Ivanhoe Electric Inc

For the period ended Sep 30, 2024. Filed Nov 8, 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.

Sep 30, 2024 · Filed Nov 8, 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 EndedSeptember 30,		Nine months endedSeptember 30,
	2024	2023	2024	2023
Revenue	$671	$239	$1,569	$2,232
Cost of sales	(256)	(275)	(548)	(1,715)
Gross profit	415	(36)	1,021	517
Operating expenses:
Exploration expenses	30,459	34,208	111,356	93,318
General and administrative expenses	10,859	11,445	34,154	34,736
Research and development expenses	871	1,247	2,523	5,228
Selling and marketing expenses	55	36	244	181
Loss from operations	41,829	46,972	147,256	132,946
Other expenses (income):
Interest expense, net	972	1,717	1,324	2,398
Foreign exchange loss (gain)	(133)	62	554	(1,411)
Loss (gain) on revaluation of investments	97	(44)	799	(990)
Share of loss of equity method investees	4,260	34,216	8,725	35,444
Other expense (income), net	99	337	108	(1,500)
Loss before income taxes	47,124	83,260	158,766	166,887
Income tax recovery	—	—	(26)	(200)
Net loss	47,124	83,260	158,740	166,687
Less loss attributable to non-controlling interests	(3,888)	(5,380)	(13,210)	(14,470)
Net loss attributable to common stockholders or parent	43,236	77,880	145,530	152,217
Net loss	47,124	83,260	158,740	166,687
Other comprehensive loss , net of tax:
Foreign currency translation adjustments	(133)	(154)	210	1,185
Other comprehensive loss (income)	(133)	(154)	210	1,185
Comprehensive loss	$46,991	$83,106	$158,950	$167,872
Comprehensive loss attributable to:
Common stockholders or parent	43,095	77,766	145,877	152,972
Non-controlling interests	3,896	$5,340	13,073	$14,900
	$46,991	$83,106	$158,950	$167,872
Net loss per share attributable to common stockholders
Basic and diluted	$0.36	$0.74	$1.21	$1.57
Weighted-average common shares outstanding
Basic and diluted	120,406,215	104,866,006	120,330,374	97,028,679

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 September 30, 2024 · Shares · Amount
Balance at July 1, 2024	120,388,601	$12	$795,502	$(503,798)	$(2,561)	$13,969	$303,124
Net loss	—	—	—	(43,236)	—	(3,888)	(47,124)
Other comprehensive income (loss)	—	—	—	—	141	(8)	133
Stock options exercised	54,131	—	135	—	—	—	135
Stock-based compensation	—	—	3,947	—	—	81	4,028
Other changes in non-controlling interests	—	—	(68)	—	—	23	(45)
Balance at September 30, 2024	120,442,732	$12	$799,516	$(547,034)	$(2,420)	$10,177	$260,251
Balance at January 1, 2024	120,025,264	$12	$777,816	$(401,504)	$(2,073)	$2,030	$376,281
Net loss	—	—	—	(145,530)	—	(13,210)	(158,740)
Other comprehensive loss (income)	—	—	—	—	(347)	137	(210)
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	136,318	—	829	—	—	—	829
Stock-based compensation	—	—	11,231	—	—	211	11,442
Non-controlling interests investment in subsidiary	—	—	9,387	—	—	20,992	30,379
Other changes in non-controlling interests	—	—	(794)	—	—	17	(777)
Balance at September 30, 2024	120,442,732	$12	$799,516	$(547,034)	$(2,420)	$10,177	$260,251

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 September 30, 2023 · Shares · Amount
Balance at July 1, 2023	93,463,764	$9		$439,442		$(276,465)		$(2,058)		$5,820		$166,748
Net loss	—	—		—		(77,880)		—		(5,380)		(83,260)
Other comprehensive income	—	—		—		—		114		40		154
Issuance of common stock; strategic investment, net of issuance costs	10,269,604		1		123,670		—		—		—		123,671
Issuance of common stock; public offering, net of issuance costs	13,629,629		2		175,540		—		—		—		175,542
Stock options exercised	156,118	—		389		—		—		—		389
Stock-based compensation	—	—		5,581		—		—		70		5,651
Other changes in non-controlling interests	—	—		(144)		—		—		41		(103)
Balance at September 30, 2023	117,519,115	$12		$744,478		$(354,345)		$(1,944)		$591		$388,792
Balance at January 1, 2023	92,960,584	$9		$409,683		$(202,128)		$(1,189)		$(3,928)		$202,447
Net loss	—	—		—		(152,217)		—		(14,470)		(166,687)
Other comprehensive loss	—	—		—		—		(755)		(430)		(1,185)
Issuance of common stock; strategic investment, net of issuance costs	10,269,604		1		123,670		—		—		—		123,671
Issuance of common stock; public offering, net of issuance costs	13,629,629		2		175,540		—		—		—		175,542
Issuance of common stock; earn-in payment	10,281	—		150		—		—		—		150
Stock options exercised	637,027		—		1,586		—		—		—		1,586
Stock-based compensation	—	—		16,013		—		—		201		16,214
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	—	—		(143)		—		—		44		(99)
Balance at September 30, 2023	117,519,115	$12		$744,478		$(354,345)		$(1,944)		$591		$388,792

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