Filing Flows › HighPeak Energy (HPK) › Q2 2025
HighPeak Energy (HPK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
HighPeak Energy (HPK) reported revenue of $200M for the second quarter 2025 (Q2 2025), -27% from a year earlier and -22% from the quarter before. Operating margin was 21.7%, net earnings $26.2M (13.1% of revenue).
HighPeak Energy, Q2 2025: revenue $200M (-27% year over year), operating margin 21.7%, net earnings $26.2M, operating cash flow $141M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $200M | -22% | -27% |
| Operating profit | $43.4M | -52% | -50% |
| Net earnings | $26.2M | -28% | -12% |
| Operating cash flow | $141M | -10% | -30% |
| Free cash flow | $14.9M | — | -61% |
What changed
Revenue was $200.4M in Q2 2025, down 27% year over year and down 22% from the previous quarter.
Operating profit was $43.4M, a 21.7% margin (down 10.0 points year over year). Total costs fell 17% while revenue fell 27%. The fastest-growing cost line was SG&A (+20%). Net earnings were $26.2M, down 12% year over year. The effective tax rate was 22.6%.
Operating cash flow was $141.2M (down 30% year over year), 539% of net earnings. Non-cash charges added back $101.2M of depreciation and amortization and $88K of share-based compensation. Working capital and other items added $13.7M. Capital expenditures of $126.3M left free cash flow of $14.9M.
Questions
What was HighPeak Energy's revenue in the second quarter 2025?
HighPeak Energy (HPK) reported revenue of $200M for the second quarter 2025 (Q2 2025), -27% from a year earlier and -22% from the quarter before.
Was HighPeak Energy profitable in the second quarter 2025?
Operating profit was $43.4M (21.7% of revenue) and net earnings $26.2M.
Source: HighPeak Energy 10-Q on SEC EDGAR.