i-80 Gold Corp. Reports $32M Revenue and Improved Gross Profit in Latest Quarter

i-80 Gold Corp. reported significant financial growth in its latest quarterly filing, with revenues reaching $32.0 million for the three months ended September 30, 2025, compared to $11.5 million in the same period last year. This increase was primarily driven by a rise in gold sales, which totaled 9,368 ounces at an average realized price of $3,412 per ounce, up from 4,740 ounces at $2,441 per ounce in the prior year. The company also achieved a gross profit of $3.1 million, a notable improvement from a gross loss of $4.9 million in the previous year, reflecting enhanced operational efficiencies at its Granite Creek project.

In terms of profitability, i-80 Gold reported a net loss of $41.9 million for the quarter, a slight decrease from a loss of $43.1 million in the same quarter of 2024. The reduction in net loss was attributed to higher gross profits, although it was offset by increased pre-development and exploration expenses as the company advanced its projects. The loss per share improved to $0.05 from $0.11 year-over-year, aided by an increase in the number of outstanding shares following a successful equity raise in May 2025.

Operationally, the company has made strides in its development plans, completing approximately 53,000 feet of core drilling and receiving all necessary permits to commence construction on the upper level of the Archimedes project, which is set to become its second underground mine. The company is also on track to complete technical reports for its underground projects and the refurbishment of the Lone Tree processing plant, which is expected to serve as a central hub for processing material from its various mining operations.

i-80 Gold's total assets increased to $756.2 million as of September 30, 2025, up from $655.6 million at the end of 2024, largely due to a significant rise in cash and cash equivalents, which reached $102.9 million. The company’s liabilities also rose to $333.2 million, primarily due to increases in other liabilities related to its Gold Prepay and Silver Purchase Agreements. The company is actively pursuing additional financing options to support its development plan, which includes a recapitalization strategy aimed at strengthening its balance sheet and funding ongoing projects.

Looking ahead, i-80 Gold expects to extract between 30,000 to 40,000 ounces of gold in 2025, with the Granite Creek underground project anticipated to contribute significantly to this target. The company is focused on advancing its multi-phase development plan, which aims to establish it as a mid-tier gold producer in Nevada, with a long-term goal of achieving annual gold output exceeding 600,000 ounces by the early 2030s.