Source Rock Royalties Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5.66	6.03	7.69	6.65	6.49	4.26
Revenue Growth (YoY)	-25.89%	-21.57%	15.70%	2.40%	52.29%	209.79%
Gross Profit	5.66	6.03	7.69	6.65	6.49	4.26
Selling, General & Admin	0.84	0.77	0.87	0.85	0.75	0.48
Operating Expenses	4.15	4.38	5.65	4.81	3.33	4.4
Operating Income	1.51	1.65	2.04	1.84	3.16	-0.13
Interest & Investment Income	0.11	0.13	0.14	0.43	0.29	0
Pretax Income	1.73	1.78	2.17	2.27	3.44	-0.13
Income Tax Expense	0.41	0.46	0.68	0.7	0.88	-0.31
Net Income	1.32	1.32	1.5	1.57	2.56	0.18
Net Income to Common	1.32	1.32	1.5	1.57	2.56	0.18
Net Income Growth	-19.31%	-11.56%	-4.53%	-38.77%	1348.99%	-
Shares Outstanding (Basic)	46	46	45	45	42	29
Shares Outstanding (Diluted)	48	48	48	47	43	31
Shares Change (YoY)	-0.26%	0.49%	2.56%	7.78%	38.47%	7.62%
EPS (Basic)	0.03	0.03	0.03	0.03	0.06	0.01
EPS (Diluted)	0.03	0.03	0.03	0.03	0.06	0.01
EPS Growth	-15.04%	-9.68%	-8.82%	-42.38%	883.33%	-
Free Cash Flow	2.74	3.79	6.62	-8.36	1.7	2.21
Free Cash Flow Per Share	0.06	0.08	0.14	-0.18	0.04	0.07
Dividend Per Share	0.078	0.078	0.076	0.066	0.060	0.015
Dividend Growth	33.33%	1.96%	15.91%	10.00%	300.00%	200.00%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	26.70%	27.37%	26.47%	27.61%	48.63%	-3.16%
Profit Margin	23.28%	21.93%	19.45%	23.57%	39.41%	4.14%
Free Cash Flow Margin	48.42%	62.76%	86.11%	-125.85%	26.18%	51.90%
EBITDA	4.31	4.61	5.98	5.02	5.34	3.48
EBITDA Margin	76.23%	76.49%	77.71%	75.50%	82.23%	81.71%
D&A For EBITDA	2.8	2.96	3.94	3.18	2.18	3.62
EBIT	1.51	1.65	2.04	1.84	3.16	-0.13
EBIT Margin	26.70%	27.37%	26.47%	27.61%	48.63%	-3.16%
Effective Tax Rate	23.67%	25.61%	31.16%	30.90%	25.70%	-