Gold Royalty's Shift to Net Loss Despite Sales Growth: What Does It Mean for Long-Term Growth Strategy?

Gold Royalty Corp. reported Q3 2025 results with sales of $4.15 million, up from $2.06 million in Q3 2024, but a net loss of $1.13 million compared to a net income of $3.42 million in the same period last year. The shift from profit to net loss despite sales growth highlights a focus on earnings conversion and cost management as the company pursues growth. Investors should be conscious of concentration risk due to the company's dependence on a few producing mines.