Highpeak Energy Inc

How Do They Make Money?

revenue

Segment	Share	Revenue
Crude Oil Sales	91% FY2022: 95%
Natural Gas and NGL Sales	9.0% FY2022: 5.3%

Yes. It kept 2 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

17% of revenue

▼ −56% vs FY2024 ($337.4M, 30%)

Net income, FY2025

2% of revenue

▼ −80% vs FY2024 ($95.1M, 9%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Crude Oil Sales share of revenue vs 90.9% in Q2 FY2025

Growing. Revenue grew 3.9x in 4 years, from $220.1M in FY2021 to $863.4M in FY2025, about 41% a year.

Revenue over time

Crude Oil Sales Natural Gas and NGL Sales

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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