Ivanhoe Electric (IVNHW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IVNHW SEC filings page.
Ivanhoe Electric Inc (IVNHW) reported $3.2M in revenue for fiscal year 2025, up 11.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
The business has a large, lightly leveraged balance sheet, but operations still consume cash because revenue is tiny beside overhead.
In FY2025, operating cash flow was-$89.2M against a net loss of$105.9M , so reported losses were accompanied by comparable cash use rather than mostly non-cash charges. Free cash flow was-$90.4M while capital expenditures were only$1.2M ; the cash gap is therefore operating, not a reinvestment spike.
The operating model remains overhead-heavy: FY2025 gross profit was
The balance sheet is funded more by equity than liabilities: FY2025 liabilities were
Financial Health Signals
We do not publish a peer-relative financial health score for Ivanhoe Electric Inc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Ivanhoe Electric Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
Ivanhoe Electric Inc reported a net loss of $105.9M while operations used $89.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ivanhoe Electric Inc reported an operating loss of $113.6M against $2.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ivanhoe Electric Inc generated $858K in revenue in Q1 2026. This represents an increase of 16.7% from the same quarter a year earlier. Against the prior quarter it is down 4.2%.
Ivanhoe Electric Inc's EBITDA was $97.3M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Ivanhoe Electric Inc reported $41.7M in net income in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ivanhoe Electric Inc earned -$0.26 per diluted share (EPS) in Q1 2026. This represents a decrease of 208.3% from the same quarter a year earlier.
Cash & Balance Sheet
Ivanhoe Electric Inc recorded an outflow of $42.9M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ivanhoe Electric Inc held $289.8M in cash as of Q1 2026; no long-term debt figure is on record for that period.
Not reported for Q1 2026.
Margins & Returns
Ivanhoe Electric Inc's gross margin was 58.9% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.7 percentage points.
Ivanhoe Electric Inc's quarterly ROE was 7.7% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is up 17.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.9 percentage points.
Not shown for Q1 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ivanhoe Electric Inc invested $404K in research and development in Q1 2026. This represents an increase of 676.9% from the same quarter a year earlier. Against the prior quarter it is up 254.4%.
Ivanhoe Electric Inc invested $597K in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 29750.0% from the same quarter a year earlier. Against the prior quarter it is up 1513.5%.
Not reported for Q1 2026.
IVNHW 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $858K+16.7% | $896K-32.7% | $545K-18.8% | $1.1M+98.5% | $735K+104.2% | $1.3M-20.3% | $671K+180.8% | $538K-59.1% |
| Cost of Revenue | $353K+20.5% | $273K-41.9% | $266K+3.9% | $294K+53.1% | $293K+193.0% | $470K-63.0% | $256K-6.9% | $192K-84.7% |
| Gross Profit | $505K+14.3% | $623K-27.7% | $279K-32.8% | $774K+123.7% | $442K+70.0% | $862K+115.5% | $415Kn/m | $346K+496.6% |
| R&D Expenses | $404K+676.9% | $114K-65.5% | $54K-93.8% | $55K-93.5% | $52K-93.6% | $330K-63.0% | $871K-30.2% | $842K-60.6% |
| SG&A Expenses | $9.9M-14.9% | $8.8M-16.8% | $9.1M-16.0% | $9.7M-9.1% | $11.6M-8.1% | $10.6M-21.4% | $10.9M-5.1% | $10.7M-15.5% |
| Operating Income | $96.8Mn/m | -$37.3Mn/m | -$23.6Mn/m | -$25.6Mn/m | -$27.0Mn/m | -$29.7Mn/m | -$41.8Mn/m | -$48.5Mn/m |
| EBITDA | $97.3Mn/m | N/A | N/A | N/A | -$26.4Mn/m | N/A | N/A | N/A |
| Interest Expense | $1.4M-12.9% | N/A | N/A | N/A | $1.7M-8.8% | N/A | N/A | N/A |
| Income Tax | $12.2Mn/m | $12K-79.3% | $0n/m | $0n/m | $0n/m | $58Kn/m | $0n/m | $0n/m |
| Net Income | $41.7Mn/m | -$34.0M-258.1% | -$17.5Mn/m | -$23.9Mn/m | -$30.5Mn/m | $21.5Mn/m | -$43.2Mn/m | -$46.8Mn/m |
| EPS (Basic) | -$0.27-212.5% | N/A | $0.13-63.9% | $0.18-53.8% | $0.24-47.8% | N/A | $0.36-51.4% | $0.39-4.9% |
| EPS (Diluted) | -$0.26-208.3% | N/A | $0.13-63.9% | $0.18-53.8% | $0.24-47.8% | N/A | $0.36-51.4% | $0.39-4.9% |
| Diluted Shares (Avg) | 158M+25.1% | N/A | 133M+10.4% | 133M+10.2% | 127M+5.3% | N/A | 120M+14.8% | 120M+29.2% |
IVNHW Balance Sheet
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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $594.3M+43.4% | $483.3M+28.9% | $386.2M+2.9% | $400.5M-3.8% | $414.4M-10.1% | $374.9M-23.0% | $375.4M-29.6% | $416.3M+34.4% |
| Current Assets | $301.5M+163.9% | $180.2M+160.1% | $87.7M-16.3% | $104.3M-29.1% | $114.3M-40.4% | $69.3M-68.0% | $104.7M-59.8% | $147.0M+92.1% |
| Cash & Equivalents | $289.8M+195.2% | $173.3M+322.9% | $69.5M-14.3% | $88.0M-34.2% | $98.2M-45.3% | $41.0M-80.0% | $81.1M-67.4% | $133.8M+109.7% |
| Inventory | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $0-100.0% | $5.5M+18.9% |
| Accounts Receivable | $157K+41.4% | $14K-98.2% | $81K-97.1% | $8K-99.7% | $111K-97.4% | $762K-26.8% | $2.8M+15.2% | $2.6M+22.9% |
| Total Liabilities | $48.6M-50.9% | $59.7M-36.8% | $92.4M-19.8% | $89.7M-20.7% | $99.0M-11.1% | $94.5M-14.8% | $115.2M-20.1% | $113.1M-20.9% |
| Current Liabilities | $48.2M+29.7% | $53.9M+61.2% | $62.0M+47.9% | $27.1M-32.5% | $37.2M-5.2% | $33.4M-15.9% | $41.9M-32.9% | $40.2M-35.7% |
| Non-Current Liabilities | $410K-99.3% | $5.8M-90.5% | $30.4M-58.5% | $62.5M-14.3% | $61.9M-14.3% | $61.1M-14.2% | $73.2M-10.3% | $72.9M-9.4% |
| Total Equity | $540.3M+76.0% | $416.1M+54.9% | $280.1M+12.0% | $293.3M+1.4% | $307.0M-7.4% | $268.6M-28.2% | $250.1M-35.6% | $289.2M+79.7% |
| Retained Earnings | -$594.3Mn/m | -$636.0Mn/m | -$602.0Mn/m | -$584.5Mn/m | -$560.6Mn/m | -$530.1Mn/m | -$547.0Mn/m | -$503.8Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.
IVNHW Cash Flow 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$42.3Mn/m | -$25.7Mn/m | -$27.7Mn/m | -$10.3Mn/m | -$25.5Mn/m | -$30.7Mn/m | -$36.9Mn/m | -$44.5Mn/m |
| Depreciation & Amortization | $564K-9.3% | N/A | N/A | N/A | $622K0.0% | N/A | N/A | N/A |
| Stock-Based Compensation | $2.6M-13.2% | N/A | $2.7M-32.3% | $3.4M-17.1% | $3.0M-11.1% | N/A | $4.0M-28.7% | $4.1M-25.1% |
| Capital Expenditures | $597K+29750.0% | $37K-97.8% | N/A | $1.3M+149.2% | $2K-99.7% | $1.7M+288.8% | $59K-89.9% | $504K+141.1% |
| Free Cash Flow | -$42.9Mn/m | -$25.7Mn/m | N/A | -$11.6Mn/m | -$25.5Mn/m | -$32.4Mn/m | -$36.9Mn/m | -$45.0Mn/m |
| Investing Cash Flow | $115.2M+1088.0% | -$3.2Mn/m | $9.8Mn/m | -$11.7Mn/m | $9.7Mn/m | -$1.7Mn/m | -$10.1Mn/m | -$1.2Mn/m |
| Financing Cash Flow | $43.0M-39.3% | $131.7Mn/m | $2.1M+1474.1% | $10.1M+840.5% | $70.8M+172.4% | -$8.3M-123.4% | $135K-100.0% | $1.1M-96.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IVNHW 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.9%-1.3pp | 69.5%+4.8pp | 51.2%-10.7pp | 72.5%+8.2pp | 60.1%-12.1pp | 64.7%+40.8pp | 61.9%+76.9pp | 64.3%+59.9pp |
| Operating Margin | 11276.9% | -4167.8% | -4328.3% | -2400.3% | -3674.0% | -2229.4% | -6233.8% | -9023.4% |
| Net Margin | 4864.3% | -3793.2% | -3214.9% | -2233.2% | -4151.7% | 1613.5% | -6443.5% | -8695.7% |
| Return on Equity | 7.7%+17.7pp | -8.2%-16.2pp | -6.3%+11.0pp | -8.1%+8.1pp | -9.9%+8.2pp | 8.0%+16.7pp | -17.3%+4.2pp | -16.2%+11.7pp |
| Return on Assets | 7.0%+14.4pp | -7.0%-12.8pp | -4.5%+7.0pp | -6.0%+5.3pp | -7.4%+5.7pp | 5.7%+12.4pp | -11.5%+4.1pp | -11.2%+3.2pp |
| Current Ratio | 6.25+3.2x | 3.34+1.3x | 1.41-1.1x | 3.84+0.2x | 3.07-1.8x | 2.07-3.4x | 2.50-1.7x | 3.66+2.4x |
| Liabilities-to-Equity | 0.09-0.2x | 0.14-0.2x | 0.33-0.1x | 0.31-0.1x | 0.320.0x | 0.35+0.1x | 0.46+0.1x | 0.39-0.5x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | -5000.8% | -2872.8% | N/A | -1082.2% | -3465.7% | -2432.4% | -5506.6% | -8372.9% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Where Ivanhoe Electric Inc Ranks
Frequently Asked Questions
Ivanhoe Electric Inc (IVNHW) reported $3.2M in total revenue for fiscal year 2025. This represents a 11.8% 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.
Ivanhoe Electric Inc (IVNHW) revenue grew by 11.8% year-over-year, from $2.9M to $3.2M in fiscal year 2025.
No, Ivanhoe Electric Inc (IVNHW) reported a net loss of $105.9M in fiscal year 2025.
Ivanhoe Electric Inc (IVNHW) had EBITDA of -$110.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Ivanhoe Electric Inc (IVNHW) had a gross margin of 65.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Ivanhoe Electric Inc (IVNHW) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Ivanhoe Electric Inc (IVNHW) recorded an outflow of $90.4M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Ivanhoe Electric Inc (IVNHW) recorded an outflow of $89.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Ivanhoe Electric Inc (IVNHW) had $483.3M in total assets as of fiscal year 2025, including both current and long-term assets.
Ivanhoe Electric Inc (IVNHW) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Ivanhoe Electric Inc (IVNHW) invested $275K in research and development during fiscal year 2025.
Ivanhoe Electric Inc (IVNHW) had a current ratio of 3.34 as of fiscal year 2025, which is generally considered healthy.
Ivanhoe Electric Inc (IVNHW) had a liabilities-to-equity ratio of 0.14 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Ivanhoe Electric Inc (IVNHW) had a return on assets of -21.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Ivanhoe Electric Inc (IVNHW) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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.
Ivanhoe Electric Inc (IVNHW) reported a net loss of $105.9M while operations used $89.2M 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.
Ivanhoe Electric Inc (IVNHW) reported an operating loss of $113.6M against $2.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.