Filing Flows › HighPeak Energy (HPK) › Q4 2025
HighPeak Energy (HPK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
HighPeak Energy (HPK) reported revenue of $217M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and +15% from the quarter before. Operating margin was -7.6%, net loss $25.2M (11.6% of revenue).
HighPeak Energy, Q4 2025: revenue $217M (-23% year over year), operating margin -7.6%, net loss $25.2M, operating cash flow $93.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $217M | +15% | -23% |
| Operating profit | −$16.4M | -150% | -122% |
| Net earnings | −$25.2M | — | -381% |
| Operating cash flow | $93.1M | -23% | -33% |
What changed
Revenue was $216.6M in Q4 2025, down 23% year over year and up 15% from the previous quarter. Crude Oil Sales was the largest line at 70% of revenue.
Operating costs exceeded revenue by $16.4M, an operating margin of -7.6%. Total costs grew 12% against a revenue fall of 23%. The fastest-growing cost line was Other operating costs (+13%). The quarter ended with a net loss of $25.2M, wider than the previous quarter's $18.3M loss. Net interest and other expense of $15.6M was the main reason.
Operating cash flow was $93.1M (down 33% year over year). Non-cash charges added back $110.6M of depreciation and amortization and $177K of share-based compensation. Working capital and other items added $7.5M. Capital expenditures of $121.0M exceeded it, leaving free cash flow of −$27.9M.
Questions
What was HighPeak Energy's revenue in the fourth quarter 2025?
HighPeak Energy (HPK) reported revenue of $217M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and +15% from the quarter before.
Was HighPeak Energy profitable in the fourth quarter 2025?
Operating loss was $16.4M (-7.6% of revenue) and net loss $25.2M.
Source: HighPeak Energy 10-K on SEC EDGAR.