Revenue remains highly volatile due to intermittent test mining, with quarterly figures fluctuating between zero and $24.2M, while gross margins have oscillated from negative levels to 71.8% in 2025Q4.
| Sales/Revenue | 37.69M | 35.45M | 4.56M | 31.63M | 64.05M | 7.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 1249.52% | 677.39% | -85.58% | -50.62% | 736% | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 14.53M | 60.67M | 5.08M | 32.51M | 56.81M | 7.78M | 0 | 0 | 0 | 0 | 0 | 438 | 641 |
| COGS % of Revenue | - | 171.13% | 111.36% | 102.8% | 88.7% | 101.58% | - | - | - | - | - | - | - |
| Gross Profit | 23.17M | -25.22M | -518K | -887K | 7.24M | -121K | 0 | 0 | 0 | 0 | 0 | -438 | -641 |
| Gross Margin % | 61.46% | -71.13% | -11.36% | -2.8% | 11.3% | -1.58% | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -4768.04% | 41.6% | -112.26% | 6080.17% | - | - | - | - | - | 100% | 31.67% | - |
| Operating Expenses | 69.02M | 28.36M | 72.79M | 208.55M | 241.54M | 157.24M | 8.3M | 3.84M | 465.86K | 72.47K | 146.08K | 215.72K | 717.01K |
| OpEx % of Revenue | - | 79.99% | 1596.23% | 659.45% | 377.14% | 2052.53% | - | - | - | - | - | - | - |
| Selling, General & Admin | 31.85M | 28.36M | 27.01M | 39.85M | 30.23M | 21.53M | 8.3M | 3.67M | 1.17M | 72.47K | 146.08K | 215.72K | 629.81K |
| SG&A % of Revenue | - | 79.99% | 592.39% | 126.01% | 47.2% | 281.09% | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.68M | 0 | 45.77M | 168.7M | 211.31M | 135.71M | 0 | 178K | -15.97K | 0 | 0 | 0 | 87.2K |
| Operating Income | -45.85M | -53.57M | -73.31M | -209.44M | -234.3M | -157.37M | -8.3M | -53.83M | -466K | -72.47K | -146.08K | -216.16K | -717.65K |
| Operating Margin % | -121.65% | -151.13% | -1607.59% | -662.25% | -365.84% | -2054.11% | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 26.92% | 65% | 10.61% | -48.89% | -1795.74% | 84.58% | -11451.29% | -543.02% | 50.39% | 32.42% | 69.88% | - |
| EBITDA | -40.65M | -43.75M | -62.29M | -197.91M | -222.73M | -154.85M | -8.07M | -3.84M | 6.88M | -116.91K | -146.08K | -215.72K | -717.01K |
| EBITDA Margin % | -107.84% | -123.43% | -1366.07% | -625.81% | -347.77% | -2021.33% | - | - | - | - | - | - | - |
| EBITDA Growth % | 52.43% | 29.76% | 68.52% | 11.14% | -43.83% | -1818.41% | -109.99% | -155.89% | 5983.06% | 19.97% | 32.28% | 69.91% | - |
| D&A (Non-Cash Add-back) | 5.21M | 9.82M | 11.01M | 11.53M | 11.57M | 2.51M | 229K | 49.98M | 7.34M | -44.44K | 0 | 438 | 641 |
| EBIT | -130.84M | -53.57M | -68.22M | -191.01M | -184.99M | -145.52M | -9.09M | -3.84M | -8.52M | -69.32K | -36.85K | -214.78K | -4.02M |
| Net Interest Income | -6.18M | 2.16M | -13.49M | -8.54M | -3.98M | 24K | -403K | 63K | 0 | 0 | 0 | -311 | -19 |
| Interest Income | 0 | 8.82M | 3.98M | 4.83M | 1.78M | 773K | 384K | 63K | 0 | 0 | 0 | 22 | 558 |
| Interest Expense | 6.18M | 6.67M | 17.47M | 13.38M | 5.76M | 749K | 787K | 0 | 141 | 123 | 142 | 333 | 577 |
| Other Income/Expense | -44.43M | -105.84M | -12.39M | 5.05M | 43.55M | 11.09M | 7.04M | -40.53M | -465K | 3.02K | 109.09K | 1.05K | -3.3M |
| Pretax Income | -90.28M | -159.41M | -85.69M | -204.39M | -190.75M | -146.27M | -1.27M | -94.36M | -931K | -69.45K | -36.99K | -215.11K | -4.02M |
| Pretax Margin % | -239.52% | -449.69% | -1879.28% | -646.29% | -297.84% | -1909.32% | - | - | - | - | - | - | - |
| Income Tax | -354K | -65.94K | 648K | -22.52M | 1.71M | -12.97M | 6.81M | -18.66M | 2.03M | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0.39% | 0.04% | -0.76% | 11.02% | -0.89% | 8.87% | -537.6% | 19.77% | -217.62% | 0% | 0% | 0% | 0% |
| Net Income | -71.46M | -168.87M | -86.34M | -181.87M | -192.46M | -133.3M | -8.07M | -75.7M | -2.01M | -113.89K | -5.87K | -157.84K | -2.81M |
| Net Margin % | -189.6% | -476.39% | -1893.49% | -575.09% | -300.5% | -1740.01% | - | - | - | - | - | - | - |
| Net Income Growth % | 38.23% | -95.59% | 52.53% | 5.5% | -44.38% | -1551.41% | 89.34% | -3664.4% | -1665.69% | -1839.26% | 96.28% | 94.38% | - |
| Net Income (Continuing) | -89.93M | -159.34M | -86.34M | -181.87M | -192.46M | -133.3M | -8.07M | -75.7M | -9.77M | -69.45K | -36.99K | -215.11K | -4.02M |
| Discontinued Operations | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.62M | -1.67M | -1.64M | -1.58M |
| EPS (Diluted) | -0.23 | -0.95 | -0.92 | -2.21 | -3.02 | -3.03 | -0.21 | -2.00 | -177.22 | -10.23 | -0.53 | -14.18 | -252.24 |
| EPS Growth % | 16.1% | -3.26% | 58.37% | 26.82% | 0.33% | -1342.86% | 89.5% | 98.87% | -1632.36% | -1830.19% | 96.26% | 94.38% | - |
| EPS (Basic) | - | -0.95 | -0.92 | -2.21 | -3.02 | -3.03 | -0.21 | -2.00 | -177.22 | -10.23 | -0.53 | -14.18 | -252.24 |
| Diluted Shares Outstanding | 311.05M | 178.2M | 93.83M | 82.47M | 63.8M | 44.05M | 37.91M | 37.86M | 55.15K | 11.13K | 11.13K | 11.13K | 11.13K |
| Basic Shares Outstanding | 285.21M | 178.2M | 93.83M | 82.47M | 63.8M | 44.05M | 37.91M | 37.86M | 55.15K | 11.13K | 11.13K | 11.13K | 11.13K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Pre-commercial liquidity constraints
As reported in financial statements, ODV's revenue trajectory remains highly volatile, characterized by intermittent test production rather than consistent commercial output, with quarterly figures fluctuating between zero and $24.2M over the last ten periods, underscoring the company's current status as a pre-commercial development-stage mining entity.
The extreme variance in top-line performance suggests that revenue is currently a byproduct of incidental mineral recovery rather than a scalable operational model. Investors should interpret these figures as indicators of project-specific progress at Tintic and San Antonio rather than evidence of a sustainable growth trend.
Based on reported figures, the company's gross margins have oscillated wildly from negative territory to as high as 71.8% in 2025Q4, reflecting the lack of a stable, commercial-scale production base and the high sensitivity of early-stage test mining to fluctuating precious metal spot prices.
The inability to maintain consistent positive gross margins suggests that the current cost of extraction and processing frequently exceeds the value of recovered material. This volatility implies that the company has yet to achieve the economies of scale necessary to absorb fixed site maintenance and overhead costs.
According to recent SEC filings, SG&A expenses have remained persistently elevated, often exceeding $6M to $10M per quarter, which significantly outpaces the company's sporadic revenue generation and highlights the substantial corporate overhead required to manage a fragmented, multi-jurisdictional portfolio of early-stage mining assets.
The persistent gap between SG&A spending and revenue suggests a high fixed-cost burden that may continue to pressure the bottom line until commercial production commences. Management's expense discipline appears constrained by the necessity of maintaining administrative and technical teams across three distinct countries simultaneously.
As indicated by the historical income statement data, the company's reliance on non-operating items to bolster net income in certain quarters masks a core operational cash burn, which warrants further investigation into the sustainability of its current capital structure and potential for future equity dilution.
Short-sellers would likely focus on the disconnect between the company's massive land position and its inability to generate consistent operating cash flow. The reliance on non-operating gains to achieve profitability in specific periods suggests that the underlying business model remains vulnerable to liquidity shocks if development timelines slip.
Quick answers to the most common questions about buying ODV stock.
For fiscal year 2025, Osisko Development Corp. (ODV) reported total revenue of $35.4M.
Osisko Development Corp. (ODV) reported a net loss of $168.9M for the fiscal year ending 2025.
Osisko Development Corp. (ODV) reported an operating income of $-53.6M, resulting in an operating profit margin of -151.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Osisko Development Corp. (ODV) generated $-25.2M in gross profit for the year, representing a gross profit margin of -71.1%. This demonstrates the company's core pricing power and production efficiency.