1Q23 Results: Finance Income Continues Upward Trajectory, Driving Positive Net Income
RE Royalties reported 1Q23 revenue of C$1.8 million, up 229.1% Y/Y from C$0.6 million in 1Q22. The company’s finance income has seen an increase as a result of various secured loans advanced during the quarter. In addition, the company’s finance income now includes revenue from FC OCEP Invest LLC, beginning in 4Q22, which was earlier accounted for under the equity method. The company reported a gross profit of C$1.8 million, compared with C$0.5 million in 1Q22, primarily driven by higher finance income... RROYF affirms that it has sufficient liquidity to fund new projects and earn royalties through lending for the upcoming fiscal year. There is a robust backlog of royalty investment opportunities that is under due diligence for investing by the company.
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