What is Royalty Management's operating income?

Royalty Management's total operating income in 2025 was -$293.62 thousand, based on the following breakdown: Total Gross Profit: $804.78 thousand Total Operating Expenses: $1.10 million

Royalty Management (RMCO) Financials

$2.17 +0.04 (+1.88%)

Closing price 07/20/2026 04:00 PM Eastern

Extended Trading

$2.20 +0.04 (+1.61%)

As of 07/20/2026 07:34 PM Eastern

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Annual Income Statements for Royalty Management

This table shows Royalty Management's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-4.34	-2.71	-1.11	-0.11	-0.73
Consolidated Net Income / (Loss)	2.32	0.76	-1.11	-0.11	-0.73
Net Income / (Loss) Continuing Operations	-4.34	0.76	-1.11	-0.11	-0.73
Total Pre-Tax Income	-4.34	0.76	-1.11	-0.11	-0.73
Total Operating Income	-1.01	-2.28	-0.31	-0.31	-0.29
Total Gross Profit	0.00	0.17	0.47	0.78	0.80
Total Revenue	0.00	0.18	0.49	0.81	4.95
Operating Revenue	-	0.18	0.49	0.81	4.95
Total Cost of Revenue	0.00	0.00	0.02	0.02	4.15
Operating Cost of Revenue	-	0.00	0.02	0.02	4.15
Total Operating Expenses	1.01	-1.57	0.78	1.10	1.10
Selling, General & Admin Expense	1.02	0.43	0.67	1.04	1.04
Depreciation Expense	-	0.00	0.00	0.00	0.00
Amortization Expense	-	-	0.07	0.06	0.06
Total Other Income / (Expense), net	-3.33	-0.99	-0.81	0.20	-0.43
Interest Expense	-	0.72	0.72	0.14	0.02
Interest & Investment Income	-	0.17	0.12	0.16	0.17
Other Income / (Expense), net	-3.33	-0.43	-0.21	0.18	-0.58
Weighted Average Basic Shares Outstanding	11.12M	729.82K	14.27M	14.96M	15.15M
Diluted Earnings per Share	$0.21	-	($0.08)	($0.01)	($0.05)
Weighted Average Diluted Shares Outstanding	11.12M	729.82K	14.27M	14.96M	14.98M
Weighted Average Basic & Diluted Shares Outstanding	11.12M	729.82K	14.27M	14.96M	15.15M

This table shows Royalty Management's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-0.25	-0.31	0.15	-0.12	-0.12	-0.03	-0.06	-0.05	-0.21	-0.41	-0.65
Consolidated Net Income / (Loss)	-0.25	-0.31	0.15	-0.12	-0.12	-0.03	-0.06	-0.05	-0.21	-0.41	-0.65
Net Income / (Loss) Continuing Operations	-0.25	-0.31	0.15	-0.12	-0.12	-0.03	-0.06	-0.05	-0.21	-0.41	-0.65
Total Pre-Tax Income	-0.25	-0.31	0.15	-0.12	-0.12	-0.03	-0.06	-0.05	-0.21	-0.41	-0.65
Total Operating Income	-0.07	-0.10	0.01	-0.13	-0.17	-0.02	-0.11	-0.05	-0.10	-0.04	-0.09
Total Gross Profit	0.12	0.13	0.16	0.24	0.14	0.24	0.25	0.23	0.15	0.18	0.21
Total Revenue	0.12	0.13	0.16	0.25	0.15	0.25	0.92	1.33	1.30	1.40	1.64
Operating Revenue	0.12	0.13	0.16	0.25	0.15	0.25	0.92	1.33	1.30	1.40	1.64
Total Cost of Revenue	0.00	0.01	0.00	0.01	0.01	0.00	0.67	1.10	1.16	1.22	1.43
Operating Cost of Revenue	0.00	0.01	0.00	0.01	0.01	0.00	0.67	1.10	1.16	1.22	1.43
Total Operating Expenses	0.19	0.22	0.15	0.38	0.31	0.27	0.36	0.27	0.24	0.22	0.30
Selling, General & Admin Expense	0.17	0.16	0.13	0.36	0.30	0.25	0.35	0.26	0.23	0.20	0.28
Depreciation Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Amortization Expense	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Total Other Income / (Expense), net	-0.18	-0.21	0.14	0.02	0.05	-0.01	0.05	-0.00	-0.11	-0.37	-0.57
Interest Expense	0.21	0.05	0.06	0.04	0.03	0.01	0.01	0.01	0.00	-0.00	0.00
Interest & Investment Income	0.03	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05
Other Income / (Expense), net	-0.00	-0.21	0.16	0.02	0.04	-0.04	0.02	-0.04	-0.15	-0.42	-0.61
Weighted Average Basic Shares Outstanding	6.89M	14.27M	14.40M	14.95M	14.93M	14.96M	14.94M	14.72M	15.14M	15.15M	15.16M
Diluted Earnings per Share	-	-	$0.01	($0.01)	($0.01)	-	$0.00	$0.00	($0.01)	($0.04)	($0.04)
Weighted Average Diluted Shares Outstanding	6.89M	14.27M	14.50M	14.95M	14.95M	14.96M	14.94M	14.92M	14.93M	14.98M	15.15M
Weighted Average Basic & Diluted Shares Outstanding	6.89M	14.27M	14.40M	14.95M	14.93M	14.96M	14.94M	14.72M	15.14M	15.15M	15.16M

This table details how cash moves in and out of Royalty Management's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.97	6.17	-0.24	-0.06	0.02
Net Cash From Operating Activities	-1.37	0.44	-0.24	0.65	-0.01
Net Cash From Continuing Operating Activities	0.97	0.44	-0.24	0.65	-0.01
Net Income / (Loss) Continuing Operations	2.32	-2.71	-1.11	-0.11	-0.73
Consolidated Net Income / (Loss)	2.32	-2.71	-1.11	-0.11	-0.73
Depreciation Expense	-	0.00	0.08	0.06	0.06
Amortization Expense	-	0.77	0.03	0.00	0.04
Non-Cash Adjustments To Reconcile Net Income	-1.35	1.99	-0.04	1.42	0.95
Changes in Operating Assets and Liabilities, net	-	0.39	0.81	-0.72	-0.33
Net Cash From Investing Activities	0.00	-3.31	-0.82	-0.02	-0.24
Net Cash From Continuing Investing Activities	0.00	2.26	-0.82	-0.02	-0.24
Acquisitions	-	-	-0.11	-0.13	-0.06
Sale and/or Maturity of Investments	-	-	0.10	0.14	0.04
Other Investing Activities, net	-	1.66	-0.81	-0.04	-0.23
Net Cash From Financing Activities	108	3.48	0.82	-0.69	0.27
Net Cash From Continuing Financing Activities	0.00	3.48	0.82	-0.69	0.27
Repayment of Debt	-1.25	-	0.00	-1.70	-0.25
Repurchase of Preferred Equity	-	-	-	0.00	0.38
Repurchase of Common Equity	-	-	-	-0.03	-0.11
Payment of Dividends	-	-	-	0.00	-0.11
Issuance of Debt	1.25	1.29	0.49	1.04	0.00
Other Financing Activities, net	-	2.19	0.33	0.00	0.35
Cash Interest Paid	-	0.00	0.00	0.00	0.00
Cash Income Taxes Paid	-	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Royalty Management's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.03	0.12	-3.95	5.83	-1.92	-0.02	0.02	0.01	0.03	-0.04	0.21
Net Cash From Operating Activities	-0.28	0.22	-0.29	-0.41	0.44	0.90	-0.13	0.25	0.02	0.05	-0.10
Net Cash From Continuing Operating Activities	-0.21	0.26	-0.29	-0.41	0.44	0.90	-0.13	0.25	0.02	0.05	-0.10
Net Income / (Loss) Continuing Operations	-0.31	-0.31	0.15	-0.12	-0.04	-0.11	-0.06	-0.05	0.11	-0.73	-0.65
Consolidated Net Income / (Loss)	-0.31	-0.31	0.15	-0.12	-	-	-0.06	-0.05	-	-	-0.65
Depreciation Expense	0.01	0.03	0.01	-0.01	0.00	0.06	0.01	-0.01	0.00	0.06	0.02
Amortization Expense	-0.14	-0.03	0.00	0.03	0.02	-0.04	0.02	0.03	0.01	-0.02	0.00
Non-Cash Adjustments To Reconcile Net Income	-0.02	0.22	0.13	-0.43	0.67	1.04	0.18	0.31	-0.05	0.70	0.58
Changes in Operating Assets and Liabilities, net	0.25	0.35	-0.59	0.12	-0.21	-0.04	-0.29	-0.02	-0.05	0.04	-0.05
Net Cash From Investing Activities	0.00	-0.28	-0.04	-0.05	-0.13	0.19	-0.20	-0.17	-0.02	-0.05	-0.14
Net Cash From Continuing Investing Activities	0.00	-0.28	-0.04	-0.05	-0.13	0.19	-0.20	-0.17	-0.02	-0.05	-0.14
Purchase of Property, Plant & Equipment	-	-	-	-	-	-	0.00	-	-	-	-0.02
Acquisitions	-	-0.11	-0.00	-0.00	-0.13	0.00	0.00	-0.00	-0.02	-0.04	-0.11
Purchase of Investments	-	-	-	-	-	-	-0.20	-	-	-	0.00
Other Investing Activities, net	0.00	-0.27	-0.04	-0.05	-	0.04	-0.00	-0.21	-	-0.01	-0.00
Net Cash From Financing Activities	0.26	0.18	0.26	0.37	-0.21	-1.11	0.35	-0.07	0.02	-0.04	0.45
Net Cash From Continuing Financing Activities	0.26	0.18	-3.62	6.28	-2.23	-1.11	0.35	-0.07	0.02	-0.04	0.45
Repurchase of Preferred Equity	-	-	0.00	-	1.11	-1.11	0.38	-	-	-	0.32
Repurchase of Common Equity	-	-	0.00	-0.01	-0.02	-	-0.03	-0.03	-0.05	-	0.00
Payment of Dividends	-	-	-	-	-	-	0.00	-	-0.04	-0.04	-0.04
Issuance of Debt	0.26	-0.17	-	-	-	-	0.00	-	-	-	0.17
Cash Interest Paid	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Cash Income Taxes Paid	-	-	0.00	-	-	-	0.00	-	-	-	0.00

This table presents Royalty Management's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	107	14	15	15	17
Total Current Assets	1.07	0.58	0.70	0.75	2.24
Cash & Equivalents	0.29	0.43	0.20	0.11	0.13
Note & Lease Receivable	-	0.24	0.12	0.26	0.39
Accounts Receivable	0.68	0.07	0.07	0.18	1.66
Prepaid Expenses	0.10	-	0.00	0.00	0.00
Other Current Assets	0.00	0.02	0.31	0.19	0.05
Plant, Property, & Equipment, net	0.00	0.01	0.01	0.00	0.00
Total Noncurrent Assets	106	13	14	14	14
Long-Term Investments	-	10	10	10	10
Noncurrent Note & Lease Receivables	-	0.60	1.64	1.43	1.69
Intangible Assets	-	2.01	1.90	1.97	1.97
Other Noncurrent Operating Assets	106	0.32	0.56	0.55	0.50
Total Liabilities & Shareholders' Equity	107	14	15	15	17
Total Liabilities	8.90	4.30	3.93	1.41	2.96
Total Current Liabilities	0.10	0.55	1.36	0.99	1.97
Accounts Payable	0.10	0.00	0.10	0.49	1.61
Accrued Expenses	-	0.49	0.82	0.22	0.25
Customer Deposits	-	-	-	0.00	0.03
Dividends Payable	-	-	-	0.00	0.04
Other Current Liabilities	-	0.02	0.41	0.03	0.04
Other Current Nonoperating Liabilities	-	-	-	-	0.00
Total Noncurrent Liabilities	8.80	3.75	2.57	0.43	0.99
Long-Term Debt	-	2.19	1.68	-	0.00
Capital Lease Obligations	-	-	-	0.33	0.31
Other Noncurrent Operating Liabilities	5.30	1.56	0.88	0.10	0.68
Commitments & Contingencies	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	98	9.67	11	12	14
Total Preferred & Common Equity	-7.82	9.67	11	14	14
Preferred Stock	-	0.00	0.00	0.00	2.23
Total Common Equity	98	9.67	11	12	11
Common Stock	96	12	9.77	11	11
Retained Earnings	2.32	-2.77	1.35	1.23	0.51
Other Equity Adjustments	0.00	-	-	0.00	-0.11

This table presents Royalty Management's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3.80	15	15	15	16	17	18	17
Total Current Assets	0.17	0.78	0.78	0.90	1.45	2.44	3.61	2.62
Cash & Equivalents	0.10	0.12	0.04	0.15	0.13	0.15	0.17	0.34
Note & Lease Receivable	-	0.16	0.20	0.24	0.30	0.33	0.35	0.44
Accounts Receivable	0.00	0.14	0.16	0.13	0.81	1.95	3.05	1.76
Prepaid Expenses	0.00	0.03	0.03	0.02	0.00	0.00	0.00	0.01
Other Current Assets	0.07	-	0.35	0.37	0.21	0.02	0.04	0.07
Plant, Property, & Equipment, net	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.02
Total Noncurrent Assets	3.63	14	14	14	14	14	14	14
Long-Term Investments	-	10	10	10	10	10	10	10
Noncurrent Note & Lease Receivables	-	1.67	1.72	1.72	1.53	1.69	1.69	1.69
Intangible Assets	-	1.89	1.88	1.99	1.96	1.94	1.94	2.07
Other Noncurrent Operating Assets	3.63	0.57	0.56	0.55	0.54	0.54	0.53	0.47
Total Liabilities & Shareholders' Equity	3.80	15	15	15	16	17	18	17
Total Liabilities	5.42	3.53	2.98	1.85	1.74	2.93	3.95	3.74
Total Current Liabilities	1.21	1.34	1.48	1.12	1.33	2.48	3.37	2.16
Accounts Payable	1.21	0.48	0.10	0.48	0.78	1.88	3.04	1.64
Accrued Expenses	-	0.33	0.47	0.33	0.26	0.28	0.26	0.28
Customer Deposits	-	-	-	-	-	-	-	0.00
Dividends Payable	-	-	-	-	-	0.04	0.04	0.04
Other Current Liabilities	-	0.03	0.41	0.03	0.03	0.04	0.04	0.03
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	4.21	2.19	1.50	0.73	0.42	0.44	0.58	1.75
Long-Term Debt	-	1.72	0.00	0.00	-	-	-	0.17
Capital Lease Obligations	-	-	-	-	0.34	0.33	0.32	0.29
Other Noncurrent Operating Liabilities	4.21	0.46	1.50	0.73	0.08	0.12	0.27	1.30
Commitments & Contingencies	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	-1.62	12	12	14	14	14	14	13
Total Preferred & Common Equity	-5.26	12	12	14	14	14	14	13
Preferred Stock	-	0.00	0.00	1.51	2.05	2.11	2.17	2.61
Total Common Equity	-1.62	12	12	12	12	12	12	11
Common Stock	-6.50	10	11	11	11	11	11	11
Retained Earnings	4.88	1.50	1.38	1.26	1.17	1.12	0.91	-0.14
Other Equity Adjustments	-	-	-	-	-	-0.04	-0.07	-0.15

This table displays calculated financial ratios and metrics derived from Royalty Management's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	13,481,002.00	742,308.00	742,308.00	29,865,836.00	15,140,734.00
DEI Adjusted Shares Outstanding	13,481,002.00	742,308.00	742,308.00	29,865,836.00	15,140,734.00
DEI Earnings Per Adjusted Shares Outstanding	-0.32	-3.65	-1.50	0.00	-0.05
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	173.22%	65.21%	513.30%
EBITDA Growth	0.00%	55.35%	79.04%	81.98%	-965.57%
EBIT Growth	0.00%	37.55%	80.96%	73.54%	-543.07%
NOPAT Growth	0.00%	-222.04%	90.62%	-2.19%	6.00%
Net Income Growth	0.00%	-67.24%	-246.74%	89.74%	-536.17%
EPS Growth	0.00%	0.00%	0.00%	87.50%	-400.00%
Operating Cash Flow Growth	0.00%	132.03%	-153.88%	372.84%	-101.39%
Free Cash Flow Firm Growth	0.00%	0.00%	-101.45%	-15.77%	93.57%
Invested Capital Growth	0.00%	-98.74%	93.85%	57.26%	-2.75%
Revenue Q/Q Growth	0.00%	0.00%	21.23%	16.00%	30.32%
EBITDA Q/Q Growth	0.00%	0.00%	-104.98%	77.62%	-89.72%
EBIT Q/Q Growth	0.00%	0.00%	-106.32%	63.45%	-79.27%
NOPAT Q/Q Growth	0.00%	0.00%	87.99%	19.03%	-5.05%
Net Income Q/Q Growth	0.00%	0.00%	37.23%	70.89%	-108.59%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-400.00%
Operating Cash Flow Q/Q Growth	0.00%	213.08%	-0.36%	2,342.51%	-101.06%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	70.67%	86.82%
Invested Capital Q/Q Growth	0.00%	0.00%	238.98%	9.85%	-8.63%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	97.39%	96.60%	97.19%	16.26%
EBITDA Margin	0.00%	-1,083.71%	-83.12%	-9.07%	-15.75%
Operating Margin	0.00%	-1,275.18%	-62.57%	-38.70%	-5.93%
EBIT Margin	0.00%	-1,515.76%	-105.61%	-16.91%	-17.73%
Profit (Net Income) Margin	0.00%	424.46%	-227.96%	-14.16%	-14.68%
Tax Burden Percent	-53.39%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	-28.00%	215.86%	83.71%	82.81%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-4.60%	-11.81%	-7.11%	-5.55%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-74.20%	-1.33%	-8.34%	0.15%
Return on Net Nonoperating Assets (RNNOA)	0.00%	6.00%	1.10%	6.13%	-0.11%
Return on Equity (ROE)	2.36%	1.41%	-10.72%	-0.99%	-5.66%
Cash Return on Invested Capital (CROIC)	0.00%	190.44%	-75.69%	-51.63%	-2.76%
Operating Return on Assets (OROA)	0.00%	-4.47%	-3.56%	-0.91%	-5.54%
Return on Assets (ROA)	0.00%	1.25%	-7.68%	-0.76%	-4.59%
Return on Common Equity (ROCE)	2.36%	1.41%	-10.72%	-0.99%	-5.16%
Return on Equity Simple (ROE_SIMPLE)	-29.61%	7.85%	-10.02%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.71	-2.28	-0.21	-0.22	-0.21
NOPAT Margin	0.00%	-1,275.18%	-43.80%	-27.09%	-4.15%
Net Nonoperating Expense Percent (NNEP)	1,031.81%	69.60%	-10.48%	1.23%	-5.70%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-1.67%	-1.74%	-1.47%
Cost of Revenue to Revenue	0.00%	2.61%	3.40%	2.81%	83.74%
SG&A Expenses to Revenue	0.00%	239.91%	136.97%	128.65%	21.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	-878.14%	159.17%	135.89%	22.19%
Earnings before Interest and Taxes (EBIT)	-4.34	-2.71	-0.52	-0.14	-0.88
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.34	-1.94	-0.41	-0.07	-0.78
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	1.38	0.77	0.11	1.23	4.08
Price to Tangible Book Value (P/TBV)	1.38	0.97	0.14	1.48	4.93
Price to Revenue (P/Rev)	0.00	41.56	2.58	18.37	9.44
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.24%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.38	0.00	0.00	1.35	10.64
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	6.26	7.86
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	7.82	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.23	0.15	0.05	0.02
Long-Term Debt to Equity	0.00	0.23	0.15	0.03	0.02
Financial Leverage	0.00	-0.08	-0.83	-0.73	-0.71
Leverage Ratio	1.09	1.12	1.40	1.30	1.23
Compound Leverage Factor	1.09	-0.31	3.01	1.09	1.02
Debt to Total Capital	0.00%	18.61%	13.28%	4.58%	2.20%
Short-Term Debt to Total Capital	0.00%	0.20%	0.16%	1.99%	0.00%
Long-Term Debt to Total Capital	0.00%	18.41%	13.12%	2.59%	2.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	15.95%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	81.39%	86.72%	95.42%	81.85%
Debt to EBITDA	0.00	-1.14	-4.19	-7.87	-0.40
Net Debt to EBITDA	0.00	4.36	21.49	133.57	12.92
Long-Term Debt to EBITDA	0.00	-1.13	-4.14	-4.46	-0.40
Debt to NOPAT	0.00	-0.97	-7.95	-2.64	-1.50
Net Debt to NOPAT	0.00	3.70	40.77	44.70	49.01
Long-Term Debt to NOPAT	0.00	-0.96	-7.86	-1.49	-1.50
Altman Z-Score	9.04	0.14	0.18	6.41	9.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	8.69%
Liquidity Ratios	-	-	-	-	-
Current Ratio	10.81	1.06	0.51	0.76	1.14
Quick Ratio	9.78	1.35	0.29	0.56	1.11
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	94	-1.37	-1.59	-0.10
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	130.73	-1.92	-11.72	-5.35
Operating Cash Flow to Interest Expense	0.00	0.61	-0.33	4.77	-0.47
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.61	-0.33	4.77	-0.47
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.00	0.03	0.05	0.31
Accounts Receivable Turnover	0.00	0.48	6.89	6.43	5.37
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	78.67	174.52	1,628.80
Accounts Payable Turnover	0.00	0.00	0.00	0.08	3.95
Days Sales Outstanding (DSO)	0.00	761.99	53.00	56.80	67.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	4,684.43	92.51
Cash Conversion Cycle (CCC)	0.00	761.99	53.00	-4,627.62	-24.55
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	98	1.23	2.39	3.76	3.65
Invested Capital Turnover	0.00	0.00	0.27	0.26	1.34
Increase / (Decrease) in Invested Capital	0.00	-97	1.16	1.37	-0.10
Enterprise Value (EV)	135	-1.01	-7.46	5.05	39
Market Capitalization	135	7.43	1.26	15	47
Book Value per Share	$7.29	$13.03	$14.97	$0.80	$0.76
Tangible Book Value per Share	$7.29	$10.32	$12.41	$0.67	$0.63
Total Capital	98	12	13	13	14
Total Debt	0.00	2.21	1.70	0.58	0.31
Total Long-Term Debt	0.00	2.19	1.68	0.33	0.31
Net Debt	-0.29	-8.44	-8.72	-9.77	-10
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.68	-0.38	-0.84	-0.10	0.14
Debt-free Net Working Capital (DFNWC)	0.97	0.06	-0.64	0.01	0.27
Net Working Capital (NWC)	0.97	0.03	-0.66	-0.24	0.27
Net Nonoperating Expense (NNE)	-3.02	-3.04	0.90	-0.10	0.52
Net Nonoperating Obligations (NNO)	-0.29	-8.44	-8.72	-8.26	-10
Total Depreciation and Amortization (D&A)	0.00	0.77	0.11	0.06	0.10
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-210.91%	-170.98%	-12.50%	2.75%
Debt-free Net Working Capital to Revenue	0.00%	31.45%	-130.97%	1.64%	5.43%
Net Working Capital to Revenue	0.00%	18.03%	-135.06%	-29.33%	5.43%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	15.15M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	14.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	15.15M
Normalized Net Operating Profit after Tax (NOPAT)	-0.71	-3.00	-0.19	-0.22	-0.21
Normalized NOPAT Margin	0.00%	-1,675.62%	-38.14%	-27.09%	-4.15%
Pre Tax Income Margin	0.00%	424.46%	-227.96%	-14.16%	-14.68%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	-3.75	-0.72	-1.01	-46.02
NOPAT to Interest Expense	0.00	-3.15	-0.30	-1.62	-10.77
EBIT Less CapEx to Interest Expense	0.00	-3.75	-0.72	-1.01	-46.02
NOPAT Less CapEx to Interest Expense	0.00	-3.15	-0.30	-1.62	-10.77
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-15.43%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-25.11%	-29.88%

This table displays calculated financial ratios and metrics derived from Royalty Management's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	1,562,685.00	742,308.00	742,308.00	14,964,095.00	14,954,504.00	29,865,836.00	14,958,817.00	14,938,128.00	14,724,892.00	15,140,734.00	15,149,705.00
DEI Adjusted Shares Outstanding	1,562,685.00	742,308.00	742,308.00	14,964,095.00	14,954,504.00	29,865,836.00	14,958,817.00	14,938,128.00	14,724,892.00	15,140,734.00	15,149,705.00
DEI Earnings Per Adjusted Shares Outstanding	-0.16	-0.42	0.21	-0.01	-0.01	0.00	0.00	0.00	-0.01	-0.03	-0.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-12.31%	20.16%	162.18%	18.58%	83.16%	469.54%	422.05%	794.59%	469.77%	77.22%
EBITDA Growth	75.31%	-110.40%	191.13%	63.19%	40.33%	83.61%	-130.38%	28.80%	-100.56%	-741.44%	-1,079.03%
EBIT Growth	91.30%	-110.35%	322.24%	-72.22%	-92.23%	78.37%	-152.46%	25.90%	-87.69%	-593.59%	-664.27%
NOPAT Growth	78.20%	95.51%	125.53%	-103.99%	-152.43%	77.12%	-664.20%	64.31%	41.95%	-64.74%	21.94%
Net Income Growth	68.20%	78.94%	154.78%	56.76%	52.59%	89.95%	-138.21%	57.94%	-75.48%	-1,216.72%	-1,010.30%
EPS Growth	0.00%	0.00%	125.00%	75.00%	0.00%	0.00%	-100.00%	100.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-186.50%	-43.95%	34.38%	-94.19%	255.68%	301.64%	53.47%	161.46%	-95.01%	-94.88%	23.19%
Free Cash Flow Firm Growth	-95.47%	0.00%	-123.91%	-117.94%	-222.29%	-13.08%	68.66%	0.79%	87.68%	105.66%	207.19%
Invested Capital Growth	-165.42%	93.85%	284.66%	258.28%	298.97%	57.26%	20.82%	74.03%	16.92%	-2.75%	-21.91%
Revenue Q/Q Growth	85.07%	8.97%	21.12%	56.83%	-42.71%	68.32%	276.62%	43.76%	-1.84%	7.21%	17.14%
EBITDA Q/Q Growth	-400.65%	-55.58%	162.92%	-151.32%	-18.79%	57.28%	-16.64%	-20.28%	-234.60%	-79.25%	-63.43%
EBIT Q/Q Growth	33.03%	-339.64%	157.88%	-165.10%	-16.06%	50.53%	-40.36%	8.04%	-193.96%	-82.80%	-54.66%
NOPAT Q/Q Growth	34.61%	-41.81%	120.70%	-784.37%	-25.63%	87.14%	-410.47%	56.71%	-104.31%	63.52%	-141.87%
Net Income Q/Q Growth	-14.09%	-23.08%	149.70%	-176.59%	-1.19%	73.90%	-88.92%	15.70%	-322.18%	-95.85%	-59.30%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-200.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-300.00%	0.00%
Operating Cash Flow Q/Q Growth	-665.12%	179.23%	-227.48%	-42.68%	208.03%	104.41%	-114.77%	176.49%	-91.23%	109.87%	-321.51%
Free Cash Flow Firm Q/Q Growth	-57.47%	-128.45%	-108.96%	28.90%	-189.27%	73.69%	42.10%	-125.13%	64.08%	112.09%	996.93%
Invested Capital Q/Q Growth	-357.64%	238.98%	45.36%	-31.17%	43.08%	9.85%	11.68%	-0.86%	-3.87%	-8.63%	-10.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	97.22%	94.22%	98.34%	94.74%	96.25%	99.52%	27.44%	16.97%	11.22%	12.90%	12.76%
EBITDA Margin	-158.84%	-226.78%	117.80%	-38.55%	-79.93%	-20.29%	-6.28%	-5.26%	-17.92%	-29.96%	-41.80%
Operating Margin	-54.66%	-71.14%	8.51%	-53.06%	-116.37%	-8.89%	-12.05%	-3.63%	-7.55%	-2.57%	-5.31%
EBIT Margin	-55.99%	-225.87%	107.93%	-44.80%	-90.76%	-26.67%	-9.94%	-6.36%	-19.04%	-32.47%	-42.87%
Profit (Net Income) Margin	-204.63%	-231.14%	94.85%	-46.32%	-81.82%	-12.69%	-6.36%	-3.73%	-16.05%	-29.32%	-39.87%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	365.51%	102.33%	87.88%	103.40%	90.15%	47.57%	64.02%	58.69%	84.29%	90.30%	93.01%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-33.94%	-13.43%	2.01%	-16.35%	-66.61%	-1.63%	-3.45%	-2.05%	-5.41%	-2.40%	-5.63%
ROIC Less NNEP Spread (ROIC-NNEP)	174.00%	-10.60%	-1.42%	-15.87%	-66.60%	-1.45%	-3.66%	-1.89%	-4.02%	1.80%	0.32%
Return on Net Nonoperating Assets (RNNOA)	-30.94%	8.75%	0.92%	12.11%	57.10%	1.06%	2.56%	1.41%	2.94%	-1.28%	-0.23%
Return on Equity (ROE)	-64.88%	-4.68%	2.93%	-4.24%	-9.51%	-0.57%	-0.88%	-0.63%	-2.47%	-3.68%	-5.86%
Cash Return on Invested Capital (CROIC)	0.00%	-75.69%	-124.33%	-125.69%	-158.15%	-51.63%	-26.84%	-61.52%	-20.88%	-2.76%	19.56%
Operating Return on Assets (OROA)	-3.81%	-7.61%	5.38%	-2.90%	-6.58%	-1.43%	-1.01%	-1.05%	-4.33%	-10.14%	-14.78%
Return on Assets (ROA)	-13.94%	-7.78%	4.73%	-2.99%	-5.93%	-0.68%	-0.65%	-0.62%	-3.65%	-9.16%	-13.75%
Return on Common Equity (ROCE)	-64.88%	-4.68%	1.69%	-4.24%	-8.31%	-0.57%	-0.81%	-0.58%	-2.14%	-3.36%	-4.86%
Return on Equity Simple (ROE_SIMPLE)	33.72%	0.00%	-5.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.05	-0.07	0.01	-0.09	-0.12	-0.02	-0.08	-0.03	-0.07	-0.03	-0.06
NOPAT Margin	-38.26%	-49.80%	8.51%	-37.14%	-81.46%	-6.22%	-8.43%	-2.54%	-5.29%	-1.80%	-3.71%
Net Nonoperating Expense Percent (NNEP)	-207.94%	-2.83%	3.42%	-0.47%	-0.01%	-0.19%	0.21%	-0.16%	-1.39%	-4.20%	-5.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.52%	0.10%	-0.75%	-0.86%	-0.12%	-0.53%	-0.23%	-0.48%	-0.18%	-0.44%
Cost of Revenue to Revenue	2.78%	5.78%	1.66%	5.26%	3.75%	0.48%	72.56%	83.03%	88.78%	87.10%	87.24%
SG&A Expenses to Revenue	137.84%	122.94%	80.82%	142.05%	202.59%	102.45%	37.90%	19.49%	17.65%	14.42%	17.10%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	151.88%	165.36%	89.83%	147.80%	212.62%	108.41%	39.48%	20.60%	18.77%	15.47%	18.06%
Earnings before Interest and Taxes (EBIT)	-0.07	-0.30	0.17	-0.11	-0.13	-0.07	-0.09	-0.08	-0.25	-0.45	-0.70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.20	-0.30	0.19	-0.10	-0.12	-0.05	-0.06	-0.07	-0.23	-0.42	-0.68
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.11	0.07	0.94	1.20	1.23	1.38	1.64	2.62	4.08	4.18
Price to Tangible Book Value (P/TBV)	0.00	0.14	0.09	1.12	1.44	1.48	1.66	1.96	3.14	4.93	5.17
Price to Revenue (P/Rev)	42.07	2.58	1.67	17.09	20.74	18.37	10.53	7.34	8.22	9.44	7.95
Price to Earnings (P/E)	3.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	0.24%	0.24%	0.34%
Earnings Yield	31.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.72	1.70	1.35	2.09	2.81	5.82	10.64	11.43
Enterprise Value to Revenue (EV/Rev)	41.83	0.00	0.00	2.54	8.35	6.26	5.60	4.43	6.13	7.86	6.62
Enterprise Value to EBITDA (EV/EBITDA)	2.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	2.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	7.82	10.99	9.26	27.59	0.00	1,716.42
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	51.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.15	0.19	0.04	0.02	0.05	0.04	0.04	0.02	0.02	0.03
Long-Term Debt to Equity	0.00	0.15	0.15	0.00	0.00	0.03	0.02	0.02	0.02	0.02	0.03
Financial Leverage	-0.18	-0.83	-0.65	-0.76	-0.86	-0.73	-0.70	-0.75	-0.73	-0.71	-0.73
Leverage Ratio	10.71	1.40	1.65	1.61	1.61	1.30	1.21	1.23	1.21	1.23	1.20
Compound Leverage Factor	39.13	1.43	1.45	1.67	1.45	0.62	0.77	0.72	1.02	1.11	1.12
Debt to Total Capital	0.00%	13.28%	16.00%	3.81%	1.83%	4.58%	4.03%	3.98%	2.21%	2.20%	3.28%
Short-Term Debt to Total Capital	0.00%	0.16%	3.54%	3.81%	1.83%	1.99%	1.72%	1.72%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	13.12%	12.46%	0.00%	0.00%	2.59%	2.31%	2.26%	2.21%	2.20%	3.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	10.91%	0.00%	14.04%	14.53%	15.09%	15.95%	18.90%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	86.72%	84.00%	96.19%	87.26%	95.42%	81.93%	81.50%	82.70%	81.85%	77.83%
Debt to EBITDA	0.00	-4.19	-398.69	-3.48	-0.77	-7.87	-1.82	-1.96	-0.77	-0.40	-0.32
Net Debt to EBITDA	0.00	21.49	1,467.36	70.58	30.98	133.57	30.37	33.38	24.58	12.92	7.22
Long-Term Debt to EBITDA	0.00	-4.14	-310.59	0.00	0.00	-4.46	-1.04	-1.11	-0.77	-0.40	-0.32
Debt to NOPAT	0.00	-7.95	-14.73	-2.43	-0.93	-2.64	-1.92	-2.35	-1.63	-1.50	-2.40
Net Debt to NOPAT	0.00	40.77	54.19	49.34	37.50	44.70	31.96	39.97	51.62	49.01	53.82
Long-Term Debt to NOPAT	0.00	-7.86	-11.47	0.00	0.00	-1.49	-1.10	-1.33	-1.63	-1.50	-2.40
Altman Z-Score	3.39	0.23	0.31	2.40	4.81	6.42	5.89	4.21	4.99	9.74	7.43
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	42.28%	0.00%	12.63%	0.00%	7.99%	8.07%	13.31%	8.69%	17.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.14	0.51	0.58	0.52	0.81	0.76	1.10	0.98	1.07	1.14	1.21
Quick Ratio	0.08	0.29	0.32	0.27	0.46	0.56	0.94	0.98	1.06	1.11	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4.30	-1.22	-2.56	-1.82	-5.26	-1.38	-0.80	-1.80	-0.65	0.08	0.86
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-486.31%
Free Cash Flow to Firm to Interest Expense	20.28	-22.37	-43.97	-42.44	-191.57	-199.32	-115.10	-250.07	-132.19	0.00	466.51
Operating Cash Flow to Interest Expense	-1.33	4.09	-4.91	-9.50	16.02	129.49	-19.07	34.69	4.48	0.00	-55.39
Operating Cash Flow Less CapEx to Interest Expense	-1.33	4.09	-4.91	-9.50	16.02	129.49	-19.07	34.69	4.48	0.00	-66.77
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.03	0.05	0.06	0.07	0.05	0.10	0.16	0.23	0.31	0.34
Accounts Receivable Turnover	0.00	6.89	0.00	0.00	0.00	6.43	3.31	2.50	2.39	5.37	4.41
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	78.67	0.00	0.00	0.00	174.52	370.91	689.24	1,105.62	1,628.80	449.38
Accounts Payable Turnover	0.15	0.00	0.02	0.05	0.03	0.08	1.09	1.79	1.66	3.95	4.05
Days Sales Outstanding (DSO)	0.00	53.00	0.00	0.00	0.00	56.80	110.37	146.17	152.86	67.96	82.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	2,428.73	0.00	14,707.58	7,882.47	10,570.42	4,684.43	333.42	203.46	219.56	92.51	90.22
Cash Conversion Cycle (CCC)	-2,428.73	53.00	-14,707.58	-7,882.47	-10,570.42	-4,627.62	-223.06	-57.30	-66.69	-24.55	-7.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1.72	2.39	3.47	2.39	3.42	3.76	4.20	4.16	4.00	3.65	3.28
Invested Capital Turnover	0.89	0.27	0.24	0.44	0.82	0.26	0.41	0.81	1.02	1.34	1.52
Increase / (Decrease) in Invested Capital	-4.35	1.16	2.57	1.72	5.14	1.37	0.72	1.77	0.58	-0.10	-0.92
Enterprise Value (EV)	17	-7.46	-7.28	1.71	5.81	5.05	8.78	12	23	39	37
Market Capitalization	17	1.26	0.86	12	14	15	17	19	31	47	45
Book Value per Share	($1.04)	$14.97	$15.65	$0.81	$0.81	$0.80	$0.80	$0.79	$0.81	$0.76	$0.71
Tangible Book Value per Share	($1.04)	$12.41	$13.10	$0.69	$0.67	$0.67	$0.67	$0.66	$0.68	$0.63	$0.57
Total Capital	-1.62	13	14	13	14	13	15	15	14	14	14
Total Debt	0.00	1.70	2.21	0.48	0.25	0.58	0.59	0.58	0.32	0.31	0.45
Total Long-Term Debt	0.00	1.68	1.72	0.00	0.00	0.33	0.34	0.33	0.32	0.31	0.45
Net Debt	-0.10	-8.72	-8.14	-9.79	-10	-9.77	-9.78	-9.81	-10	-10	-10
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.14	-0.84	-0.20	-0.26	-0.11	-0.10	0.24	0.06	0.07	0.14	0.12
Debt-free Net Working Capital (DFNWC)	-1.04	-0.64	-0.07	-0.22	0.04	0.01	0.38	0.21	0.24	0.27	0.46
Net Working Capital (NWC)	-1.04	-0.66	-0.56	-0.71	-0.21	-0.24	0.13	-0.04	0.24	0.27	0.46
Net Nonoperating Expense (NNE)	0.20	0.24	-0.14	0.02	0.00	0.02	-0.02	0.02	0.14	0.38	0.59
Net Nonoperating Obligations (NNO)	-0.10	-8.72	-8.14	-9.79	-10	-8.26	-9.78	-9.77	-10	-10	-10
Total Depreciation and Amortization (D&A)	-0.13	-0.00	0.02	0.02	0.02	0.02	0.03	0.01	0.01	0.04	0.02
Debt-free, Cash-free Net Working Capital to Revenue	-282.52%	-170.98%	-38.05%	-39.04%	-15.37%	-12.50%	15.57%	2.42%	1.74%	2.75%	2.05%
Debt-free Net Working Capital to Revenue	-258.09%	-130.97%	-13.85%	-33.22%	5.52%	1.64%	24.02%	7.97%	6.30%	5.43%	8.12%
Net Working Capital to Revenue	-258.09%	-135.06%	-108.67%	-104.99%	-30.69%	-29.33%	8.08%	-1.49%	6.30%	5.43%	8.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	742.31K	14.27M	0.00	0.00	14.93M	14.96M	14.94M	14.72M	15.14M	15.15M	15.16M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.01)	($0.04)	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	742.31K	14.27M	0.00	0.00	14.93M	14.96M	14.94M	14.92M	14.93M	14.98M	15.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	742.31K	14.27M	0.00	0.00	14.93M	14.96M	14.94M	14.72M	15.14M	15.15M	15.16M
Normalized Net Operating Profit after Tax (NOPAT)	-0.05	-0.07	0.01	-0.09	-0.12	-0.02	-0.08	-0.03	-0.07	-0.03	-0.06
Normalized NOPAT Margin	-38.26%	-49.80%	5.96%	-37.14%	-81.46%	-6.22%	-8.43%	-2.54%	-5.29%	-1.80%	-3.71%
Pre Tax Income Margin	-204.63%	-231.14%	94.85%	-46.32%	-81.82%	-12.69%	-6.36%	-3.73%	-16.05%	-29.32%	-39.87%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.32	-5.53	3.01	-2.66	-4.81	-9.42	-13.18	-11.70	-50.62	0.00	-380.99
NOPAT to Interest Expense	-0.22	-1.22	0.24	-2.20	-4.32	-2.20	-11.18	-4.67	-14.05	0.00	-33.01
EBIT Less CapEx to Interest Expense	-0.32	-5.53	3.01	-2.66	-4.81	-9.42	-13.18	-11.70	-50.62	0.00	-392.38
NOPAT Less CapEx to Interest Expense	-0.22	-1.22	0.24	-2.20	-4.32	-2.20	-11.18	-4.67	-14.05	0.00	-44.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-15.43%	-11.36%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-25.11%	-17.96%	0.00%	0.00%	-29.88%	-17.04%

Financials Breakdown Chart

Key Financial Trends

Royalty Management Holding Corp. (NASDAQ: RMCO) showed a mixed but generally improving operating picture in the most recent quarter, with revenue growth and a better operating cash flow trend, but the company remains unprofitable and continues to rely on non-operating items and financing activity to support results.

For Q1 2026, revenue increased to $1.64 million, up from $1.40 million in Q4 2025 and $1.30 million in Q3 2025. Gross profit also improved sequentially to $208.7 thousand, although operating expenses remained high enough to push the company to an operating loss of $86.8 thousand.

Net income remains deeply negative because of other expenses below the operating line. RMCO reported a Q1 2026 net loss of $652.4 thousand, wider than the $409.5 thousand loss in Q4 2025 and the $209.1 thousand loss in Q3 2025. The big swing came from other income/expense, net of negative $565.6 thousand, which overwhelmed the company’s gross profit.

Cash flow was a key bright spot in Q1 2026. The company generated negative $102.0 thousand of operating cash flow, which is still weak, but that was better than the prior-quarter pattern in some periods and improved from the much larger operating outflow seen earlier in the year. More importantly, net cash increased by $210.9 thousand during the quarter, helped by financing inflows.

On the balance sheet, RMCO ended Q1 2026 with $343.9 thousand in cash and $17.1 million in total assets. The company also held $10.3 million in long-term investments, which remains its largest asset category and provides balance sheet support.

However, liabilities are still meaningful. Total liabilities stood at $3.74 million, including $2.16 million in current liabilities. Accounts payable alone was $1.64 million, which is a notable working-capital obligation relative to the company’s cash balance.

Equity remains sizable at $13.38 million, but the retained earnings line is negative in Q1 2026, reflecting the company’s accumulated losses over time. That reinforces the point that RMCO’s balance sheet strength depends heavily on asset values and financing structure rather than sustained profitability.

Revenue grew sequentially to $1.64 million in Q1 2026, extending the recent top-line recovery.
Gross profit improved to $208.7 thousand, showing the core business is still producing positive spread above direct costs.
Cash balance rose to $343.9 thousand at quarter-end.
Total assets remained solid at $17.1 million, supported by $10.3 million in long-term investments.
Net cash increased during the quarter by $210.9 thousand.
Operating cash flow was still negative at $102.0 thousand, so the business is not yet consistently self-funding.
The company continued to rely on financing activity to support liquidity.
Large investment holdings may help the balance sheet, but their liquidity and market value can change.
Net loss widened sharply to $652.4 thousand in Q1 2026.
Other income/expense was highly unfavorable, with a $565.6 thousand negative swing weighing heavily on earnings.

Bottom line: RMCO’s latest quarter shows better revenue momentum and improved liquidity, but profitability remains volatile and weak. For retail investors, the key question is whether the company can convert its asset base and higher sales into consistent operating cash flow and lower reliance on non-operating items. Until then, the stock likely remains a higher-risk story.

07/21/26 01:54 AM ETAI Generated. May Contain Errors.

Royalty Management Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Royalty Management's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Royalty Management's net income appears to be on a downward trend, with a most recent value of -$726.89 thousand in 2025, falling from $2.32 million in 2021. The previous period was -$114.26 thousand in 2024. Check out Royalty Management's forecast to explore projected trends and price targets.

Royalty Management's total operating income in 2025 was -$293.62 thousand, based on the following breakdown:

Total Gross Profit: $804.78 thousand
Total Operating Expenses: $1.10 million

Over the last 4 years, Royalty Management's total revenue changed from $0.00 in 2021 to $4.95 million in 2025, a change of 494,991,600.0%.

Royalty Management's total liabilities were at $2.96 million at the end of 2025, a 109.4% increase from 2024, and a 66.7% decrease since 2021.

In the past 4 years, Royalty Management's cash and equivalents has ranged from $114.14 thousand in 2024 to $433.34 thousand in 2022, and is currently $133.06 thousand as of their latest financial filing in 2025.

Over the last 4 years, Royalty Management's book value per share changed from 7.29 in 2021 to 0.76 in 2025, a change of -89.6%.

Related Companies

Financial statements for NASDAQ:RMCO last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Royalty Management (RMCO) Financials

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Royalty Management (RMCO) Financials

Annual Income Statements for Royalty Management

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Quarterly Cash Flow Statements for Royalty Management

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Quarterly Metrics And Ratios for Royalty Management

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Key Financial Trends

Royalty Management Financials - Frequently Asked Questions

When does Royalty Management's financial year end?

How has Royalty Management's net income changed over the last 4 years?

What is Royalty Management's operating income?

How has Royalty Management's revenue changed over the last 4 years?

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How has Royalty Management's book value per share changed over the last 4 years?

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