The company continues to operate without revenue, with recurring administrative expenses and stock-based compensation, such as the $446.4K recorded in 2025Q2, driving persistent net losses.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | May'10 | May'09 | May'08 | May'07 | May'06 | May'05 | May'04 | May'03 | May'02 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105 | 105 | 3.32K | 5.12K |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -100% | 0% | -96.83% | -35.18% | - |
| Cost of Goods Sold | 33.9K | 0 | 135.18K | 0 | 0 | 367 | 7.6K | 2.32K | 3.04K | 0 | 0 | 7.05K | 0 | 0 | 0 | 21.83K | 453 | 110.27K | 49.82K | 46.3K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -33.9K | 0 | -135.18K | 0 | -135.2K | -367 | -7.6K | -2.32K | -3.04K | -4.01K | -5.28K | -7.05K | -15.78K | -21.8K | -31.66K | -21.83K | -453 | -110.27K | 0 | 0 | 0 | 105 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100% | - | - | - |
| Gross Profit Growth % | - | 100% | - | 100% | -36739.24% | 95.17% | -228.24% | 23.89% | 24.04% | 24.17% | 25.03% | 55.34% | 27.62% | 31.14% | -45.03% | -4718.98% | 99.59% | - | - | - | -100% | - | - | - | - |
| Operating Expenses | 4M | 4.53M | 241.06K | 3.28M | 3.23M | 5.92M | 4.41M | 3.65M | 4.65M | 6.11M | 6.11M | 6.16M | 8.36M | 18.15M | 55.26M | 46.1M | 14.91M | 6.61M | 3.25M | 8.34M | 115.87K | 116.06K | 69.36K | 47.36K | 74.96K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 110335.47% | 65941.94% | 1428.2% | 1465.21% |
| Selling, General & Admin | 2.33M | 2.63M | 241.06K | 3.28M | 2.29M | 2.38M | 2.02M | 1.94M | 3.27M | 6.31M | 6.02M | 6.16M | 8.06M | 9.91M | 19.23M | 13.53M | 14.88M | 6.56M | 3.2M | 8.3M | 115.87K | 116.06K | 80.02K | 69.36K | 0 |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 110335.47% | 76071.13% | 2091.83% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.67M | 1.9M | 0 | 0 | 943.02K | 3.53M | 2.38M | 1.7M | 34.83K | 22.2K | 40.49K | 22.39K | 0 | 8.24M | 36.04M | 32.58M | 26.99K | 50.09K | 46.27K | 31.46K | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -4.03M | -4.53M | -3.57M | -3.28M | -3.23M | -5.65M | -4.2M | -3.47M | -4.65M | -5.86M | -5.87M | -6.16M | -8.06M | -17.63M | -55.81M | -48.35M | -12.78M | -4.35M | -3.25M | -8.34M | -115.87K | -115.96K | -115.96K | -179.34K | -42.24K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -110235.65% | -110235.65% | -5408.23% | -825.68% |
| Operating Income Growth % | - | -26.85% | -8.84% | -1.4% | 42.77% | -34.57% | -21.13% | 25.43% | 20.65% | 0.25% | 4.6% | 23.56% | 54.29% | 68.42% | -15.42% | -278.38% | -193.8% | -33.91% | 61.03% | -7093.86% | 0.08% | 0% | 35.34% | -324.55% | - |
| EBITDA | -4.03M | -4.53M | 16.85K | 16.07K | -3.23M | -5.65M | -4.19M | -3.47M | -4.65M | -5.86M | -5.87M | -6.15M | -8.04M | -17.6M | -55.77M | -48.33M | -12.75M | -4.3M | -3.2M | -8.3M | -8.07M | -135.11K | -115.96K | -66.05K | -42.24K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -128438.72% | -110235.65% | -1991.8% | -825.68% |
| EBITDA Growth % | -7.85% | -26981.63% | 4.83% | 100.5% | 42.78% | -34.82% | -20.99% | 25.43% | 20.64% | 0.23% | 4.57% | 23.5% | 54.33% | 68.44% | -15.41% | -279.01% | -196.59% | -34.28% | 61.44% | -2.84% | -5876.37% | -16.51% | -75.57% | -56.36% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 3.59M | 3.3M | 367 | 367 | 8K | 2.37K | 2.89K | 4.15K | 5.22K | 7.05K | 15.78K | 21.8K | 31.66K | 21.83K | 26.99K | 50.09K | 46.27K | 31.46K | 0 | -19.15K | 0 | 0 | 0 |
| EBIT | -4.03M | -4.53M | -3.43M | -3.46M | -2.92M | -5.67M | -4.23M | -3.48M | -4.67M | -6.66M | -7.1M | -5.38M | -8M | -9.55M | -56.87M | -18.59M | -14.8M | -17.03M | -8.92M | -2.44M | -8.11M | -115.56K | -115.96K | -66.05K | -42.24K |
| Net Interest Income | 689.25K | 73.75K | 79.91K | 98.91K | -2.67M | 20.08K | 80.39K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25.14K |
| Interest Income | 689.25K | 73.75K | 79.91K | 98.91K | 5.74K | 20.08K | 80.39K | 164.53K | 119.11K | 27.39K | 17.49K | 43.67K | 56.67K | 103.76K | 183.25K | 592.04K | 110.83K | 115.97K | 0 | 232.44K | 0 | 0 | 0 | 0 | 7.57K |
| Interest Expense | 0 | 0 | 0 | 0 | 2.68M | 0 | 0 | 0 | 119.11K | 27.39K | 17.49K | 43.67K | 56.67K | 103.76K | 183.25K | 592.04K | 110.83K | 115.97K | -207.34K | 0 | 0 | -19.15K | 0 | 0 | 32.71K |
| Other Income/Expense | 2.33M | -109.58K | -29.26K | -117.92K | 193.11K | -327.63K | -318.21K | -358.76K | 458K | -572.22K | -1.32M | 0 | 288.73K | 7.86M | -1.04M | 0 | -2.13M | -2.37M | 0 | 6.48M | -7.99M | 397 | 19.09K | 179.34K | 42.24K |
| Pretax Income | -1.7M | -4.64M | -3.6M | -3.4M | -3.04M | -5.98M | -4.52M | -3.92M | -4.19M | -6.43M | -7.19M | -4.81M | -7.77M | -9.85M | -56.64M | -18.59M | -14.91M | -6.72M | -8.92M | -2.44M | -8.11M | -115.56K | -292.63K | 0 | -140.39K |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -109859.19% | -278185.35% | - | -2744.06% |
| Income Tax | 0 | 0 | 0 | 0 | 2.68M | 0 | 0 | 241.92K | -1.32M | 651.39K | 2.19M | -3.25M | -1.22M | -16.64M | 2.7M | -5.63M | 4.05M | 4.5M | -1.02M | -232.44K | -316 | 0 | -113.29K | -5.12K | -7.2K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | -88.11% | 0% | 0% | -6.18% | 31.43% | -10.13% | -30.51% | 67.58% | 15.66% | 168.94% | -4.76% | 30.3% | -27.13% | -67.03% | 11.45% | 9.54% | 0% | 0% | 38.71% | - | 5.13% |
| Net Income | -1.7M | -4.64M | -3.43M | -3.4M | -3.04M | -5.98M | -4.63M | -4.07M | -4.19M | -6.43M | -7.19M | -4.81M | -7.77M | -9.85M | -56.64M | -43.31M | -16.93M | -8.97M | -2.43M | -8.1M | -115.55K | -96.81K | -96.81K | -179.34K | -42.24K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -92032.57% | -92032.57% | -5408.23% | -825.68% |
| Net Income Growth % | 54.47% | -35.36% | -0.84% | -11.71% | 49.14% | -29.07% | -13.89% | 2.95% | 34.83% | 10.55% | -49.41% | 38.04% | 21.17% | 82.61% | -30.79% | -155.74% | -88.86% | -268.41% | 69.96% | -6912.38% | -19.36% | 0% | 46.02% | -324.55% | - |
| Net Income (Continuing) | -1.7M | -4.64M | -3.43M | -3.4M | -2.92M | -5.98M | -4.76M | 0 | -3.98M | -6.66M | -7.1M | -4.43M | -7.41M | -9.55M | -56.87M | -18.59M | -16.93M | -17.03M | -8.92M | -2.44M | -8.11M | -115.56K | -96.81K | -179.34K | -42.24K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.01 | -0.02 | -0.02 | -0.02 | -0.02 | -0.03 | -0.02 | -0.02 | -0.02 | -0.04 | -0.06 | -0.04 | -0.08 | -0.10 | -0.62 | -0.50 | -0.28 | -0.20 | -0.06 | -0.30 | -0.01 | -0.01 | -0.01 | -0.02 | -0.01 |
| EPS Growth % | 44.62% | -31.98% | 1.15% | -16% | 51.14% | -28.99% | -9.68% | 5.65% | 41.92% | 35.71% | -48.79% | 47.19% | 21.6% | 83.87% | -24% | -78.57% | -40% | -222.06% | 79.3% | - | 14.02% | - | 63.8% | -68.7% | - |
| EPS (Basic) | - | -0.02 | -0.02 | -0.02 | -0.02 | -0.03 | -0.02 | -0.02 | -0.02 | -0.04 | -0.06 | -0.04 | -0.08 | -0.10 | -0.62 | -0.50 | -0.28 | -0.20 | -0.06 | -0.30 | -0.01 | -0.01 | -0.01 | -0.02 | -0.01 |
| Diluted Shares Outstanding | 248.41M | 207.89M | 199.65M | 195.62M | 195.22M | 194.91M | 189.87M | 187.36M | 181.98M | 162.28M | 116.71M | 116.31M | 99.07M | 98.07M | 91.11M | 86.68M | 59.6M | 59.6M | 45.09M | 27.1M | 12.62M | 9.62M | 9.01M | 9.01M | 9.01M |
| Basic Shares Outstanding | 245.79M | 207.89M | 199.65M | 195.62M | 195.22M | 194.91M | 189.87M | 187.36M | 181.98M | 162.28M | 116.71M | 116.31M | 99.07M | 98.07M | 91.11M | 86.68M | 59.6M | 59.6M | 45.09M | 27.1M | 12.62M | 9.62M | 9.01M | 9.01M | 9.01M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Pre-revenue capital dilution risk
As indicated by recent financial disclosures, International Tower Hill Mines continues to incur significant quarterly SG&A expenses, which peaked at $1.4 million in 2024Q2, reflecting the ongoing costs of maintaining the Livengood Gold Project without any offsetting revenue streams to mitigate the operational cash outflow.
The company's cost structure is dominated by fixed administrative and regulatory expenditures required to keep its mineral claims in good standing. This reliance on equity-funded operations suggests that the firm remains highly sensitive to market sentiment, as it lacks the internal cash generation to cover these recurring overhead costs.
Based on reported income statements, the company's net income figures are frequently distorted by non-operating items and stock-based compensation, which reached $446.4K in 2025Q2, highlighting the reliance on equity-based incentives to preserve cash while the project remains in a pre-production, non-revenue generating state.
Investors should monitor the impact of stock-based compensation on the capital structure, as it represents a form of hidden dilution that does not appear in traditional cash burn metrics. The volatility in quarterly net income suggests that the company's financial results are driven more by accounting adjustments than by any meaningful progress toward commercial gold extraction.
According to historical income statement data, the company has consistently failed to generate revenue, and the recurring negative operating margins suggest that the Livengood project's high-volume, low-grade profile may struggle to achieve profitability even under favorable gold price environments without significant technological or cost-structure improvements.
The absence of a clear path to production implies that the company functions primarily as a long-dated, high-beta option on gold prices rather than an operating business. The persistent operating losses warrant further investigation into whether the project's internal rate of return can withstand the inflationary pressures currently impacting mining input costs.
As reported in financial filings, the company exhibits no operating leverage, as the lack of revenue ensures that every dollar of SG&A expense directly increases the net loss, leaving the firm entirely dependent on external financing to sustain its ongoing exploration and regulatory compliance activities.
Without a revenue-generating asset, the company cannot scale its operations to achieve economies of scale, meaning that administrative costs will likely continue to weigh on the balance sheet. This lack of operational efficiency suggests that the company's valuation is decoupled from traditional income statement metrics and is instead driven by the speculative value of its mineral resource.
Quick answers to the most common questions about buying THM stock.
For fiscal year 2025, International Tower Hill Mines Ltd. (THM) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.0M in 2002.
International Tower Hill Mines Ltd. (THM) reported a net loss of $4.6M for the fiscal year ending 2025.