$EPM
EVOLUTION PETROLEUM CORP

2024 Q4 Form 10-Q Financial Statement

#000155837024015528 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $21.90M
YoY Change 6.29%
Cost Of Revenue $11.79M
YoY Change -0.78%
Gross Profit $10.11M
YoY Change 15.92%
Gross Profit Margin 46.15%
Selling, General & Admin $2.527M
YoY Change -2.92%
% of Gross Profit 25.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.725M
YoY Change 34.33%
% of Gross Profit 56.65%
Operating Expenses $8.252M
YoY Change 20.2%
Operating Profit $1.854M
YoY Change 0.05%
Interest Expense $1.032M
YoY Change 3125.0%
% of Operating Profit 55.66%
Other Income/Expense, Net
YoY Change
Pretax Income $2.886M
YoY Change 48.99%
Income Tax $800.0K
% Of Pretax Income 27.72%
Net Earnings $2.065M
YoY Change 40.09%
Net Earnings / Revenue 9.43%
Basic Earnings Per Share $0.06
Diluted Earnings Per Share $0.06
COMMON SHARES
Basic Shares Outstanding 33.60M 33.32M
Diluted Shares Outstanding 32.87M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.937M
YoY Change -26.3%
Cash & Equivalents $6.937M
Short-Term Investments
Other Short-Term Assets $3.160M
YoY Change 48.92%
Inventory
Prepaid Expenses
Receivables $10.80M
Other Receivables $91.00K
Total Short-Term Assets $20.99M
YoY Change -5.0%
LONG-TERM ASSETS
Property, Plant & Equipment $135.6M
YoY Change 30.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $202.0K
YoY Change
Other Assets $1.278M
YoY Change -3.77%
Total Long-Term Assets $137.0M
YoY Change 30.3%
TOTAL ASSETS
Total Short-Term Assets $20.99M
Total Long-Term Assets $137.0M
Total Assets $157.9M
YoY Change 24.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.538M
YoY Change 5.92%
Accrued Expenses $4.728M
YoY Change -9.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.44M
YoY Change -4.86%
LONG-TERM LIABILITIES
Long-Term Debt $39.50M
YoY Change
Other Long-Term Liabilities $19.95M
YoY Change 14.17%
Total Long-Term Liabilities $59.45M
YoY Change 240.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.44M
Total Long-Term Liabilities $59.45M
Total Liabilities $78.31M
YoY Change 110.08%
SHAREHOLDERS EQUITY
Retained Earnings $38.04M
YoY Change -23.04%
Common Stock $34.00K
YoY Change 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.63M
YoY Change
Total Liabilities & Shareholders Equity $157.9M
YoY Change 24.17%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $2.065M
YoY Change 40.09%
Depreciation, Depletion And Amortization $5.725M
YoY Change 34.33%
Cash From Operating Activities $7.614M
YoY Change 76.09%
INVESTING ACTIVITIES
Capital Expenditures $3.002M
YoY Change 64.31%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.002M
YoY Change 64.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.121M
YoY Change 0.07%
NET CHANGE
Cash From Operating Activities 7.614M
Cash From Investing Activities -3.002M
Cash From Financing Activities -4.121M
Net Change In Cash 491.0K
YoY Change -130.29%
FREE CASH FLOW
Cash From Operating Activities $7.614M
Capital Expenditures $3.002M
Free Cash Flow $4.612M
YoY Change 84.7%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates. </span>  The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities, if any, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Significant estimates include (a) reserve quantities and estimated future cash flows associated with proved reserves, which may </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">significantly impact depletion expense and potential impairments of oil and natural gas properties, (b) asset retirement obligations, (c) stock-based compensation, (d) fair values of derivative contract assets and liabilities, (e) income taxes and the valuation of deferred income tax assets, (f) commitments and contingencies, and (g) accruals of crude oil, natural gas, and NGL revenues and expenses. The Company analyzes estimates and judgments based on historical experience and various other assumptions and information that are believed to be reasonable. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as additional information is obtained, as new events occur, and as the Company’s environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company’s unaudited condensed consolidated financial statements.</p>
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