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Fervo Energy (FRVO) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Fervo Energy (FRVO) Q2 2026 earnings results →
Fervo Energy made $113K in Q2 2026. Operating margin n/m, net loss $55.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $113K in Q2 2026, up 85% from the previous quarter.
Operating costs exceeded revenue by $28.7M, an operating margin of -25435.4%. The quarter ended with a net loss of $55.9M, wider than the previous quarter's $31.8M loss.
Operating cash flow was −$34.7M. Non-cash charges added back $344K of depreciation and amortization and $8.2M of share-based compensation. Working capital and other items added $12.6M. Capital expenditures of $226.5M exceeded it, leaving free cash flow of −$261.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $113K | — | n/m | −$55.9M | −$34.7M |
| Q1 2026 | 10-Q | Jun 23, 2026 | $61K | — | n/m | −$31.8M | −$9.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Fervo Energy
Fervo Energy (NASDAQ: FRVO) is a modern power company built around one of the market’s most important needs: affordable, dependable new power supply. Through the large-scale deployment of enhanced geothermal
In its own words, from its 8-K, filed Aug 12, 2026.
Fervo Energy against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FRVO Fervo Energy | Q2 2026 | $113K | — | n/m |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Fervo Energy 10-Q on SEC EDGAR · CIK 1853868 · Electric Services
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History
Every quarter: Q2 2026 results · Q1 2026 results