How Much Does Investor Relations PR Cost?

Investor relations PR costs about US$3,500 to CAD $15,000 per month for small public companies, based on fees that issuers disclosed in 2025 and 2026 announcements, and one larger program is priced at CAD $45,000 per quarter. Published vendor guides put mid-cap and larger programs higher, but those figures are not tied to named contracts. IPO communications, earnings work and analyst support are normally added to or folded into a retainer.

Last updated: November 5, 2026. Virgo PR publishes this guide and sells investor relations services. Every figure is labeled as disclosed, published or estimated.

What do public companies pay for investor relations each month?

Small public companies that disclosed their investor relations contracts in 2025 and 2026 paid from about US$3,500 to CAD $15,000 per month, and one paid CAD $45,000 per quarter. Listed issuers, especially on Canadian exchanges, often announce these engagements, which makes them the best documented prices available.

Company Investor relations provider Fee Date

Endurance Gold (TSXV: EDG) Rayleigh Capital US$3,500 per month June 2, 2025

Endurance Gold (TSXV: EDG) Freeform Communications C$3,000 per month June 2, 2025

First Phosphate (CSE: PHOS) Simone Capital $6,250 per month plus expenses May 18, 2026

Tower Resources (TSXV: TWR) Simone Capital C$6,500 per month July 30, 2026

Legacy Gold Mines (TSXV: LEGY) Oak Hill Financial C$12,000 per month plus expenses Effective August 26, 2026

Bitzero Adelaide Capital Markets CAD $15,000 per month plus 60,000 options Renewed October 2, 2026

Good Purpose Investments (CSE: GPIN) Alliance Advisors IR CAD $45,000 per quarter September 14, 2026

These are mostly small, Canadian-listed companies, so they say little about large-cap fees. Large issuers rarely announce their agency contracts.

What do published guides say about larger programs?

One vendor guide, from AM World Group, puts investor relations retainers at $5,000 to $15,000 per month for emerging companies, $15,000 to $30,000 for mid-cap growth companies and $30,000 to $60,000 or more for larger ones. The same guide prices private-company investor relations at $3,000 to $10,000 per month and project work such as IPO communications at $15,000 to $100,000 or more.

These are vendor-published ranges, not audited contracts, and the guide names no clients. Most of the small-cap fees in the first table fall inside its emerging-company tier, and the Endurance Gold fees sit just below it, which makes it a useful cross-check.

What does a public-company communications budget pay for?

A public-company investor relations fee usually pays for investor outreach, sell-side support, conferences and media work, and the contracts reviewed show the scope in plain terms. The Alliance Advisors IR agreement with Good Purpose Investments covers retail investor engagement and digital content, analyst, banker and sell-side support, conference visibility, media relations and stock surveillance.

The Simone Capital agreement with Tower Resources covers deal and non-deal roadshows, introductory meetings with prospective investors, daily outreach, telephone and email campaigns, social media and webinars. Tower's contract runs month to month with 30 days' notice, so a company can leave without a long commitment.

How much does IPO communications cost?

IPO communications has no separate line in an IPO budget, but the largest published cost, the underwriting fee, averages 4% to 7% of gross proceeds, according to PwC's review of public filings from about 1,300 companies. PwC lists the disclosed IPO cost categories as underwriting, legal, accounting, printing, SEC registration and FINRA filing, with roadshow expenses counted among the other costs.

Communications work therefore sits inside roadshow costs, an investor relations retainer or a separate project fee. The AM World Group guide gives $15,000 to $100,000 or more for project work such as IPO communications, which is a vendor range and not a disclosed contract. Virgo's guides to IPO quiet period rules and the pre-IPO communications plan cover what a company may say during the process.

Timing affects cost. ICR says its IPO advisory approach starts 12 to 24 months before banker and underwriter selection, so the communications spend begins well before the filing.

How much do earnings communications cost?

No source reviewed prices earnings communications on its own, because the work normally sits inside an investor relations retainer. Each quarter's cycle includes the earnings release, the call script, preparation for analyst questions and the call itself. KCSA's fact sheet lists earnings call planning, writing and management as part of its investor relations service.

The Alliance Advisors IR fee of CAD $45,000 per quarter is the closest documented quarterly figure, and its disclosed scope does not name earnings preparation separately. Ask any firm whether earnings preparation is included. Our earnings call preparation guide shows what the work involves.

What do investor presentations cost?

Investor presentations are usually part of a program or a project fee, and no source reviewed publishes a per-deck price. One Clutch review shows Gateway Group providing investor relations and marketing presentation decks with creative design and narrative strategy for an IT company, with the project cost undisclosed.

A separate Clutch entry lists a Gateway Group investor relations engagement for an AI and IoT company in the $50,000 to $199,999 project band. That band covers a full engagement and is not a deck price.

What does analyst relations cost?

Analyst relations for a public company is priced inside the retainer, and no source reviewed publishes a separate fee. In the disclosed contracts the work appears as sell-side support, meaning help arranging meetings and briefings with the equity research analysts who cover the stock.

Technology companies sometimes use the same term for briefing industry analysts, a different job with a different budget. Define which analysts a quote covers before comparing prices.

What does financial media relations cost?

Financial media relations is typically bought as part of a general PR retainer, and DesignRush puts agency retainers at $5,000 to $15,000 per month. Virgo states that it does not require long-form contracts. Virgo's financial public relations practice covers this work, and the guide to investor relations versus financial PR explains how the two are priced and bought.

These are general PR figures, not financial-PR specific, and no source reviewed separates the financial media portion of a fee.

How do investor relations agencies price their work?

Investor relations agencies price through five models, and the disclosed contracts show each one.

• Monthly retainers, the most common structure in the table above.

• Quarterly fees, as in the Alliance Advisors IR contract.

• Campaign fees, such as the US$286,250 Bitzero announced in October 2026 for a three-week investor awareness campaign run by Think Ink.

• Month-to-month terms with 30 days' notice, as in the Tower Resources agreement.

• Cash plus stock options, as in the Bitzero and Adelaide Capital Markets agreement, which adds a disclosure item for the company.

Campaign fees like Bitzero's pay for investor awareness and digital marketing, which is a different service from a traditional investor relations program. For a side-by-side view of firms, see Virgo's list of the best investor relations PR firms.

Frequently asked questions

What does IR cost for a small public company?

Small public companies disclosed investor relations fees of about US$3,500 to CAD $15,000 per month in 2025 and 2026. Scope matters, because the lower fees cover outreach and the higher ones add digital content and capital markets advice.

How long are investor relations contracts?

Disclosed contracts range from month to month with 30 days' notice to initial terms of a year or more. Tower Resources' agreement is month to month, and Bitzero's Adelaide Capital Markets agreement renewed for twelve months.

Are investor relations fees ever paid in stock options?

Yes. Bitzero granted Adelaide Capital Markets 60,000 options alongside a cash fee, and Endurance Gold grants options to Freeform Communications. Companies should read these terms carefully because options dilute shareholders.

When should a company hire an IR firm before an IPO?

A company should start well before filing. ICR describes beginning its IPO advisory work 12 to 24 months before banker and underwriter selection, which sets the budget horizon.

Is the cost of investor relations the same as financial PR?

Not exactly. Investor relations speaks directly to shareholders and analysts, while financial PR works through the business press, and many firms bundle both in one fee. Ask each firm to price them separately.