Filing Flows › Royal Gold (RGLD) › Q2 2025
Royal Gold (RGLD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Royal Gold (RGLD) reported revenue of $210M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +8% from the quarter before. Operating margin was 67.7%, net earnings $132M (63.2% of revenue).
Royal Gold, Q2 2025: revenue $210M (+20% year over year), operating margin 67.7%, net earnings $132M, operating cash flow $153M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | +8% | +20% |
| Gross profit | $152M | +13% | +35% |
| Operating profit | $142M | +15% | +39% |
| Net earnings | $132M | +17% | +63% |
| Operating cash flow | $153M | +12% | +35% |
What changed
Revenue was $209.6M in Q2 2025, up 20% year over year and up 8% from the previous quarter. Stream interest was the largest line at 64% of revenue. Royalty revenue: added $25.3M year over year (up 49%), 71% of the total change.
Gross margin was 72.6%, up 7.9 points from a year earlier. Operating profit was $141.8M, a 67.7% margin (up 9.0 points year over year). Of the extra revenue versus a year earlier, 112% reached operating profit, above the 59% margin then. Operating expenses fell 2% while revenue rose 20%. Net earnings were $132.3M, up 63% year over year. The effective tax rate was 7.4%.
Operating cash flow was $152.8M (up 35% year over year), 115% of net earnings. Non-cash charges added back $31.2M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items used $13.5M.
Questions
What was Royal Gold's revenue in the second quarter 2025?
Royal Gold (RGLD) reported revenue of $210M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +8% from the quarter before.
Was Royal Gold profitable in the second quarter 2025?
Operating profit was $142M (67.7% of revenue) and net earnings $132M.
Source: Royal Gold 10-Q on SEC EDGAR.