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 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.
Gold Reserve 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).
Gold Reserve 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
Earnings & Revenue
Gold Reserve reported -$23.1M in net income in fiscal year 2023. This represents a decrease of 168.9% from the prior year.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Cash & Balance Sheet
Gold Reserve held $8.5M in cash as of fiscal year 2023; long-term debt is not reported for that period.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Margins & Returns
Gold Reserve's ROE was -80.9% in fiscal year 2023, measuring profit generated per dollar of shareholder equity. This is down 64.3 percentage points from the prior year.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Capital Allocation
None of these metrics is reported for fiscal year 2023.
GDRZF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $1.3M-42.7% | $2.2M+109.7% | $1.1M | N/A | $927K-5.4% | $979K-7.0% | $1.1M | N/A |
| Income Tax | -$254K-27.8% | -$199K-2.0% | -$195K | N/A | -$17.6M | N/A | N/A | N/A |
| Net Income | -$3.1M+24.4% | -$4.2M-198.1% | -$1.4M | N/A | -$18.5M-1214.4% | -$1.4M-28.3% | -$1.1M | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Interest Expense, EPS (Diluted).
GDRZF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $83.4M+63.3% | $51.0M+31.7% | $38.8M-2.4% | $39.7M-4.0% | $41.4M-17.4% | $50.2M-2.0% | $51.2M-3.3% | $52.9M |
| Current Assets | $83.0M+63.8% | $50.7M+32.0% | $38.4M-2.5% | $39.4M-4.0% | $41.0M-17.5% | $49.7M-0.1% | $49.8M-3.4% | $51.5M |
| Cash & Equivalents | $54.6M+49.6% | $36.5M+317.4% | $8.7M+2.6% | $8.5M+155.9% | $3.3M+153.0% | $1.3M-87.6% | $10.7M-30.7% | $15.4M |
| Total Liabilities | $13.0M-0.5% | $13.1M+16.3% | $11.3M+1.0% | $11.2M+3.7% | $10.8M+916.4% | $1.1M+54.8% | $684K-49.3% | $1.4M |
| Current Liabilities | $13.0M-0.5% | $13.1M+16.3% | $11.3M+1.0% | $11.2M+3.7% | $10.8M+916.4% | $1.1M+54.8% | $684K-49.3% | $1.4M |
| Total Equity | $70.3M+85.4% | $37.9M+38.0% | $27.5M-3.8% | $28.6M-6.8% | $30.6M-37.6% | $49.1M-2.8% | $50.5M-2.1% | $51.6M |
| Retained Earnings | -$327.1M-1.0% | -$323.9M-1.3% | -$319.8M-0.4% | -$318.4M-0.7% | -$316.2M-6.2% | -$297.8M-0.5% | -$296.4M-0.4% | -$295.3M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
GDRZF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.1M-2.3% | -$3.1M-33.6% | -$2.3M-3.0% | -$2.2M-85.2% | -$1.2M+44.8% | -$2.2M-18.3% | -$1.8M+14.2% | -$2.1M |
| Investing Cash Flow | -$14.2M-185.6% | $16.6M+616.1% | $2.3M-68.8% | $7.4M+130.8% | $3.2M+144.8% | -$7.2M-149.4% | -$2.9M | N/A |
| Financing Cash Flow | $35.4M+148.4% | $14.3M+7322.7% | $192K | $0-100.0% | $1K | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
GDRZF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -4.5%+6.5pp | -11.0%-5.9pp | -5.1% | N/A | -60.2%-57.4pp | -2.9%-0.7pp | -2.2% | N/A |
| Return on Assets | -3.8%+4.4pp | -8.2%-4.6pp | -3.6% | N/A | -44.5%-41.8pp | -2.8%-0.7pp | -2.1% | N/A |
| Current Ratio | 6.36+2.5x | 3.86+0.5x | 3.40-0.1x | 3.52-0.3x | 3.81-43.1x | 46.94-25.8x | 72.73+34.6x | 38.13 |
| Debt-to-Equity | 0.19-0.2x | 0.35-0.1x | 0.410.0x | 0.390.0x | 0.35+0.3x | 0.020.0x | 0.010.0x | 0.03 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Gold Reserve Ranks
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 return on equity (ROE)?
Gold Reserve (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 Reserve's operating cash flow?
Gold Reserve (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 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.
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.
How does Gold Reserve's liquidity compare with its operating cash outflow?
At the end of fiscal year 2023, Gold Reserve (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 Reserve's Piotroski F-Score?
Gold Reserve (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 Reserve's earnings high quality?
Gold Reserve (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.