The company continues to struggle with structural margin deficits, evidenced by a negative 41.6% operating margin and a -150.0% net margin reported in 2026Q1.
| Sales/Revenue | 133.53M | 89.17M | 50.34M | 54.91M | 36.96M | 0 | 0 | 10.46M | 27.92M | 86.64M |
| Revenue Growth % | 138.59% | 77.16% | -8.33% | 48.57% | - | - | -100% | -62.53% | -67.77% | - |
| Cost of Goods Sold | 134.89M | 98.89M | 66.06M | 60.05M | 33.39M | 387K | 314K | 5.5M | 9.55M | 22.9M |
| COGS % of Revenue | - | 110.9% | 131.24% | 109.37% | 90.34% | - | - | 52.59% | 34.2% | 26.43% |
| Gross Profit | -1.35M | -9.72M | -15.72M | -5.14M | 3.57M | -387K | -314K | 4.96M | 18.37M | 63.74M |
| Gross Margin % | -1.01% | -10.9% | -31.24% | -9.37% | 9.66% | - | - | 47.41% | 65.8% | 73.57% |
| Gross Profit Growth % | - | 38.18% | -205.66% | -244.13% | 1022.22% | -23.25% | -106.33% | -73% | -71.18% | - |
| Operating Expenses | 102.82M | 78.28M | 73.36M | 95.81M | 65.43M | 23.62M | 5.92M | 8.16M | 9.99M | 56.74M |
| OpEx % of Revenue | - | 87.78% | 145.75% | 174.48% | 177.04% | - | - | 77.95% | 35.79% | 65.49% |
| Selling, General & Admin | 32.01M | 26.65M | 20.77M | 21.64M | 20.37M | 23.62M | 5.92M | 8.16M | 10.3M | 17.06M |
| SG&A % of Revenue | - | 29.88% | 41.27% | 39.41% | 55.12% | - | - | 77.95% | 36.88% | 19.69% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 51.63M | 52.59M | 74.17M | 45.06M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -104.18M | -88M | -89.09M | -100.95M | -61.86M | -24M | -6.23M | -3.19M | 8.07M | 12.97M |
| Operating Margin % | -78.01% | -98.68% | -176.99% | -183.85% | -167.38% | - | - | -30.54% | 28.92% | 14.97% |
| Operating Income Growth % | - | 1.22% | 11.75% | -63.2% | -157.72% | -285.1% | -95.09% | -139.57% | -37.74% | - |
| EBITDA | -99.65M | -84.22M | -85.89M | -92.24M | -55.68M | -23.76M | -6.01M | -2.54M | 8.85M | 16.93M |
| EBITDA Margin % | -74.63% | -94.45% | -170.63% | -167.99% | -150.65% | - | - | -24.3% | 31.7% | 19.55% |
| EBITDA Growth % | -25.5% | 1.94% | 6.89% | -65.68% | -134.3% | -295.52% | -136.35% | -128.72% | -47.73% | - |
| D&A (Non-Cash Add-back) | 4.52M | 3.78M | 3.2M | 8.71M | 6.18M | 240K | 225K | 653K | 777K | 3.97M |
| EBIT | -161.61M | -148.19M | -88.47M | -66.53M | -73.9M | -24.31M | -6.29M | -3.89M | 1.59M | 12.97M |
| Net Interest Income | -24.04M | -27.85M | -31.24M | -29.08M | -17.13M | 338K | -242K | 0 | 0 | 0 |
| Interest Income | 4.3M | 972.09K | 323K | 533.35K | 0 | 1.51M | 4.59M | 4.56M | 4.6M | 4.75M |
| Interest Expense | 28.33M | 28.82M | 31.57M | 29.62M | 17.13M | 1.18M | 4.83M | 0 | 0 | 0 |
| Other Income/Expense | -134.15M | -89.01M | -30.95M | 8.09M | -29.17M | 120.68M | -6.26M | -4.9M | 0 | -10.72M |
| Pretax Income | -238.32M | -177.01M | -120.03M | -92.87M | -91.03M | 96.67M | -12.49M | -8.1M | 3.78M | 2.25M |
| Pretax Margin % | -178.47% | -198.5% | -238.47% | -169.13% | -246.31% | - | - | -77.39% | 13.54% | 2.59% |
| Income Tax | -2.08M | -2.36M | 1.5M | -3.21M | -11.83M | 20.05M | 0 | 0 | 614K | 2.5M |
| Effective Tax Rate % | 0.87% | 1.33% | -1.25% | 3.46% | 13% | 20.74% | 0% | 0% | 16.24% | 111.17% |
| Net Income | -236.24M | -174.65M | -121.53M | -89.65M | -79.2M | 88.22M | -2.77M | -8.1M | 3.17M | -251K |
| Net Margin % | -176.91% | -195.86% | -241.45% | -163.27% | -214.29% | - | - | -77.39% | 11.34% | -0.29% |
| Net Income Growth % | -71.19% | -43.7% | -35.56% | -13.2% | -189.77% | 3280.35% | 65.74% | -355.75% | 1361.35% | - |
| Net Income (Continuing) | -236.24M | -174.65M | -121.53M | -89.65M | -79.2M | 76.62M | -12.49M | -8.1M | 3.17M | -251K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 11.6M | 9.72M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.28 | -0.27 | -0.34 | -0.33 | -0.33 | 0.37 | -0.02 | -0.05 | 0.02 | -0.00 |
| EPS Growth % | 19.91% | 20.59% | -3.03% | 0% | -189.19% | 2412.5% | 66.6% | -356.15% | - | - |
| EPS (Basic) | - | -0.27 | -0.34 | -0.33 | -0.33 | 0.37 | -0.02 | -0.05 | 0.02 | -0.00 |
| Diluted Shares Outstanding | 837.1M | 671.73M | 359.21M | 274.06M | 240.1M | 238.7M | 182.16M | 169.13M | 169.13M | 169.13M |
| Basic Shares Outstanding | 837.1M | 671.73M | 359.21M | 274.06M | 240.1M | 238.7M | 182.16M | 169.13M | 169.13M | 169.13M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Operational execution and dilution
According to the latest quarterly financial data, i-80 Gold Corp. experienced significant revenue volatility, with a 2.7% growth rate in 2026Q1 following a 178.2% surge in 2025Q3, reflecting the inherent instability of transitioning from early-stage test mining to consistent commercial production across its Nevada assets.
The erratic revenue trajectory suggests that the company is currently reliant on intermittent metal pours rather than a steady-state production profile. Investors should monitor whether future growth stabilizes as the Granite Creek and Ruby Hill projects move toward full-scale operations, as current figures remain highly sensitive to timing.
As reported in recent income statements, the company's gross margin fluctuated significantly, reaching a negative 19.0% in 2026Q1, which highlights the difficulty of covering high fixed costs associated with complex underground mining and the maintenance of the Lone Tree processing facility during this development phase.
The inability to maintain positive gross margins suggests that the current scale of operations is insufficient to absorb the substantial dewatering and ventilation expenses required in Nevada. This margin profile appears to be a direct consequence of operating infrastructure that is not yet running at its intended capacity.
Based on the provided financial filings, the company's operating margin of -41.6% in 2026Q1 indicates that administrative and development overhead continues to outpace revenue generation, preventing the realization of any meaningful operating leverage as the firm attempts to scale its regional processing hub in the Battle Mountain-Eureka trend.
The persistent negative operating income suggests that the company is currently in a high-burn phase where every dollar of revenue is eclipsed by the costs of maintaining its infrastructure. Without a significant increase in throughput, the company may continue to struggle with achieving the economies of scale necessary for profitability.
Data from the income statement reveals that the company's cost structure is heavily weighted toward fixed operational requirements, as evidenced by the consistent failure to achieve positive gross profit in several periods, including the -10.0 million dollar gross profit reported in the most recent quarter.
The company's expense discipline appears secondary to the immediate necessity of funding complex underground development and processing restarts. This cost structure warrants further investigation into whether management can successfully transition from capital-intensive development to a leaner, production-focused cost model without further eroding the balance sheet.
Based on the reported figures, the company's net margin of -150.0% in 2026Q1 underscores the significant risk that the current development strategy may fail to reach self-sustaining cash flow before existing liquidity is exhausted, potentially forcing further dilutive equity raises to bridge the operational funding gap.
Short-sellers would likely focus on the persistent cash burn and the technical complexity of restarting the Lone Tree autoclave as primary indicators of potential failure. The market's current valuation may be overly optimistic if the company cannot demonstrate a clear path to operational break-even in the near term.
Quick answers to the most common questions about buying IAUX stock.
For fiscal year 2025, i-80 Gold Corp. (IAUX) reported total revenue of $89.2M. This represents a 2.9% increase compared to $86.6M in 2017.
i-80 Gold Corp. (IAUX) reported a net loss of $174.6M for the fiscal year ending 2025.
i-80 Gold Corp. (IAUX) reported an operating income of $-88.0M, resulting in an operating profit margin of -98.7%. This margin reflects the operational efficiency of the business before interest and taxes.
i-80 Gold Corp. (IAUX) generated $-9.7M in gross profit for the year, representing a gross profit margin of -10.9%. This demonstrates the company's core pricing power and production efficiency.