Filing Flows › Talos Energy (TALO) › Q3 2025
Talos Energy (TALO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Talos Energy (TALO) reported revenue of $450M for the third quarter 2025 (Q3 2025), -12% from a year earlier and +6% from the quarter before. Operating margin was -19.1%, net loss $95.9M (21.3% of revenue).
Talos Energy, Q3 2025: revenue $450M (-12% year over year), operating margin -19.1%, net loss $95.9M, operating cash flow $114M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $450M | +6% | -12% |
| Operating profit | −$86.2M | — | — |
| Net earnings | −$95.9M | — | — |
| Operating cash flow | $114M | -68% | -50% |
| Free cash flow | $28.7M | -86% | -80% |
What changed
Revenue was $450.1M in Q3 2025, down 12% year over year and up 6% from the previous quarter. Oil and Condensate was the largest line at 89% of revenue. Oil and Condensate lost $67.4M year over year (down 14%), 114% of the total change.
Operating costs exceeded revenue by $86.2M, an operating margin of -19.1%. Total costs grew 10% against a revenue fall of 12%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $95.9M, narrower than the previous quarter's $185.9M loss.
Operating cash flow was $114.2M (down 50% year over year). Non-cash charges added back $262.6M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items used $57.5M. Capital expenditures of $85.5M left free cash flow of $28.7M.
Questions
What was Talos Energy's revenue in the third quarter 2025?
Talos Energy (TALO) reported revenue of $450M for the third quarter 2025 (Q3 2025), -12% from a year earlier and +6% from the quarter before.
Was Talos Energy profitable in the third quarter 2025?
Operating loss was $86.2M (-19.1% of revenue) and net loss $95.9M.
Source: Talos Energy 10-Q on SEC EDGAR.