Logo

ODV

Osisko Development Corp.

ODV

Osisko Development Corp. • NYSE
$3.53 ▲ 4.13% (+0.14)
Market Cap $516.57 M
52w High $3.89
52w Low $1.16
Dividend Yield 0%
P/E -3.04
Volume 1.26M
Outstanding Shares 146.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.409M ▼ $43.863M ▲ $-150.282M ▼ -3.409K% ▼ $-1.1 ▼ $-148.79M ▼
Q2-2025 $6.859M ▲ $21.277M ▼ $-47.404M ▼ -691.121% ▼ $-0.35 ▼ $-40.287M ▼
Q1-2025 $0 $42.725M ▲ $-37.33M ▼ 0% $-0.27 ▼ $-30.859M ▼
Q4-2024 $0 ▼ $23.487M ▲ $-15.811M ▲ 0% ▲ $-0.17 ▲ $-9.414M ▲
Q3-2024 $161K $15.624M $-33.864M -21.034K% $-0.4 $-26.14M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $401.351M ▲ $1.163B ▲ $616.831M ▲ $546.668M ▲
Q2-2025 $46.298M ▼ $783.738M ▼ $298.905M ▲ $484.833M ▼
Q1-2025 $77.597M ▼ $816.756M ▼ $284.415M ▼ $532.341M ▼
Q4-2024 $106.653M ▲ $856.902M ▲ $286.273M ▲ $570.629M ▲
Q3-2024 $40.813M $767.032M $238.164M $528.868M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-150.282M ▼ $-3.846M ▲ $-8.481M ▲ $369.363M ▲ $355.053M ▲ $-15.039M ▲
Q2-2025 $-47.404M ▼ $-20.585M ▼ $-13.262M ▲ $-807K ▲ $-31.299M ▼ $-33.847M ▼
Q1-2025 $-37.33M ▼ $-12.504M ▲ $-14.443M ▼ $-1.945M ▼ $-29.056M ▼ $-27.837M ▲
Q4-2024 $-15.811M ▲ $-17.735M ▼ $-6.549M ▲ $86.021M ▲ $65.84M ▲ $-29.329M ▼
Q3-2024 $-33.864M $-12.261M $-12.274M $31.879M $7.133M $-23.049M

Five-Year Company Overview

Income Statement

Income Statement Osisko Development’s income statement looks like that of an early‑stage developer rather than an operating miner. Revenue is still very small, so the company is effectively pre-production from a financial standpoint. Operating losses and net losses have been consistent over the years as the business spends on people, studies, and project work without yet having producing mines to offset these costs. There are some signs that losses may be narrowing recently, but overall the profile is one of ongoing spending in anticipation of future production rather than current profitability.

Balance Sheet

Balance Sheet The balance sheet shows a development company with a sizeable asset base tied up in projects and properties, funded mainly by shareholder equity and only a modest amount of debt. Cash levels move around but have not been especially high, which means liquidity needs careful management as projects advance. Equity has been slowly eroded by repeated losses, but still represents the main source of funding, suggesting the company has so far relied more on issuing shares than on borrowing heavily. Overall, financial leverage is relatively low, but the company’s capacity to fund large capital programs will depend on future financing deals.

Cash Flow

Cash Flow Cash flow is clearly negative from day‑to‑day operations, which is typical for a company still building rather than producing mines. Free cash flow is even more negative because of ongoing investment in exploration, studies, and mine development. Capital spending has been meaningful and steady, confirming that cash is being directed into growing the asset base rather than returning money to shareholders. This pattern implies a continuing need to raise external funds until key projects start generating cash on their own, and timing mismatches between spending and incoming financing are a key risk.

Competitive Edge

Competitive Edge Competitively, Osisko Development stands out more for its project pipeline and positioning than for current production metrics. The fully permitted, construction‑ready Cariboo project in Canada is a major advantage, as permitting is often the biggest bottleneck in mining. A focus on revitalizing historic mining camps gives it access to infrastructure, data, and local knowledge that new, “from scratch” projects lack. The leadership team brings experience in building large Canadian mines, which can help with execution. On the other hand, until projects are built and producing at scale, much of this competitive edge remains potential rather than proven, and the company still faces the usual mining risks: commodity prices, construction performance, and community and environmental expectations.

Innovation and R&D

Innovation and R&D Innovation at Osisko Development is centered on how it mines and processes ore rather than on traditional lab-heavy R&D. The ore-sorting technology at Cariboo aims to upgrade ore before milling, which could cut waste, lower energy and water use, and improve operating margins if it performs as expected at scale. A highly mechanized underground design and modern exploration methods may improve safety, productivity, and resource conversion relative to older approaches. The company also emphasizes lower-impact, hydro-powered operations and broader ESG practices, which can help with community and investor support. The key uncertainty is execution: innovative flowsheets and mine designs often require time and capital to prove themselves in full commercial conditions.

Summary

Overall, Osisko Development looks like a classic high-upfront-investment, future-oriented gold developer: limited current revenue, steady losses, persistent negative cash flow, and heavy spending on a handful of flagship projects. The financials show that it is still firmly in the build-out phase and reliant on external funding, while the project and technology story suggests meaningful upside if execution goes well and gold prices remain supportive. Its strengths lie in a permitted, large Canadian gold project, a strategy focused on brownfield districts, and the use of modern mining and processing technology. Key risks include financing needs, construction and ramp-up execution, technology scale-up, and exposure to commodity price swings. Anyone assessing the company would need to weigh the appeal of its project pipeline and innovation against the realities of early-stage mining economics and the long road to stable, self-funded operations.

NEWS

November 24, 2025 · 7:20 AM UTC

Osisko Development Announces Agreement to Divest Non-Core San Antonio Gold Project

Read more

November 10, 2025 · 7:00 AM UTC

Osisko Development Reports Third Quarter 2025 Results

Read more

November 3, 2025 · 7:30 AM UTC

Osisko Development Strengthens Technical Team With Appointment of Vice President, Exploration

Read more

October 29, 2025 · 8:32 AM UTC

Osisko Development Closes C$82.5 Million Private Placement

Read more

October 27, 2025 · 8:00 AM UTC

Osisko Development Files Early Warning Report Regarding Falco Resources Ltd.

Read more