Earnings Releases·Nov 13, 2026, 4:31 PM ET

PEDEVCO — Q3 2026 Earnings Summary

Revenue surged 411% year-over-year to $35.5 million driven by a 298% production volume increase and 31% rise in realized oil prices, while Adjusted EBITDA grew 239% to $14.7 million; however, the company reported a net loss of $9.2 million due to $16.6 million in derivative losses and elevated lease operating expenses.
Full-year 2026 capital expenditure guidance was revised upward to $37–$42 million from a previous cap of $20 million, while Adjusted EBITDA guidance remains reiterated at $60–$70 million.
Strategic asset expansion included acquiring ~5,678 net acres in the Powder River Basin to double the Mowry position to ~12,000 net acres and selling Weld County properties for $2.5 million, with future capital allocation focused on the Rocky Mountain region.
Management expects sequential production growth in Q4 2026 following the return of shut-in wells and anticipates meaningful growth in 2027, though the company is actively searching for a permanent CEO.
Balance sheet strength was maintained with revolver borrowings declining to $80.0 million, leaving $45.0 million in availability, and a borrowing base reaffirmed at $125 million in October 2026.