Gulf Resources, Inc. (GURE) Income Statement
GURE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGURE revenue and net income
Where GURE's revenue goes
2025Each bar shows an amount and its share of revenue. GURE kept −172.8% of revenue as net income.
GURE profit margins
GURE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +231.8% | −27.3% | −2.1% | −16.9% |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GURE quarterly EPS vs estimates
Gulf Resources beat the analyst EPS estimate in 0 of the last 2 quarters. Next report: November 18, 2026.
GURE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.4M | $7.7M | $30.0M | $66.1M | $55.0M | $28.2M | $10.6M | $2.6M | $107.5M | $149.3M |
| Cost of revenue | $28.4M | $23.6M | $37.6M | $40.7M | $37.9M | $19.4M | $5.4M | $1.3M | $63.2M | $94.8M |
| Gross profit | −$2.9M | −$16.0M | −$7.6M | $25.4M | $17.2M | $8.8M | $5.2M | $1.3M | $44.4M | $54.5M |
| Research & development | — | — | — | — | — | — | — | $195,195 | $195,195 | $261,931 |
| Sales, general & admin | $5.6M | $5.3M | $4.3M | $6.1M | $9.6M | $10.3M | $13.3M | $11.3M | $8.5M | $5.8M |
| Total operating expenses | $34.0M | $5.3M | $41.9M | $8.9M | $12.0M | $18.5M | $28.5M | $84.8M | $8.7M | $6.8M |
| Operating income | −$8.6M | −$21.3M | −$11.9M | $16.5M | $5.2M | −$9.7M | −$23.3M | −$83.6M | $11.2M | $47.7M |
| Interest income | $427,403 | $80,258 | $250,128 | $286,141 | $295,172 | $291,307 | $446,770 | $661,112 | $556,163 | $487,617 |
| Interest expense | $372,642 | $91,901 | $105,209 | $121,402 | $137,178 | $136,430 | $145,445 | $160,422 | $164,321 | $174,921 |
| Income before taxes | −$43.9M | −$57.3M | −$58.3M | $16.6M | $5.4M | −$9.5M | −$23.0M | −$83.1M | $11.6M | $48.0M |
| Income taxes | — | $1.6M | — | $6.6M | $6.3M | −$1.1M | $2.8M | −$13.1M | $9.0M | $11.8M |
| Net income | −$43.9M | −$58.9M | −$61.8M | $10.1M | −$924,718 | −$8.4M | −$25.8M | −$70.0M | $2.6M | $36.2M |
| EBITDA | −$26.2M | −$37.3M | −$30.0M | $43.7M | $26.2M | $6.6M | −$8.8M | −$64.7M | $57.4M | $73.9M |
| EPS (diluted) | −$30.49 | −$27.24 | −$5.76 | $1.10 | −$0.09 | −$1.54 | −$0.76 | −$1.50 | $0.16 | $10.11 |
| Gross margin | −11.6% | −208.4% | −25.3% | 38.5% | 31.2% | 31.2% | 48.8% | 49.5% | 41.3% | 36.5% |
| Operating margin | −33.7% | −277.8% | −39.6% | 24.9% | 9.5% | −34.3% | −219.8% | −3,219.8% | 10.4% | 32.0% |
| Net margin | −172.8% | −769.3% | −205.7% | 15.2% | −1.7% | −29.9% | −243.5% | −2,696.2% | 2.4% | 24.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.9M | $2.4M | $6.4M | $9.0M | $8.3M | $1.6M | $1.7M | $2.2M | $6.9M | $1.3M | $6.9M | $5.9M |
| Cost of revenue | $10.6M | $2.4M | $11.4M | $8.2M | $7.4M | $1.6M | $12.3M | $4.1M | $17.2M | $2.1M | $17.2M | $6.4M |
| Gross profit | $2.3M | $15,214 | −$5.0M | $854,029 | $986,655 | $10,177 | −$10.6M | −$1.8M | −$10.3M | −$812,783 | −$10.3M | −$508,287 |
| Sales, general & admin | $616,177 | $1.3M | $2.4M | $785,533 | $1.0M | $1.4M | $2.9M | $1.0M | $2.0M | $721,947 | $2.0M | $777,312 |
| Total operating expenses | $1.1M | $3.7M | $10.3M | $607,779 | $1.7M | $4.6M | −$4.3M | $2.8M | −$2.4M | $2.8M | $19.2M | $1.8M |
| Operating income | $1.3M | −$1.3M | −$3.9M | $246,250 | −$750,686 | −$4.6M | −$6.3M | −$4.6M | −$7.9M | −$1.5M | −$12.4M | −$2.3M |
| Interest income | — | $253,660 | $422,201 | $978 | $1,795 | $2,429 | $3,187 | $6,220 | $34,791 | $36,060 | $49,001 | $57,758 |
| Interest expense | $124,673 | $123,444 | $311,062 | $18,184 | $21,674 | $21,722 | $21,066 | $21,191 | $23,887 | $24,830 | $23,887 | $23,791 |
| Income before taxes | $1.1M | −$3.9M | −$2.9M | −$35.7M | −$773,777 | −$4.6M | −$13.1M | −$4.6M | −$54.4M | −$5.3M | −$54.4M | −$2.3M |
| Income taxes | — | — | — | — | — | — | $5.2M | −$1.1M | $4.4M | — | — | −$484,000 |
| Net income | $1.1M | −$3.9M | −$2.9M | −$35.7M | −$773,777 | −$4.6M | −$18.4M | −$3.5M | −$58.8M | −$4.0M | −$58.8M | −$1.8M |
| EBITDA | $1.3M | $573,943 | $2.4M | −$31.7M | $3.5M | −$364,731 | −$8.9M | −$1.0M | −$41.7M | — | — | $2.6M |
| EPS (diluted) | $0.64 | $4.00 | −$1.85 | −$26.35 | −$0.58 | −$1.71 | −$17.70 | −$0.33 | −$3.09 | −$5.63 | — | −$0.17 |
| Gross margin | 18.0% | 0.6% | −77.6% | 9.4% | 11.8% | 0.6% | −613.0% | −81.6% | −149.9% | −62.2% | −149.9% | −8.7% |
| Operating margin | 9.7% | −55.4% | −60.4% | 2.7% | −9.0% | −287.3% | −363.7% | −204.3% | −114.7% | −117.4% | −179.8% | −39.1% |
| Net margin | 8.9% | −165.8% | −44.4% | −394.3% | −9.3% | −288.5% | −1,061.8% | −155.8% | −855.6% | −305.4% | −855.6% | −30.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GURE's financial statements (latest annual report filed —); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GURE financial results
In fiscal year 2025 (ended December 31, 2025), Gulf Resources reported revenue of $25.4 million, up 231.8% from the year before. It had a net loss of $43.9 million, a net profit margin of −172.8%. Diluted earnings per share came to −$30.49. Over five years revenue grew at an average rate of −2.1% a year.
See the GURE stock overview for the latest quote and news, or the GURE chart for price history and technical indicators.
GURE income statement FAQ
What is Gulf Resources's annual revenue?
Gulf Resources reported total revenue of $25.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 231.8% from $7.7 million the previous year.
Is Gulf Resources profitable?
No. Gulf Resources reported a net loss of $43.9 million in fiscal 2025, a net profit margin of −172.8%; its operating margin was −33.7%.
What is Gulf Resources's gross margin?
Gulf Resources's gross margin was −11.6% in fiscal 2025: for every $100 of revenue, Gulf Resources kept $-12 after the direct cost of its products and services.
How fast is Gulf Resources growing?
Revenue grew −2.1% a year on average over the last five fiscal years, from $28.2 million to $25.4 million.
What are Gulf Resources's earnings per share?
Gulf Resources earned $-30.49 per diluted share in fiscal 2025, compared with $-27.24 a year earlier.
When will Gulf Resources report its next earnings?
Gulf Resources is expected to report results for the quarter ending September 30, 2026 on November 18, 2026.
When does Gulf Resources's fiscal year end?
Gulf Resources's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025.