Uranium Royalty Corp. Earnings Summary — Q3 2026

• Revenue surged to C$16.66 million in Q3 2026, a massive year-over-year increase compared to the near-zero revenue in Q3 2025.
• The company maintained profitability for the third consecutive quarter, reporting net income of C$1.96 million.
• Cost of revenue remains high at C$11.9 million, reflecting the capital-intensive nature of physical uranium sales which dominate current receipts.
• Operating income turned positive at C$2.93 million, a significant recovery from the operating loss of C$1.75 million in the same quarter last year.
• Share dilution continues to be a factor, with shares outstanding increasing by 8.47% year-over-year as the company funds its royalty portfolio expansion.
• Strategic holdings in physical uranium and Tier-1 jurisdiction royalties (McArthur River, Cigar Lake) remain the central value drivers.

Management is focused on a 'buy-and-hold' royalty strategy to provide leveraged exposure to uranium prices while minimizing direct mining risks. The outlook remains centered on the global nuclear energy resurgence.

Improving

The transition from an asset-accumulation phase to a revenue-generating phase is stabilizing, evidenced by three consecutive quarters of positive net income.

UROY is positioned to benefit from the restart of major uranium projects and the tightening global supply-demand balance in nuclear fuel. Future growth depends on the conversion of development-stage royalties into producing assets.