Also trades as: MSA.TO (TSX) · $vol 2M

$6.93

+0.07 (+1.01%)

Weekly Expected Move ±4.9%

$6 $7 $7 $7 $8

OTC · Basic Materials · Gold · Tech Score Buy · Power 63 · $2.0B mcap · 25M float · 0.083% daily turnover · Short 43% of daily vol

Revenue

$859M +59.4% ▲

5Y CAGR: +10.7%

Gross Profit

$343M +86.3% ▲

5Y CAGR: +13.6%

Operating Income

$257M +76.6% ▲

5Y CAGR: +15.4%

Net Income

$156M +79.9% ▲

5Y CAGR: +19.7%

EPS (Diluted)

$0.52 +79.3% ▲

5Y CAGR: +9.5%

EBITDA

$318M +110.5% ▲

5Y CAGR: +22.5%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$496M	$529M	$447M	$539M	$859M
YoY Growth	-3.7%	+6.6%	-15.4%	+20.4%	+59.4%
Cost of Revenue	$371M	$388M	$302M	$355M	$516M
Gross Profit	$125M	$141M	$145M	$184M	$343M
Gross Margin	25.2%	26.7%	32.5%	34.2%	39.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$9M	$12M	$9M	$10M	$24M
Operating Expenses	$51M	$57M	$33M	$38M	$85M
Operating Income	$84M	$97M	$112M	$146M	$257M
Operating Margin	16.9%	18.4%	25.1%	27.1%	30.0%
Interest Expense	$5M	$10M	$9M	$8M	$9M
Income Before Tax	$77M	$45M	$103M	$142M	$249M
Tax Expense	$34M	$41M	$28M	$55M	$93M
Net Income	$43M	$4M	$17M	$87M	$156M
Net Margin	8.7%	0.8%	3.8%	16.1%	18.1%
EPS (Diluted)	$0.19	$0.02	$0.06	$0.29	$0.52
EBITDA	$87M	$102M	$113M	$151M	$318M
Shares Outstanding	265M	300M	300M	300M	299M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$141M	$150M	$161M	$182M	$200M	$264M	$292M	$280M
Cost of Revenue	$86M	$96M	$96M	$107M	$118M	$160M	$149M	$181M
Gross Profit	$55M	$54M	$64M	$75M	$82M	$104M	$143M	$100M
Gross Margin	38.8%	36.3%	40.0%	41.1%	41.0%	39.4%	48.9%	35.6%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$4M	-$3M	$6M	$5M	$6M	$7M	$6M	$6M
Operating Expenses	$6M	$21M	$7M	$6M	$6M	$7M	$7M	$9M
Operating Income	$49M	$34M	$57M	$69M	$76M	$97M	$135M	$91M
Operating Margin	34.5%	22.5%	35.4%	37.6%	38.2%	36.8%	46.3%	32.4%
Interest Expense	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$3M
Income Before Tax	$45M	$38M	$54M	$64M	$77M	$39M	$127M	$77M
Tax Expense	$17M	$15M	$16M	$20M	$22M	$29M	$40M	$29M
Net Income	$29M	$23M	$38M	$44M	$55M	$10M	$88M	$47M
Net Margin	20.2%	15.4%	23.7%	23.8%	27.5%	3.6%	30.0%	16.9%
EPS (Diluted)	$0.10	$0.08	$0.13	$0.15	$0.18	$0.03	$0.29	$0.16
EBITDA	$59M	$49M	$56M	$66M	$93M	$113M	$153M	$108M
Shares Outstanding	300M	300M	300M	300M	299M	296M	299M	295M

MNSAF OTC