$EPM

EVOLUTION PETROLEUM CORP

CIK:0001006655|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 86,343	$ 85,840
Operating costs
Lease operating costs	50,338	49,338
Depletion, depreciation, and accretion	22,780	21,993
General and administrative expenses	9,745	10,334
Total operating costs	82,863	81,665
Income (loss) from operations	3,480	4,175
Other income (expense)
Net gain (loss) on derivative contracts	(2,850)	473
Interest and other income	72	191
Interest expense	(3,849)	(2,970)
Income (loss) before income taxes	(3,147)	1,869
Income tax (expense) benefit	718	(396)
Net income (loss)	$ (2,429)	$ 1,473
Net income (loss) per common share:
Basic (in dollars per share)	$ (0.08)	$ 0.03
Diluted (in dollars per share)	$ (0.08)	$ 0.03
Weighted average number of common shares outstanding:
Basic (in shares)	34,251	33,158
Diluted (in shares)	34,251	33,323
Crude oil
Revenues
Total revenues	$ 50,556	$ 51,102
Natural gas
Revenues
Total revenues	25,038	23,516
Natural gas liquids
Revenues
Total revenues	$ 10,749	$ 11,222

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (2,429)	$ 1,473
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, and accretion	22,780	21,993
Stock-based compensation	2,344	2,482
Settlement of asset retirement obligations	(246)	(385)
Deferred income taxes	(963)	(468)
Unrealized (gain) loss on derivative contracts	(902)	492
Accrued settlements on derivative contracts	631	(251)
Amortization of debt issuance costs	156
Other	24	(8)
Changes in operating assets and liabilities:
Receivables from crude oil, natural gas, and natural gas liquids revenues	1,180	75
Prepaid expenses and other current assets	25	2,925
Accounts payable and accrued liabilities and other	918	4,798
State and federal taxes payable		(74)
Net cash provided by operating activities	23,518	33,052
Cash flows from investing activities:
Acquisition of oil and natural gas properties	(22,988)	(9,019)
Proceeds from the sale of unproved oil and natural gas properties	3,093
Capital expenditures for oil and natural gas properties	(7,280)	(12,623)
Net cash used in investing activities	(27,175)	(21,642)
Cash flows from financing activities:
Common stock dividends paid	(16,943)	(16,347)
Common stock repurchases, including stock surrendered for tax withholding	(225)	(442)
Borrowings under senior secured credit facility	22,000	2,000
Repayments of senior secured credit facility	(3,000)	(4,000)
Debt issuance costs	(379)	(90)
Issuance of common stock	6,070	3,840
Offering costs	(236)	(310)
Net cash provided by (used in) financing activities	7,287	(15,349)
Net increase (decrease) in cash and cash equivalents	3,630	(3,939)
Cash and cash equivalents, beginning of period	2,507	6,446
Cash and cash equivalents, end of period	6,137	2,507
Supplemental disclosures of cash flow information:
Cash paid for interest on senior secured credit facility	3,690	3,082
Cash paid for income taxes	1,387	874
Cash refunded from income taxes	884	1,000
Non-cash investing and financing transactions:
Increase (decrease) in accrued capital expenditures for oil and natural gas properties	(1,916)	79
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	$ 411	800
Accrued debt issuance costs		275
Accrued offering costs		$ 10

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 6,137	$ 2,507
Receivables from crude oil, natural gas, and natural gas liquids revenues	10,089	10,804
Derivative contract assets	2,094	1,777
Prepaid expenses and other current assets	2,199	2,287
Total current assets	20,519	17,375
Property and equipment, net of depletion, depreciation, and impairment
Oil and natural gas properties, net - full-cost method of accounting, of which none were excluded from amortization	146,967	142,248
Derivative contract assets	478	198
Other assets, net	734	431
Total assets	168,698	160,252
Current liabilities
Accounts payable	13,817	12,901
Accrued liabilities and other	5,674	6,909
Derivative contract liabilities	2,865	1,577
Total current liabilities	22,356	21,387
Long term liabilities
Senior secured credit facility	56,500	37,500
Deferred income taxes	5,271	6,234
Asset retirement obligations	23,626	21,535
Derivative contract liabilities	190	1,783
Operating lease liability	351
Total liabilities	108,294	88,439
Commitments and contingencies (Note 10)
Stockholders' equity
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 35,949,843 and 34,337,188 shares as of June 30, 2026 and 2025, respectively	36	34
Additional paid-in capital	54,611	46,650
Retained earnings	5,757	25,129
Total stockholders' equity	60,404	71,813
Total liabilities and stockholders' equity	$ 168,698	$ 160,252