Gold Resource Financials
This page shows Gold Resource (GORO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 27 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).
FY2025 marked an operating reset: margins recovered and cash returned, but the business still needs heavy reinvestment and new financing.
From FY2024 to FY2025, gross margin swung from-31.2% to26.8% , showing the core operation moved from selling below direct cost to generating room above it. But free cash flow was only$644K despite operating cash flow of$21.7M , which means most of the recovery had to be recycled back into the asset base rather than becoming surplus cash.
Liquidity improved sharply, with cash at
The gap between the net loss of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Gold Resource's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Gold Resource has an operating margin of -3.1%, meaning the company retains $-3 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -71.9% the prior year.
Gold Resource's revenue surged 51.8% year-over-year to $99.8M, reflecting rapid business expansion. This strong growth earns a score of 35/100.
Gold Resource has a moderate D/E ratio of 3.18. This balance of debt and equity financing earns a leverage score of 37/100.
Gold Resource's current ratio of 2.85 indicates adequate short-term liquidity, earning a score of 54/100. The company can meet its near-term obligations, though with limited headroom.
While Gold Resource generated $21.7M in operating cash flow, capex of $21.1M consumed most of it, leaving $644K in free cash flow. This results in a low score of 7/100, reflecting heavy capital investment rather than weak cash generation.
Gold Resource generates a -14.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -207.1% the prior year.
Gold Resource passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Gold Resource generates $-3.36 in operating cash flow ($21.7M OCF vs -$6.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Gold Resource earns $-16.9 in operating income for every $1 of interest expense (-$3.0M vs $181K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Gold Resource generated $99.8M in revenue in fiscal year 2025. This represents an increase of 51.8% from the prior year.
Gold Resource's EBITDA was $9.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 133.4% from the prior year.
Gold Resource reported -$6.5M in net income in fiscal year 2025. This represents an increase of 88.6% from the prior year.
Gold Resource earned $-0.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 91.8% from the prior year.
Cash & Balance Sheet
Gold Resource generated $644K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 107.8% from the prior year.
Gold Resource held $25.0M in cash against $0 in long-term debt as of fiscal year 2025.
Gold Resource had 162M shares outstanding in fiscal year 2025. This represents an increase of 69.7% from the prior year.
Margins & Returns
Gold Resource's gross margin was 26.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 58.0 percentage points from the prior year.
Gold Resource's operating margin was -3.1% in fiscal year 2025, reflecting core business profitability. This is up 68.8 percentage points from the prior year.
Gold Resource's net profit margin was -6.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 79.5 percentage points from the prior year.
Gold Resource's ROE was -14.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 192.4 percentage points from the prior year.
Capital Allocation
Gold Resource invested $21.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 176.3% from the prior year.
GORO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $43.9M-14.3% | $51.3M+106.2% | $24.9M+121.6% | $11.2M-9.1% | $12.4M-4.7% | $13.0M-2.3% | $13.3M-36.1% | $20.8M |
| Cost of Revenue | $24.9M+0.1% | $24.9M+33.3% | $18.7M+19.2% | $15.6M+13.3% | $13.8M-27.5% | $19.0M-13.3% | $21.9M-10.0% | $24.4M |
| Gross Profit | $19.0M-27.9% | $26.4M+324.9% | $6.2M+240.7% | -$4.4M-204.4% | -$1.5M+76.0% | -$6.1M+30.1% | -$8.7M-141.4% | -$3.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.6M+26.0% | $1.3M+5.0% | $1.2M+87.1% | $644K-43.7% | $1.1M-12.5% | $1.3M+1.2% | $1.3M+77.9% | $727K |
| Operating Income | $9.5M-52.6% | $20.0M+637.3% | -$3.7M+67.7% | -$11.5M-47.6% | -$7.8M+38.0% | -$12.6M+22.8% | -$16.3M-50.5% | -$10.8M |
| Interest Expense | N/A | N/A | $170K | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $4.7M+141.1% | $2.0M+107.7% | $941K+7338.5% | -$13K-102.5% | $527K+137.0% | -$1.4M+60.5% | -$3.6M-122.3% | $16.2M |
| Net Income | $4.7M-73.7% | $18.0M+486.7% | -$4.7M+59.5% | -$11.5M-38.1% | -$8.3M+25.3% | -$11.1M+12.1% | -$12.7M+53.1% | -$27.0M |
| EPS (Diluted) | $0.03 | N/A | $-0.03+66.7% | $-0.09-28.6% | $-0.07 | N/A | $-0.14+53.3% | $-0.30 |
GORO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $196.4M+6.7% | $184.1M+12.0% | $164.3M+5.9% | $155.1M+5.1% | $147.7M+1.2% | $145.9M-5.6% | $154.5M-4.3% | $161.5M |
| Current Assets | $57.5M+16.7% | $49.3M+57.8% | $31.2M+18.8% | $26.3M+30.1% | $20.2M+21.8% | $16.6M-20.8% | $20.9M-17.3% | $25.3M |
| Cash & Equivalents | $31.0M+24.0% | $25.0M+155.3% | $9.8M-22.7% | $12.7M+159.1% | $4.9M+200.4% | $1.6M+20.4% | $1.4M-74.7% | $5.3M |
| Inventory | $8.7M+6.1% | $8.2M+14.4% | $7.2M+6.8% | $6.7M+5.5% | $6.4M-8.0% | $6.9M-11.3% | $7.8M-12.9% | $9.0M |
| Accounts Receivable | $15.1M+13.6% | $13.3M+2.4% | $12.9M+256.9% | $3.6M+12.1% | $3.2M+48.1% | $2.2M-59.7% | $5.4M+18.3% | $4.6M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $147.6M+5.4% | $140.0M+1.2% | $138.4M+1.8% | $136.0M+10.5% | $123.1M+3.8% | $118.6M+1.7% | $116.6M+4.4% | $111.7M |
| Current Liabilities | $17.2M-0.1% | $17.3M-6.2% | $18.4M+15.6% | $15.9M+13.3% | $14.0M-3.0% | $14.5M-4.8% | $15.2M+38.8% | $11.0M |
| Long-Term Debt | N/A | N/A | N/A | $5.7M | N/A | N/A | N/A | N/A |
| Total Equity | $48.8M+10.9% | $44.0M+69.6% | $26.0M+35.5% | $19.2M-22.1% | $24.6M-9.9% | $27.3M-28.1% | $37.9M-23.9% | $49.8M |
| Retained Earnings | -$82.8M+5.4% | -$87.5M+17.1% | -$105.5M-4.6% | -$100.9M-12.8% | -$89.4M-10.3% | -$81.1M-15.9% | -$69.9M-22.1% | -$57.3M |
GORO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.8M-38.5% | $24.2M+7535.1% | -$325K+75.1% | -$1.3M-57.9% | -$828K-162.4% | $1.3M+139.3% | -$3.4M-5252.4% | -$63K |
| Capital Expenditures | $8.8M-1.2% | $8.9M+18.8% | $7.5M+194.3% | $2.5M+16.3% | $2.2M+72.1% | $1.3M-45.9% | $2.3M+16.4% | $2.0M |
| Free Cash Flow | $6.1M-60.2% | $15.3M+296.2% | -$7.8M-102.7% | -$3.8M-27.7% | -$3.0M-5289.7% | $58K+101.0% | -$5.7M-175.3% | -$2.1M |
| Investing Cash Flow | -$8.8M+1.2% | -$8.9M-18.8% | -$7.5M-194.3% | -$2.5M-91.0% | -$1.3M-4.7% | -$1.3M-8.7% | -$1.2M+42.1% | -$2.0M |
| Financing Cash Flow | -$56K | $0-100.0% | $5.0M-57.1% | $11.6M+112.3% | $5.5M+1690.8% | $306K-48.9% | $599K-67.2% | $1.8M |
| 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 |
GORO Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.3%-8.2pp | 51.5%+26.5pp | 25.0%+64.4pp | -39.4%-27.6pp | -11.8%+35.0pp | -46.7%+18.6pp | -65.3%-48.0pp | -17.3% |
| Operating Margin | 21.5%-17.4pp | 38.9%+53.8pp | -14.9%+87.5pp | -102.4%-39.3pp | -63.1%+33.8pp | -96.9%+25.8pp | -122.7%-70.6pp | -52.1% |
| Net Margin | 10.8%-24.3pp | 35.1%+53.8pp | -18.7%+83.6pp | -102.3%-35.0pp | -67.3%+18.6pp | -85.9%+9.6pp | -95.5%+34.4pp | -129.9% |
| Return on Equity | 9.7%-31.2pp | 40.9%+58.8pp | -17.9%+42.0pp | -60.0%-26.1pp | -33.8%+7.0pp | -40.8%-7.4pp | -33.4%+20.8pp | -54.2% |
| Return on Assets | 2.4%-7.4pp | 9.8%+12.6pp | -2.8%+4.6pp | -7.4%-1.8pp | -5.6%+2.0pp | -7.6%+0.6pp | -8.2%+8.5pp | -16.7% |
| Current Ratio | 3.33+0.5 | 2.85+1.2 | 1.70+0.0 | 1.65+0.2 | 1.44+0.3 | 1.14-0.2 | 1.38-0.9 | 2.31 |
| Debt-to-Equity | 3.02-0.2 | 3.18-2.1 | 5.33+5.0 | 0.30-4.7 | 5.01+0.7 | 4.35+1.3 | 3.07+0.8 | 2.24 |
| FCF Margin | 13.9%-16.0pp | 29.8%+61.1pp | -31.3%+2.9pp | -34.2%-9.9pp | -24.4%-24.8pp | 0.4%+43.5pp | -43.1%-33.1pp | -10.0% |
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Frequently Asked Questions
What is Gold Resource's annual revenue?
Gold Resource (GORO) reported $99.8M in total revenue for fiscal year 2025. This represents a 51.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Gold Resource's revenue growing?
Gold Resource (GORO) revenue grew by 51.8% year-over-year, from $65.7M to $99.8M in fiscal year 2025.
Is Gold Resource profitable?
No, Gold Resource (GORO) reported a net income of -$6.5M in fiscal year 2025, with a net profit margin of -6.5%.
What is Gold Resource's EBITDA?
Gold Resource (GORO) had EBITDA of $9.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Gold Resource's gross margin?
Gold Resource (GORO) had a gross margin of 26.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Gold Resource's operating margin?
Gold Resource (GORO) had an operating margin of -3.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Gold Resource's net profit margin?
Gold Resource (GORO) had a net profit margin of -6.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Gold Resource's return on equity (ROE)?
Gold Resource (GORO) has a return on equity of -14.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Gold Resource's free cash flow?
Gold Resource (GORO) generated $644K in free cash flow during fiscal year 2025. This represents a 107.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Gold Resource's operating cash flow?
Gold Resource (GORO) generated $21.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Gold Resource's total assets?
Gold Resource (GORO) had $184.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Gold Resource's capital expenditures?
Gold Resource (GORO) invested $21.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Gold Resource's current ratio?
Gold Resource (GORO) had a current ratio of 2.85 as of fiscal year 2025, which is generally considered healthy.
What is Gold Resource's debt-to-equity ratio?
Gold Resource (GORO) had a debt-to-equity ratio of 3.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gold Resource's return on assets (ROA)?
Gold Resource (GORO) had a return on assets of -3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Gold Resource's Piotroski F-Score?
Gold Resource (GORO) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Gold Resource's earnings high quality?
Gold Resource (GORO) has an earnings quality ratio of -3.36x, considered mixed quality. 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.
Can Gold Resource cover its interest payments?
Gold Resource (GORO) has an interest coverage ratio of -16.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Gold Resource?
Gold Resource (GORO) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.