Uranium Royalty Corp. (Uroy): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do investimento em urânio, a Uranium Royalty Corp. (Uroy) surge como uma potência estratégica, revolucionando como os investidores podem explorar o potencial do mercado de urânio sem as complexidades das operações de mineração direta. Ao alavancar um modelo de negócios sofisticado que se concentra em royalties e interesses de streaming, Uroy oferece um caminho único para os investidores obterem exposição ao crescimento do setor de urânio, combinando estratégias de investimento de baixo risco com o potencial de retornos substanciais. Essa abordagem inovadora posiciona a empresa como um divisor de jogos no investimento em recursos, fornecendo uma alternativa convincente para quem procura capitalizar o cenário emergente do mercado de urânio.

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Principais Parcerias

Parcerias estratégicas com empresas de mineração de urânio

A Uranium Royalty Corp. mantém parcerias estratégicas com as seguintes empresas de mineração de urânio:

Empresa parceira	Detalhes da parceria	Valor de investimento/royalties
Cameco Corporation	Contrato de royalties sobre propriedades selecionadas de urânio	US $ 3,5 milhões de compromisso de royalty
Energy Fuels Inc.	Interesses da royalties na região branca de Mesa Mill	Portfólio de royalties de US $ 2,8 milhões
Nexgen Energy Ltd.	Contrato de royalties sobre o projeto de urânio de seta	Estaca de royalties de US $ 4,2 milhões

Colaboração de investimentos com empresas de exploração de recursos

Uroy colabora com empresas de exploração por meio de investimentos direcionados:

• Investimentos de ações em empresas de exploração de urânio júnior
• Aquisições de royalties diretas de projetos de estágio de exploração
• Apoio financeiro para o desenvolvimento de recursos de urânio

Parceiro de exploração	Valor do investimento	Localização do projeto
Fissão Uranium Corp.	US $ 5,6 milhões	Saskatchewan, Canadá
Denison Mines Corp.	US $ 4,1 milhões	Bacia de Athabasca

Relações financeiras com investidores institucionais

Avaria do investidor institucional a partir de 2024:

Investidor institucional	Porcentagem de propriedade	Valor de investimento
Van Eck Associates	12.3%	US $ 22,7 milhões
Gerenciamento de ativos Sprott	9.6%	US $ 17,5 milhões
Invesco Ltd.	7.2%	US $ 13,3 milhões

Acordos de joint venture no desenvolvimento de recursos de urânio

Parcerias atuais de joint venture:

• Acordo de Desenvolvimento Colaborativo com Azarga Uranium
• Direitos de exploração compartilhados em várias bacias de urânio
• Mecanismos de compartilhamento de risco para exploração de recursos

Parceiro de joint venture	Nome do projeto	Compromisso de investimento
Azarga Uranium Corp.	Projeto Dewey-Burdock	US $ 3,9 milhões
Peninsula Energy Limited	Projeto Lance Uranium	US $ 2,6 milhões

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Atividades -chave

Adquirir interesses de realeza de urânio e streaming

A partir de 2024, a Uranium Royalty Corp. concentra -se em aquisições estratégicas de interesses de realeza e streaming de urânio. A empresa concluiu várias transações com os principais projetos de urânio globalmente.

Ano	Número de aquisições de royalties	Valor total de investimento
2022	7	US $ 38,5 milhões
2023	9	US $ 52,3 milhões

Gerenciamento de portfólio de investimentos em ativos de urânio

A empresa gerencia um portfólio diversificado de royalties de urânio e interesses de streaming em várias jurisdições.

• Portfólio atual contém 16 interesses de royalties de urânio
• Geográfico espalhado pela América do Norte, África e Austrália
• Valor total da portfólio estimado em US $ 124,7 milhões

Conduzindo a devida diligência em possíveis projetos de urânio

A Uranium Royalty Corp. emprega rigorosos processos de due diligence para possíveis investimentos.

Métrica de due diligence	Critérios de avaliação
Avaliação geológica	Reservas de urânio comprovadas e prováveis
Viabilidade econômica	Projeto NPV e taxas esperadas de produção de urânio
Risco jurisdicional	Regulamentos políticos de estabilidade e mineração

Monitorando e avaliando tendências do mercado de urânio

A análise contínua de mercado é fundamental para a estratégia de investimento da empresa.

• Rastreamento de preços à vista de urânio: US $ 70,25/lb em janeiro de 2024
• Previsão de preços de urânio a longo prazo: US $ 75-85/lb
• Projeção global da demanda de urânio: crescimento anual de 5,5%

Fornecendo capital para empresas de exploração de urânio

A implantação estratégica de capital apóia a exploração e desenvolvimento de urânio.

Alocação de capital	2023 quantidade	2024 Valor projetado
Investimentos em exploração	US $ 22,6 milhões	US $ 29,4 milhões
Financiamento do estágio de desenvolvimento	US $ 15,3 milhões	US $ 18,7 milhões

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Recursos Principais

Extensa experiência na indústria de urânio

A Uranium Royalty Corp. aproveita o profundo conhecimento da indústria por meio de sua equipe de liderança, com experiência combinada de mais de 75 anos em setores de urânio e mineração.

Experiência de liderança	Anos em urânio/mineração
Experiência coletiva da equipe executiva	75 anos ou mais
Membros do conselho consultivo técnico	6 membros

Capital financeiro para investimentos em royalties e streaming

A partir do quarto trimestre 2023, a Uranium Royalty Corp. mantém recursos financeiros significativos para investimentos estratégicos.

Métrica financeira	Quantia
Posição total em dinheiro	US $ 87,3 milhões
Valor da portfólio de investimentos	US $ 152,6 milhões

Forte rede de contatos de mineração e exploração

• Rede global que abrange a América do Norte, África e Austrália
• Relacionamentos com mais de 15 empresas de exploração e mineração de urânio
• Parcerias ativas nas principais regiões produtoras de urânio

Capacidades avançadas de análise geológica e de mercado

Os recursos técnicos incluem:

• Ferramentas de avaliação geológica proprietária
• Plataformas de inteligência de mercado em tempo real
• Analítica de dados avançada para avaliação do projeto de urânio

Portfólio de investimentos estratégicos de ativos de urânio

Categoria de ativos	Número de investimentos	Valor total
Interesses de royalties	18	US $ 95,4 milhões
Acordos de streaming	7	US $ 57,2 milhões

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Proposições de Valor

Exposição de baixo risco ao crescimento do mercado de urânio

A Uranium Royalty Corp. fornece aos investidores uma estratégia de investimento de baixo risco por meio de acordos de royalties e streaming de urânio. A partir do quarto trimestre de 2023, a empresa detinha interesses de royalties em 17 projetos de urânio em 4 países.

Métrica	Valor
Projetos totais de portfólio de royalties	17
Diversificação geográfica	4 países
Valor estimado do portfólio	US $ 85,3 milhões

Portfólio de investimento de urânio diversificado

A empresa mantém um portfólio estrategicamente diversificado de royalties e riachos de urânio.

• Interesses da royalties na América do Norte
• Investimentos em projetos de urânio africanos
• Holdings estratégicos em ativos australianos de urânio

Potencial para altos retornos sem riscos operacionais

A Uranium Royalty Corp. gera receita sem despesas operacionais de mineração direta. Em 2023, a empresa informou:

Métrica financeira	Quantia
Receita de royalties	US $ 3,2 milhões
Despesas operacionais	US $ 2,1 milhões
Resultado líquido	US $ 1,1 milhão

Acesso a oportunidades emergentes de exploração de urânio

A empresa identifica e adquire ativamente projetos de exploração de urânio.

• Concentre-se em ativos de exploração em estágio inicial
• Investimento em regiões de urânio de alto potencial
• Parcerias estratégicas com empresas de mineração

Investimento simplificado no setor de recursos de urânio

A Uranium Royalty Corp. oferece aos investidores uma abordagem simplificada para a participação no mercado de urânio.

Característica do investimento	Descrição
Complexidade mínima de investimento	Baixo
Exposição ao mercado de urânio	Direto
Risco operacional	Mínimo

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Relacionamentos do Cliente

Canais de comunicação de investidores diretos

Uranium Royalty Corp. mantém o contato do investidor através de vários canais:

Método de comunicação	Detalhes de contato
Telefone de relações com investidores	+1 (604) 602-1440
Contato por e -mail	info@uraniumroyalty.com
Site de Relações com Investidores	www.uraniumroyalty.com/investors

Relatórios financeiros transparentes

Métricas de transparência financeira:

• Relatórios financeiros trimestrais arquivados em sedar e edgar
• Publicação de relatório anual dentro de 90 dias do final do ano fiscal
• Demonstrações financeiras auditadas preparadas por empresas de contabilidade independentes

Atualizações regulares de mercado e apresentações de investidores

Tipo de apresentação	Freqüência
Webcast trimestral de ganhos	4 vezes por ano
Apresentações da Conferência de Investidores	6-8 eventos anualmente
Com comunicados de imprensa de atualização de mercado	12-15 lançamentos por ano

Consulta de estratégia de investimento personalizada

Serviços de consulta:

• Reuniões individuais de investidores
• Análise de portfólio personalizada
• Briefings de tendência do mercado de urânio

Plataforma digital para engajamento de investidores

Plataforma digital	Métricas de engajamento
Site corporativo	Visitantes mensais médios: 15.000
Seguidores do LinkedIn	2.500 conexões profissionais
Lista de assinantes de email	5.200 investidores institucionais e de varejo

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Canais

Plataformas de investimento on -line

A Uranium Royalty Corp. utiliza as seguintes plataformas de investimento on -line:

Plataforma	Disponibilidade de negociação	Troca de mercado
NASDAQ	Uroy	Listagem direta
Bolsa de Valores de Toronto	URC	Listagem primária

Serviços de Consultoria Financeira

As principais parcerias consultivas financeiras incluem:

• Raymond James Financial
• PI Financial Corp.
• Grupo de Genuidade Canaccord

Site de Relações com Investidores

Métricas do site	Valor
Tráfego do site (mensalmente)	12.500 visitantes únicos
Downloads de apresentação do investidor	3.750 por trimestre

Conferências do mercado de capitais

Participação anual da conferência:

• Fórum de investidores de metais
• Conferência de Investimento de Recursos de Vancouver
• BMO Global Metals & Conferência de Mineração

Programas de divulgação de investidores diretos

Método de divulgação	Freqüência	Segmentos de investidores
Chamadas de ganhos trimestrais	4 vezes por ano	Investidores institucionais e de varejo
Roadshows de investidores	2-3 por ano	Empresas de investimento norte -americano

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Segmentos de Clientes

Investidores institucionais

A partir do quarto trimestre 2023, a Uranium Royalty Corp. tem como alvo investidores institucionais com perfis específicos de investimento de urânio:

Tipo de investidor	Porcentagem de alocação	Tamanho médio de investimento
Fundos de pensão	37%	US $ 4,2 milhões
Fundos mútuos	28%	US $ 2,7 milhões
Fundos soberanos de riqueza	15%	US $ 6,5 milhões

Indivíduos de alta rede

Características de segmento de investidores de alta rede de Uroy:

• Investimento individual médio: US $ 750.000
• Faixa típica de patrimônio líquido: US $ 5 milhões - US $ 50 milhões
• Concentração geográfica: 62% da América do Norte, 23% Europa, 15% Ásia

Fundos de investimento focados em recursos

Uranium Royalty Corp. atrai fundos de investimento em recursos especializados com métricas específicas:

Categoria de fundo	Número de fundos	Investimento total
Fundos de recursos naturais	47	US $ 123,6 milhões
Fundos específicos de commodities	23	US $ 76,4 milhões

Investidores preocupados com ESG

Dados do segmento de investidores ESG da UROY:

• Investidores focados em ESG: 22% da base total de investidores
• Tamanho médio do investimento: US $ 1,3 milhão
• Critérios de ESG primários foco: potencial de redução de carbono

Especialistas do setor de urânio

Métricas especializadas do segmento de investimento de urânio:

Subgrupo de investidores	Porcentagem de segmento	Investimento médio anual
Analistas de energia nuclear	18%	US $ 2,1 milhões
Especialistas em investimentos de mineração	35%	US $ 3,6 milhões
Especialistas em transição de energia	12%	US $ 1,8 milhão

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Estrutura de Custo

Despesas de gerenciamento operacional

Para o ano fiscal de 2023, a Uranium Royalty Corp. relatou as seguintes despesas de gerenciamento operacional:

Categoria de despesa	Quantidade (USD)
Despesas gerais e administrativas	$3,845,000
Salários e benefícios dos funcionários	$2,135,000
Escritório e sobrecarga administrativa	$1,710,000

Due Diligence e Custos de pesquisa

A Companhia alocou os seguintes recursos para a due diligence and Research:

• Despesas de avaliação técnica: US $ 675.000
• Custos de avaliação geológica: US $ 425.000
• Despesas de pesquisa de mercado: US $ 250.000

Taxas legais e de conformidade

Área de conformidade	Despesas (USD)
Conformidade regulatória	$512,000
Serviços de Consultoria Jurídica	$387,000
Relatórios de valores mobiliários	$225,000

Despesas de aquisição de investimentos

Custos relacionados ao investimento para 2023 incluídos:

• Custos de due diligence de transação: $1,250,000
• Despesas de aquisição de portfólio de royalties: US $ 3.750.000
• Taxas de transação legal: US $ 675.000

Relações de marketing e investidores

Atividade de marketing	Despesas (USD)
Participação da Conferência de Investidores	$185,000
Marketing digital	$95,000
Materiais de comunicação dos investidores	$75,000

Uranium Royalty Corp. (Uroy) - Modelo de Negócios: Fluxos de Receita

Pagamentos de royalties de urânio

No quarto trimestre 2023, a Uranium Royalty Corp. gera receita com os pagamentos de royalties de urânio em vários projetos globais.

Projeto	Localização	Porcentagem de royalties	Receita anual estimada
Projeto RoughRider	Canadá	2.25%	$375,000
Ryst Project	Namíbia	1.5%	$250,000

Receitas de contrato de streaming

Os acordos de streaming contribuem significativamente para o modelo de receita de Uroy.

• Valor total do contrato de streaming: US $ 12,5 milhões
• Contratos de streaming ativo: 3
• Receita média anual de streaming: US $ 2,1 milhões

Apreciação de capital dos ativos de urânio

O portfólio de Uroy demonstra crescimento consistente do valor do ativo.

Categoria de ativos	Valor total	Taxa de valorização anual
Ativos de realeza de urânio	US $ 87,3 milhões	6.5%
Direitos de exploração	US $ 45,6 milhões	4.2%

Retornos do portfólio de investimentos

Desempenho do portfólio de investimentos para 2023:

• Valor total do portfólio: US $ 65,4 milhões
• Taxa de retorno anual: 7,8%
• Receita de dividendos: US $ 1,2 milhão

Ganhos estratégicos de investimento

Os investimentos estratégicos fornecem fluxos de receita adicionais.

Tipo de investimento	Investimento total	Ganhos realizados
Equidades de mineração de urânio	US $ 22,7 milhões	US $ 3,6 milhões
Empresas de exploração júnior	US $ 15,3 milhões	US $ 2,1 milhões

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.