Earnings Releases·Nov 10, 2026, 4:25 PM ET

Big Sky Industrial Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 revenue increased 12% YoY to $2.0 million driven by a 30% rise in average realized prices ($63.83/BOE), while production volumes declined 13% to 30,628 BOE due to 2025 divestitures and natural decline; net loss narrowed to $3.5 million ($0.07/share) from $3.3 million in Q3 2025, with Adjusted EBITDA improving to $(0.8) million.
The Company is executing Phase 1 of the Big Sky Carbon Hub with fabrication underway and civil work starting soon, targeting first production in spring 2027, supported by a five-year, 100% take-or-pay helium sales agreement at $285/Mcf.
Liquidity remains robust with $14.4 million total available as of September 30, 2026, though net debt increased to $5.585 million; management is actively pursuing a larger senior secured credit facility and monetization of 45Q tax credits to fund expansion.
Strategic progress includes the U.S. Department of Energy designating helium as a critical material, completion of in-field gathering and injection lines, and the Big Rose MRV plan entering the final EPA approval stage.