Research Reports

Key takeaways

Revenue was $20.2M (-10.6% YoY), reflecting lower commodity pricing environment compared to Q3 FY2025.

Gross profit was $7.2M (-21.4% YoY), with gross margin at 35.7%, consistent with prior-period cost structure but pressured by rising depletion expense.

Operating income was -$558.0K (-135.2% YoY), marking the first quarterly operating loss in the comparative period, primarily due to increased depletion and reduced professional fees.

Net income was -$8.9M (-309.9% YoY), with diluted EPS of -$0.26, reflecting volatility in non-cash derivative outcomes rather than core operational deterioration.

Full analysis

Results of Operations

Revenue for Q3 FY2026 totaled $20.2M, down 10.6% from $22.6M in Q3 FY2025. Gross profit declined 21.4% to $7.2M, resulting in a gross margin of 35.7%. Operating income turned negative at -$558.0K, compared to $1.6M in the prior-year quarter — a shift attributable to higher depletion expense and lower professional fees, as noted in management commentary. Net income was -$8.9M, a significant deterioration from -$2.2M in Q3 FY2025, with diluted EPS of -$0.26 versus -$0.07. The year-over-year change in net income reflects non-operational factors, particularly derivative-related losses, which are inherently volatile and not indicative of underlying asset performance.

EPM · Evolution Petroleum Corporation

Summary

Key takeaways

Full analysis

Results of Operations

Liquidity and Capital Resources

Critical Accounting Policies