$TBN

Tamboran Resources Corp

CIK:0001997652|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue and other operating income	$ 0	$ 0
Operating costs and expenses
Compensation and benefits, including stock-based compensation	(12,539)	(9,397)
Consultancy, legal and professional fees	(6,230)	(6,531)
Depreciation and amortization	(7)	(86)
Loss on remeasurement of assets classified as held for sale	0	(376)
Accretion of asset retirement obligations	(1,243)	(1,042)
Exploration expense	(3,336)	(4,112)
Camp expense recoveries, net	(2,527)	0
LNG feasibility study expense	(123)	(6,035)
Checkerboard fee	0	(5,950)
General and administrative	(6,665)	(5,787)
Total operating costs and expenses	(32,670)	(39,316)
Loss from operations	(32,670)	(39,316)
Other income (expense)
Interest income (expense), net	2,659	1,551
Foreign exchange gain (loss), net	(486)	(2,585)
Other income (expense), net	0	726
Total other income (expense)	2,173	(308)
Net loss	(30,496)	(39,624)
Less: Net loss attributable to noncontrolling interest	(4,422)	(2,722)
Less: Net loss attributable to redeemable noncontrolling interest	(1)	0
Net loss attributable to Tamboran Resources Corporation stockholders	(26,073)	(36,902)
Comprehensive income (loss)
Net loss	(30,496)	(39,624)
Other comprehensive income (loss)
Foreign currency translation	11,890	2,768
Total comprehensive income (loss)	(18,606)	(36,856)
Less: Total comprehensive income (loss) attributable to noncontrolling interest	(1,141)	(3,254)
Less: Total comprehensive income (loss) attributable to redeemable noncontrolling interest	(68)	0
Total comprehensive loss attributable to Tamboran Resources Corporation stockholders	$ (17,397)	$ (33,602)
Net loss per common stock
Basic (in USD per share)	$ (1.161)	$ (2.517)
Diluted (in USD per share)	$ (1.161)	$ (2.517)
Weighted-average number of common stock outstanding
Basic (in shares)	22,463,972	14,661,192
Diluted (in shares)	22,463,972	14,661,192

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (30,496)	$ (39,624)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7	86
Stock-based compensation	4,404	4,355
Foreign exchange (gain) loss, net	486	2,585
Performance bonds Facility Fee	2,205	0
Loss on remeasurement of assets classified as held for sale	0	376
Accretion of asset retirement obligations	1,243	1,042
Checkerboard fee	0	5,950
Accrued interest income	(271)	0
Interest expense	334	381
Changes in operating assets and liabilities:
Trade and other receivables	2,859	(1,275)
Prepaid expenses and other assets	(7,845)	(180)
Accounts payable and accrued expenses	(8,263)	(3,300)
Other non-current liabilities	740	(32)
Net cash used in operating activities	(34,597)	(29,636)
Cash flows from investing activities:
Payments for property, plant and equipment	(415)	(290)
Payments for exploration and evaluation	(112,029)	(94,201)
Payments for assets under construction	(37,289)	(15,637)
Payment of interest on finance lease liabilities	(3,406)	(2,799)
Payment of interest on borrowings	(4,960)	0
Payment for Falcon Acquisition, including transaction costs, net of cash acquired	(12,146)	0
Payments in relation to assignment of notes receivable	(17,435)	0
Proceeds from sale of assets held for sale	0	7,990
Proceeds from government grants for exploration	120	6,169
Net cash used in investing activities	(187,560)	(98,768)
Cash flows from financing activities:
Proceeds from issue of common stock	308,498	46,092
Contributions received from noncontrolling interest holders	74,517	61,457
Advance contributions received from noncontrolling interest holders	0	450
Proceeds from issue of common stock, awaiting issuance	0	5,722
Common stock issue transaction costs	(17,517)	(3,194)
Proceeds from borrowings	58,883	0
Payment of debt issuance costs	(3,619)	0
Payment of transaction costs on common stock, awaiting issuance	0	(401)
Advance payment of common stock issue transaction costs	0	(768)
Payment of performance bond facility establishment fee	(271)	(536)
Repayment of lease liabilities	(8,225)	(7,766)
Net cash from financing activities	412,266	101,056
Net increase (decrease) in cash and cash equivalents and restricted cash	190,108	(27,348)
Cash and cash equivalents and restricted cash at the beginning of period	45,161	74,746
Effects of exchange rate changes on cash and cash equivalents	(4,174)	(2,237)
Cash and cash equivalents and restricted cash at the end of period	231,095	45,161
Non-cash investing and financing activities:
Accrued capital expenditure	41,205	7,959
Accrued stock issuance costs	0	(657)
Asset retirement obligations	(229)	(524)
Stock-based compensation reserve	(7,707)	(6,303)
Contribution receivable from noncontrolling interest holders	1,472	7,051
Operating lease right-of use assets and lease liabilities	1,281	587
Interest accrued on finance lease liabilities	(284)	(492)
Finance lease right-of-use assets and lease liabilities	(1,858)	(7,760)
Accrued debt issuance costs	0	0
Interest and fee payable	(1,060)	0
Non-cash finance lease costs capitalized to unproved properties	8,755	10,106
Non-cash equity considerations	2,188	0
Accrued transaction costs	10,375	0
Equity consideration for Falcon Acquisition	$ 226,819	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 219,135	$ 39,439
Restricted cash	11,960	5,722
Trade and other receivables:
Joint interest billings	1,472	8,191
ATO receivable	3,735	1,219
Other receivables	430	222
Prepaid expenses and other current assets	6,461	1,903
Total current assets	243,193	56,696
Property, plant and equipment, net	744	308
Operating lease right-of-use assets	2,705	1,549
Finance lease right-of-use asset	14,345	16,544
Prepaid expenses and other non-current assets	13,672	4,610
Total non-current assets	910,789	389,766
TOTAL ASSETS	1,153,982	446,462
Current liabilities
Accounts payable and accrued expenses	73,742	20,457
Advance against joint interest billings	0	450
Current portion of operating lease obligations	1,897	391
Current portion of finance lease obligation	14,410	15,307
Other current liabilities	3,008	0
Total current liabilities	93,057	36,605
Operating lease obligations	1,018	1,175
Finance lease obligation	8,354	9,523
Asset retirement obligations	22,138	9,649
Long-term debt, net	59,043	0
Other non-current liabilities	811	57
Total non-current liabilities	91,364	20,404
Total liabilities	184,421	57,009
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest	1,863	0
Stockholders’ equity
Common stock, $0.001 par value; 10,000,000,000 common stock authorized; 34,872,663 and 16,717,289 common stock issued and outstanding as of June 30, 2026 and 2025, respectively	35	17
Additional paid-in capital	990,356	464,407
Accumulated other comprehensive loss	(812)	(9,421)
Accumulated deficit	(193,355)	(167,281)
Total Tamboran Resources Corporation stockholders’ equity	796,224	287,722
Noncontrolling interest	171,474	101,730
Total stockholders’ equity	967,698	389,452
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY	1,153,982	446,462
Unproved properties
Trade and other receivables:
Natural gas properties, successful efforts method:	807,036	342,314
Assets under construction - natural gas equipment
Trade and other receivables:
Natural gas properties, successful efforts method:	$ 72,287	$ 24,441