REVENUE (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenue

Revenue by metal type attributable to each of our revenue sources is disaggregated as follows (amounts in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Stream revenue:
Gold	$	248,924	$	104,454	$	485,370	$	199,016
Silver	44,799		19,047		97,533		37,746
Copper	15,174		9,690		36,873		18,911
Zinc	2,067		—		$	3,965	$	—
Total stream revenue	$	310,964	$	133,191	$	623,741	$	255,673
Royalty revenue:
Gold	$	94,932	$	59,862	$	192,395	$	111,026
Silver	10,793		5,017		31,072		9,917
Copper	22,679		5,074		47,650		12,665
Other	11,171		6,499		24,806		13,799
Total royalty revenue	$	139,575	$	76,452	$	295,923	$	147,407
Total revenue	$	450,539	$	209,643	$	919,664	$	403,080

Revenue attributable to our principal stream and royalty interests is disaggregated as follows (amounts in thousands):

		Three Months Ended				Six Months Ended
	Metal(s)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Stream revenue:
Mount Milligan	Gold & Copper	$	57,576	$	63,655	$	114,898	$	106,463
Pueblo Viejo	Gold & Silver	44,904		25,619		100,773		54,369
Andacollo	Gold	49,107		9,489		76,258		22,234
Kansanshi	Gold	34,303		—		59,814		—
Other(1)	Various	125,074		34,428		271,998		72,607
Total stream revenue		$	310,964	$	133,191	$	623,741	$	255,673
Royalty revenue:
Cortez Legacy Zone	Gold	$	16,312	$	8,508	$	32,738	$	19,650
Cortez CC Zone	Gold	9,651		8,088		18,444		11,642
Other(1)	Various	113,612		59,856		244,741		116,115
Total royalty revenue		$	139,575	$	76,452	$	295,923	$	147,407
Total revenue		$	450,539	$	209,643	$	919,664	$	403,080

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(1)Individually, no stream or royalty included within the “Other” category contributed greater than 10% of our total revenue for either period.