Gold Royalty Delivers $17.8M Total Revenue and Guides 60% GEOs Growth in 2026
Gold Royalty reported record 2025 revenue of $15.6M (total revenue $17.8M) and 5,173 gold equivalent ounces, generating $6.2M in operating cash flow and Adjusted EBITDA of $9.8M. The company expects 7,500–9,300 GEOs in 2026 (60% growth) and forecasts 28,000–34,000 GEOs by 2030.
1. Record 2025 Financial Results
Gold Royalty achieved record annual revenue of $15.6 million and total revenue of $17.8 million in 2025, driving 5,173 GEOs for the year. Adjusted EBITDA reached $9.8 million and operating cash flow was $6.2 million, marking positive inflection in profitability and cash generation.
2. Strong Balance Sheet Position
The company exited 2025 with over $12 million in cash, zero debt and an undrawn $150 million credit facility, including a $25 million accordion feature. This robust liquidity underpins funding flexibility for new royalties and growth investments.
3. 2026 and Five-Year Growth Outlook
2026 guidance forecasts 7,500–9,300 GEOs (over 60% growth) following additions of royalties on Pedra Branca and Borborema assets. The five-year plan targets 28,000–34,000 GEOs by 2030, representing a 490% increase from 2025 levels driven by cornerstone and development-stage royalties.