Ivanhoe Electric Inc. IE
We are a technology-driven United States minerals exploration and development company with a focus on copper and other critical metals vital to electric transmission and generation, manufacturing, infrastructure development, technology, and national security. Our wholly owned assets are located in the United States. We operate exploration joint ventures and alliances in Saudi Arabia, Chile and the United States. We use our powerful Typhoon™ geophysical surveying system, together with advanced data analytics provided by our subsidiary, Computational Geosciences Inc. ("CGI"), to accelerate and de-risk the mineral exploration process in the search for new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.2M | $2.9M | $3.9M | $8.4M | $4.7M | — |
| Cost of revenue | $1.1M | $1.0M | $3.0M | $3.1M | $1.5M | — |
| Gross profit | $2.1M | $1.9M | $917.0K | $5.3M | $3.1M | — |
| R&D | $275.0K | $2.9M | $6.1M | $5.0M | $3.8M | — |
| SG&A | $39.2M | $44.7M | $48.2M | $27.0M | $20.4M | — |
| Operating income | -$113.6M | -$177.0M | -$180.4M | -$132.2M | -$60.7M | — |
| Interest expense | $2.8M | $2.9M | $3.7M | $2.1M | $1.5M | — |
| Pre-tax income | -$125.0M | -$140.2M | -$215.5M | -$159.6M | -$68.0M | — |
| Income tax | $12.0K | $32.0K | $584.0K | $618.0K | $484.0K | — |
| Net income | -$125.0M | -$140.3M | -$216.1M | -$160.2M | -$68.5M | — |
| EPS, basic | 0.79 | 1.07 | 1.95 | 1.91 | 0.96 | — |
| EPS, diluted | 0.79 | 1.07 | 1.95 | 1.91 | 0.96 | — |
| Shares, diluted (wtd. avg.) | 133.6M | 120.4M | 102.5M | 78.5M | 61.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $173.3M | $41.0M | $205.0M | $139.7M | $49.9M | $9.3M |
| Receivables | — | $762.0K | $1.0M | $1.5M | $1.4M | — |
| Inventory | — | $0 | $5.0M | $5.6M | $5.9M | — |
| Total current assets | $180.2M | $69.3M | $216.5M | $151.0M | $58.3M | — |
| Property, plant and equipment | $9.3M | $9.7M | $6.6M | $3.9M | $2.5M | — |
| Other intangibles | — | — | $123.0K | $1.2M | $4.3M | — |
| Total assets | $483.3M | $374.9M | $487.2M | $260.5M | $153.5M | — |
| Accounts payable | $16.3M | $11.1M | $19.9M | $13.9M | $10.2M | — |
| Total current liabilities | $53.9M | $33.4M | $39.7M | $17.4M | $40.6M | — |
| Total liabilities | $59.7M | $94.5M | $110.9M | $58.0M | $125.7M | — |
| Retained earnings | -$636.0M | -$530.1M | -$401.5M | -$202.1M | -$52.3M | — |
| Total equity | $416.1M | $268.6M | $376.3M | $202.4M | $27.8M | $48.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$89.2M | -$162.1M | -$150.5M | -$115.7M | -$47.8M | — |
| Depreciation and amortisation | $3.0M | $2.7M | $2.6M | $4.2M | $4.2M | — |
| Stock-based compensation | $11.7M | $15.0M | $21.0M | $4.8M | $3.7M | — |
| Capital expenditure | $1.2M | $2.9M | $1.6M | $8.5M | $4.0M | — |
| Investing cash flow | $4.6M | -$14.5M | -$150.8M | -$48.4M | -$22.6M | — |
| Financing cash flow | $214.7M | $18.9M | $366.5M | $254.4M | $111.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015947.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $4.7M | $8.4M | $3.9M | $2.9M | $3.2M |
| Gross profit | — | $3.1M | $5.3M | $917.0K | $1.9M | $2.1M |
| Net income | — | -$68.5M | -$160.2M | -$216.1M | -$140.3M | -$125.0M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed Item 1.01
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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