Filing Flows › Phoenix Energy One, LLC (PHXE-P) › Q3 2025
Phoenix Energy One, LLC (PHXE-P) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Phoenix Energy One, LLC (PHXE-P) reported revenue of $189M for the third quarter 2025 (Q3 2025), +220% from a year earlier and +15% from the quarter before. Operating margin was 24.5%, net earnings $8.5M (4.5% of revenue).
Phoenix Energy One, LLC, Q3 2025: revenue $189M (+220% year over year), operating margin 24.5%, net earnings $8.5M, operating cash flow $90.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $189M | +15% | +220% |
| Operating profit | $46.3M | -0.9% | +302% |
| Net earnings | $8.5M | -55% | — |
| Operating cash flow | $90.0M | +6% | +735% |
What changed
Revenue was $189.0M in Q3 2025, up 220% year over year and up 15% from the previous quarter. Product was the largest line at 60% of revenue. Product added $89.8M year over year (up 376%), 69% of the total change. Mineral and Royalty declined 9%.
Operating profit was $46.3M, a 24.5% margin (up 5.0 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 19% margin then. Total costs grew 200% against revenue growth of 220%. The fastest-growing cost line was Other operating costs (+345%). Net earnings were $8.5M. The effective tax rate was 0.0%.
Operating cash flow was $90.0M (up 735% year over year), 1061% of net earnings. Non-cash charges added back $45.5M of depreciation and amortization. Working capital and other items added $36.0M.
Questions
What was Phoenix Energy One, LLC's revenue in the third quarter 2025?
Phoenix Energy One, LLC (PHXE-P) reported revenue of $189M for the third quarter 2025 (Q3 2025), +220% from a year earlier and +15% from the quarter before.
Was Phoenix Energy One, LLC profitable in the third quarter 2025?
Operating profit was $46.3M (24.5% of revenue) and net earnings $8.5M.