Liberty Energy Inc.
libertyenergy.comWhat Do They Do?
Provides hydraulic fracturing and related well-completion services, equipment and technology to oil and gas producers, and distributed power and energy storage solutions to commercial and industrial customers, data centers, energy companies and miners.
10-K for FY2025, filed Feb 2, 2026
How Do They Make Money?
Oil and gas producers pay Liberty for fracturing services and related products; the price is generally set by sales orders or contracts, and each fracturing stage is billed when completed. Payment terms generally require payment within 30 to 45 days.
10-K for FY2025, filed Feb 2, 2026Revenue RecognitionView ↗
Under ASC Topic 606-Revenue from Contracts with Customers, revenue recognition is based on the transfer of control, or the customer’s…View ↗
The Company also assesses customers’ ability and intention to pay, which is based on a variety of factors including historical payment…View ↗
$4B
-
10-K for FY2025, filed Feb 2, 2026
$4B ↗
Who Are Their Customers?
Integrated and independent oil and gas producers buy Liberty’s services through local sales representatives. Distributed power solutions serve commercial and industrial companies, data centers, energy companies and miners.
10-K for FY2025, filed Feb 2, 2026We have developed long-term partnerships with our customers through a continuous dialogue focused on their production economics. Further…View ↗
Our sales and marketing activities typically are performed through our local sales representatives in each geographic region and are…View ↗
We also own and operate Liberty Power Innovations LLC (“LPI”), providing advanced distributed power and energy storage solutions, serving…View ↗
10-K for FY2025, filed Feb 2, 2026
As of December 31, 2025, customer A accounted for 16% of total consolidated accounts receivable and unbilled revenue. As of December 31…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 2, 2026
$72.7MView ↗
10-K for FY2025, filed Feb 2, 2026
$147.9MView ↗
10-K for FY2025, filed Feb 2, 2026
$14.1MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Oct 22, 2026
−$39.1MView ↗
- ▼ Now a loss
- vs $43.1M in Q3 FY2025
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May 7, 2026
Liberty contracted for power-generation equipment for prospective projects
Two supply contracts cover equipment for prospective data center and other distributed power projects, with an aggregate purchase price of $505 million.
Sources
8-K, filed May 7, 2026
On May 1, 2026, Liberty Advanced Equipment Technologies LLC (the “Purchaser”), a wholly owned subsidiary of Liberty Energy Inc. (the…View ↗
Growing. Revenue grew 62% in 4 years, from $2.5B in FY2021 to $4B in FY2025, about 13% a year.
Distributed power business
The older report focused on hydraulic fracturing and related well services. The latest report also describes Liberty Power Innovations’ distributed power and energy storage business serving data centers and other commercial and industrial uses.
10-K for FY2022, filed Feb 10, 2023 10-K for FY2025, filed Feb 2, 2026We are a leading integrated energy services and technology company focused on providing innovative hydraulic services and related…View ↗
Who Do They Compete With?
Competes with Halliburton, Patterson-UTI Energy, ProFrac Holding, and ProPetro Services
10-K for FY2025, filed Feb 2, 2026The markets in which we operate are highly competitive. We provide services in various geographic regions across the United States and…View ↗
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