Short answer
Ivanhoe Electric Inc. (IE) filed its fiscal 2025 10-K annual report with the SEC on Feb 23, 2026. It reported revenue of $3M (+11.8% year over year) and net income of −$106M.
- Top risk flagged: Credit risk $10.3M provision for expected credit loss on $Red Sun payment related to VRB China sale, due June 30, 2025, not received due to cross-border collection issues
FY2025 key financial metrics · XBRL
- Revenue
- $3M
- +11.8% YoY
- Net income
- −$106M
- +17.7% YoY
- Operating margin
- -3501.0%
- +2598.7 pp YoY
- Gross margin
- 65.3%
- +0.4 pp YoY
- EPS (diluted)
- $0.79
- −26.2% YoY
- ROE
- -25.4%
- +22.4 pp YoY
- Operating cash flow
- −$89M
- +45.0% YoY
Source: XBRL data from the Ivanhoe Electric Inc. (IE) FY2025 10-K on SEC EDGAR. USD.
Ivanhoe Electric Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: US-focused copper and critical metals exploration & development using proprietary Typhoon™ geophysical survey technology
- New collaboration with SQM in Chile for copper exploration beneath caliche cover, funded initially with $9 million by SQM
- Strategic shift: Established $15 million funded 3-year Exploration Alliance with BHP in US Southwest for 50/50 joint ventures
- Quantitative highlight: Santa Cruz Copper Project PFS shows 1.4 million tonnes copper cathode over 23 years, after-tax NPV $1.4B, IRR 20%
- Noteworthy: First mineral discovery at Saudi JVCo in Saudi Arabia announced Jan 2025, with active drilling planned into 2026
Management Discussion & Analysis
- Forward-looking statements highlight risks, uncertainties, and assumptions may affect actual results and timing
- No management outlook, guidance, or key emerging risks detailed in provided excerpt
Risk Factors
- Credit risk $10.3M provision for expected credit loss on $Red Sun payment related to VRB China sale, due June 30, 2025, not received due to cross-border collection issues
- Geopolitical exposure via 50/50 JV with Saudi Arabian Mining Company on 50,000 km2 Arabian Shield exploration licenses expanded by 1,345 km2
- Supply chain and operational risk from reliance on proprietary Typhoon™ geophysical surveying system and its subsidiary Computational Geosciences Inc. providing 100% of data processing revenue
- Competitive risk from alliance with BHP Mineral Resources Inc. to explore US critical minerals, potentially disrupting Ivanhoe’s market position
- Liquidity risk despite $173.3M cash and $200M undrawn bridge facility, expects need for additional financing beyond 12 months to advance projects
Generated from the filing text; verify against the original. How to read a 10-K
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