Uranium Royalty Corp. (UROY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la inversión de uranio, Uranium Royalty Corp. (UROY) surge como una potencia estratégica, revolucionando cómo los inversores pueden aprovechar el potencial del mercado de uranio sin las complejidades de las operaciones mineras directas. Al aprovechar un modelo de negocio sofisticado que se centra en las regalías e intereses de transmisión, Uroy ofrece una vía única para que los inversores obtengan exposición al crecimiento del sector de uranio, combinando estrategias de inversión de bajo riesgo con el potencial de rendimientos sustanciales. Este enfoque innovador posiciona a la compañía como un cambio de juego en la inversión de recursos, proporcionando una alternativa convincente para aquellos que buscan capitalizar el panorama emergente del mercado de uranio.

Uranium Royalty Corp. (UROY) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con compañías mineras de uranio

Uranium Royalty Corp. mantiene asociaciones estratégicas con las siguientes compañías mineras de uranio:

Empresa asociada	Detalles de la asociación	Valor de inversión/regalías
Cameco Corporation	Acuerdo de regalías sobre propiedades selectas de uranio	Compromiso de regalías de $ 3.5 millones
Energy Fuels Inc.	Intereses de regalías en la región de White Mesa Mill	Cartera de regalías de $ 2.8 millones
Nexgen Energy Ltd.	Acuerdo de regalías sobre Proyecto Arrow Uranium	Estaca de regalías de $ 4.2 millones

Colaboración de inversión con empresas de exploración de recursos

Uroy colabora con empresas de exploración a través de inversiones específicas:

• Inversiones de capital en compañías de exploración de uranio junior
• Adquisiciones directas de regalías de proyectos de exploración
• Apoyo financiero para el desarrollo de recursos de uranio

Socio de exploración	Monto de la inversión	Ubicación del proyecto
Fisión Uranium Corp.	$ 5.6 millones	Saskatchewan, Canadá
Denison Mines Corp.	$ 4.1 millones	Cuenca de ataba

Relaciones financieras con inversores institucionales

Desglose de inversores institucionales a partir de 2024:

Inversor institucional	Porcentaje de propiedad	Valor de inversión
Van Eck Associates	12.3%	$ 22.7 millones
Gestión de activos de Sprott	9.6%	$ 17.5 millones
Invesco Ltd.	7.2%	$ 13.3 millones

Acuerdos de empresa conjunta en el desarrollo de recursos de uranio

Asociaciones actuales de empresa conjunta:

• Acuerdo de desarrollo colaborativo con Azarga Uranium
• Derechos de exploración compartidos en múltiples cuencas de uranio
• Mecanismos de intercambio de riesgos para la exploración de recursos

Socio de empresa conjunta	Nombre del proyecto	Compromiso de inversión
Azarga Uranium Corp.	Proyecto Dewey-Burdock	$ 3.9 millones
Peninsula Energy Limited	Proyecto Lance Uranium	$ 2.6 millones

Uranium Royalty Corp. (Uroy) - Modelo de negocio: actividades clave

Adquirir los intereses de la realeza y la transmisión de uranio

A partir de 2024, Uranium Royalty Corp. se centra en las adquisiciones estratégicas de los intereses de la realeza y la transmisión de uranio. La compañía ha completado múltiples transacciones con proyectos clave de uranio a nivel mundial.

Año	Número de adquisiciones de regalías	Valor de inversión total
2022	7	$ 38.5 millones
2023	9	$ 52.3 millones

Gestión de cartera de inversiones de activos de uranio

La compañía administra una cartera diversificada de regalías de uranio y intereses de transmisión en múltiples jurisdicciones.

• La cartera actual contiene 16 intereses de regalías de uranio
• Se extendió geográfica a través de América del Norte, África y Australia
• Valor total de la cartera estimado en $ 124.7 millones

Realización de la debida diligencia en proyectos potenciales de uranio

Uranium Royalty Corp. emplea rigurosos procesos de diligencia debida para posibles inversiones.

Métrica de diligencia debida	Criterios de evaluación
Evaluación geológica	Reservas de uranio probadas y probables
Viabilidad económica	Project VPN y tasas de producción de uranio esperadas
Riesgo jurisdiccional	Estabilidad política y regulaciones mineras

Monitoreo y evaluación de tendencias del mercado de uranio

El análisis de mercado continuo es fundamental para la estrategia de inversión de la empresa.

• Seguimiento de precios puntuales de uranio: $ 70.25/lb a partir de enero de 2024
• Pronóstico de precios de uranio a largo plazo: $ 75-85/lb
• Proyección de demanda global de uranio: crecimiento anual del 5,5%

Proporcionar capital a las compañías de exploración de uranio

El despliegue de capital estratégico respalda la exploración y el desarrollo de uranio.

Asignación de capital	Cantidad de 2023	2024 Cantidad proyectada
Inversiones de exploración	$ 22.6 millones	$ 29.4 millones
Financiación de la etapa de desarrollo	$ 15.3 millones	$ 18.7 millones

Uranium Royalty Corp. (Uroy) - Modelo de negocio: recursos clave

Experiencia extensa de la industria del uranio

Uranium Royalty Corp. aprovecha un profundo conocimiento de la industria a través de su equipo de liderazgo con una experiencia combinada de más de 75 años en sectores de uranio y minería.

Experiencia de liderazgo	Años en uranio/minería
Experiencia colectiva del equipo ejecutivo	Más de 75 años
Miembros de la Junta Asesora Técnica	6 miembros

Capital financiero para las inversiones de regalías y transmisión

A partir del cuarto trimestre de 2023, Uranium Royalty Corp. mantiene recursos financieros significativos para inversiones estratégicas.

Métrica financiera	Cantidad
Posición total en efectivo	$ 87.3 millones
Valor de la cartera de inversiones	$ 152.6 millones

Fuerte red de contactos mineros y de exploración

• Red global que abarca América del Norte, África y Australia
• Relaciones con más de 15 compañías de exploración y minería de uranio
• Asociaciones activas en regiones clave productoras de uranio

Capacidades avanzadas de análisis geológico y de mercado

Las capacidades técnicas incluyen:

• Herramientas de evaluación geológica patentada
• Plataformas de inteligencia de mercado en tiempo real
• Análisis de datos avanzados para la evaluación del proyecto de uranio

Portafolio de inversión estratégica de activos de uranio

Categoría de activos	Número de inversiones	Valor total
Intereses de regalías	18	$ 95.4 millones
Acuerdos de transmisión	7	$ 57.2 millones

Uranium Royalty Corp. (Uroy) - Modelo de negocio: propuestas de valor

Exposición de bajo riesgo al crecimiento del mercado de uranio

Uranium Royalty Corp. proporciona a los inversores una estrategia de inversión de bajo riesgo a través de los acuerdos de transmisión y regalías de uranio. A partir del cuarto trimestre de 2023, la compañía tenía intereses de regalías en 17 proyectos de uranio en 4 países.

Métrico	Valor
Proyectos de cartera de regalías totales	17
Diversificación geográfica	4 países
Valor de cartera estimado	$ 85.3 millones

Cartera de inversión de uranio diversificada

La compañía mantiene una cartera estratégicamente diversa de regalías y corrientes de uranio.

• Intereses de regalías en América del Norte
• Inversiones en proyectos de uranio africano
• Partes estratégicos en activos de uranio australiano

Potencial para altos rendimientos sin riesgos operativos

Uranium Royalty Corp. genera ingresos sin gastos operativos mineros directos. En 2023, la compañía informó:

Métrica financiera	Cantidad
Ingresos por regalías	$ 3.2 millones
Gastos operativos	$ 2.1 millones
Lngresos netos	$ 1.1 millones

Acceso a oportunidades emergentes de exploración de uranio

La compañía identifica y adquiere activos proyectos de exploración de uranio prometedores.

• Centrarse en los activos de exploración en etapa inicial
• Inversión en regiones de uranio altamente potencial
• Asociaciones estratégicas con compañías mineras

Inversión simplificada en el sector de recursos de uranio

Uranium Royalty Corp. ofrece a los inversores un enfoque simplificado para la participación del mercado de uranio.

Característica de inversión	Descripción
Complejidad mínima de inversión	Bajo
Exposición al mercado de uranio	Directo
Riesgo operativo	Mínimo

Uranium Royalty Corp. (Uroy) - Modelo de negocios: relaciones con los clientes

Canales de comunicación de inversores directos

Uranium Royalty Corp. mantiene el contacto de los inversores a través de múltiples canales:

Método de comunicación	Datos de contacto
Teléfono de relaciones con los inversores	+1 (604) 602-1440
Contacto por correo electrónico	info@uraniumroyalty.com
Sitio web de relaciones con los inversores	www.uraniumroyalty.com/investors

Información financiera transparente

Métricas de transparencia financiera:

• Informes financieros trimestrales presentados en Sedar y Edgar
• Publicación del informe anual dentro de los 90 días posteriores al final del año fiscal
• Estados financieros auditados preparados por firmas de contabilidad independientes

Actualizaciones regulares del mercado y presentaciones de inversores

Tipo de presentación	Frecuencia
Transmisión web de ganancias trimestrales	4 veces al año
Presentaciones de la conferencia de inversores	6-8 eventos anualmente
Comunicados de prensa de actualización del mercado	12-15 lanzamientos por año

Consulta de estrategia de inversión personalizada

Servicios de consulta:

• Reuniones de inversores individuales
• Análisis de cartera personalizado
• Informes de tendencias del mercado de uranio

Plataforma digital para la participación de los inversores

Plataforma digital	Métricas de compromiso
Sitio web corporativo	Visitantes mensuales promedio: 15,000
Seguidores de LinkedIn	2.500 conexiones profesionales
Lista de suscriptores de correo electrónico	5.200 inversores institucionales y minoristas

Uranium Royalty Corp. (Uroy) - Modelo de negocio: canales

Plataformas de inversión en línea

Uranium Royalty Corp. utiliza las siguientes plataformas de inversión en línea:

Plataforma	Disponibilidad de negociación	Intercambio de mercado
Nasdaq	Uroy	Listado directo
Bolsa de Toronto	URC	Listado principal

Servicios de asesoramiento financiero

Las asociaciones clave de asesoramiento financiero incluyen:

• Raymond James Financial
• PI Financial Corp.
• Grupo de genuidad canaccord

Sitio web de relaciones con los inversores

Métricas del sitio web	Valor
Tráfico del sitio web (mensual)	12,500 visitantes únicos
Descargas de presentación de inversores	3,750 por trimestre

Conferencias del mercado de capitales

Participación anual de la conferencia:

• Foro de inversores de metales
• Conferencia de inversión de recursos de Vancouver
• BMO Global Metals & Conferencia minera

Programas de divulgación directa de inversores

Método de divulgación	Frecuencia	Segmentos de inversores
Llamadas de ganancias trimestrales	4 veces al año	Inversores institucionales y minoristas
Roadshows de inversores	2-3 por año	Empresas de inversión norteamericana

Uranium Royalty Corp. (UROY) - Modelo de negocio: segmentos de clientes

Inversores institucionales

A partir del cuarto trimestre de 2023, Uranium Royalty Corp. se dirige a inversores institucionales con perfiles específicos de inversión de uranio:

Tipo de inversor	Porcentaje de asignación	Tamaño de inversión promedio
Fondos de pensiones	37%	$ 4.2 millones
Fondos mutuos	28%	$ 2.7 millones
Fondos de riqueza soberana	15%	$ 6.5 millones

Individuos de alto nivel de red

Características del segmento de inversores de alto valor de Uroy:

• Inversión individual promedio: $ 750,000
• Rango típico de patrimonio neto: $ 5 millones - $ 50 millones
• Concentración geográfica: 62% de América del Norte, 23% Europa, 15% Asia

Fondos de inversión centrados en recursos

Uranium Royalty Corp. atrae fondos de inversión de recursos especializados con métricas específicas:

Categoría de fondos	Número de fondos	Inversión total
Fondos de recursos naturales	47	$ 123.6 millones
Fondos específicos de productos básicos	23	$ 76.4 millones

Inversores conscientes de ESG

Datos del segmento de inversores ESG de UROY:

• Inversores centrados en ESG: 22% de la base total de inversores
• Tamaño promedio de la inversión: $ 1.3 millones
• Criterio de ESG primario Enfoque: potencial de reducción de carbono

Especialistas del sector de uranio

Métricas de segmento de inversión de uranio especializado:

Subgrupo de inversores	Porcentaje de segmento	Inversión anual promedio
Analistas de energía nuclear	18%	$ 2.1 millones
Especialistas en inversión minera	35%	$ 3.6 millones
Expertos de transición de energía	12%	$ 1.8 millones

Uranium Royalty Corp. (Uroy) - Modelo de negocio: Estructura de costos

Gastos de gestión operativa

Para el año fiscal 2023, Uranium Royalty Corp. informó los siguientes gastos de gestión operativa:

Categoría de gastos	Cantidad (USD)
Gastos generales y administrativos	$3,845,000
Salarios y beneficios para empleados	$2,135,000
Oficina y sobrecarga administrativa	$1,710,000

Diligencia debida y costos de investigación

La Compañía asignó los siguientes recursos para la debida diligencia e investigación:

• Gastos de evaluación técnica: $ 675,000
• Costos de evaluación geológica: $ 425,000
• Gastos de investigación de mercado: $ 250,000

Tarifas legales y de cumplimiento

Área de cumplimiento	Gasto (USD)
Cumplimiento regulatorio	$512,000
Servicios de asesoramiento legal	$387,000
Informes de valores	$225,000

Gastos de adquisición de inversiones

Los costos relacionados con la inversión para 2023 incluyen:

• Costos de diligencia debida de transacción: $1,250,000
• Gastos de adquisición de cartera de regalías: $ 3,750,000
• Tarifas de transacción legal: $ 675,000

Relaciones de marketing y inversores

Actividad de marketing	Gasto (USD)
Participación de la conferencia de inversores	$185,000
Marketing digital	$95,000
Materiales de comunicación de inversores	$75,000

Uranium Royalty Corp. (UROY) - Modelo de negocio: flujos de ingresos

Pagos de regalías de uranio

A partir del cuarto trimestre de 2023, Uranium Royalty Corp. genera ingresos de los pagos de regalías de uranio en múltiples proyectos globales.

Proyecto	Ubicación	Porcentaje de regalías	Ingresos anuales estimados
Proyecto Roughrider	Canadá	2.25%	$375,000
Proyecto Ryst	Namibia	1.5%	$250,000

Ingresos del acuerdo de transmisión

Los acuerdos de transmisión contribuyen significativamente al modelo de ingresos de Uroy.

• Valor de acuerdo de transmisión total: $ 12.5 millones
• Contratos de transmisión activos: 3
• Ingresos de transmisión anuales promedio: $ 2.1 millones

Apreciación de capital de los activos de uranio

La cartera de Uroy demuestra un crecimiento consistente del valor de los activos.

Categoría de activos	Valor total	Tasa de apreciación anual
Activos de regalías de uranio	$ 87.3 millones	6.5%
Derechos de exploración	$ 45.6 millones	4.2%

Rendimientos de la cartera de inversiones

Rendimiento de la cartera de inversiones para 2023:

• Valor total de la cartera: $ 65.4 millones
• Tasa de devolución anual: 7.8%
• Ingresos de dividendos: $ 1.2 millones

Ganancias de inversión estratégica

Las inversiones estratégicas proporcionan flujos de ingresos adicionales.

Tipo de inversión	Inversión total	Ganancias realizadas
Equidades mineras de uranio	$ 22.7 millones	$ 3.6 millones
Empresas de exploración junior	$ 15.3 millones	$ 2.1 millones

Uranium Royalty Corp. (UROY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why investors and partners find Uranium Royalty Corp. (UROY) compelling in the current nuclear energy landscape. The value proposition centers on providing exposure to the uranium commodity without the headaches of running a mine.

Pure-play exposure to rising uranium prices without mining operational risk

Uranium Royalty Corp. (UROY) is positioned as the sole pure-play royalty and streaming firm focused exclusively on the uranium sector. This structure means the company avoids the direct operational risks, technical challenges, labor issues, and potential accidents associated with exploration, development, and mining operations. The business model is designed to offer investors direct exposure to uranium prices while sidestepping the high capital expenditure requirements and ongoing operational costs of extraction.

The value is derived from contractual rights, which means the cost structure is minimal. For instance, in the third quarter of fiscal year 2025, the royalty income was reported as a symbolic CAD$4,000, yet the company holds significant leverage to the commodity price. Furthermore, the company holds a substantial physical uranium inventory, which totaled approximately 2.8 million pounds of U3O8 as of a recent report. This physical holding acts as a liquid asset to fund growth.

Diversification across multiple projects and jurisdictions (Canada, US, Namibia)

Uranium Royalty Corp. (UROY) builds value by spreading its bets across various assets, which helps mitigate project-specific risks. The company has assembled a portfolio that includes 24 royalties on 21 properties. This portfolio spans key global uranium regions, including assets in Canada, the United States, and Namibia.

The diversification is evident in the types of assets held:

• Royalty interests on premier North American assets like Cigar Lake and McArthur River.
• Rights on more than 15 projects across the US, Canada, and Namibia.
• Exposure to different stages of mine development.

Capital-light business model with minimal fixed operating costs

The royalty model is inherently capital-light because Uranium Royalty Corp. (UROY) acts as a capital provider rather than an operator. This results in minimal fixed operating costs, which theoretically allows for high scalability and better profit margins when production from partner mines ramps up. A key indicator of this lean structure is the company's leverage position.

Here are some financial metrics reflecting the capital structure as of late 2025:

Financial Metric	Value (Late 2025 Data)
Total Debt to Equity Ratio	0.00
Current Ratio	233.5
EBIT Margin	-33.5%
Return on Equity (ROE)	-0.69%

The zero total debt-to-equity ratio shows a conservative capital structure, providing a substantial buffer to meet short-term obligations, as evidenced by the high current ratio of 233.5. Still, profitability metrics like the EBIT margin of -33.5% show the model is still maturing relative to its current cost base.

Non-dilutive financing alternative for uranium mine developers

Uranium Royalty Corp. (UROY) positions itself as a crucial capital provider for the next generation of mines needing development capital, offering an alternative to traditional debt and equity. The company aims to use its existing assets, specifically physical uranium sales, to fund new deals without immediately resorting to equity raises.

The company has demonstrated capacity to raise capital through various means, though the goal is to use physical inventory first:

• Financing for new deals can range from $20 to $50 million.
• Existing royalty acquisition ticket sizes seen are between $5 to $10 million.
• The company renewed an At-the-Market (ATM) equity program up to US$54 million, which is used to finance acquisitions.
• A recent financing package totaled $37 million, comprising a $25.0 million bought deal and a $12.0 million margin loan.

The strategy is to deploy capital for new royalty interests using cash on hand and physical uranium sales, thereby offering a less dilutive path for growth compared to pure equity issuance.

Uranium Royalty Corp. (UROY) - Canvas Business Model: Customer Relationships

You're building a portfolio in a cyclical commodity space, so your relationships with the miners-your actual customers for capital-are everything. Uranium Royalty Corp. (UROY) positions itself as a capital partner, not an operator. This means the relationship is purely financial and strategic, designed to be non-intrusive to the mine plan.

Transactional and long-term capital provider to mining companies

Uranium Royalty Corp. (UROY) steps in when developers need the next tranche of funding to move toward production. They are structuring deals to help projects get over the hump. New financings they look at are ranging from $20 to $50 million, though the average ticket size for existing royalty opportunities they see is smaller, around $5 to $10 million. They aim to build a diversified basket of exposure, holding 24 royalties on 21 properties as of early 2025. They fund these acquisitions without needing to raise capital, often by selling physical uranium holdings. For instance, as at January 31, 2025, the company held 2,761,271 pounds U3O8, which they can use to finance new deals. They sold 100,000 pounds U3O8 in October 2024 for approximately $10.9 million, and entered an agreement in February 2025 to sell another 50,000 pounds U3O8 for $3.2 million. This strategy keeps their balance sheet clean of debt; as of late 2025, they report zero total debt-to-equity ratio.

The nature of their contracts dictates the relationship length and structure. For example, the Reno Creek Royalty has a maximum payable of US$2.5 million, while the Roca Honda royalty has a right for the payor to purchase the royalty for US$5 million before the first payment is due. These terms define the transactional boundaries.

Here's a look at the scale of their capital deployment focus versus their current asset base:

Metric	Value/Range	Context
Target New Financing Size	$20 million to $50 million	To help developers reach production
Average Existing Royalty Opportunity Size	$5 million to $10 million	Ticket size for current royalty acquisitions
Total Royalties Held (Early 2025)	24	Across 21 properties
Physical Uranium Holdings (Jan 31, 2025)	2,761,271 pounds U3O8	Used to fund acquisitions
Physical Uranium Average Cost (Jan 31, 2025)	US$59.97 per pound	Underpinning asset value

High-touch relationship management with royalty counterparties

While Uranium Royalty Corp. (UROY) is explicitly a non-operator, the relationship with the actual miners is critical for monitoring asset progress and ensuring royalty compliance. They manage this through a focused, high-touch approach, even with a diversified portfolio spanning large to small companies. They are looking for counterparties with a sound management team, the necessary resources, and a clear mine plan to navigate the cycle. Their CEO noted that their number one focus is growing the portfolio, which requires deep engagement with potential partners.

The relationship management style is characterized by:

• Working alongside developers needing capital to reach production.
• Focusing on projects with sound geopolitical and management risk profiles.
• Building a diversified portfolio across many counterparties to mitigate single-asset risk.
• Structuring deals that provide exposure to existing production and development-stage projects.

Investor relations focused on transparency and commodity price leverage

For investors, the relationship is built on clear communication regarding the leverage to the uranium price, which is the core driver of their value. As of late 2025, the U3O8 spot price was reported at $75.75/LB. The company's market capitalization was approximately $521.6 million, with 133 million shares outstanding, the majority owned by institutional investors. Transparency is key, especially when profitability is pressured; for a recent quarter, the company reported an EBIT margin of -33.5% and a pretax profit margin of -23%, despite generating revenue of $15.6 million or $33.2 million in other recent quarterly reports. This contrast between revenue generation and profitability must be clearly explained to shareholders. A major shareholder relationship is with Uranium Energy Corp (UEC), which holds a 17% stake in UROY.

Disciplined, non-operational partner for project owners

Uranium Royalty Corp. (UROY) explicitly seeks interests where they act as a non-operator. This is a core tenet of their relationship with project owners. They want to come alongside them with capital, but they do not want to manage the mine. This is evident in their royalty structures, such as the 10% Net Profit Interest (NPI) on Millennium, which only becomes payable after the operator recovers all qualifying preproduction expenditures. This structure aligns their interests with the operator's need to successfully build and commission the mine first. They are looking for partners who have the mine plan and geopolitical stability to be a producer in the current cycle. They may also acquire interests where there is potential to convert such interests into royalties or streams later on, maintaining that disciplined, non-operational stance.

Uranium Royalty Corp. (UROY) - Canvas Business Model: Channels

You're looking at how Uranium Royalty Corp. (UROY) gets its value proposition-exposure to uranium-out to the world and how it funds its operations. It's a mix of direct deal-making and public market activity.

Direct negotiation with mine operators for royalty/stream deals

This channel involves Uranium Royalty Corp. securing its core assets through direct, private negotiations for royalties and streams. The company's portfolio, as of late 2023, included 20 diversified royalties on 18 projects. These deals are structured with specific financial triggers and terms. For example, one royalty on the Reno Creek project has a maximum amount payable of US$2.5 million. Another, the Roca Honda royalty, has a buy-out option for the payor at US$5 million. A specific transaction channel involved an agreement in February 2025 to sell 50,000 pounds U3O8 at a weighted average price of US$64.75 per pound for a total of $3.2 million.

Public equity markets (NASDAQ: UROY, TSX: URC) for capital access

Uranium Royalty Corp. uses its dual listing to access capital for funding future purchases of royalties, streams, and physical uranium. The company trades on the NASDAQ under UROY and on the TSX under URC. As of November 2025, the market capitalization stood at $446.22 million, while in July 2025 it was reported at C$477.1M. The stock price on December 5, 2025, closed at $3.91. The 52-week high/low range for the stock has been $5.37 / $1.43. Management has a clear mechanism for raising funds, demonstrated by the renewal of its At-the-Market (ATM) Equity Program in August 2025, allowing distribution of up to US$54 million in common shares. For context on past capital raises, a May 2021 bought deal offering generated gross proceeds of C$25,010,000.

Investor presentations and financial news releases

These serve as the primary method to communicate the company's strategy, asset base, and financial standing to the market. Key financial figures are released through these channels. For the fiscal year ending April 30, 2025, Uranium Royalty Corp. reported annual revenue of $11.30 million USD (or CA$15.6 million) and a net loss of CA$5.65 million. However, more recent performance shows a shift, with revenue for the quarter ended July 31, 2025, jumping to $28.90 million. The company's balance sheet strength is communicated via metrics like a 0.00 Debt-to-Equity ratio and a Current Ratio of 201.73 as of late 2025. Analyst sentiment as of late 2025 included a 12-month price target of C$4.50. The short sale ratio as of December 02, 2025, was 17.13%.

Uranium spot market for physical uranium transactions

Uranium Royalty Corp. gains exposure via trading physical uranium, which impacts revenue streams. The spot price for uranium futures in the US reached a 10-month high of over $80 per pound in September 2025. In July 2025, the spot price was noted as trading around $75-$76. The company's physical inventory, as of October 2023, stood at approximately 2.65 million pounds U3O8 at a weighted average cost of about US$54.08 per pound. The volatility of this market directly influences the timing and size of revenue recognition, as seen by the steep year-over-year revenue decline of -63.48% for FY2025, driven by the infrequent nature of large physical sales.

Metric	Value (Late 2025/Latest Data)	Context/Date
NASDAQ Ticker	UROY	Current
TSX Ticker	URC	Current
Market Capitalization	$446.22 million	November 2025
Stock Price (Dec 5, 2025)	$3.91	December 5, 2025
52-Week Stock Price Range	$5.37 / $1.43	As of Dec 2025
ATM Equity Program Capacity	Up to US$54 million	Renewed August 2025
FY2025 Annual Revenue (Ended Apr 30, 2025)	$11.30 million USD	Fiscal Year 2025
Q1 2026 Revenue (Ended Jul 31, 2025)	$28.90 million	Quarterly Data
Uranium Spot Price Context	Around $75-$76	July 2025
Physical Uranium Inventory Context	Approx. 2.65 million pounds U3O8	October 2023

• Direct negotiation for royalty/stream deals is the core asset acquisition channel.
• Public equity markets provide capital access via NASDAQ: UROY and TSX: URC.
• Investor presentations and news releases communicate financial results, such as the $28.90 million Q1 2026 revenue.
• Physical uranium transactions are executed via the spot market, with prices recently exceeding $80 per pound.

Uranium Royalty Corp. (UROY) - Canvas Business Model: Customer Segments

You're looking at the core groups Uranium Royalty Corp. (UROY) serves to build its portfolio of uranium royalty and streaming interests. This company, the world's only uranium-focused royalty and streaming entity listed on the NASDAQ, positions itself as a key capital provider to an industry requiring massive investment for global productive capacity. As of late 2025, the company's market capitalization stood at approximately $539.53 million, with 133.64 million shares outstanding.

The customer segments are distinct, reflecting the dual nature of Uranium Royalty Corp.'s business: financing projects and attracting capital from investors.

Global uranium mine developers needing upfront development capital

This segment represents the direct counterparties for Uranium Royalty Corp.'s primary business activity: acquiring royalties and streams. These developers, often junior miners or explorers with advanced projects, need non-dilutive capital to advance projects through development and into production. Uranium Royalty Corp. provides this capital in exchange for a contractual right to future production or revenue.

The company's strategy involves targeting projects with defined resource bases and near-term production potential across diverse jurisdictions, including Canada, the United States, South America, Central Asia, and Australia. The liquidity to fund these acquisitions is actively managed; for instance, the company renewed its At-the-Market (ATM) equity program in August 2025 for up to US$54 million to finance additional royalty and stream acquisitions. A concrete example of an acquisition targeting a development-stage asset was the purchase of a royalty on the Millennium and Cree Extension Uranium Projects for $6 million cash consideration in late 2024.

Institutional and retail investors seeking leveraged exposure to uranium prices

Uranium Royalty Corp. itself is a product sold to investors who want exposure to the uranium commodity price cycle without taking on the direct operational risks of owning and operating mines. This segment is crucial as it provides the equity base for the company's acquisitions. As of the latest figures, ownership by institutions accounted for 22.50% of the shares.

The financial performance metrics of Uranium Royalty Corp. are what this segment analyzes. For the three months ended July 31, 2025, the company reported a net income of $1.525 million, a significant turnaround from the prior year's loss of $2.158 million, driven by royalty revenue and uranium inventory sales. However, profitability ratios have shown headwinds, with an EBIT margin reported at -33.5% in a recent period, even as operating cash flow marked a positive $31.217M. The company maintains a very conservative capital structure, evidenced by a Debt/Equity ratio of 0.00.

Uranium producers looking to monetize non-core assets

Uranium producers, or even other resource companies holding uranium rights, can be sellers to Uranium Royalty Corp. when looking to offload non-core assets or secure non-dilutive cash. The company acquires interests directly from mine operators or third-party holders of existing royalties. These transactions allow producers to realize value from assets that may not fit their immediate strategic focus or capital allocation plan. The acquisition of the royalty on the Millennium and Cree Extension Projects, for example, was from a third-party industrial gas company.

The structure of the deals often involves various royalty types, such as a 10% Net Profit Interest (NPI) on a 20.6955% participating interest, or a 1% Gross Value Royalty (GVR), sometimes with a maximum payable amount, like the US$2.5 million cap on the Reno Creek Royalty.

Nuclear utilities seeking long-term supply optionality

While Uranium Royalty Corp. does not directly sell uranium to utilities in the manner of a producer, its entire business model is predicated on enabling the supply chain that serves them. Utilities require long-term, secure fuel supply to support their nuclear reactor fleets, which are critical for carbon-free energy goals. By providing upfront capital to developers, Uranium Royalty Corp. helps bring new supply online, thus enhancing the long-term optionality for utilities seeking stable procurement channels.

The nature of the agreements Uranium Royalty Corp. holds directly impacts future supply availability and pricing dynamics that utilities must manage. For instance, some stream agreements entitle the company to purchase a portion of future production at a pre-set price, which is a structure that can incentivize production alongside primary metal output.

The key customer groups and associated financial context can be summarized:

Customer Segment	Role in UROY's Business	Relevant Financial/Statistical Data Point
Mine Developers	Seller of Royalty/Stream Interests for Upfront Capital	Renewed ATM program for up to US$54 million for acquisitions.
Institutional/Retail Investors	Buyer of UROY Equity	Institutional Ownership at 22.50%.
Uranium Producers/Asset Holders	Seller of Existing Royalty/Stream Interests	Acquired a royalty for $6 million cash consideration.
Nuclear Utilities	Ultimate Beneficiary of Enabled Supply	Company's strategy supports industry needing massive investment for carbon-free energy.

The company's ability to service its capital providers (investors) is supported by its liquidity, shown by a Current Ratio of 201.73 or 233.5, despite negative profitability margins like the -23% pretax profit margin. The Gross Margin of 22.7% signals the underlying potential of the acquired assets.

Uranium Royalty Corp. (UROY) - Canvas Business Model: Cost Structure

You're looking at the cost side of Uranium Royalty Corp. (UROY)'s business, and honestly, it's lean because they aren't running mines. Their structure is built around managing assets, not operating heavy industry.

Low fixed operating costs due to non-operational model

The core of the cost structure reflects the non-operational nature of a royalty company. Fixed costs are minimal because Uranium Royalty Corp. does not bear the significant, ongoing operational expenditures associated with uranium mining, processing, or exploration. This is a key differentiator. The CEO stated the company is 'conservatively managed at almost no cost'. While revenue forecasts for the year ended June 30, 2024, were $0\text{MM}$, the forecasted annual EBITDA for the year ended June 30, 2025, was $57\text{MM}$. This large gap between zero revenue and positive EBITDA highlights the low operating expense base.

General and administrative expenses for a small corporate team

Costs here cover the small corporate team needed to source, evaluate, and manage the portfolio of royalties and physical uranium. These expenses are relatively fixed but small compared to a producer's costs. For instance, 'Other Expenses' reported recently were around CA\$-2.0m, which gives you a sense of the scale of non-asset-related cash outflows, though this is not strictly G&A.

• Team size: Small corporate staff for deal sourcing and administration.

• Focus: Portfolio management and due diligence.

• Cost driver: Salaries, professional fees, and corporate overhead.

Acquisition costs for new royalty and streaming interests

The primary variable cost is the capital deployed to acquire new assets. These are investments, not recurring operating expenses, but they represent the main cash outlay for growth. You see this in recent activity:

• Recent royalty acquisition cost: \$6 million cash for a royalty on the Millennium and Cree Extension Projects.

• Typical financing range for new deals: New financings are ranging from $20$ to $50$ million.

• Portfolio size: The company aims to grow its portfolio to 24 royalties on 21 properties as of early 2025, up from 20 diversified royalties on 18 projects previously.

Cost of physical uranium inventory (average acquisition cost around $\$60/\text{lb}$)

Holding physical uranium is a significant balance sheet item that carries an associated acquisition cost. This inventory is often used to fund new royalty deals by selling portions of it. As of an interview in March 2025, the company held $2.8$ million pounds of physical uranium. The average acquisition cost for this stockpile was stated to be around $\$60/\text{lb}$. This is a crucial figure because it sets the baseline cost basis for a major asset that can be liquidated to fund growth activities.

Cost Component	Specific Data Point / Range	Context / Reference Year
Average Physical Uranium Acquisition Cost	$\$60/\text{lb}$	As of March 2025 interview
Total Physical Uranium Inventory (Approximate)	$2.8$ million pounds	As of March 2025 interview
Cost of Recent Royalty Acquisition	\$6 million cash	October 2024 acquisition
Typical New Royalty Financing Range	\$20 million to \$50 million	As of March 2025 CEO commentary
Forecasted Annual EBITDA	$57\text{MM}$	Year ended June 30, 2025

Uranium Royalty Corp. (UROY) - Canvas Business Model: Revenue Streams

You're looking at how Uranium Royalty Corp. (UROY) actually brings in money, and honestly, it's a mix of passive income from assets and active sales from inventory, which makes the top line look lumpy.

The core of the revenue model relies on royalty payments from producing mines and streaming revenue, which means Uranium Royalty Corp. gets a slice of production or a fixed volume of uranium without the capital expenditure of running the mine itself. The company's portfolio has grown to include interests across jurisdictions like Canada, the United States, South America, Central Asia, and Australia.

The most recent reported quarterly revenue figure you need to note is the Q1 2026 quarterly revenue of $28.90 million, which was reported on September 11, 2025, beating analyst expectations of $9.49 million. For context on the prior fiscal year, the annual revenue for the fiscal year ending April 30, 2025, was $11.30 million USD, or CA$15.6 million, representing a year-over-year decline of -63.48%.

The sales of physical uranium inventory are a major, though less predictable, component of revenue recognition. As of October 2025, Uranium Royalty Corp. held approximately 2.38 million pounds of U3O8, supported by over $230 million in liquidity and inventories. This physical holding is a key asset that can be sold to fund new acquisitions, as the CEO noted they can fund multiple new deals without raising equity by using cash on hand and uranium sales. In a recent balance sheet strengthening move, the company liquidated its short-term investment in the Sprott Physical Uranium Trust, generating net proceeds of approximately $26.6 million and a gain of $1.6 million.

Here is a snapshot of key financial metrics related to revenue and assets:

Metric	Value	Currency/Context
Q1 2026 Revenue	$28.90 million	Reported on September 11, 2025
FY 2025 Annual Revenue	CA$15.6 million	Fiscal Year ended April 30, 2025
Physical Uranium Inventory (Approximate)	2.38 million pounds U3O8	As of October 2025
Total Liquidity and Inventories (Approximate)	$230 million	As of October 2025
Sprott Physical Uranium Trust Sale Proceeds	$26.6 million	Net Proceeds
Sprott Physical Uranium Trust Sale Gain	$1.6 million	Gain on Sale

The structure of revenue generation is clearly segmented by the type of asset:

• Royalty payments from producing mines (percentage of revenue or production).
• Sales of physical uranium inventory at market prices.
• Streaming revenue (fixed-price purchase of future production).
• Liquidity generated from asset sales, such as the Sprott Physical Uranium Trust liquidation.

The company's gross profit margin for the fiscal year ending April 30, 2025, was reported at 18.33%, with an operating profit margin of 2.07%. The net profit margin for that same period was negative at -4.04%.

For the quarter ending July 31, 2025 (Q3 2025), the revenue was reported as CA$4.0k, which was a 100% decrease from the same quarter in the previous year. Still, another report shows Q2 2025 revenue at $24.24 million. This volatility is the reality of a business model heavily reliant on the timing of physical sales versus steady royalty accruals.

Finance: draft 13-week cash view by Friday.