Uranium Royalty Corp. (Uroy): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'investissement en uranium, Uranium Royalty Corp. (Uroy) apparaît comme une puissance stratégique, révolutionnant la façon dont les investisseurs peuvent exploiter le potentiel du marché de l'uranium sans les complexités des opérations minières directes. En tirant parti d'un modèle commercial sophistiqué qui se concentre sur les redevances et les intérêts en streaming, Uroy offre une voie unique aux investisseurs pour acquérir une exposition à la croissance du secteur de l'uranium, combinant des stratégies d'investissement à faible risque avec le potentiel de rendements substantiels. Cette approche innovante positionne l'entreprise en tant que changeur de jeu dans l'investissement des ressources, offrant une alternative convaincante à ceux qui cherchent à capitaliser sur le paysage émergent du marché de l'uranium.

Uranium Royalty Corp. (Uroy) - Modèle commercial: partenariats clés

Partenariats stratégiques avec les sociétés minières d'uranium

Uranium Royalty Corp. maintient des partenariats stratégiques avec les sociétés d'extraction d'uranium suivantes:

Entreprise partenaire	Détails du partenariat	Valeur d'investissement / redevance
Cameco Corporation	Accord de redevance sur certaines propriétés d'uranium	Engagement de redevances de 3,5 millions de dollars
Energy Fuels Inc.	Intérêts de redevances dans la région de l'usine de Mesa blanche	Portfolio de redevances de 2,8 millions de dollars
Nexgen Energy Ltd.	Contrat de redevance sur le projet Arrow Uranium	4,2 millions de dollars de redevances

Collaboration d'investissement avec les entreprises d'exploration des ressources

Uroy collabore avec les entreprises d'exploration grâce à des investissements ciblés:

• Investissements en actions dans des sociétés d'exploration d'uranium junior
• Acquisitions de redevances directes à partir de projets d'exploration
• Soutien financier au développement des ressources d'uranium

Partenaire d'exploration	Montant d'investissement	Emplacement du projet
Fission Uranium Corp.	5,6 millions de dollars	Saskatchewan, Canada
Denison Mines Corp.	4,1 millions de dollars	Bassin d'Athabasca

Relations financières avec les investisseurs institutionnels

Répartition des investisseurs institutionnels en 2024:

Investisseur institutionnel	Pourcentage de propriété	Valeur d'investissement
Van Eck Associates	12.3%	22,7 millions de dollars
Sprott Asset Management	9.6%	17,5 millions de dollars
Invesco Ltd.	7.2%	13,3 millions de dollars

Accords de coentreprise dans le développement des ressources d'uranium

Partenariats actuels de coentreprise:

• Contrat de développement collaboratif avec Azarga Uranium
• Droits d'exploration partagés dans plusieurs bassins d'uranium
• Mécanismes de partage des risques pour l'exploration des ressources

Coentreprise	Nom du projet	Engagement d'investissement
Azarga Uranium Corp.	Projet Dewey-Burdock	3,9 millions de dollars
Peninsula Energy Limited	Projet d'uranium Lance	2,6 millions de dollars

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: Activités clés

Acquérir des redevances d'uranium et des intérêts de streaming

En 2024, Uranium Royalty Corp. se concentre sur les acquisitions stratégiques des royauté en uranium et des intérêts de streaming. La société a effectué plusieurs transactions avec des projets clés dans le monde entier.

Année	Nombre d'acquisitions de redevances	Valeur d'investissement totale
2022	7	38,5 millions de dollars
2023	9	52,3 millions de dollars

Gestion du portefeuille des investissements d'actifs d'uranium

La société gère un portefeuille diversifié de redevances d'uranium et d'intérêts en streaming dans plusieurs juridictions.

• Le portefeuille actuel contient 16 intérêts de redevances d'uranium
• Répartition géographique à travers l'Amérique du Nord, l'Afrique et l'Australie
• Valeur totale du portefeuille estimé à 124,7 millions de dollars

Procéder à une diligence raisonnable sur les projets potentiels d'uranium

Uranium Royalty Corp. utilise des processus de diligence raisonnable rigoureux pour les investissements potentiels.

Métrique de diligence raisonnable	Critères d'évaluation
Évaluation géologique	Réserves d'uranium éprouvées et probables
Faisabilité économique	Projet NPV et taux de production d'uranium attendus
Risque juridictionnel	Stabilité politique et réglementation minière

Surveillance et évaluation des tendances du marché de l'uranium

L'analyse continue du marché est essentielle à la stratégie d'investissement de l'entreprise.

• Suivi des prix du spot uranium: 70,25 $ / lb à janvier 2024
• Prévisions des prix à long terme de l'uranium: 75 à 85 $ / lb
• Projection mondiale de la demande d'uranium: croissance annuelle de 5,5%

Fournir des capitaux aux entreprises d'exploration d'uranium

Le déploiement stratégique du capital soutient l'exploration et le développement de l'uranium.

Allocation des capitaux	2023 Montant	2024 Montant projeté
Investissements d'exploration	22,6 millions de dollars	29,4 millions de dollars
Financement de stade de développement	15,3 millions de dollars	18,7 millions de dollars

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: Ressources clés

Expertise approfondie de l'industrie de l'uranium

Uranium Royalty Corp. exploite les connaissances approfondies de l'industrie grâce à son équipe de direction avec une expérience combinée de plus de 75 ans dans les secteurs de l'uranium et des mines.

Expérience de leadership	Années dans l'uranium / l'exploitation minière
Expérience collective de l'équipe de direction	Plus de 75 ans
Membres du conseil consultatif technique	6 membres

Capital financier pour les redevances et les investissements en streaming

Depuis le quatrième trimestre 2023, Uranium Royalty Corp. conserve des ressources financières importantes pour des investissements stratégiques.

Métrique financière	Montant
Position totale de trésorerie	87,3 millions de dollars
Valeur du portefeuille d'investissement	152,6 millions de dollars

Strong réseau de contacts d'exploration et d'exploration

• Réseau mondial couvrant l'Amérique du Nord, l'Afrique et l'Australie
• Relations avec plus de 15 sociétés d'exploration et d'exploration d'uranium
• Partenariats actifs dans les principales régions productrices d'uranium

Capacités avancées de l'analyse géologique et du marché

Les capacités techniques comprennent:

• Outils d'évaluation géologique propriétaire
• Plates-formes d'intelligence du marché en temps réel
• Analyse avancée des données pour l'évaluation du projet d'uranium

Portefeuille d'investissement stratégique des actifs d'uranium

Catégorie d'actifs	Nombre d'investissements	Valeur totale
Intérêts de redevance	18	95,4 millions de dollars
Accords de streaming	7	57,2 millions de dollars

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: propositions de valeur

Exposition à faible risque à la croissance du marché de l'uranium

Uranium Royalty Corp. fournit aux investisseurs une stratégie d'investissement à faible risque grâce à des accords de redevance et de streaming d'uranium. Au quatrième trimestre 2023, la société détenait des intérêts de redevance dans 17 projets d'uranium dans 4 pays.

Métrique	Valeur
Projets totaux de portefeuille de redevances	17
Diversification géographique	4 pays
Valeur de portefeuille estimée	85,3 millions de dollars

Portefeuille d'investissement en uranium diversifié

La société maintient un portefeuille stratégiquement diversifié de redevances et de flux d'uranium.

• Intérêts de redevances en Amérique du Nord
• Investissements dans des projets d'uranium africains
• Holdings stratégiques dans les actifs d'uranium australiens

Potentiel de rendements élevés sans risques opérationnels

Uranium Royalty Corp. génère des revenus sans dépenses opérationnelles d'extraction directe. En 2023, la société a rapporté:

Métrique financière	Montant
Revenus de redevances	3,2 millions de dollars
Dépenses d'exploitation	2,1 millions de dollars
Revenu net	1,1 million de dollars

Accès aux opportunités d'exploration de l'uranium émergentes

La société identifie et acquiert activement des projets d'exploration d'uranium prometteurs.

• Concentrez-vous sur les actifs d'exploration à un stade précoce
• Investissement dans les régions d'uranium à haut potentiel
• Partenariats stratégiques avec les sociétés minières

Investissement rationalisé dans le secteur des ressources d'uranium

Uranium Royalty Corp. offre aux investisseurs une approche simplifiée de la participation au marché de l'uranium.

Caractéristique de l'investissement	Description
Complexité d'investissement minimale	Faible
Exposition au marché de l'uranium	Direct
Risque opérationnel	Minimal

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: relations clients

Canaux de communication des investisseurs directs

Uranium Royalty Corp. maintient les contacts des investisseurs via plusieurs canaux:

Méthode de communication	Coordonnées
Téléphone des relations avec les investisseurs	+1 (604) 602-1440
Contact par e-mail	info@uraniumroyalty.com
Site Web de relations avec les investisseurs	www.uraniumroyty.com/investors

Information financière transparente

Métriques de transparence financière:

• Des rapports financiers trimestriels déposés sur Sedar et Edgar
• Publication du rapport annuel dans les 90 jours suivant la fin de l'exercice
• États financiers audités préparés par des cabinets comptables indépendants

Mises à jour régulières du marché et présentations des investisseurs

Type de présentation	Fréquence
Webdication trimestriel	4 fois par an
Présentations de la conférence des investisseurs	6-8 événements par an
MISE À JOUR LES CLUS DE PRIX	12-15 versions par an

Consultation de stratégie d'investissement personnalisée

Services de consultation:

• Réunions d'investisseurs en tête-à-tête
• Analyse de portefeuille personnalisée
• Information sur la tendance du marché de l'uranium

Plateforme numérique pour l'engagement des investisseurs

Plate-forme numérique	Métriques d'engagement
Site Web de l'entreprise	Visiteurs mensuels moyens: 15 000
LinkedIn adepte	2 500 connexions professionnelles
Liste des abonnés par e-mail	5 200 investisseurs institutionnels et de détail

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: canaux

Plateformes d'investissement en ligne

Uranium Royalty Corp. utilise les plateformes d'investissement en ligne suivantes:

Plate-forme	Disponibilité commerciale	Échange de marché
Nasdaq	Uroy	Liste directe
Bourse de Toronto	Urc	Liste principale

Services de conseil financier

Les principaux partenariats de conseil financier comprennent:

• Raymond James Financial
• PI Financial Corp.
• Groupe de génie canaccord

Site Web de relations avec les investisseurs

Métriques du site Web	Valeur
Trafic de site Web (mensuellement)	12 500 visiteurs uniques
Téléchargements de présentation des investisseurs	3 750 par trimestre

Conférences du marché des capitaux

Participation annuelle de la conférence:

• Forum des investisseurs Metals
• Conférence d'investissement sur les ressources de Vancouver
• Métaux mondiaux BMO & Conférence minière

Programmes de sensibilisation des investisseurs directs

Méthode de sensibilisation	Fréquence	Segments des investisseurs
Appels de résultats trimestriels	4 fois par an	Investisseurs institutionnels et de détail
Roadshows des investisseurs	2-3 par an	Sociétés d'investissement nord-américaines

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, Uranium Royalty Corp. cible les investisseurs institutionnels avec des profils d'investissement en uranium spécifiques:

Type d'investisseur	Pourcentage d'allocation	Taille moyenne de l'investissement
Fonds de pension	37%	4,2 millions de dollars
Fonds communs de placement	28%	2,7 millions de dollars
Fonds de richesse souverain	15%	6,5 millions de dollars

Individus à haute nette

Caractéristiques du segment des investisseurs à haute teneur en nort d'Uroy:

• Investissement individuel moyen: 750 000 $
• Gamme de valeur nette typique: 5 millions de dollars - 50 millions de dollars
• Concentration géographique: 62% d'Amérique du Nord, 23% d'Europe, 15% d'Asie

Fonds d'investissement axés sur les ressources

Uranium Royalty Corp. attire des fonds d'investissement en ressources spécialisés avec des mesures spécifiques:

Catégorie de fonds	Nombre de fonds	Investissement total
Fonds de ressources naturelles	47	123,6 millions de dollars
Fonds spécifiques aux produits	23	76,4 millions de dollars

Investisseurs soucieux de l'ESG

Données du segment des investisseurs ESG d'Uroy:

• Investisseurs axés sur l'ESG: 22% du total des investisseurs de base
• Taille moyenne de l'investissement: 1,3 million de dollars
• Primal ESG Critères Focus: potentiel de réduction du carbone

Spécialistes du secteur de l'uranium

Métriques spécialisées du segment des investissements en uranium:

Sous-groupe des investisseurs	Pourcentage de segment	Investissement annuel moyen
Analystes de l'énergie nucléaire	18%	2,1 millions de dollars
Spécialistes des investissements miniers	35%	3,6 millions de dollars
Experts en transition énergétique	12%	1,8 million de dollars

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: Structure des coûts

Frais de gestion opérationnelle

Pour l'exercice 2023, Uranium Royalty Corp. a déclaré les frais de gestion opérationnelle suivants:

Catégorie de dépenses	Montant (USD)
Frais généraux et administratifs	$3,845,000
Salaires et avantages sociaux	$2,135,000
Office et frais généraux administratifs	$1,710,000

Diligence raisonnable et coûts de recherche

L'entreprise a attribué les ressources suivantes pour la diligence raisonnable et la recherche:

• Dépenses d'évaluation technique: 675 000 $
• Coûts d'évaluation géologique: 425 000 $
• Dépenses d'études de marché: 250 000 $

Frais juridiques et de conformité

Zone de conformité	Dépenses (USD)
Conformité réglementaire	$512,000
Services de conseil juridique	$387,000
Rapports de valeurs mobilières	$225,000

Frais d'acquisition d'investissement

Les coûts liés aux investissements pour 2023 comprenaient:

• Coûts de diligence raisonnable de la transaction: $1,250,000
• Dépenses d'acquisition du portefeuille de redevance: 3 750 000 $
• Frais de transaction juridique: 675 000 $

MARKETING ET RELATIONS D'INVESTISSEMENT

Activité marketing	Dépenses (USD)
Participation de la conférence des investisseurs	$185,000
Marketing numérique	$95,000
Matériel de communication des investisseurs	$75,000

Uranium Royalty Corp. (Uroy) - Modèle d'entreprise: Strots de revenus

Paiements de redevance d'uranium

Depuis le quatrième trimestre 2023, Uranium Royalty Corp. génère des revenus à partir de paiements de redevances en uranium sur plusieurs projets mondiaux.

Projet	Emplacement	Pourcentage de redevances	Revenus annuels estimés
Projet Roughrider	Canada	2.25%	$375,000
Projet Ryst	Namibie	1.5%	$250,000

Revenus de l'accord de streaming

Les accords de streaming contribuent de manière significative au modèle de revenus d'Uroy.

• Valeur de l'accord de streaming total: 12,5 millions de dollars
• Contrats de streaming actif: 3
• Revenus de streaming annuel moyen: 2,1 millions de dollars

Appréciation du capital des actifs d'uranium

Le portefeuille d'Uroy démontre une croissance cohérente de la valeur des actifs.

Catégorie d'actifs	Valeur totale	Taux d'appréciation annuel
Actifs de redevance d'uranium	87,3 millions de dollars	6.5%
Droits d'exploration	45,6 millions de dollars	4.2%

Returns du portefeuille d'investissement

Performance du portefeuille d'investissement pour 2023:

• Valeur du portefeuille total: 65,4 millions de dollars
• Taux de retour annuel: 7,8%
• Revenu du dividende: 1,2 million de dollars

Gains d'investissement stratégiques

Les investissements stratégiques fournissent des sources de revenus supplémentaires.

Type d'investissement	Investissement total	Gains réalisés
Actions minières d'uranium	22,7 millions de dollars	3,6 millions de dollars
Sociétés d'exploration junior	15,3 millions de dollars	2,1 millions de dollars

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.