$VSOGF

Vista Energy, S.A.B. de C.V.

CIK:0001762506|SEC Filings

Consolidated statements of profit or loss and other comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement [Line Items]
Revenue from contracts with customers	$ 2,474,197	$ 1,647,768	$ 1,168,774
Cost of sales:
Operating costs	(186,945)	(116,526)	(94,685)
Crude oil stock fluctuation	1,046	1,720	(2,058)
Royalties and others	(345,349)	(243,950)	(176,813)
Depreciation, depletion and amortization	(738,903)	(437,699)	(276,430)
Other non-cash costs related to the transfer of conventional assets	(29,016)	(33,570)	(27,539)
Gross profit	1,175,030	817,743	591,249
Selling expenses	(218,072)	(140,334)	(68,792)
General and administrative expenses	(147,709)	(108,954)	(70,483)
Exploration expenses	(578)	(138)	(16)
Other operating income	512,793	54,127	203,812
Other operating expenses	(32,382)	(1,261)	302
Impairment of long- lived assets	(38,252)	4,207	(24,585)
Operating profit	1,250,830	625,390	631,487
Income (loss) from investments in associates	(5,214)	0	0
Interest income	10,594	4,535	1,235
Interest expense	(163,356)	(62,499)	(21,879)
Other financial income (expense)	(88,183)	23,401	(65,484)
Financial income (expense), net	(240,945)	(34,563)	(86,128)
Profit before income tax	1,004,671	590,827	545,359
Current income tax (expense)	(241,657)	(426,288)	(16,393)
Deferred income tax (expense) benefit	(43,951)	312,982	(132,011)
Income tax (expense)	(285,608)	(113,306)	(148,404)
Profit for the year, net	719,063	477,521	396,955
Other comprehensive income that shall not be reclassified to profit (loss) in subsequent years
- Profit (loss) from actuarial remeasurement related to employee benefits	36	(10,200)	6,565
- Deferred income tax (expense) benefit	(13)	3,570	(2,298)
Other comprehensive income for the year	23	(6,630)	4,267
Total comprehensive profit for the year	$ 719,086	$ 470,891	$ 401,222
Earnings per share
Basic (in US Dollars per share)	$ 7.015	$ 4.979	$ 4.237
Diluted (in US Dollars per share)	$ 6.707	$ 4.633	$ 4

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Profit for the year, net	$ 719,063	$ 477,521	$ 396,955
Items related to operating activities:
Allowance for expected credit losses	44
Share-based payments	55,989	34,923	23,133
Net increase in provisions	2,507	1,261	(578)
Net changes in foreign exchange rate	144	453	(18,458)
Discount of assets and liabilities at present value	23,652	(933)	(2,137)
Discount for well plugging and abandonment	2,434	1,312	2,387
Income tax expense	285,608	113,306	148,404
Other non-cash costs related to the transfer of conventional assets	29,016	33,570	27,539
Employee benefits	788	489	300
Items related to investing activities:
Impairment of long-lived assets	38,252	(4,207)	24,585
Gain from Business Combination	(490,530)	0	0
Interest income	(10,594)	(4,535)	(1,235)
Changes in the fair value of financial assets	(18,471)	(14,120)	(19,437)
Depreciation and depletion	730,248	431,788	272,371
Amortization of intangible assets	8,655	5,911	4,059
Income (loss) from investment in associates	5,214
Gain related to the transfer of conventional assets	0	0	(89,659)
Gain from farmout agreement	0	0	(24,429)
Items related to financing activities:
Interest expense	163,356	62,499	21,879
Amortized cost	7,880	1,649	1,810
Interest expense on lease liabilities	3,320	3,093	2,894
Other taxes interest	55,101	0	0
Other financial income (expense)	14,123	(14,855)	26,381
Remeasurement in borrowings			72,044
Changes in working capital:
Trade and other receivables	(221,134)	(210,622)	(81,260)
Inventories	(1,046)	(1,720)	2,058
Trade and other payables	(39,172)	112,380	61,230
Payments of employee benefits	(494)	(424)	(283)
Salaries and payroll taxes	(109,852)	(16,247)	(26,441)
Other taxes and royalties	(24,660)	(23,396)	(43,507)
Provisions	(1,600)	(751)	(1,359)
Income tax payment	(431,650)	(29,319)	(67,213)
Net cash flows provided by operating activities	796,191	959,026	712,033
Cash flows from investing activities:
Payments for acquisitions of property, plant and equipment and biological assets	(1,455,411)	(1,052,530)	(688,437)
Interest received	10,594	4,535	1,235
Payments for acquisitions of other intangible assets	(11,720)	(11,328)	(7,293)
Proceeds from the transfer of conventional assets	5,734	10,734	10,000
Payments for investments in associates	(56,706)	(3,287)	(2,176)
Payment for Business Combination, net of cash acquired	(841,555)
Proceeds from farmout agreement			26,650
Prepayment of leases		(13,200)	(14,292)
Payments for the acquisition of AFBN assets			(25,000)
Net cash flows (used in) investing activities	(2,349,064)	(1,051,876)	(699,313)
Cash flows from financing activities:
Proceeds from borrowings	2,838,173	1,320,897	318,169
Payment of borrowings principal	(1,173,623)	(470,351)	(211,499)
Payment of borrowings interest	(148,310)	(53,897)	(22,993)
Payment of borrowings cost	(17,935)	(7,631)	(1,779)
Payments of other taxes interest	(22,045)
Payments of other financial results	(7,948)	8,680	(25,562)
Payments of lease	(90,772)	(56,641)	(36,780)
Share repurchase	(50,000)	(99,846)
Net cash flows provided by financing activities	1,327,540	641,211	19,556
Net (decrease) increase in cash and cash equivalents	(225,333)	548,361	32,276
Cash and cash equivalents at beginning of year	755,610	209,516	241,956
Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents	(4,093)	(2,267)	(64,716)
Net (decrease) increase in cash and cash equivalents	(225,333)	548,361	32,276
Cash and cash equivalents at end of year	526,184	755,610	209,516
Significant transactions that generated no cash flows
Acquisition of Vista Lach through the issuance of Series A shares and an increase in trade and other payables	506,754
Acquisition of property, plant and equipment through increase in trade and other payables	141,181	341,448	152,607
Acquisition of property, plant and equipment through increase in trade and other payables, related to the Farmout Agreement	109,538
Changes in well plugging and abandonment with an impact in property, plant and equipment	$ 5,397	$ 23,325	(930)
Disposal for transfer of conventional assets through increase in trade and other receivables			$ (116,071)

Consolidated statements of financial position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Noncurrent assets
Property, plant and equipment	$ 5,543,032	$ 2,805,983
Goodwill	22,576	22,576
Other intangible assets	18,485	15,443
Right-of-use assets	153,283	105,333
Biological assets	15,855	10,027
Investments in associates	54,542	11,906
Trade and other receivables	373,026	205,268
Deferred income tax assets	36,514	3,565
Total noncurrent assets	6,217,313	3,180,101
Current assets
Inventories	9,457	6,469
Trade and other receivables	347,681	281,495
Cash, bank balances and other short-term investments	538,402	764,307
Total current assets	895,540	1,052,271
Total assets	7,112,853	4,232,372
Equity
Capital stock	491,165	398,064
Other equity instruments	32,144	32,144
Legal reserve	8,233	8,233
Share-based payments	(32,765)	45,628
Share repurchase reserve	179,324	129,324
Other accumulated comprehensive income (losses)	(11,034)	(11,057)
Accumulated profit (losses)	1,844,527	1,018,877
Total equity	2,511,594	1,621,213
Noncurrent liabilities
Deferred income tax liabilities	298,664	64,398
Lease liabilities	88,451	37,638
Provisions	51,513	33,058
Borrowings	2,803,982	1,402,343
Employee benefits	16,226	15,968
Income tax liability	13,964	0
Trade and other payables	292,236	0
Total noncurrent liabilities	3,565,036	1,553,405
Current liabilities
Provisions	10,800	3,910
Lease liabilities	55,452	58,022
Borrowings	350,095	46,224
Salaries and payroll taxes	35,891	32,656
Income tax liability	120,910	382,041
Other taxes and royalties	43,945	47,715
Trade and other payables	419,130	487,186
Total current liabilities	1,036,223	1,057,754
Total liabilities	4,601,259	2,611,159
Total equity and liabilities	$ 7,112,853	$ 4,232,372