disciplined capital allocation and long-duration partnerships, with the goal of delivering stable, compounding returns while supporting regional economic development. Future revenue streams will be used by Torrent to invest in portfolio companies and as working capital.

Cautionary Note on Preliminary Results

The financial figures presented in this release are preliminary, unaudited results and are subject to change following the completion of the Company's standard closing procedures and review. Final results will be included in the Company's unaudited financial statements and MD&A for the quarter ended September 30, 2025, that will be filed on SEDAR+ on or before November 13, 2025. Beginning in Q4 2025, Torrent will enhance transparency for investors by publishing its NAV per share in monthly news releases.

About Torrent Capital Ltd.

Torrent Capital is a publicly traded Investment Issuer that actively manages a portfolio of public equities, digital assets, and private investments. The Company invests in companies that are due to experience accelerated growth or are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above-market returns while providing transparency, daily liquidity and a modest fee profile compared with competing investment products.

For further information, please contact:

Contact:
Wade Dawe
Chief Executive Officer
Phone: 1 902 536 1976

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The reader is referred the Company's annual financial reporting for a discussion of risks and uncertainties.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269905

FAQ

What is Torrent Capital's preliminary NAV per share as of September 30, 2025 (TRRPF)?

Torrent reported a preliminary NAV of $33.5M or $0.88 per share as of September 30, 2025.

How much did Torrent report for Q3 2025 total comprehensive income (TRRPF)?

Torrent reported approximately $4.8M total comprehensive income for Q3 2025, a 208% YoY increase.

What were Torrent's digital asset gains and SOL exposure in Q3 2025 (TRRPF)?

Torrent recorded ~$1.2M realized SOL gains and ~$2.2M unrealized SOL gains, maintaining ~30,000 SOL exposure.

When will Torrent file final Q3 2025 financial results for TRRPF?

Final unaudited financial statements and MD&A will be filed on SEDAR+ on or before Nov 13, 2025.

When will Torrent begin publishing monthly NAV updates for TRRPF shareholders?

Torrent will start publishing its NAV per share in monthly news releases beginning Q4 2025.