Filing Flows › Talos Energy (TALO) › Q4 2025
Talos Energy (TALO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Talos Energy (TALO) reported revenue of $392M for the fourth quarter 2025 (Q4 2025), -19% from a year earlier and -13% from the quarter before. Operating margin was -62.2%, net loss $204M (51.9% of revenue).
Talos Energy, Q4 2025: revenue $392M (-19% year over year), operating margin -62.2%, net loss $204M, operating cash flow $202M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $392M | -13% | -19% |
| Operating profit | −$244M | — | — |
| Net earnings | −$204M | — | — |
| Operating cash flow | $202M | +77% | -42% |
| Free cash flow | $81.5M | +184% | -58% |
What changed
Revenue was $392.2M in Q4 2025, down 19% year over year and down 13% from the previous quarter. Oil and Condensate was the largest line at 88% of revenue.
Operating costs exceeded revenue by $244.0M, an operating margin of -62.2%. Total costs grew 39% against a revenue fall of 19%. The fastest-growing cost line was Other operating costs (+43%). The quarter ended with a net loss of $203.6M, wider than the previous quarter's $95.9M loss. Minority interests bore $1.0M of it: to shareholders the quarter was a loss of $202.6M.
Operating cash flow was $201.8M (down 42% year over year). Non-cash charges added back $243.2M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $157.2M. Capital expenditures of $120.3M left free cash flow of $81.5M.
Questions
What was Talos Energy's revenue in the fourth quarter 2025?
Talos Energy (TALO) reported revenue of $392M for the fourth quarter 2025 (Q4 2025), -19% from a year earlier and -13% from the quarter before.
Was Talos Energy profitable in the fourth quarter 2025?
Operating loss was $244M (-62.2% of revenue) and net loss $204M.
Source: Talos Energy 10-K on SEC EDGAR.