10-K · February 23, 2026
Ivanhoe Electric Inc. reported a net loss of $105.9 million for the year ended December 31, 2025, an improvement from a loss of $128.6 million in 2024. Revenue increased to $3.2 million mainly from its data processing…
Earnings analysis · 10-Q
IE earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Ivanhoe Electric (IE) reported substantial improvements for Q1 2026, showcasing a significant recovery with a net income of $41.7 million. This turnaround from a net loss of $30.5 million in the prior year was largely…
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Ivanhoe Electric (IE) reported substantial improvements for Q1 2026, showcasing a significant recovery with a net income of $41.7 million. This turnaround from a net loss of $30.5 million in the prior year was largely driven by a $124.7 million gain from the sale of the Alacrán Copper Project. The company's revenue showed a rise from $736K in Q1 2025 to $858K in Q1 2026, marking a 16.67% increase.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.27
- Gross margin
- 58.8%
- Segment
- Santa Cruz Copper Project
- Segment
- Critical Metals
- Segment
- Data Processing Services
- Segment
- Energy Storage
What stood out
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Net Income Turnaround
For Q1 2026, net income was $41.7 million, up $72.3 million from a net loss of $30.5 million in Q1 2025.
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Revenue Growth
Revenue increased to $858K in Q1 2026, a 16.67% rise from $735K in Q1 2025.
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Significant Gain from Asset Sale
Reported a $124.7 million gain on the sale of Cordoba's Alacrán Project in March 2026.
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Improved Gross Profit
Gross profit from CGI services rose to $505K, a 14% increase from $442K in Q1 2025.
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Cash and Cash Equivalents at $289.8M
Cash resources remain strong, providing liquidity for business operations.
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Positive Free Cash Flow
Net cash from investing activities was $115.2 million, primarily due to the Alacrán Project sale.
What to watch
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High Exploration Expenses
Exploration expenses increased to $23.2 million in Q1 2026 from $15.8 million in Q1 2025, potentially straining future resources.
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Dependence on Future Revenue Generation
Continued reliance on future projects pushing towards revenue generation remains a risk, as the company has not yet generated from mining.
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Geopolitical Risks
Ongoing military conflicts in the Middle East could adversely affect operations in Saudi Arabia and raise operational costs.
Management's outlook
Management indicates an expectation of continued revenue developments from ongoing projects and partnerships.
Earlier filings 4
10-Q · November 5, 2025
IE's Q3 2025 report shows significant improvement in net losses, narrowing from $43.2 million to $17.5 million year-over-year. Revenue climbed to $545 million, a notable surprise over analyst estimates, signaling a…
10-Q · August 5, 2025
Ivanhoe Electric Inc. reported its Q2 2025 results with revenue of $1 million, a significant improvement from $538,000 in Q2 2024. EPS loss narrowed to -$0.18 from -$0.39 year-over-year, as exploration expenses were…
10-Q · May 6, 2025
Ivanhoe Electric Inc. reported a revenue of $735,000, representing a decrease from $1 million in the previous quarter and an increase from $360,000 in the same quarter last year. The company incurred a diluted EPS loss…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.