Idaho Strategic Resources (IDR) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue increased 54.7% year-over-year to $9.48M, driven by higher gold prices, production, and exploration activity.

• Net income for Q2 2025 rose 28.3% to $2.77M, despite higher exploration and stock-based compensation expenses.

• Completed 5,819 meters of drilling across multiple projects, advancing gold and rare earth element portfolios.

• Operational improvements at Golden Chest Mine and New Jersey Mill increased efficiency and output.

• Reinvested significant cash flow into exploration and construction, supporting long-term asset growth.

Financial highlights

• Q2 2025 revenue: $9.48M (Q2 2024: $6.13M); H1 2025 revenue: $16.76M (H1 2024: $12.02M).

• Q2 2025 net income: $2.74M (Q2 2024: $2.13M); H1 2025 net income: $4.33M (H1 2024: $4.29M).

• Gross profit rose 78.17% to $5.48M in Q2 2025; gross margin for Q2 2025 was 57.8%, up from 50.2%.

• Operating income for Q2 2025 was $2.52M, up 20.1% year-over-year; H1 2025 operating income was $3.92M, down 7.5%.

• Total assets increased to $57.7M as of June 30, 2025, from $44.0M at year-end 2024.

Outlook and guidance

• Management expects continued exploration spending and reinvestment in drilling through 2025.

• Cash flows from operations and existing cash are expected to be sufficient for planned operations and obligations over the next 12 months.

• Forward-looking statements highlight potential benefits from the new tailings filtration system and ongoing construction at Golden Chest.