Filing Flows › Dorchester Minerals, L.P. (DMLP) › Q2 2025
Dorchester Minerals, L.P. (DMLP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Dorchester Minerals, L.P. (DMLP) reported revenue of $32.4M for the second quarter 2025 (Q2 2025), -13% from a year earlier and -25% from the quarter before. Operating margin was 38.1%, net earnings $12.3M (38.1% of revenue).
Dorchester Minerals, L.P., Q2 2025: revenue $32.4M (-13% year over year), operating margin 38.1%, net earnings $12.3M, operating cash flow $30.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.4M | -25% | -13% |
| Operating profit | $12.3M | -30% | -48% |
| Net earnings | $12.3M | -30% | -48% |
| Operating cash flow | $30.5M | -9% | +4% |
What changed
Revenue was $32.4M in Q2 2025, down 13% year over year and down 25% from the previous quarter. Royalties was the largest line at 75% of revenue. Royalties lost $7.2M year over year (down 23%), 145% of the total change.
Operating profit was $12.3M, a 38.1% margin (down 25.1 points year over year). Total costs grew 46% against a revenue fall of 13%. The fastest-growing cost line was Other operating costs (+54%). Net earnings were $12.3M, down 48% year over year. The effective tax rate was 0.0%.
Operating cash flow was $30.5M (up 4% year over year), 247% of net earnings. Non-cash charges added back $14.7M of depreciation and amortization. Working capital and other items added $3.5M.
Questions
What was Dorchester Minerals, L.P.'s revenue in the second quarter 2025?
Dorchester Minerals, L.P.
Was Dorchester Minerals, L.P. profitable in the second quarter 2025?
Operating profit was $12.3M (38.1% of revenue) and net earnings $12.3M.