Gold Royalty Corp. (GROY) Income Statement
GROY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGROY revenue and net income
Where GROY's revenue goes
2025Each bar shows an amount and its share of revenue. GROY kept −26.5% of revenue as net income.
GROY profit margins
GROY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +54.5% | +58.2% | — | — |
| Gross profit | +79.9% | +76.0% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GROY quarterly EPS vs estimates
Gold Royalty beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.01).
GROY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $15.6M | $10.1M | $3.0M | $3.9M | $191,991 | $0 |
| Cost of revenue | $3.7M | $3.5M | $943,000 | $1.8M | $168,661 | $45 |
| Gross profit | $11.9M | $6.6M | $2.1M | $2.2M | $23,330 | −$45 |
| Sales, general & admin | $10.2M | $10.6M | $10.8M | $19.6M | $12.6M | $562,344 |
| Total operating expenses | $10.2M | $10.7M | $10.9M | $19.6M | $12.6M | $140,586 |
| Operating income | $1.7M | −$4.1M | −$8.8M | −$17.4M | −$12.6M | −$140,631 |
| Interest income | $5.8M | $5.4M | $2.0M | $4.3M | $67,348 | — |
| Interest expense | $8.3M | $8.0M | $1.8M | $633,000 | $0 | $0 |
| Income before taxes | −$4.3M | −$9.4M | −$32.9M | −$17.4M | −$15.0M | −$140,631 |
| Income taxes | −$205,000 | −$6.0M | −$6.1M | −$15,000 | $2.4M | $5 |
| Net income | −$4.1M | −$3.4M | −$26.8M | −$17.3M | −$17.4M | −$140,631 |
| EBITDA | $6.7M | $1.9M | −$30.0M | −$15.6M | −$9.9M | −$140,586 |
| EPS (diluted) | −$0.03 | −$0.02 | −$0.05 | −$0.09 | −$0.28 | −$0.13 |
| Gross margin | 76.4% | 65.6% | 69.1% | 55.5% | 12.2% | — |
| Operating margin | 10.9% | −40.2% | −287.9% | −442.1% | −6,553.1% | — |
| Net margin | −26.5% | −33.8% | −877.8% | −439.8% | −9,079.1% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $7.2M | $4.5M | $4.1M | $3.8M | $3.1M | $3.4M | $2.1M | $1.8M | $2.9M | $1.0M | $797,000 |
| Cost of revenue | $2.1M | $1.7M | $1.5M | $1.3M | $686,000 | $236,000 | $2.0M | $488,000 | $425,000 | $520,000 | $249,000 | $373,000 |
| Gross profit | $4.7M | $5.5M | $3.0M | $2.8M | $3.1M | $2.9M | $1.3M | $1.6M | $1.4M | $2.4M | $767,000 | $424,000 |
| Sales, general & admin | $2.8M | $2.8M | $2.8M | $2.3M | $2.5M | $2.5M | $3.2M | $2.4M | $2.1M | $2.9M | $3.5M | $2.0M |
| Total operating expenses | $2.8M | $2.9M | $2.9M | $2.3M | $2.5M | $2.5M | $3.3M | $2.5M | $2.0M | $2.9M | $25.0M | $2.2M |
| Operating income | $1.9M | $2.6M | $105,000 | $572,000 | $646,000 | $371,000 | −$2.0M | −$923,000 | −$612,000 | −$544,000 | −$24.3M | −$1.8M |
| Interest income | — | — | $1.3M | $1.6M | $1.7M | $1.2M | $1.6M | $1.8M | — | — | — | — |
| Interest expense | $161,000 | $343,000 | $1.5M | $2.3M | $2.2M | $2.2M | $2.2M | $2.2M | $1.9M | $1.8M | $814,000 | $403,000 |
| Income before taxes | $2.8M | $2.8M | −$1.0M | −$1.3M | −$1.2M | −$817,000 | −$3.6M | −$2.7M | −$2.1M | −$979,000 | −$25.0M | −$2.3M |
| Income taxes | $1.0M | $1.0M | −$86,000 | −$210,000 | −$340,000 | $431,000 | −$371,000 | −$6.1M | $95,000 | $426,000 | −$5.6M | −$464,000 |
| Net income | $1.8M | $1.8M | −$920,000 | −$1.1M | −$829,000 | −$1.2M | −$3.2M | $3.4M | −$2.2M | −$1.4M | −$19.4M | −$1.8M |
| EBITDA | $4.7M | $4.6M | $1.8M | $1.8M | $1.5M | $1.5M | $415,000 | −$27,000 | $208,000 | $1.3M | −$23.9M | −$1.5M |
| EPS (diluted) | $0.01 | $0.01 | −$0.00 | −$0.01 | −$0.00 | −$0.01 | −$0.02 | $0.02 | −$0.01 | −$0.01 | −$0.01 | −$0.01 |
| Gross margin | 69.3% | 76.6% | 66.0% | 68.5% | 82.1% | 92.5% | 39.2% | 76.3% | 76.3% | 82.0% | 75.5% | 53.2% |
| Operating margin | 27.7% | 36.7% | 2.3% | 13.8% | 16.9% | 11.8% | −59.2% | −44.8% | −34.1% | −18.8% | −2,387.5% | −222.2% |
| Net margin | 26.5% | 24.7% | −20.4% | −27.3% | −21.7% | −39.8% | −95.2% | 166.2% | −124.6% | −48.5% | −1,905.5% | −228.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GROY's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GROY financial results
In fiscal year 2025 (ended December 31, 2025), Gold Royalty reported revenue of $15.6 million, up 54.5% from the year before. It had a net loss of $4.1 million, a net profit margin of −26.5%. Diluted earnings per share came to −$0.03.
See the GROY stock overview for the latest quote and news, or the GROY chart for price history and technical indicators.
GROY income statement FAQ
What is Gold Royalty's annual revenue?
Gold Royalty reported total revenue of $15.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 54.5% from $10.1 million the previous year.
Is Gold Royalty profitable?
No. Gold Royalty reported a net loss of $4.1 million in fiscal 2025, a net profit margin of −26.5%; its operating margin was 10.9%.
What is Gold Royalty's gross margin?
Gold Royalty's gross margin was 76.4% in fiscal 2025: for every $100 of revenue, Gold Royalty kept $76 after the direct cost of its products and services.
What are Gold Royalty's earnings per share?
Gold Royalty earned $-0.03 per diluted share in fiscal 2025, compared with $-0.02 a year earlier.
When will Gold Royalty report its next earnings?
Gold Royalty is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Gold Royalty's fiscal year end?
Gold Royalty's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.