Gold Royalty Q4 EBITDA Jumps 167% to $3.2M, 62% GEO Growth Guidance
Gold Royalty Corp posted Q4 2025 adjusted EBITDA of $3.2M, up 167% from a year earlier, with total revenue of $5.2M (1,255 gold equivalent ounces) and full-year 2025 revenue up 38% to $17.8M. The company ended 2025 debt-free with over $12M cash, upsized its credit facility to $150M, and guided for 7,500–9,300 GEO (62% growth) in 2026, though shares fell sharply on a 7% gold price pullback.
1. Q4 2025 Financial Results
Gold Royalty Corp achieved record Q4 adjusted EBITDA of $3.2 million, up from $1.2 million a year earlier and $2.5 million in Q3 2025. Total revenue reached $5.2 million, representing 1,255 gold equivalent ounces, while full-year 2025 revenue climbed 38% to $17.8 million and adjusted EBITDA doubled to $9.8 million.
2. Strengthened Balance Sheet and Credit Facility
The company closed 2025 with over $12 million in cash, zero debt and a fully undrawn credit line. In February 2026, the credit facility was amended and upsized to $150 million, enhancing financial flexibility for future acquisitions.
3. 2026 Guidance and Market Reaction
Gold Royalty forecasts 7,500–9,300 gold equivalent ounces in 2026, a 62% increase from 2025, and projects 28,000–34,000 GEO by 2030. Despite the bullish outlook, shares tumbled after a 7% pullback in gold prices dented investor sentiment.