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Financial statements

i-80 Gold Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data i-80 Gold Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2022FY2022FY2023FY2024FY2025
Revenue03754.950.395.2
Cost of revenue028.952.964.682
Gross profit03.57-5.14-15.711.5
General and administrative2.746.2321.620.829.4
Operating income-28.4-58.9-101-89.1-124
Interest expense0.6520.527.332.529.6
Interest income0.92.96
Pre-tax income96.7-91-92.9-120-202
Income tax20.1-11.8-3.211.5-3.29
Income from continuing operations76.6-79.2-65.2
Net income88.2-79.2-89.7-122-199
EBITDA-28.4-54.3-92.2-85.9
EPS, basic0.83-0.45-0.33-0.34-0.30
EPS, diluted0.80-0.45-0.33-0.34-0.30
Shares, basic (weighted)274359672
Shares, diluted (weighted)274359672

Balance sheet

FY2022FY2022FY2023FY2024FY2025
Cash and equivalents87.781.216.31963.2
Receivables0.390.624.323.271.91
Inventory2616.511.415.329.3
Other current assets3.21.280.29
Total current assets12177.339.842.3100
Property, plant and equipment503529569572556
Lease right-of-use assets0.580.520.334.67
Other non-current assets0.590.594.67
Total assets656642654656703
Accounts payable8.5310.627.226.441.5
Short-term debt31.237.876.8
Total current liabilities29.985.665.274.1138
Long-term debt16315497.9
Other non-current liabilities16.715.248.5
Total liabilities249309309315357
Total debt41.4114194191175
Paid-in capital19.31930.6
Retained earnings43.1-36.1-163-285-484
Shareholders' equity296345341347
Total equity407333426341347
Total liabilities and equity656642654656703
Shares outstanding299410827

Cash flow statement

FY2022FY2022FY2023FY2024FY2025
Net income88.2-79.2-89.7-122-199
Depreciation and amortization04.538.713.2
Stock-based compensation2.310.579.13
Deferred income tax-3.441.5-3.29
Change in receivables-3.61.081.4
Change in inventory1.38-3.62-13.7
Change in payables9.92-0.759.34
Cash from operations-13-45.8-77.5-82.5-83.6
Capital expenditures-6.02-50.2-17.4-2.02-9.62
Acquisitions100
Purchases of investments-0.890
Cash from investing-138-54.7-8.27-1.59-9.62
Debt repaid-20.9-15-25.6-33.1-76.5
Stock issued01.95118194
Cash from financing22361.465.482.7139
Exchange rate effect0.12-0.23-0.04-0.050.15
Net change in cash-20.4-1.4345.8
Free cash flow-19-96.1-94.9-84.5-93.2
Interest paid0.441.59

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.74 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin25.0%Gross profit / revenue.
Operating margin-112.1%Operating income / revenue.
Pre-tax margin-198.5%Pre-tax income / revenue.
Net margin-198.8%Net income / revenue.
FCF margin-142.9%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin-110.9%Cash from operations / revenue.
Return on equity (ROE)-100.2%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-22.0%Net income / average total assets.
Return on invested capital (ROIC)-48.1%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue9.0%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue32.0%Capital expenditures / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y89.1%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y37.1%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 3y47.7%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y1.8%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y5.4%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y7.3%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y3.1%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y87.0%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio8.63xCurrent assets / current liabilities.
Quick ratio7.93x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio7.81x(Cash + short-term investments) / current liabilities.
Debt / equity1.73xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets38.0%Total debt / total assets.
Liabilities / assets78.0%Total liabilities / total assets.
Net debt-$18.8MTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage-5.60xOperating income / interest expense.
Working capital$454.0MCurrent assets - current liabilities.
Tangible book value$258.0MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.11xRevenue / average total assets.
Fixed asset turnover0.22xRevenue / average property, plant and equipment.
Inventory turnover2.73xCost of revenue / average inventory.
Days inventory134 days365 x average inventory / cost of revenue.
Receivables turnover19.3xRevenue / average receivables.
Days sales outstanding19 days365 x average receivables / revenue.
Days payables174 days365 x average accounts payable / cost of revenue.
Cash conversion cycle-21 daysDays inventory + days sales outstanding - days payables.

Per share

MetricValueHow it is calculated
EPS, diluted-$0.30Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$0.15Revenue / diluted weighted shares.
FCF per share-$0.22Free cash flow / diluted weighted shares.
Operating cash flow per share-$0.17Cash from operations / diluted weighted shares.
Book value per share$0.30Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$0.30Tangible book value / shares outstanding.
Cash per share$0.54(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$1.51BShare price x shares outstanding.
Enterprise value$1.49BMarket cap + total debt - cash - short-term investments.
P/S11.6xMarket cap / revenue.
P/B5.84xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book5.84xMarket cap / tangible book value, when positive.
EV/Sales11.4xEnterprise value / revenue.
FCF yield-12.3%Free cash flow / market cap.
Earnings yield-17.2%Net income / market cap (the inverse of P/E).
What was i-80 Gold Corp.'s revenue in fiscal 2025?

i-80 Gold Corp. reported revenue of $95.2M for fiscal 2025, 89.1% higher than the year before.

Was i-80 Gold Corp. profitable in fiscal 2025?

No. It reported a net loss of $198.8M.

How much free cash flow did i-80 Gold Corp. generate in fiscal 2025?

Cash from operations of $83.6M minus capital expenditures of $9.6M left free cash flow of -$93.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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