GOLD RESV LTD BERMUDA (GDRZF) Financials

GDRZF

FY2023 annual

Revenue Not reported for FY2023

Net Income -$23.1M -168.9% YoY

EPS (Diluted) Not reported for FY2023

Operating Cash Flow -$7.4M -16.8% YoY

Market Cap $747.7M as of Oct 15, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2023

Price / Book 10.6x on $70.3M equity, Q3 FY2024

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2024, ended Sep 30, 2024 Reported Nov 27, 2024 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2024, filed Nov 27, 2024. Each column of the statement tables below links to the filing it was taken from.

This page shows GOLD RESV LTD BERMUDA (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

Financial health score not available

GOLD RESV LTD BERMUDA does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

GOLD RESV LTD BERMUDA passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

GOLD RESV LTD BERMUDA reported a net loss of $23.1M while operations used $7.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Net Income

-$3.1M

YoY+83.0%

QoQ+24.4%

GOLD RESV LTD BERMUDA reported -$3.1M in net income in Q3 2024. This represents an increase of 83.0% from the same quarter a year earlier. Against the prior quarter it is up 24.4%.

Revenue

Not reported for Q3 2024.

EBITDA

Not reported for Q3 2024.

EPS (Diluted)

Not reported for Q3 2024.

Cash & Balance Sheet

Cash & Debt

$54.6M

YoY+1538.6%

QoQ+49.6%

5Y CAGR-3.4%

10Y CAGR+20.5%

GOLD RESV LTD BERMUDA held $54.6M in cash as of Q3 2024; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q3 2024.

Dividends Per Share

Not reported for Q3 2024.

Shares Outstanding

Not reported for Q3 2024.

Margins & Returns

Return on Equity

-4.5%

YoY+55.7pp

QoQ+6.5pp

GOLD RESV LTD BERMUDA's ROE was -4.5% in Q3 2024, measuring profit generated per dollar of shareholder equity. This is up 55.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.5 percentage points.

Gross Margin

Not reported for Q3 2024.

Operating Margin

Not reported for Q3 2024.

Net Margin

Not reported for Q3 2024.

Capital Allocation

None of these metrics is reported for Q3 2024.

GDRZF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GDRZF quarterly income statement

Metric	TTM	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$6K+99.3%	-$894K	N/A	N/A
SG&A Expenses	N/A	$4.9M-5.6%	$5.1M-14.4%	$6.0M+16.9%	$5.1M-3.0%	$5.3M+171.0%	-$7.5M-144.7%	$16.7M+306.6%	$4.1M+30.8%	$3.1M+7.5%	$2.9M-6.1%	$3.1M-54.1%	$6.8M+11.6%	$6.1M+59.3%	$3.8M-16.3%	$4.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$6.1M-42.0%	$10.5M+9.3%	$9.6M+34.0%	$7.2M+32.5%	$5.4M+1.8%	$5.3M-20.6%	$6.7M+1.0%	$6.6M+417.5%	$1.3M
Income Tax	N/A	-$17.8M	N/A	N/A	-$1.1M+74.9%	-$4.3M-143.6%	$10.0M-71.6%	$35.1M	$0	N/A	N/A	N/A	$2.5M-59.9%	$6.3M+3.3%	$6.1M+22133.7%	-$27K
Net Income	N/A	-$23.1M-168.9%	-$8.6M+18.9%	-$10.6M+8.0%	-$11.5M+12.4%	-$13.1M-131.4%	$41.9M-53.2%	$89.5M+515.4%	-$21.5M-18.8%	-$18.1M+29.1%	-$25.6M-14379.2%	-$177K-101.8%	$9.6M+308.5%	$2.4M+110.9%	-$21.6M+78.4%	-$100.0M
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	99M0.0%	99M-0.1%	99M+5.7%	94M+11.5%	84M+11.0%	76M+0.1%	76M+2.4%	74M+21.0%	61M+3.2%	59M+3.0%	58M+0.8%	57M

Metric	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-Q	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K
SG&A Expenses	$1.3M+37.5%	$2.2M+127.2%	$1.1M+0.7%	N/A	$927K-12.6%	$979K-44.3%	$1.1M+16.7%	N/A
Income Tax	-$254K+98.6%	-$199K	-$195K	N/A	-$17.6M	N/A	N/A	N/A
Net Income	-$3.1M+83.0%	-$4.2M-196.2%	-$1.4M-27.5%	N/A	-$18.5M-983.2%	-$1.4M+37.4%	-$1.1M+29.2%	N/A

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

GDRZF Balance Sheet

GDRZF quarterly balance sheet

Metric	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Total Assets	$39.7M-24.9%	$52.9M-12.7%	$60.6M-12.7%	$69.4M-13.5%	$80.3M-52.4%	$168.7M+11.9%	$150.7M+210.8%	$48.5M+116.7%	$22.4M+15.3%	$19.4M-14.7%	$22.8M-20.0%	$28.4M-63.7%	$78.3M-20.4%	$98.4M	N/A
Current Assets	$39.4M-23.6%	$51.5M-11.8%	$58.4M-12.5%	$66.8M-9.2%	$73.5M-52.9%	$156.0M+13.0%	$138.1M+278.9%	$36.4M+260.0%	$10.1M+45.3%	$7.0M+101.8%	$3.5M-62.7%	$9.2M-84.4%	$59.2M-15.3%	$69.9M	N/A
Cash & Equivalents	$8.5M-44.5%	$15.4M-68.7%	$49.1M-14.5%	$57.4M-7.1%	$61.8M-58.1%	$147.6M+7.2%	$137.7M+285.1%	$35.7M+282.3%	$9.4M+45.2%	$6.4M+116.4%	$3.0M-64.4%	$8.3M-85.5%	$57.7M-0.9%	$58.2M-4.6%	$61.0M
Short-Term Investments	$8.1M-43.4%	$14.3M-69.8%	$47.3M-1.4%	$48.0M+58.2%	$30.3M-69.7%	$100.1M+950.7%	$9.5M+1659.5%	$541K+199.0%	$181K+3.1%	$176K-44.9%	$318K-56.0%	$723K-18.9%	$892K-60.6%	$2.3M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$11.2M+726.2%	$1.4M+121.3%	$611K-39.6%	$1.0M+2.7%	$984K+38.1%	$713K-97.1%	$24.9M-45.4%	$45.7M+8.1%	$42.2M+4.6%	$40.4M+57.2%	$25.7M+16.7%	$22.0M-78.9%	$104.1M+171.7%	-$145.2M	N/A
Current Liabilities	$11.2M+726.2%	$1.4M+121.3%	$611K-34.6%	$934K+14.7%	$814K+14.3%	$713K-89.1%	$6.5M+840.9%	$694K-55.3%	$1.6M-96.0%	$38.3M+5540.8%	$680K-30.6%	$979K-57.6%	$2.3M+23.7%	$1.9M	N/A
Non-Current Liabilities	$0	$0	$0-100.0%	$77K-54.6%	$170K	$0-100.0%	$18.4M-59.1%	$45.0M+10.6%	$40.7M+1880.3%	$2.1M-91.8%	$25.0M+18.9%	$21.0M-79.3%	$101.8M+169.3%	-$147.0M	N/A
Total Equity	$28.6M-44.6%	$51.6M-14.1%	$60.0M-12.3%	$68.4M-13.7%	$79.3M-52.8%	$167.9M+33.5%	$125.8M+4368.8%	$2.8M+114.2%	-$19.9M+5.3%	-$21.0M-615.0%	-$2.9M-145.7%	$6.4M+124.9%	-$25.8M-110.6%	$243.6M+0.6%	$242.2M
Retained Earnings	-$318.4M-7.8%	-$295.3M-3.0%	-$286.7M-3.8%	-$276.1M-4.4%	-$264.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$268.6M	N/A

Metric	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-Q	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K
Total Assets	$83.4M+101.3%	$51.0M+1.8%	$38.8M-24.2%	$39.7M-24.9%	$41.4M-25.9%	$50.2M-12.8%	$51.2M-13.6%	$52.9M-12.7%
Current Assets	$83.0M+102.3%	$50.7M+1.9%	$38.4M-22.9%	$39.4M-23.6%	$41.0M-23.8%	$49.7M-10.2%	$49.8M-12.7%	$51.5M-11.8%
Cash & Equivalents	$54.6M+1538.6%	$36.5M+2671.6%	$8.7M-18.0%	$8.5M-44.5%	$3.3M-92.6%	$1.3M-97.1%	$10.7M-77.8%	$15.4M-68.7%
Short-Term Investments	$54.1M+2049.6%	$35.8M+5047.9%	$8.3M-17.0%	$8.1M-43.4%	$2.5M-94.2%	$696K-98.4%	$10.0M-78.6%	$14.3M-69.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$13.0M+21.1%	$13.1M+1137.5%	$11.3M+1547.2%	$11.2M+726.2%	$10.8M+689.4%	$1.1M-14.4%	$684K-6.9%	$1.4M+121.3%
Current Liabilities	$13.0M+21.1%	$13.1M+1137.5%	$11.3M+1547.2%	$11.2M+726.2%	$10.8M+689.4%	$1.1M-14.4%	$684K-6.9%	$1.4M+121.3%
Non-Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0
Total Equity	$70.3M+129.5%	$37.9M-22.7%	$27.5M-45.6%	$28.6M-44.6%	$30.6M-43.8%	$49.1M-12.7%	$50.5M-13.7%	$51.6M-14.1%
Retained Earnings	-$327.1M-3.4%	-$323.9M-8.8%	-$319.8M-7.9%	-$318.4M-7.8%	-$316.2M-8.2%	-$297.8M-2.5%	-$296.4M-2.8%	-$295.3M-3.0%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

GDRZF Cash Flow Statement

GDRZF quarterly cash flow statement

Metric	TTM	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Operating Cash Flow	-$10.7M	-$7.4M-16.8%	-$6.4M+26.1%	-$8.6M-88.9%	-$4.6M+55.6%	-$10.3M+84.0%	-$64.2M-36.7%	-$47.0M-331.5%	-$10.9M-22.3%	-$8.9M-23.1%	-$7.2M+33.9%	-$11.0M+16.9%	-$13.2M+26.4%	-$17.9M+12.4%	-$20.4M-35.3%	-$15.1M
Depreciation & Amortization	N/A	$63K-39.5%	$104K-2.1%	$106K-14.4%	$124K-5.6%	$132K+174.5%	$48K+638.6%	$6K+17.1%	$6K-27.3%	$8K-26.2%	$10K-34.6%	$16K-30.8%	$23K-66.6%	$68K-48.6%	$133K-38.0%	$214K
Capital Expenditures	N/A	N/A	N/A	$2K-94.9%	$47K+367.1%	$10K	N/A	N/A	N/A	N/A	N/A	$128K-19.4%	$159K+215.3%	$50K-99.5%	-$9.5M-46.6%	$17.8M
Free Cash Flow	N/A	N/A	N/A	-$8.6M-87.0%	-$4.6M+55.2%	-$10.3M	N/A	N/A	N/A	N/A	N/A	-$11.1M+16.9%	-$13.3M+25.7%	-$17.9M+40.0%	-$29.9M+8.9%	-$32.9M
Investing Cash Flow	$12.1M	$576K+102.1%	-$27.4M-8845.6%	$313K+105.9%	$152K+1618.7%	-$10K-100.0%	$74.2M-60.3%	$186.9M+62083.5%	-$302K-282.8%	$165K+304.8%	-$81K+32.8%	-$120K-190.5%	$132K-99.2%	$17.4M-1.3%	$17.6M+216.7%	-$15.1M
Financing Cash Flow	$49.8M	$1K	N/A	N/A	N/A	-$75.5M	$0+100.0%	-$38.0M-201.1%	$37.6M+222.6%	$11.7M+8.1%	$10.8M+89.1%	$5.7M+115.7%	-$36.3M-240515.3%	$15K-65.4%	$44K+110.7%	-$408K

Metric	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-Q	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K
Operating Cash Flow	-$3.1M-160.7%	-$3.1M-40.6%	-$2.3M-24.5%	-$2.2M-3.7%	-$1.2M-8.4%	-$2.2M-7.4%	-$1.8M-67.7%	-$2.1M+21.3%
Depreciation & Amortization	$4K-77.1%	$4K-75.5%	$4K-76.0%	$16K-38.3%	$16K-39.2%	$16K-40.9%	$16K-39.6%	$25K-5.5%
Investing Cash Flow	-$14.2M-541.3%	$16.6M+330.9%	$2.3M+180.4%	$7.4M	$3.2M	-$7.2M	-$2.9M	N/A
Financing Cash Flow	$35.4M+3274627.7%	$14.3M	$192K	$0	$1K	N/A	N/A	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

GDRZF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GDRZF quarterly financial ratios

Metric	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Return on Equity	-80.9%-64.3pp	-16.7%+1.0pp	-17.6%-0.8pp	-16.8%-0.3pp	-16.6%-41.5pp	24.9%-46.3pp	71.2%+836.7pp	-765.6%	N/A	N/A	N/A	150.1%	N/A	-8.9%+32.4pp	-41.3%
Return on Assets	-58.2%-41.9pp	-16.2%+1.2pp	-17.5%-0.9pp	-16.6%-0.2pp	-16.4%-41.2pp	24.8%-34.6pp	59.4%+103.8pp	-44.4%+36.6pp	-81.0%+50.7pp	-131.7%-131.0pp	-0.8%-34.7pp	33.9%+30.9pp	3.0%+25.0pp	-22.0%	N/A
Current Ratio	3.52-34.6x	38.13-57.5x	95.67+24.2x	71.47-18.8x	90.32-128.6x	218.93+197.8x	21.15-31.4x	52.53+46.0x	6.52+6.3x	0.18-4.9x	5.08-4.4x	9.44-16.2x	25.63-11.8x	37.44	N/A
Debt-to-Equity	0.39+0.4x	0.030.0x	0.010.0x	0.010.0x	0.010.0x	0.00-0.2x	0.20-16.0x	16.23	N/A	N/A	N/A	3.43	N/A	N/A	N/A

Metric	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-Q	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K
Return on Equity	-4.5%+55.7pp	-11.0%-8.1pp	-5.1%-2.9pp	N/A	-60.2%-57.1pp	-2.9%+1.1pp	-2.2%+0.5pp	N/A
Return on Assets	-3.8%+40.8pp	-8.2%-5.4pp	-3.6%-1.5pp	N/A	-44.5%-41.5pp	-2.8%+1.1pp	-2.1%+0.5pp	N/A
Current Ratio	6.36+2.6x	3.86-43.1x	3.40-69.3x	3.52-34.6x	3.81-35.7x	46.94+2.2x	72.73-4.8x	38.13-57.5x
Debt-to-Equity	0.19-0.2x	0.35+0.3x	0.41+0.4x	0.39+0.4x	0.35+0.3x	0.020.0x	0.010.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Where GOLD RESV LTD BERMUDA Ranks

Frequently Asked Questions

Is GOLD RESV LTD BERMUDA profitable?

No, GOLD RESV LTD BERMUDA (GDRZF) reported a net income of -$23.1M in fiscal year 2023.

What is GOLD RESV LTD BERMUDA's return on equity (ROE)?

GOLD RESV LTD BERMUDA (GDRZF) has a return on equity of -80.9% for fiscal year 2023, measuring how efficiently the company generates profit from shareholder equity.

What is GOLD RESV LTD BERMUDA's operating cash flow?

GOLD RESV LTD BERMUDA (GDRZF) recorded an outflow of $7.4M in operating cash flow during fiscal year 2023, representing cash used by core business activities.

What are GOLD RESV LTD BERMUDA's total assets?

GOLD RESV LTD BERMUDA (GDRZF) had $39.7M in total assets as of fiscal year 2023, including both current and long-term assets.

How many shares does GOLD RESV LTD BERMUDA have outstanding?

GOLD RESV LTD BERMUDA (GDRZF) had 100M shares outstanding as of fiscal year 2023.

What is GOLD RESV LTD BERMUDA's current ratio?

GOLD RESV LTD BERMUDA (GDRZF) had a current ratio of 3.52 as of fiscal year 2023, which is generally considered healthy.

What is GOLD RESV LTD BERMUDA's debt-to-equity ratio?

GOLD RESV LTD BERMUDA (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 RESV LTD BERMUDA's return on assets (ROA)?

GOLD RESV LTD BERMUDA (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 RESV LTD BERMUDA's P/E ratio?

GOLD RESV LTD BERMUDA (GDRZF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2023). The market capitalization is $747.7M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is GOLD RESV LTD BERMUDA's price-to-sales ratio?

GOLD RESV LTD BERMUDA (GDRZF) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $747.7M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does GOLD RESV LTD BERMUDA's liquidity compare with its operating cash outflow?

At the end of fiscal year 2023, GOLD RESV LTD BERMUDA (GDRZF) held $16.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.4M over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is GOLD RESV LTD BERMUDA's Piotroski F-Score?

GOLD RESV LTD BERMUDA (GDRZF) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are GOLD RESV LTD BERMUDA's earnings high quality?

GOLD RESV LTD BERMUDA (GDRZF) reported a net loss of $23.1M while operations used $7.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.