Gold Royalty Corp. Reports Record Annual Revenue and Strong Growth Outlook

VANCOUVER, BC, March 19, 2026 – Gold Royalty Corp. (NYSE American: GROY) has announced a remarkable financial performance for the year ended December 31, 2025, with record annual revenues and operating cash flows, alongside a robust growth outlook for the coming years. The press release highlights the company's achievements and strategic advancements, underscoring its position as a leading player in the gold royalty sector.

In 2025, Gold Royalty reported record revenues of $15.6 million, an increase from $10.1 million in 2024. The company’s total revenue, which includes land agreement proceeds and interest, reached $17.8 million for the year, driven by the sale of 5,173 gold equivalent ounces (GEOs). In the fourth quarter alone, Gold Royalty generated $4.5 million in revenue, indicating a strong finish to the year.

The company also reported positive operating cash flow of $6.2 million and an Adjusted EBITDA of $9.8 million, reflecting a substantial improvement in profitability compared to the prior year. This performance was bolstered by a robust balance sheet, with Gold Royalty exiting 2025 with over $12 million in cash and no debt, alongside a fully undrawn credit facility increased to $150 million.

David Garofalo, Chairman and CEO of Gold Royalty, commented on these results, stating, "We are incredibly proud of the company we have built over the past five years... Our 2026 and five-year outlook demonstrate the continued peer-leading growth in our asset portfolio, including over 60% year-over-year growth expected in 2026."

Looking ahead to 2026, Gold Royalty expects total GEOs to rise significantly to between 7,500 and 9,300. This anticipated growth is attributed to the ramp-up of existing cash-flowing assets and the addition of newly acquired royalties, particularly from the Pedra Branca mine operated by BHP and the Borborema project. This outlook suggests a mid-point increase of over 60% compared to 2025 results.

The company's five-year outlook is even more ambitious, forecasting GEOs to increase to between 28,000 and 34,000 by 2030. This projection represents a peer-leading growth of over 490% based on the mid-point guidance from 2025 results. Contributing factors to this growth include ongoing production from cornerstone assets and new developments currently in progress.

Gold Royalty's forecasts are based on assumed gold and copper prices of $3,500 per ounce and $5.00 per pound, respectively. The company has provided a sensitivity analysis illustrating how fluctuations in commodity prices could impact its GEO projections for 2026.

The press release contains several selected financial highlights for the fourth quarter and full-year 2025, including:

Gold Royalty's growth strategy includes expanding its portfolio of royalties. In 2025, the company added eight new royalties, bringing the total to 56 royalties since its acquisition of Ely Gold Royalties Inc. in 2021. The company currently manages 38 properties under land agreements, generating consistent revenues through these arrangements.

The press release also provided updates on several key projects within Gold Royalty's portfolio:

Gold Royalty Corp. has positioned itself strongly in the gold royalty sector, achieving record financial results and setting ambitious growth targets for the coming years. With a solid balance sheet and a diversified portfolio, the company is well-equipped to capitalize on the ongoing demand for precious metals. Investors and stakeholders are encouraged to tune into the conference call scheduled for March 19, 2026, at 11:00 am ET to discuss these results in further detail.