Gold Royalty Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022
Net Income	-4.13	-3.41	-26.76	-12.71	-17.35
Depreciation & Amortization	2.74	3.28	1.01	1.78	1.83
Stock-Based Compensation	2.75	2.34	2.81	3.32	3.15
Other Adjustments	5.32	-1.01	17.89	-2	-0.77
Change in Receivables	-1.08	-0.75	-0.22	-0.31	-0.66
Changes in Accounts Payable	0.75	0.21	0.07	-8.61	-8.35
Changes in Other Operating Activities	-0.19	1.87	-1.68	2.76	2.89
Operating Cash Flow	6.17	2.54	-6.88	-15.77	-19.26
Operating Cash Flow Growth	142.63%	-	-	-	-
Capital Expenditures	-	-	-	-0.03	-0.03
Purchases of Intangible Assets	-72.96	-46.1	-28.7	-19.39	-19.68
Proceeds from Sale of Intangible Assets	3.25	0.11	-	0.02	-
Purchases of Investments	-0.03	-	-	-1.25	-1.21
Proceeds from Sale of Investments	0.46	0.17	3.31	22.19	17.66
Payments for Business Acquisitions	-	-	-	-	10.39
Other Investing Activities	0.62	1.74	-8.1	2.35	3.45
Investing Cash Flow	-68.66	-44.07	-33.49	3.89	10.58
Long-Term Debt Issued	-26.19	14.62	38.39	9.4	9.4
Long-Term Debt Repaid	-2.96	-	-0.03	-	-
Net Long-Term Debt Issued (Repaid)	-29.15	14.62	38.36	9.4	9.4
Issuance of Common Stock	107.21	31.98	1.39	0.58	0.86
Net Common Stock Issued (Repurchased)	107.21	31.98	1.39	0.58	0.86
Common Dividends Paid	-	-	-2.6	-5.47	-4.03
Other Financing Activities	-5.43	-4.25	-1.19	-0.62	-0.4
Financing Cash Flow	72.63	42.35	35.96	3.89	5.83
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-	0.02	0
Net Cash Flow	10.14	0.82	-4.4	-7.98	-2.86
Free Cash Flow	6.17	2.54	-6.88	-15.8	-19.29
Free Cash Flow Growth	142.63%	-	-	-	-
FCF Margin	39.53%	25.17%	-225.59%	-395.62%	-489.10%
Free Cash Flow Per Share	0.04	0.02	-0.05	-0.12	-0.15
Levered Free Cash Flow	-29.98	16.58	11	-7.41	-11.6
Unlevered Free Cash Flow	4.77	3.89	-25.79	-20.85	-25.1

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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