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Side-by-side financial comparison of i-80 Gold Corp. (IAUX) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
i-80 Gold Corp. is the larger business by last-quarter revenue ($21.3M vs $18.6M, roughly 1.1× Zeo Energy Corp.). Zeo Energy Corp. runs the higher net margin — -10.8% vs -401.9%, a 391.1% gap on every dollar of revenue. Zeo Energy Corp. produced more free cash flow last quarter ($2.3M vs $-39.2M).
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.
IAUX vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $18.6M |
| Net Profit | $-85.6M | $-2.0M |
| Gross Margin | 22.0% | — |
| Operating Margin | -291.6% | -11.8% |
| Net Margin | -401.9% | -10.8% |
| Revenue YoY | — | -0.4% |
| Net Profit YoY | — | -360.9% |
| EPS (diluted) | $-0.10 | — |
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 | $18.6M | ||
| Q3 25 | $32.0M | $23.9M | ||
| Q2 25 | $27.8M | $18.1M | ||
| Q1 25 | $14.0M | $8.8M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | $11.5M | $19.7M | ||
| Q2 24 | $7.2M | $14.8M | ||
| Q1 24 | — | $20.1M |
| Q4 25 | $-85.6M | $-2.0M | ||
| Q3 25 | $-41.9M | $-3.2M | ||
| Q2 25 | $-30.2M | $-2.4M | ||
| Q1 25 | $-41.2M | $-6.4M | ||
| Q4 24 | — | $-435.3K | ||
| Q3 24 | $-43.1M | $-424.3K | ||
| Q2 24 | $-41.0M | $-277.8K | ||
| Q1 24 | — | $-1.5M |
| Q4 25 | 22.0% | — | ||
| Q3 25 | 9.7% | 57.9% | ||
| Q2 25 | 2.9% | 59.8% | ||
| Q1 25 | 20.7% | 99.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | -42.7% | 50.2% | ||
| Q2 24 | -171.4% | 52.3% | ||
| Q1 24 | — | — |
| Q4 25 | -291.6% | -11.8% | ||
| Q3 25 | -86.7% | -8.3% | ||
| Q2 25 | -67.4% | -15.8% | ||
| Q1 25 | -112.3% | -153.8% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | -210.0% | -15.2% | ||
| Q2 24 | -435.2% | -18.0% | ||
| Q1 24 | — | -20.1% |
| Q4 25 | -401.9% | -10.8% | ||
| Q3 25 | -130.8% | -13.5% | ||
| Q2 25 | -108.5% | -13.3% | ||
| Q1 25 | -293.3% | -72.4% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | -374.5% | -2.2% | ||
| Q2 24 | -570.8% | -1.9% | ||
| Q1 24 | — | -7.6% |
| Q4 25 | $-0.10 | — | ||
| Q3 25 | $-0.05 | — | ||
| Q2 25 | $-0.05 | — | ||
| Q1 25 | $-0.10 | $-0.48 | ||
| Q4 24 | — | $1.11 | ||
| Q3 24 | $-0.11 | $-0.08 | ||
| Q2 24 | $-0.11 | $0.03 | ||
| Q1 24 | — | $-1.54 |
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 | $6.1M |
| Total DebtLower is stronger | $174.7M | $79.1K |
| Stockholders' EquityBook value | $346.8M | $5.3M |
| Total Assets | $703.4M | $56.9M |
| Debt / EquityLower = less leverage | 0.50× | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.2M | $6.1M | ||
| Q3 25 | $102.9M | $3.9M | ||
| Q2 25 | $133.7M | $68.7K | ||
| Q1 25 | $13.5M | $2.9M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $21.8M | $4.3M | ||
| Q2 24 | $47.8M | $5.3M | ||
| Q1 24 | — | — |
| Q4 25 | $174.7M | $79.1K | ||
| Q3 25 | $175.9M | $84.6K | ||
| Q2 25 | $175.8M | $642.8K | ||
| Q1 25 | $197.5M | $715.4K | ||
| Q4 24 | — | $787.7K | ||
| Q3 24 | — | $858.6K | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $748.8K |
| Q4 25 | $346.8M | $5.3M | ||
| Q3 25 | $423.0M | $-1.7M | ||
| Q2 25 | $463.5M | $-59.4M | ||
| Q1 25 | $318.0M | $-23.1M | ||
| Q4 24 | — | $-88.9M | ||
| Q3 24 | $346.9M | $-39.3M | ||
| Q2 24 | $377.2M | $-53.0M | ||
| Q1 24 | — | $-173.0M |
| Q4 25 | $703.4M | $56.9M | ||
| Q3 25 | $756.2M | $58.5M | ||
| Q2 25 | $782.9M | $46.2M | ||
| Q1 25 | $659.0M | $47.4M | ||
| Q4 24 | — | $61.0M | ||
| Q3 24 | — | $47.1M | ||
| Q2 24 | — | $49.1M | ||
| Q1 24 | — | $50.1M |
| Q4 25 | 0.50× | 0.01× | ||
| 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 | $2.4M |
| Free Cash FlowOCF − Capex | $-39.2M | $2.3M |
| FCF MarginFCF / Revenue | -184.3% | 12.2% |
| Capex IntensityCapex / Revenue | 23.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.3M | $2.4M | ||
| Q3 25 | $-15.2M | $-6.6M | ||
| Q2 25 | $-11.3M | $-2.3M | ||
| Q1 25 | $-22.7M | $-2.3M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | $-23.5M | $162.2K | ||
| Q2 24 | $-24.6M | $-2.2M | ||
| Q1 24 | — | $-10.2M |
| Q4 25 | $-39.2M | $2.3M | ||
| Q3 25 | $-18.5M | $-6.8M | ||
| Q2 25 | $-12.4M | $-2.7M | ||
| Q1 25 | $-23.1M | $-2.6M | ||
| Q4 24 | — | $3.4M | ||
| Q3 24 | $-23.8M | $116.5K | ||
| Q2 24 | $-25.1M | $-2.3M | ||
| Q1 24 | — | $-10.4M |
| Q4 25 | -184.3% | 12.2% | ||
| Q3 25 | -57.8% | -28.6% | ||
| Q2 25 | -44.7% | -15.0% | ||
| Q1 25 | -164.1% | -30.0% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | -206.7% | 0.6% | ||
| Q2 24 | -349.1% | -15.6% | ||
| Q1 24 | — | -51.5% |
| Q4 25 | 23.1% | 0.9% | ||
| Q3 25 | 10.2% | 1.0% | ||
| Q2 25 | 3.9% | 2.4% | ||
| Q1 25 | 2.5% | 4.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 2.5% | 0.2% | ||
| Q2 24 | 7.3% | 0.7% | ||
| Q1 24 | — | 1.1% |
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% |
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
