Filing Flows › Viper Energy (VNOM) › Q3 2025
Viper Energy (VNOM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Viper Energy (VNOM) reported revenue of $418M for the third quarter 2025 (Q3 2025), +98% from a year earlier and +41% from the quarter before. Operating margin was -42.1%, net loss $197M (47.1% of revenue).
Viper Energy, Q3 2025: revenue $418M (+98% year over year), operating margin -42.1%, net loss $197M, operating cash flow $281M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $418M | +41% | +98% |
| Operating profit | −$176M | — | — |
| Net earnings | −$197M | — | — |
| Operating cash flow | $281M | +63% | — |
What changed
Revenue was $418.0M in Q3 2025, up 98% year over year and up 41% from the previous quarter. Oil income was the largest line at 79% of revenue. Oil income added $145.0M year over year (up 78%), 70% of the total change.
Operating costs exceeded revenue by $176.0M, an operating margin of -42.1%. Total costs grew 692% against revenue growth of 98%. The quarter ended with a net loss of $197.0M, after a profit of $84.0M the previous quarter. Minority interests bore $120.0M of it: to shareholders the quarter was a loss of $77.0M.
Operating cash flow was $281.0M. Working capital and other items added $478.0M.
Questions
What was Viper Energy's revenue in the third quarter 2025?
Viper Energy (VNOM) reported revenue of $418M for the third quarter 2025 (Q3 2025), +98% from a year earlier and +41% from the quarter before.
Was Viper Energy profitable in the third quarter 2025?
Operating loss was $176M (-42.1% of revenue) and net loss $197M.
Source: Viper Energy 10-Q on SEC EDGAR.