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Side-by-side financial comparison of i-80 Gold Corp. (IAUX) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $21.3M, roughly 1.2× i-80 Gold Corp.). KKR Real Estate Finance Trust Inc. runs the higher net margin — -101.7% vs -401.9%, a 300.1% gap on every dollar of revenue.
i-80 Gold Corp is a mineral exploration and development firm focused on gold and silver asset operations in Nevada, US. It advances high-potential mining projects, using responsible extraction practices to deliver precious metals to global industrial and investment markets.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
IAUX vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $25.8M |
| Net Profit | $-85.6M | $-26.2M |
| Gross Margin | 22.0% | — |
| Operating Margin | -291.6% | -105.1% |
| Net Margin | -401.9% | -101.7% |
| Revenue YoY | — | -26.6% |
| Net Profit YoY | — | -229.6% |
| EPS (diluted) | $-0.10 | $-0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $21.3M | $25.8M | ||
| Q3 25 | $32.0M | $25.3M | ||
| Q2 25 | $27.8M | $30.2M | ||
| Q1 25 | $14.0M | $31.3M | ||
| Q4 24 | — | $35.1M | ||
| Q3 24 | $11.5M | $37.0M | ||
| Q2 24 | $7.2M | $40.4M | ||
| Q1 24 | — | $39.1M |
| Q4 25 | $-85.6M | $-26.2M | ||
| Q3 25 | $-41.9M | $13.8M | ||
| Q2 25 | $-30.2M | $-29.7M | ||
| Q1 25 | $-41.2M | $-4.9M | ||
| Q4 24 | — | $20.3M | ||
| Q3 24 | $-43.1M | $-7.4M | ||
| Q2 24 | $-41.0M | $25.8M | ||
| Q1 24 | — | $-3.1M |
| Q4 25 | 22.0% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -42.7% | — | ||
| Q2 24 | -171.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | -291.6% | -105.1% | ||
| Q3 25 | -86.7% | 50.4% | ||
| Q2 25 | -67.4% | -101.3% | ||
| Q1 25 | -112.3% | -18.3% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | -210.0% | -19.6% | ||
| Q2 24 | -435.2% | 63.3% | ||
| Q1 24 | — | -8.7% |
| Q4 25 | -401.9% | -101.7% | ||
| Q3 25 | -130.8% | 54.4% | ||
| Q2 25 | -108.5% | -98.5% | ||
| Q1 25 | -293.3% | -15.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -374.5% | -20.0% | ||
| Q2 24 | -570.8% | 63.9% | ||
| Q1 24 | — | -7.9% |
| Q4 25 | $-0.10 | $-0.49 | ||
| Q3 25 | $-0.05 | $0.12 | ||
| Q2 25 | $-0.05 | $-0.53 | ||
| Q1 25 | $-0.10 | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | $-0.11 | $-0.19 | ||
| Q2 24 | $-0.11 | $0.29 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.2M | $84.6M |
| Total DebtLower is stronger | $174.7M | — |
| Stockholders' EquityBook value | $346.8M | $1.2B |
| Total Assets | $703.4M | $6.5B |
| Debt / EquityLower = less leverage | 0.50× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.2M | $84.6M | ||
| Q3 25 | $102.9M | $204.1M | ||
| Q2 25 | $133.7M | $107.7M | ||
| Q1 25 | $13.5M | $106.4M | ||
| Q4 24 | — | $104.9M | ||
| Q3 24 | $21.8M | $108.8M | ||
| Q2 24 | $47.8M | $107.2M | ||
| Q1 24 | — | $106.5M |
| Q4 25 | $174.7M | — | ||
| Q3 25 | $175.9M | — | ||
| Q2 25 | $175.8M | — | ||
| Q1 25 | $197.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $346.8M | $1.2B | ||
| Q3 25 | $423.0M | $1.2B | ||
| Q2 25 | $463.5M | $1.2B | ||
| Q1 25 | $318.0M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $346.9M | $1.4B | ||
| Q2 24 | $377.2M | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $703.4M | $6.5B | ||
| Q3 25 | $756.2M | $6.5B | ||
| Q2 25 | $782.9M | $6.8B | ||
| Q1 25 | $659.0M | $6.6B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.8B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.3B |
| Q4 25 | 0.50× | — | ||
| Q3 25 | 0.42× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-34.3M | $72.3M |
| Free Cash FlowOCF − Capex | $-39.2M | — |
| FCF MarginFCF / Revenue | -184.3% | — |
| Capex IntensityCapex / Revenue | 23.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.3M | $72.3M | ||
| Q3 25 | $-15.2M | $18.5M | ||
| Q2 25 | $-11.3M | $21.1M | ||
| Q1 25 | $-22.7M | $15.9M | ||
| Q4 24 | — | $132.6M | ||
| Q3 24 | $-23.5M | $49.1M | ||
| Q2 24 | $-24.6M | $30.6M | ||
| Q1 24 | — | $34.5M |
| Q4 25 | $-39.2M | — | ||
| Q3 25 | $-18.5M | — | ||
| Q2 25 | $-12.4M | — | ||
| Q1 25 | $-23.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-23.8M | — | ||
| Q2 24 | $-25.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | -184.3% | — | ||
| Q3 25 | -57.8% | — | ||
| Q2 25 | -44.7% | — | ||
| Q1 25 | -164.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -206.7% | — | ||
| Q2 24 | -349.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | 23.1% | — | ||
| Q3 25 | 10.2% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 7.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IAUX
| Granite Creek Mining Company | $20.3M | 95% |
| Ruby Hill Mining Company LLC | $991.0K | 5% |
| Lone Tree Minning Company | $3.0K | 0% |
KREF
Segment breakdown not available.
