Topaz Energy is a Canadian royalty and energy-infrastructure company that earns revenue mainly from royalty interests on oil and natural-gas production and from midstream and related infrastructure assets. Its model emphasizes high-margin, capital-light cash flows: operators fund development while Topaz collects royalties and infrastructure fees. Assets are concentrated in the Western Canadian Sedimentary Basin, with a large share of royalty acreage still undeveloped.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q4 2024 | 79.1 | — | 4.4 | — |
| Q1 2025 | 88.3 | — | 28 | — |
| Q2 2025 | 78.5 | — | 42.5 | — |
| Q4 2025 | 84.4 | 6.7% | 76.9 | 1,638.3% |
| Q1 2026 | 92.3 | 4.5% | 34 | 21.5% |
| Q2 2026 | 109.7 | 39.6% | 52.5 | 23.6% |
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