Gold Royalty Corp.’s shares rose modestly by 2.6% following its Q1 2026 earnings, reflecting a generally in-line performance with positive revenue and EBITDA growth but without a material beat that would ignite a stronger market response.

• Q1 revenue reached $9.4 million, supported by contributions from recent royalties acquired in late 2025 and early 2026.
• Adjusted EBITDA increased significantly to $7 million, more than doubling from the prior quarter’s $3.2 million.
• Reported 1,920 gold equivalent ounces (GEOs) in the quarter, annualizing to 7,680 GEOs, slightly above the low end of the 2026 guidance range of 7,500 to 9,300 GEOs.
• Balance sheet remains strong with over $13.6 million in cash, zero debt, and a $150 million undrawn credit facility, positioning the company for self-funded growth.
• Management emphasized a conservative approach to acquisitions and reiterated a long-term production growth target of near 500% by 2030, based entirely on existing royalties and streams.