Executive Summary
Integrated Ventures Inc (INTV) reported QQ1 2025 results that reflect a continuation of revenue stability at a very small scale relative to historical crypto-mining activity, but with a substantial deterioration in profitability and a tightening liquidity position. Revenue is reported at 1,148 (interpreted as 1.148 million in the reported unit framework), with gross profit of 760 (0.760 million) and a gross margin of approximately 66.2%. Despite this, operating and net losses widened dramatically, driven by high operating expenses (1,174,062) and other expenses (838,848), yielding an EBITDA of -746,486 and an operating income of -1,173,302. Net income declined to -1,216,047, with EPS of -0.24. Free cash flow remained negative, at -247,127, and net cash from operating activities was -244,885, underscoring ongoing cash-burn risk.
On the balance sheet, total assets are reported around 3.44 billion (interpreted in the dataset as USD thousands), while total liabilities are higher at approximately 3.84 billion, resulting in an anomalously negative stockholders’ equity figure (-4.83 billion). The company maintains cash and cash equivalents of about 0.75 million at quarter-end, and a net debt position reported as negative (-143,459), reflecting some cash on hand relative to reported debt. The liquidity proxies (current ratio ~0.47, quick ratio ~0.47, cash ratio ~0.20) indicate Material working-capital constraints. The quarter also showed management-level decisions such as a modest share repurchase (100,000 shares), which, in the face of losses, signals an attempt to support equity perception but may not address the underlying cash-burn dynamics.
Overall, the QQ1 2025 results point to a business facing structural profitability and liquidity challenges in a cyclical, capital-intensive space tied to crypto-mining economics. The near-term outlook hinges on crypto-market volatility, energy costs, and the company’s ability to manage costs, improve operating efficiency, and deploy capital in a manner that stabilizes cash flows.