Gold Reserve Financials
This page shows Gold Reserve (GDRZF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Gold Reserve passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Gold Reserve generates $0.32 in operating cash flow (-$7.4M OCF vs -$23.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Gold Reserve reported -$23.1M in net income in fiscal year 2023. This represents a decrease of 168.9% from the prior year.
Gold Reserve held $8.5M in cash against $0 in long-term debt as of fiscal year 2023.
Gold Reserve had 100M shares outstanding in fiscal year 2023. This represents an increase of 0.0% from the prior year.
GDRZF Income Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.3M-42.7% | $2.2M+109.7% | $1.1M+14.5% | $927K-5.4% | $979K-7.0% | $1.1M | N/A | $1.1M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$254K-27.8% | -$199K-2.0% | -$195K+98.9% | -$17.6M | N/A | N/A | N/A | N/A |
| Net Income | -$3.1M+24.4% | -$4.2M-198.1% | -$1.4M+92.4% | -$18.5M-1214.4% | -$1.4M-28.3% | -$1.1M | N/A | -$1.7M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GDRZF Balance Sheet
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $83.4M+63.3% | $51.0M+31.7% | $38.8M-2.4% | $39.7M-20.8% | $50.2M-2.0% | $51.2M-3.3% | $52.9M-5.3% | $55.9M |
| Current Assets | $83.0M+63.8% | $50.7M+32.0% | $38.4M-2.5% | $39.4M-20.9% | $49.7M-0.1% | $49.8M-3.4% | $51.5M-4.3% | $53.8M |
| Cash & Equivalents | $54.6M+49.6% | $36.5M+317.4% | $8.7M+2.6% | $8.5M+547.4% | $1.3M-87.6% | $10.7M-30.7% | $15.4M-65.7% | $44.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $13.0M-0.5% | $13.1M+16.3% | $11.3M+1.0% | $11.2M+953.7% | $1.1M+54.8% | $684K-49.3% | $1.4M-0.9% | $1.4M |
| Current Liabilities | $13.0M-0.5% | $13.1M+16.3% | $11.3M+1.0% | $11.2M+953.7% | $1.1M+54.8% | $684K-49.3% | $1.4M-0.9% | $1.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $70.3M+85.4% | $37.9M+38.0% | $27.5M-3.8% | $28.6M-41.8% | $49.1M-2.8% | $50.5M-2.1% | $51.6M-5.4% | $54.5M |
| Retained Earnings | -$327.1M-1.0% | -$323.9M-1.3% | -$319.8M-0.4% | -$318.4M-6.9% | -$297.8M-0.5% | -$296.4M-0.4% | -$295.3M-1.1% | -$292.2M |
GDRZF Cash Flow Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.1M-2.3% | -$3.1M-33.6% | -$2.3M-3.0% | -$2.2M-2.2% | -$2.2M-18.3% | -$1.8M+14.2% | -$2.1M-93.6% | -$1.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$14.2M-185.6% | $16.6M+616.1% | $2.3M-68.8% | $7.4M+203.4% | -$7.2M-149.4% | -$2.9M | N/A | N/A |
| Financing Cash Flow | $35.4M+148.4% | $14.3M+7322.7% | $192K | $0 | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GDRZF Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -3.8%+4.4pp | -8.2%-4.6pp | -3.6%+41.0pp | -44.5%-41.8pp | -2.8%-0.7pp | -2.1% | N/A | -3.0% |
| Current Ratio | 6.36+2.5 | 3.86+0.5 | 3.40-0.1 | 3.52-43.4 | 46.94-25.8 | 72.73+34.6 | 38.13-1.3 | 39.46 |
| Debt-to-Equity | 0.19-0.2 | 0.35-0.1 | 0.41+0.0 | 0.39+0.4 | 0.020.0 | 0.01-0.0 | 0.030.0 | 0.03 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Similar Companies
Frequently Asked Questions
Is Gold Reserve profitable?
No, Gold Reserve (GDRZF) reported a net income of -$23.1M in fiscal year 2023.
What is Gold Reserve's operating cash flow?
Gold Reserve (GDRZF) generated -$7.4M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Gold Reserve's total assets?
Gold Reserve (GDRZF) had $39.7M in total assets as of fiscal year 2023, including both current and long-term assets.
How many shares does Gold Reserve have outstanding?
Gold Reserve (GDRZF) had 100M shares outstanding as of fiscal year 2023.
What is Gold Reserve's current ratio?
Gold Reserve (GDRZF) had a current ratio of 3.52 as of fiscal year 2023, which is generally considered healthy.
What is Gold Reserve's debt-to-equity ratio?
Gold Reserve (GDRZF) had a debt-to-equity ratio of 0.39 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gold Reserve's return on assets (ROA)?
Gold Reserve (GDRZF) had a return on assets of -58.2% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Gold Reserve's cash runway?
Based on fiscal year 2023 data, Gold Reserve (GDRZF) had $8.5M in cash against an annual operating cash burn of $7.4M. This gives an estimated cash runway of approximately 14 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Gold Reserve's Piotroski F-Score?
Gold Reserve (GDRZF) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Gold Reserve's earnings high quality?
Gold Reserve (GDRZF) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.