Elemental Royalty reports record quarterly revenue of US$24.3 million
The royalty and streaming company saw revenue rise 83% over the prior-year period including attributable shares of Caserones.
Elemental Royalty Corporation (ELE), a royalty and streaming company, reported revenue of US$24.3 million for the three months ended March 31, 2026. This figure represents an 83% increase over the combined revenue and attributable share of Caserones recorded in the first quarter of 2025.
Adjusted EBITDA rose 55% to US$17.7 million compared to US$11.47 million in the same period last year. The company attributed these results to increased operating leverage, portfolio performance, and strong metal prices. Gold Equivalent Ounces sold rose to 4,983 from 4,606 in the prior-year quarter, with contributions coming from Timok, Caserones, Karlawinda, and Bonikro.
Cash flow from operating activities increased to US$14.5 million from US$2.37 million in the comparative period. Adjusted operating cash flow rose 340%. As of March 31, 2026, the company held US$69.1 million in cash and cash equivalents and US$92.5 million in working capital.
Net income for the quarter was US$1.08 million, down from US$3.45 million in the first quarter of 2025. General and administrative expenses rose to US$5.59 million from US$1.6 million. The company also recorded US$1.44 million in net royalty generation expenses, compared to zero in the prior-year period.
Following a merger with EMX Royalty, the company declared an inaugural annual dividend of US$0.12 a share, payable quarterly in either cash or Tether Gold XAU₮ tokens.
To support future transactions, the company established a US$150 million revolving credit facility that includes a US$50 million accordion feature. On April 7, 2026, the company's shares commenced trading on the Toronto Stock Exchange.