Revenue growth accelerated to $7.2M in 2026Q1, enabling the company to achieve a 36.7% operating margin and a 76.3% gross margin.
| Sales/Revenue | 19.65M | 15.61M | 10.1M | 3.05M | 3.94M | 191.99K | 0 |
| Revenue Growth % | 89.91% | 54.51% | 231.46% | -22.72% | 1954.26% | - | - |
| Cost of Goods Sold | 5.23M | 3.68M | 3.47M | 1.49M | 1.76M | 168.66K | 45 |
| COGS % of Revenue | - | 23.56% | 34.37% | 48.95% | 44.52% | 87.85% | - |
| Gross Profit | 14.42M | 11.93M | 6.63M | 1.56M | 2.19M | 23.33K | -45 |
| Gross Margin % | 73.4% | 76.44% | 65.63% | 51.05% | 55.48% | 12.15% | - |
| Gross Profit Growth % | - | 79.94% | 326.16% | -28.88% | 9278.48% | 51944.44% | - |
| Operating Expenses | 10.46M | 10.24M | 10.7M | 10.33M | 19.63M | 12.6M | 140.59K |
| OpEx % of Revenue | - | 65.59% | 105.87% | 338.94% | 497.59% | 6565.25% | - |
| Selling, General & Admin | 10.49M | 10.16M | 10.56M | 10.33M | 19.55M | 12.59M | 140.59K |
| SG&A % of Revenue | - | 65.09% | 104.54% | 338.94% | 495.77% | 6558.73% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | -23K | 78K | 134K | 0 | 0 | 12.52K | 0 |
| Operating Income | 3.96M | 1.69M | -4.07M | -8.78M | -17.44M | -12.58M | -140.63K |
| Operating Margin % | 20.14% | 10.85% | -40.24% | -287.89% | -442.11% | -6553.09% | - |
| Operating Income Growth % | - | 141.67% | 53.68% | 49.68% | -38.59% | -8846.42% | - |
| EBITDA | 8M | 4.43M | -782K | -7.76M | -15.57M | -9.92M | -140.45K |
| EBITDA Margin % | 40.69% | 28.38% | -7.74% | -254.66% | -394.73% | -5166.97% | - |
| EBITDA Growth % | 2545.26% | 666.5% | 89.93% | 50.14% | -56.93% | -6963.1% | - |
| D&A (Non-Cash Add-back) | 4.04M | 2.74M | 3.28M | 1.01M | 1.87M | 2.66M | 180 |
| EBIT | 5.18M | 3.93M | -1.34M | -8.78M | -17.44M | -12.58M | -140.63K |
| Net Interest Income | -6.4M | -8.27M | -8.04M | -1.84M | -633K | 67.35K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 67.35K | 0 |
| Interest Expense | 6.4M | 8.27M | 8.04M | 1.84M | 633K | 0 | 0 |
| Other Income/Expense | -4.68M | -6.03M | -5.32M | -24.29M | 76K | -2.42M | -1 |
| Pretax Income | -720K | -4.33M | -9.38M | -33.06M | -17.36M | -15.01M | -140.63K |
| Pretax Margin % | -3.66% | -27.77% | -92.89% | -1084.68% | -440.19% | -7816.11% | - |
| Income Tax | 391K | -205K | -5.97M | -6.13M | -15K | 2.42M | 5 |
| Effective Tax Rate % | -54.31% | 4.73% | 63.65% | 18.55% | 0.09% | -16.16% | -0% |
| Net Income | -1.11M | -4.13M | -3.41M | -26.76M | -17.35M | -17.43M | -140.63K |
| Net Margin % | -5.65% | -26.46% | -33.76% | -877.82% | -439.81% | -9079.13% | - |
| Net Income Growth % | 65.86% | -21.08% | 87.25% | -54.25% | 0.49% | -12294.93% | - |
| Net Income (Continuing) | -1.11M | -4.13M | -3.41M | - | -17.35M | -17.43M | - |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.00 | -0.02 | -0.02 | -0.18 | -0.14 | -0.52 | -0.00 |
| EPS Growth % | 57.22% | -18% | 88.89% | -28.57% | 73.08% | - | - |
| EPS (Basic) | - | -0.02 | -0.02 | -0.18 | -0.14 | -0.52 | -0.00 |
| Diluted Shares Outstanding | 240.95M | 174.99M | 159.52M | 144.73M | 128.23M | 33.56M | 40.83M |
| Basic Shares Outstanding | 229.39M | 174.99M | 159.52M | 144.73M | 128.23M | 33.56M | 40.83M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Operator production timeline dependency
According to recent financial disclosures, Gold Royalty Corp. achieved a significant revenue acceleration to $7.2M in 2026Q1, representing a 128.7% year-over-year growth rate as the company transitions from an acquisition-heavy phase toward realizing production-based royalties from its core North American assets.
The sharp uptick in top-line performance suggests that the company's strategic focus on Tier-1 jurisdictions is beginning to yield tangible results as underlying projects reach commercial production. Investors should monitor whether this growth trajectory remains sustainable or if it is merely a function of initial production ramp-ups at specific sites like the Odyssey mine.
As reported in quarterly filings, the company's operating margin reached 36.7% in 2026Q1, marking a notable improvement from the negative operating margins observed throughout 2024, yet the firm continues to grapple with high fixed corporate overhead relative to its current revenue base.
While the recent positive operating income indicates a potential inflection point in scalability, the historical volatility in SG&A expenses suggests that management has yet to achieve a fully optimized cost structure. Future margin expansion will likely depend on the company's ability to grow royalty receipts without necessitating a proportional increase in administrative headcount.
Based on the provided income statement data, the company's net income remains inconsistent, with a 2026Q1 profit of $1.8M following a series of quarterly losses, largely driven by the interplay between revenue recognition and significant non-cash depletion charges inherent to the royalty business model.
The discrepancy between operating income and net income warrants further investigation into the impact of non-cash amortization and potential impairment charges on the bottom line. Analysts should focus on cash-based metrics to better assess the underlying health of the business, as reported net income may not accurately reflect the company's true cash-generating capacity.
Data from recent periods indicates that Gold Royalty Corp. has successfully stabilized its SG&A expenses at approximately $2.8M per quarter, which, when paired with rising revenues, has allowed the company to finally move toward consistent gross margin levels exceeding 76%.
The company's ability to maintain a relatively flat SG&A profile while revenue grows suggests an emerging discipline in managing corporate overhead. However, the reliance on third-party operators for production means that any cost-related issues at the mine level could indirectly impact the company's future royalty receipts and overall profitability.
Quick answers to the most common questions about buying GROY stock.
For fiscal year 2025, Gold Royalty Corp. (GROY) reported total revenue of $15.6M.
Gold Royalty Corp. (GROY) reported a net loss of $4.1M for the fiscal year ending 2025.
Gold Royalty Corp. (GROY) reported an operating income of $1.7M, resulting in an operating profit margin of 10.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Gold Royalty Corp. (GROY) generated $11.9M in gross profit for the year, representing a gross profit margin of 76.4%. This demonstrates the company's core pricing power and production efficiency.