$PHX
PHX MINERALS INC.

2021 Q2 Form 10-Q Financial Statement

#000156459021041616 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $5.671M $2.702M $11.31M
YoY Change 109.88% -83.46% 48.13%
Cost Of Revenue $1.662M $1.280M $1.920M
YoY Change 29.83% -64.84% -44.51%
Gross Profit $9.497M $2.260M $5.320M
YoY Change 320.23% -64.52% -10.89%
Gross Profit Margin 167.45% 83.63% 47.03%
Selling, General & Admin $3.813M $2.870M $3.530M
YoY Change 32.87% 58.56% 65.73%
% of Gross Profit 40.15% 126.99% 66.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.138M $2.465M $3.374M
YoY Change -13.26% -43.77% -6.91%
% of Gross Profit 22.51% 109.05% 63.41%
Operating Expenses $5.951M $5.690M $36.45M
YoY Change 4.59% -8.08% 533.91%
Operating Profit $3.546M -$3.430M -$31.13M
YoY Change -203.39% -2005.56% -14250.0%
Interest Expense $220.4K $241.2K $346.6K
YoY Change -8.6% -54.21% -28.66%
% of Operating Profit 6.22%
Other Income/Expense, Net -$235.0K $70.00K -$40.00K
YoY Change -435.76%
Pretax Income -$2.173M -$4.433M -$27.44M
YoY Change -50.99% -174.89% 1231.26%
Income Tax -$816.0K -$877.9K -$6.987M
% Of Pretax Income
Net Earnings -$1.357M -$3.555M -$20.45M
YoY Change -61.84% -177.22% 959.1%
Net Earnings / Revenue -23.92% -131.56% -180.84%
Basic Earnings Per Share -$0.05 -$0.21
Diluted Earnings Per Share -$0.05 -$0.21 -$1.238M
COMMON SHARES
Basic Shares Outstanding 28.31M 16.55M 16.34M
Diluted Shares Outstanding 28.31M 16.55M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.909M $2.000M $500.0K
YoY Change 45.43% 33.33% 0.0%
Cash & Equivalents $2.909M $2.025M $498.8K
Short-Term Investments
Other Short-Term Assets $480.6K $2.300M $4.800M
YoY Change -79.1% 59.93% 220.0%
Inventory
Prepaid Expenses
Receivables $5.114M $2.200M $3.900M
Other Receivables $2.380M $1.600M $3.400M
Total Short-Term Assets $10.88M $8.200M $12.60M
YoY Change 32.72% -28.52% 41.57%
LONG-TERM ASSETS
Property, Plant & Equipment $98.37M $83.00M $86.00M
YoY Change 18.52% -57.37% -56.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.0K $200.0K
YoY Change -50.0% 0.0%
Other Assets $558.7K $231.4K $0.00
YoY Change 141.44% 15.69% -100.0%
Total Long-Term Assets $98.93M $83.50M $86.16M
YoY Change 18.48% -57.21% -56.24%
TOTAL ASSETS
Total Short-Term Assets $10.88M $8.200M $12.60M
Total Long-Term Assets $98.93M $83.50M $86.16M
Total Assets $109.8M $91.70M $98.76M
YoY Change 19.75% -55.62% -52.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.173M $700.0K $810.1K
YoY Change 67.61% 24.19% 62.02%
Accrued Expenses $1.455M $1.500M $1.200M
YoY Change -2.97% -21.05% -20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $2.000M $0.00
YoY Change -100.0%
Long-Term Debt Due $2.000M
YoY Change
Total Short-Term Liabilities $9.383M $4.200M $2.057M
YoY Change 123.41% 71.86% 8.24%
LONG-TERM LIABILITIES
Long-Term Debt $19.90M $28.00M $32.00M
YoY Change -28.93% -32.53% -27.44%
Other Long-Term Liabilities $5.023M $3.000M $2.900M
YoY Change 67.43% 3.45% 0.0%
Total Long-Term Liabilities $24.92M $31.00M $32.00M
YoY Change -19.6% -25.3% -31.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.383M $4.200M $2.057M
Total Long-Term Liabilities $24.92M $31.00M $32.00M
Total Liabilities $34.52M $35.20M $34.06M
YoY Change -1.94% -19.9% -52.03%
SHAREHOLDERS EQUITY
Retained Earnings $53.03M $58.24M $62.45M
YoY Change -8.95% -58.0%
Common Stock $26.35M $3.657M $3.546M
YoY Change 620.49% 13.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.785M $7.229M $7.553M
YoY Change -19.97% -8.06%
Treasury Stock Shares $483.6K $505.3K
Shareholders Equity $75.30M $56.50M $60.05M
YoY Change
Total Liabilities & Shareholders Equity $109.8M $91.72M $98.76M
YoY Change 19.72% -55.61% -52.01%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$1.357M -$3.555M -$20.45M
YoY Change -61.84% -177.22% 959.1%
Depreciation, Depletion And Amortization $2.138M $2.465M $3.374M
YoY Change -13.26% -43.77% -6.91%
Cash From Operating Activities $5.560M $3.720M $4.010M
YoY Change 49.47% -29.41% -20.59%
INVESTING ACTIVITIES
Capital Expenditures -$266.8K -$60.00K -$30.00K
YoY Change 344.6% -107.41% -98.89%
Acquisitions
YoY Change
Other Investing Activities -$10.89M $30.00K -$80.00K
YoY Change -36412.97% -95.71% -94.2%
Cash From Investing Activities -$11.16M -$20.00K -$120.0K
YoY Change 55703.25% -101.32% -97.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.238M -2.170M -3.660M
YoY Change -433.57% -62.33% 302.2%
NET CHANGE
Cash From Operating Activities 5.560M 3.720M 4.010M
Cash From Investing Activities -11.16M -20.00K -120.0K
Cash From Financing Activities 7.238M -2.170M -3.660M
Net Change In Cash 1.638M 1.530M 230.0K
YoY Change 7.07% 50.0% 475.0%
FREE CASH FLOW
Cash From Operating Activities $5.560M $3.720M $4.010M
Capital Expenditures -$266.8K -$60.00K -$30.00K
Free Cash Flow $5.827M $3.780M $4.040M
YoY Change 54.16% -15.25% -47.94%

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CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1356594
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3555215
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2453037
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22117915
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1356594
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3555215
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2453037
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-22117915
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28309258
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16545042
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24482639
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16528236
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28309258
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16545042
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24482639
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16528236
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
CY2021Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
258526
CY2020Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
128196
us-gaap Restricted Stock Expense
RestrictedStockExpense
542674
us-gaap Restricted Stock Expense
RestrictedStockExpense
619812
CY2020Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2537404
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
1277998
CY2021Q2 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
323187303
CY2020Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
324886491
CY2021Q2 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
32894588
CY2020Q3 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
18993814
CY2021Q2 us-gaap Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
681125
CY2020Q3 us-gaap Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
582444
CY2021Q2 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
356763016
CY2020Q3 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
344462749
CY2021Q2 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
259018926
CY2020Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
263590801
CY2021Q2 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
97744090
CY2020Q3 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
80871948
phx Computation Of Oil Natural Gas And Ngl Reserves
ComputationOfOilNaturalGasAndNglReserves
P12M
CY2021Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
37879
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
37879
CY2021Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
7976
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
7976
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
29315807
CY2020Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
358826
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
8108502
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
707647
CY2021Q2 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
-1004690
CY2020Q2 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
1699122
phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
-688807
phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
3230034
CY2021Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-4482793
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-7400855
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-814633
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-5487483
CY2020Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-838282
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8089662
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2415401
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
130690
CY2021Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
6885018
CY2021Q2 phx Derivative Asset Fair Value Gross Non Current Asset
DerivativeAssetFairValueGrossNonCurrentAsset
144462
CY2021Q2 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
1498636
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
864466
CY2020Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1146408
CY2020Q3 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
425705
CY2021Q2 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
130690
CY2021Q2 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
130690
CY2021Q2 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralNonCurrent
144462
CY2021Q2 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralNonCurrent
144462
CY2020Q3 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
864466
CY2020Q3 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
864466
CY2021Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
6754328
CY2021Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
1354174
CY2020Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
281942
CY2020Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
425705
CY2021Q2 phx Producing Properties Fair Value
ProducingPropertiesFairValue
587
CY2021Q2 phx Impairment Of Oil And Gas Properties Measured At Fair Value
ImpairmentOfOilAndGasPropertiesMeasuredAtFairValue
37879
phx Producing Properties Fair Value
ProducingPropertiesFairValue
587
phx Impairment Of Oil And Gas Properties Measured At Fair Value
ImpairmentOfOilAndGasPropertiesMeasuredAtFairValue
37879
phx Producing Properties Fair Value
ProducingPropertiesFairValue
5288710
phx Impairment Of Oil And Gas Properties Measured At Fair Value
ImpairmentOfOilAndGasPropertiesMeasuredAtFairValue
29315807
CY2021Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
7976
CY2020Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
358826
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
588721

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