Filing Flows › BKV (BKV) › Q4 2025
BKV (BKV) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
BKV (BKV) reported revenue of $505M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +153% from the quarter before. Operating margin was 37.0%, net earnings $76.4M (15.1% of revenue).
BKV, Q4 2025: revenue $505M (+31% year over year), operating margin 37.0%, net earnings $76.4M, operating cash flow $107M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $505M | +153% | +31% |
| Operating profit | $187M | +127% | +444% |
| Net earnings | $76.4M | -0.6% | — |
| Operating cash flow | $107M | +44% | +163% |
| Free cash flow | $10.9M | — | — |
What changed
Revenue was $504.8M in Q4 2025, up 31% year over year and up 153% from the previous quarter. Natural gas, NGL, and oil sales was the largest line at 49% of revenue.
Operating profit was $186.7M, a 37.0% margin (up 28.1 points year over year). Of the extra revenue versus a year earlier, 128% reached operating profit, above the 9% margin then. Total costs fell 9% while revenue rose 31%. The fastest-growing cost line was General & admin (+24%). Net earnings were $76.4M. The effective tax rate was 17.7%.
Operating cash flow was $107.1M (up 163% year over year), 127% of net income including minority interests. Non-cash charges added back $81.0M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $62.3M. Capital expenditures of $96.2M left free cash flow of $10.9M.
Questions
What was BKV's revenue in the fourth quarter 2025?
BKV (BKV) reported revenue of $505M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +153% from the quarter before.
Was BKV profitable in the fourth quarter 2025?
Operating profit was $187M (37.0% of revenue) and net earnings $76.4M.
Source: BKV 10-K on SEC EDGAR.