Ivanhoe Electric Inc

For the period ended Jun 30, 2024. Filed Aug 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 7, 2024

IE$7.66-7.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited)

(Expressed in thousands of U.S. dollars, except for share and per share amounts)

	Three Months EndedJune 30,		Six months endedJune 30,
	2024	2023	2024	2023
Revenue	$538	$1,314	$898	$1,993
Cost of sales	(192)	(1,256)	(292)	(1,440)
Gross profit	346	58	606	553
Operating expenses:
Exploration expenses	37,254	32,551	80,897	59,110
General and administrative expenses	10,694	12,658	23,295	23,291
Research and development expenses	842	2,138	1,652	3,981
Selling and marketing expenses	102	96	189	145
Loss from operations	48,546	47,385	105,427	85,974
Other expenses (income):
Interest expense, net	387	713	352	681
Foreign exchange loss (gain)	692	(1,312)	687	(1,473)
Loss (gain) on revaluation of investments	431	(1,321)	702	(946)
Share of loss of equity method investees	1,453	606	4,465	1,228
Other expense (income), net	12	(1,096)	9	(1,837)
Loss before income taxes	51,521	44,975	111,642	83,627
Income tax recovery	—	(128)	(26)	(200)
Net loss	51,521	44,847	111,616	83,427
Less loss attributable to non-controlling interests	(4,738)	(6,584)	(9,322)	(9,090)
Net loss attributable to common stockholders or parent	46,783	38,263	102,294	74,337
Net loss	51,521	44,847	111,616	83,427
Other comprehensive loss , net of tax:
Foreign currency translation adjustments	329	1,271	721	1,339
Other comprehensive loss	329	1,271	721	1,339
Comprehensive loss	$51,850	$46,118	$112,337	$84,766
Comprehensive loss attributable to:
Common stockholders or parent	47,021	39,086	102,782	75,206
Non-controlling interests	4,829	$7,032	9,555	$9,560
	$51,850	$46,118	$112,337	$84,766
Net loss per share attributable to common stockholders
Basic and diluted	$0.39	$0.41	$0.85	$0.80
Weighted-average common shares outstanding
Basic and diluted	120,337,642	93,124,994	120,292,036	93,045,066

Condensed Interim Consolidated Statements of Changes in Equity (Unaudited)

(Expressed in thousands of U.S. dollars, except share amounts)

Additionalpaid-incapital · Accumulateddeficit · Accumulatedothercomprehensiveloss · Non-controllinginterest · Total
	Common Stock
Three months ended June 30, 2024 · Shares · Amount
Balance at April 1, 2024	120,306,414	$12	$790,824	$(457,015)	$(2,323)	$18,234	$349,732
Net loss	—	—	—	(46,783)	—	(4,738)	(51,521)
Other comprehensive loss	—	—	—	—	(238)	(91)	(329)
Stock options exercised	82,187	—	694	—	—	—	694
Stock-based compensation	—	—	3,969	—	—	100	4,069
Non-controlling interests investment in subsidiary	—	—	15	—	—	364	379
Other changes in non-controlling interests	—	—	—	—	—	100	100
Balance at June 30, 2024	120,388,601	$12	$795,502	$(503,798)	$(2,561)	$13,969	$303,124
Balance at January 1, 2024	120,025,264	$12	$777,816	$(401,504)	$(2,073)	$2,030	$376,281
Net loss	—	—	—	(102,294)	—	(9,322)	(111,616)
Other comprehensive loss	—	—	—	—	(488)	(233)	(721)
Issuance of common stock; Kaizen arrangement	116,413	—	952	—	—	—	952
Issuance of common stock; earn-in payment	12,765	—	95	—	—	—	95
Settlement of restricted share units	150,000	—	—	—	—	—	—
Settlement of deferred share units	1,972	—	—	—	—	—	—
Stock options exercised	82,187	—	694	—	—	—	694
Stock-based compensation	—	—	7,284	—	—	130	7,414
Non-controlling interests investment in subsidiary	—	—	9,387	—	—	20,992	30,379
Other changes in non-controlling interests	—	—	(726)	—	—	372	(354)
Balance at June 30, 2024	120,388,601	$12	$795,502	$(503,798)	$(2,561)	$13,969	$303,124

Condensed Interim Consolidated Statements of Changes in Equity (Unaudited)

(Expressed in thousands of U.S. dollars, except share amounts)

Additionalpaid-incapital · Accumulateddeficit · Accumulatedothercomprehensiveloss · Non-controllinginterest · Total
	Common Stock
Three months ended June 30, 2023 · Shares · Amount
Balance at April 1, 2023	92,971,865	$9		$414,897		$(238,202)		$(1,235)		$(6,387)		$169,082
Net loss	—	—		—		(38,263)		—		(6,584)		(44,847)
Other comprehensive loss	—	—		—		—		(823)		(448)		(1,271)
Stock options exercised	479,909	—		1,194		—		—		—		1,194
Stock-based compensation	—	—		5,365		—		—		66		5,431
Settlement of deferred share units	11,990	—		—		—		—		—		—
Non-controlling interests investment in subsidiary	—	—		17,979		—		—		19,174		37,153
Other changes in non-controlling interests	—	—		7		—		—		(1)		6
Balance at June 30, 2023	93,463,764	$9		$439,442		$(276,465)		$(2,058)		$5,820		$166,748
Balance at January 1, 2023	92,960,584	$9		$409,683		$(202,128)		$(1,189)		$(3,928)		$202,447
Net loss	—	—		—		(74,337)		—		(9,090)		(83,427)
Other comprehensive loss	—	—		—		—		(869)		(470)		(1,339)
Issuance of common stock; earn-in payment	10,281	—		150		—		—		—		150
Stock options exercised	480,909		—		1,197		—		—		—		1,197
Stock-based compensation	—	—		10,432		—		—		131		10,563
Settlement of deferred share units	11,990	—		—		—		—		—		—
Non-controlling interests investment in subsidiary	—	—		17,979		—		—		19,174		37,153
Other changes in non-controlling interests	—	—		1		—		—		3		4
Balance at June 30, 2023	93,463,764	$9		$439,442		$(276,465)		$(2,058)		$5,820		$166,748

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.