North America was OR Royalties’s largest region in fiscal 2025, bringing in $165.74M of $471.77M (35%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| North America | $320.68M | $117.45M | $260.41M | $165.74M | |||||
| Revenue | — | — | — | — | |||||
| Country Of Domicile | — | — | $121.70M | $160.10M | |||||
| South America | $49.15M | $47.36M | $46.08M | $97.43M | |||||
| Australia | $1.85M | $15.35M | $39.86M | $27.72M | |||||
| Europe | $9.20M | $8.02M | $10.40M | $15.36M | |||||
| Africa | $2.25M | $210.00K | $2.70M | $5.41M | |||||
| Total | $383.14M | $188.38M | $481.14M | $471.77M |
OR Royalties brought in $471.77M from its six regions in fiscal 2025, the year ended December 31, 2025. That was down 1.9% from $481.14M in fiscal 2024. North America was the largest at $165.74M (35.1%), ahead of Country Of Domicile at $160.10M (33.9%) and South America at $97.43M (20.7%). The other three regions brought in $48.50M combined.
Compared with fiscal 2024, South America grew fastest, up 111.4% to $97.43M, while North America fell the most, down 36.4% to $165.74M.
OR Royalties began breaking out Country Of Domicile in fiscal 2024, when it brought in $121.70M.
Royalties, Streams & Similar Interests was OR Royalties’s largest revenue line in fiscal 2025, bringing in $165.74M of $374.04M (44%).
| Categories of Royalty, streams and interests | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Offtakes | — | — | — | — | |||||
| Revenue | — | — | — | — | |||||
| Three Royalty Stream Interests | $132.30M | $108.40M | — | — | |||||
| Two Royalty/Stream Interests | — | — | $100.60M | — | |||||
| Royalties, Streams & Similar Interests | $2.25M | $118.83M | $130.38M | $165.74M | |||||
| One Royalty Interest | $78.80M | $66.70M | — | $108.20M | |||||
| Streams | $73.74M | $64.40M | $60.78M | $100.11M | |||||
| Total | $287.10M | $358.33M | $291.76M | $374.04M |
OR Royalties brought in $374.04M from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $471.77M it reports by geography, so these revenue lines do not cover all of its revenue. Royalties, Streams & Similar Interests was the largest at $165.74M (44.3%), ahead of One Royalty Interest at $108.20M (28.9%) and Streams at $100.11M (26.8%).
Compared with fiscal 2024, Streams grew 64.7% to $100.11M and Royalties, Streams & Similar Interests grew 27.1% to $165.74M. Some of that change comes from OR Royalties regrouping its revenue lines.
OR Royalties stopped reporting Three Royalty Stream Interests ($108.40M in fiscal 2023) and Two Royalty/Stream Interests ($100.60M in fiscal 2024) as separate revenue lines.
OR Royalties (OR) reports its revenue by geography and by categories of royalty, streams and interests. In fiscal 2025, North America was its largest region, bringing in $165.74M (35.1% of the total), followed by Country Of Domicile at $160.10M (33.9%).
North America was OR Royalties' largest region in fiscal 2025, bringing in $165.74M, or 35.1% of the $471.77M total across its six regions.
Royalties, Streams & Similar Interests was OR Royalties' largest revenue line in fiscal 2025, bringing in $165.74M, or 44.3% of the $374.04M total across its three revenue lines.
Among OR Royalties' regions that make up at least 2% of revenue, South America grew fastest in fiscal 2025, up 111.4% from $46.08M to $97.43M.
Every figure comes from OR Royalties' annual financial filings, as reported. Each line keeps the name OR Royalties gives it, and years follow its fiscal calendar.
OR Royalties' revenue by geography goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.