Filing Flows › Phoenix Energy One, LLC (PHXE-P) › Q4 2025
Phoenix Energy One, LLC (PHXE-P) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 17, 2026
Phoenix Energy One, LLC (PHXE-P) reported revenue of $219M for the fourth quarter 2025 (Q4 2025), +115% from a year earlier and +16% from the quarter before. Operating margin was 19.9%, net earnings $33.3M (15.2% of revenue).
Phoenix Energy One, LLC, Q4 2025: revenue $219M (+115% year over year), operating margin 19.9%, net earnings $33.3M, operating cash flow $110M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $219M | +16% | +115% |
| Operating profit | $43.4M | -6% | +69% |
| Net earnings | $33.3M | +293% | — |
| Operating cash flow | $110M | +23% | +81% |
What changed
Revenue was $218.6M in Q4 2025, up 115% year over year and up 16% from the previous quarter.
Operating profit was $43.4M, a 19.9% margin (down 5.4 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, below the 25% margin then. Total costs grew 130% against revenue growth of 115%. The fastest-growing cost line was Other operating costs (+166%). Net earnings were $33.3M. The effective tax rate was 0.0%.
Operating cash flow was $110.5M (up 81% year over year), 332% of net earnings. Non-cash charges added back $64.5M of depreciation and amortization. Working capital and other items added $12.6M.
Questions
What was Phoenix Energy One, LLC's revenue in the fourth quarter 2025?
Phoenix Energy One, LLC (PHXE-P) reported revenue of $219M for the fourth quarter 2025 (Q4 2025), +115% from a year earlier and +16% from the quarter before.
Was Phoenix Energy One, LLC profitable in the fourth quarter 2025?
Operating profit was $43.4M (19.9% of revenue) and net earnings $33.3M.