Filing Flows › Prairie Operating (PROP) › Q1 2026
Prairie Operating (PROP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Prairie Operating (PROP) reported revenue of $83.4M for the first quarter 2026 (Q1 2026), +514% from a year earlier and +0.5% from the quarter before. Operating margin was -229.1%, net loss $153M (183.0% of revenue).
Prairie Operating, Q1 2026: revenue $83.4M (+514% year over year), operating margin -229.1%, net loss $153M, operating cash flow $42.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $83.4M | +0.5% | +514% |
| Operating profit | −$191M | -1171% | -10999% |
| Net earnings | −$153M | — | — |
| Operating cash flow | $42.3M | -51% | +150% |
| Free cash flow | $8.2M | -77% | — |
What changed
Revenue was $83.4M in Q1 2026, up 514% year over year and roughly flat from the previous quarter. Crude Oil Sales was the largest line at 81% of revenue. Crude Oil Sales added $57.0M year over year (up 529%), 82% of the total change.
Operating costs exceeded revenue by $191.1M, an operating margin of -229.1%. Total costs grew 2219% against revenue growth of 514%. The fastest-growing cost line was Other operating costs (+3998%). The quarter ended with a net loss of $152.7M, wider than the previous quarter's $2.3M loss.
Operating cash flow was $42.3M (up 150% year over year). Non-cash charges added back $15.8M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $173.4M. Capital expenditures of $34.1M left free cash flow of $8.2M.
Questions
What was Prairie Operating's revenue in the first quarter 2026?
Prairie Operating (PROP) reported revenue of $83.4M for the first quarter 2026 (Q1 2026), +514% from a year earlier and +0.5% from the quarter before.
Was Prairie Operating profitable in the first quarter 2026?
Operating loss was $191M (-229.1% of revenue) and net loss $153M.
Source: Prairie Operating 10-Q on SEC EDGAR.