Filing Flows › BKV (BKV) › Q1 2025
BKV (BKV) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
BKV (BKV) reported revenue of $231M for the first quarter 2025 (Q1 2025), +48% from a year earlier and -40% from the quarter before. Operating margin was -40.6%, net loss $86.8M (37.6% of revenue).
BKV, Q1 2025: revenue $231M (+48% year over year), operating margin -40.6%, net loss $86.8M, operating cash flow $22.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $231M | -40% | +48% |
| Operating profit | −$93.7M | — | — |
| Net earnings | −$86.8M | — | — |
| Operating cash flow | $22.6M | -44% | +18% |
What changed
Revenue was $231.0M in Q1 2025, up 48% year over year and down 40% from the previous quarter.
Operating costs exceeded revenue by $93.7M, an operating margin of -40.6%. Total costs grew 71% against revenue growth of 48%. The fastest-growing cost line was Other operating costs (+77%). The quarter ended with a net loss of $86.8M, wider than the previous quarter's $48.0M loss. Minority interests bore $4.8M of it: to shareholders the quarter was a loss of $82.0M.
Operating cash flow was $22.6M (up 18% year over year). Non-cash charges added back $40.1M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $67.3M. Capital expenditures of $57.6M exceeded it, leaving free cash flow of −$35.0M.
Questions
What was BKV's revenue in the first quarter 2025?
BKV (BKV) reported revenue of $231M for the first quarter 2025 (Q1 2025), +48% from a year earlier and -40% from the quarter before.
Was BKV profitable in the first quarter 2025?
Operating loss was $93.7M (-40.6% of revenue) and net loss $86.8M.
Source: BKV 10-Q on SEC EDGAR.