Gold Royalty Corp (GROY) saw its stock price surge 7.67% in Thursday's trading session, following the release of its impressive third-quarter financial results. The company reported record revenue and adjusted EBITDA, signaling strong performance and growth potential in the gold royalty sector.

According to the earnings report, Gold Royalty achieved record revenue of $4.1 million for the third quarter of 2025, based on 1,323 gold equivalent ounces. This represents a substantial 101.36% increase compared to the same period last year. The company's total revenue, including land agreement proceeds and interest, reached $4.6 million, exceeding analyst expectations of $4.100 million by 1.17%. Gold Royalty also reported record adjusted EBITDA of $2.5 million and positive cash flow from operations of $2.4 million.

CEO David Garofalo attributed the record revenue to new mines entering production, highlighting the company's successful growth strategy. Gold Royalty demonstrated financial prudence by repaying $2.0 million on its revolving credit facility during the quarter, with an additional $5 million repaid after the quarter's end. Management expressed intentions to continue using cash generated from operations to reduce debt throughout 2026, indicating a focus on strengthening the company's financial position. Investors seem optimistic about the company's future prospects, particularly with the Canadian Malartic/Odyssey mine production expected in the second half of 2026 and the Vareš mine aiming for an 850,000 tonnes per year rate by the end of 2026.