Ivanhoe Electric Inc.

Listed Company

IECIK 0001879016NYSELarge AcceleratedMetal MiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.24M

Net Income

$-105.87M

Total Assets

$483.27M

Equity

$416.11M

Shares Out

157.42M

Op. Cash Flow

$-89.20M

Business

Ivanhoe Electric Inc. is a minerals exploration company focused on discovering and developing mines, principally in the United States, with an emphasis on copper and other critical metals. It offers mineral exploration and development services, proprietary Typhoon™ deep-penetrating geophysical survey technology, geophysical data inversion and AI services through CGI, and grid-scale vanadium redox flow energy storage via VRB Energy. The company operates organized activities across business segments for U.S. mineral projects (notably Santa Cruz), international projects, technology/licensing, and energy storage. Its projects and services are deployed primarily in the U.S. (Arizona, Utah, Montana and other western states) and internationally in Saudi Arabia, Colombia, Ivory Coast, and Peru through joint ventures, alliances, licenses and service agreements.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	3	3	4	8	5
Cost of sales	−1	−1	−3	−3	−2
Gross profit	2	2	917,000	5	3
Exploration expenses	63	131	127	105	40
General and administrative expenses	39	45	48	27	20
Research and development expenses	275,000	3	6	5	4
Selling and marketing expenses	26,000	297,000	276,000	173,000	149,000
Provision expected for credit loss	10	0	0	—	—
Impairment	3	0	0	—	—
Loss from operations	114	177	180	132	−61
Interest expense, net	4	3	3	972,000	—
Foreign exchange loss (gain)	553,000	665,000	−1	1	−254,000
Share of losses from significant influence investments	6	9	36	4	213,000
Gain on disposal of subsidiary	0	−51	0	0	—
Other expenses (income), net	1	2	−1	1	580,000
Loss before income taxes	125	140	217	160	68
Income taxes (recovery)	12,000	32,000	−584,000	618,000	484,000
Net loss	125	140	216	160	69
Less loss attributable to non-controlling interests	−19	−12	−17	−10	−9
Net loss attributable to common stockholders or parent	106	129	199	—	—
Foreign currency translation adjustments	65,000	1	1	−560,000	−89,000
Other comprehensive loss	65,000	1	1	−560,000	−89,000
Comprehensive loss	125	141	217	160	68
Common stockholders or parent	106	130	200	150	59
Non-controlling interests	19	11	17	10	9
Basic (in USD per share)	0.79	1.07	1.95	1.91	0.96
Diluted (in USD per share)	0.79	1.07	1.95	1.91	0.96
Basic (in shares)	134	120	102	79	62
Diluted (in shares)	134	120	102	79	62

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	173	41	205	140	50
Restricted cash	3	4	0	—	—
Accounts and other receivables	526,000	22	3	1	—
Prepaid expenses and deposits	3	2	3	4	1
Total current assets	180	69	216	151	58
Investments subject to significant influence	58	65	39	6	8
Other investments	1	2	3	2	2
Exploration properties	224	226	216	87	73
Property, plant and equipment	9	10	7	4	3
Other non-current assets	10	3	6	9	6
Total assets	483	375	487	260	154
Accounts payable and accrued liabilities	16	11	20	14	10
Note payable, current	0	12	13	0	—
Convertible debt	34	0	—	—	—
Deferred exploration liability	3	4	0	—	—
Lease liabilities, current	1	784,000	699,000	706,000	342,000
Total current liabilities	54	33	40	17	41
Note payable	0	24	36	0	—
Convertible debt	0	31	28	26	79
Deferred income taxes	5	4	5	4	5
Lease liabilities, net of current portion	1	2	1	403,000	55,000
Other non-current liabilities	0	370,000	562,000	388,000	865,000
Total liabilities	60	95	111	58	126
Commitments and contingencies (Note 25)	—	—	—	—	—
Common stock, par value $0.0001; 700,000,000 shares authorized; 145.5 million shares issued and outstanding as of December 31, 2025 (December 31, 2024 - 700,000,000 authorized; 120.6 million issued and outstanding)	15,000	12,000	12,000	9,000	6,000
Additional paid-in capital	1,056	802	778	410	76
Accumulated deficit	−636	−530	−402	−202	−52
Accumulated other comprehensive income	−4	−3	−2	−1	−2
Equity attributable to common stockholders	416	269	374	206	22
Non-controlling interests	7	12	2	−4	6
Total equity	424	280	376	202	28
Total liabilities and equity	483	375	487	260	154

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	3	3	4	4
Stock-based compensation	12	15	21	5	4
Non-cash exploration and research and development expense	300,000	1	3	1	—
Interest expense	3	3	4	2	—
Unrealized foreign exchange loss (gain)	336,000	527,000	−1	1	−376,000
Income taxes	0	0	−583,000	618,000	—
Other	1	3	−367,000	3	210,000
Trade accounts receivable	1	385,000	−2	−112,000	1
Operating lease liabilities	−868,000	−1	−966,000	−873,000	—
Accounts payable and accrued liabilities	603,000	−8	2	3	6
Deferred exploration liability	−1	4	0	0	—
Other operating assets and liabilities	−1	−624,000	2	−2	—
Net cash used in operating activities	−89	−162	−151	−116	−48
Purchase of exploration properties	−1	−11	−81	−36	—
Deposits paid for property, plant and equipment	−1	−3	−2	−9	−4
Deposits paid for property, plant and equipment	−3	0	0	—	—
Purchase of investments subject to significant influence	0	−1	−69	−4	−870,000
Proceeds from sale of a subsidiary	10	0	0	—	—
Cash acquired on acquisition of subsidiary	0	227,000	0	0	—
Net cash provided by (used in) investing activities	5	−14	−151	−48	−23
Net proceeds from issuance of common stock	231	0	320	158	10
Promissory note payment	−36	−12	0	0	—
Proceeds from related party loan	5	5	4	10	0
Repayment of related party loan	−10	0	0	—	—
Non-controlling interests investment in subsidiary	20	26	39	0	—
Proceeds from exercise of stock options and warrants	6	867,000	3	181,000	0
Debt issuance costs	−626,000	0	0	—	—
Other	−759,000	−1	−44,000	−21,000	0
Net cash provided by financing activities	215	19	366	254	111
Effect of foreign exchange rate changes on cash and cash equivalents	855,000	−2	210,000	−482,000	−3,000
Increase (decrease) in cash and cash equivalents and restricted cash	131	−160	65	90	41
Interest paid	4	5	4	—	—
Cash paid for income taxes	29,000	2	1	666,000	634,000
Issuance of common stock	0	1	0	171	66
Non-controlling interests investment in subsidiary	0	4	11	0	—
Settlement of related party loan	0	−4	0	0	—
Note payable issued as consideration for land purchase	0	0	83	0	—
Settlement of loan upon issuance of shares of subsidiary	0	0	−11	0	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro