Short answer
Excelerate Energy, Inc. (EE) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $1.2B (+44.3% year over year) and net income of $39M.
- Top risk flagged: Regulatory risk: inability to obtain necessary environmental, regulatory, construction, and zoning approvals for regasification terminals, risking project delays or cancellations
FY2025 key financial metrics · XBRL
- Revenue
- $1.2B
- +44.3% YoY
- Net income
- $39M
- +19.2% YoY
- Operating margin
- 21.7%
- −3.5 pp YoY
- EPS (diluted)
- $1.28
- +0.8% YoY
- ROE
- 1.8%
- +0.0 pp YoY
- Operating cash flow
- $461M
- +88.7% YoY
Source: XBRL data from the Excelerate Energy, Inc. (EE) FY2025 10-K on SEC EDGAR. USD.
Excelerate Energy, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Ownership and operation of integrated LNG infrastructure providing regasification and natural gas, LNG, power, and steam sales under long-term take-or-pay contracts
- New terminal under construction: Floating regasification terminal by HD Hyundai Heavy Industries, delivery Q2 2026, to serve a 5-year Iraq Ministry of Electricity regasification and LNG supply contract starting Q3 2026
- Strategic shift: Expansion via acquisition of New Fortress Energy’s Jamaican assets in May 2025, adding three LNG and power facilities and integrated operational infrastructure
- Notable metric: Minimum contracted cash flows $3,315.2M (terminals) and $17,031.2M (LNG, gas, power sales) with contract weighted average terms of 5.8 and 9.3 years respectively as of December 31, 2025
- Unusual fact: Operates 11 floating regasification terminals globally plus one onshore terminal and combined heat and power plant, largest provider in key emerging markets including Argentina, Bangladesh, Finland, Jamaica, UAE, and leading in Pakistan over past decade
Risk Factors
- Regulatory risk: inability to obtain necessary environmental, regulatory, construction, and zoning approvals for regasification terminals, risking project delays or cancellations
- Geopolitical risk: exposure to political instability and regulatory changes in foreign jurisdictions, including recent 2024 Bangladesh government change impacting operations
- Operational risk: dependence on primary EPC contractor performance without finalized contracts, exposing projects to cost overruns and delays
- Competitive risk: increased market competition from new entrants and state-sponsored LNG regasification providers potentially eroding contract wins and pricing power
- Financial risk: revenue concentration with three customers accounting for over 10% of revenues in 2024 and 2025, increasing exposure to customer payment defaults or contract terminations
Generated from the filing text; verify against the original. How to read a 10-K
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