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Lithium Royalty Corp. Achieves Record Q3 Revenue & Positive EBITDA

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Lithium Royalty Corp. (LIRC.TO) has announced its third quarter results for 2023, showcasing record revenue and its first positive Adjusted EBITDA post-IPO. The company, with exposure to leading lithium assets globally, has seen revenue growth despite a 45% drop in spot lithium prices. CEO Ernie Ortiz remains optimistic about the company’s future.

The royalty business model has been advantageous, especially with rising costs in the lithium sector. LRC’s strategic moves and the industry’s M&A activity signal a strong environment for capital allocation and long-term value creation.

Q3 2023 Performance Highlights

LRC reported 90 Lithium Carbonate Equivalent Tonnes (LCETs) or 887 Spodumene Concentrate Equivalent Tonnes (SCETs). Royalty income soared by 561% to $2,963 for the quarter, driven by Core Lithium Ltd. and Sigma Lithium’s Grota do Cirilo project’s commencement.

Adjusted EBITDA and Financial Strategy

The company introduced Adjusted EBITDA this quarter, removing non-cash and non-recurring items to present a clearer financial picture. Adjustments included foreign exchange, pre-IPO exploration expenses, and one-time IPO costs, providing a transparent view of LRC’s financial health.

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