Short answer
HighPeak Energy, Inc. (HPK) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $189M (down 30.5% year over year) with net income of −$18M.
Q3 2025 key financials · XBRL
- Revenue
- $189M
- −30.5% YoY · −5.8% QoQ
- Net income
- −$18M
- −136.7% YoY · −170.0% QoQ
- Operating margin
- 17.3%
- EPS (diluted)
- −$0.13
- −137.1% YoY · −168.4% QoQ
Source: XBRL data from the HighPeak Energy, Inc. (HPK) Q3 2025 10-Q on SEC EDGAR. USD.
HighPeak Energy, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $188.9M, down 30% YoY from $271.6M, driven by lower realized prices and sales volumes
- Net loss $18.3M vs net income $49.9M YoY, with realized price per Boe $42.91 vs $57.49
- Crude oil worst-performing line: volumes 31,594 Bbls/day, down 18%; natural gas strongest, up 30% to 47,795 Mcf/day
- Operating cash flow $120.2M vs $177.1M YoY; $399.1M nine-month costs incurred, including $290.0M development
- Outlook: one to two rigs, flexible capital plan amid OPEC+ supply increases, tariffs, trade-war risks and commodity-price volatility
Risk Factors
- Newly added tariff risk triggered by April 2, 2025 U.S. baseline tariff announcement, potentially increasing drilling and development costs
- Most materially updated ownership risk: expected HighPeak II Distribution could end controlled-company status while trusts retain approximately 35.8% ownership
- Regulatory risk from changing trade policies, sanctions, and climate regulation affecting supply chains, commodity prices, and market access
- Near-term commodity risk: September 2025 NYMEX WTI averaged $63.53 per Bbl, pressuring drilling economics and development plans
- Liquidity risk: 2025 capital expenditures projected at $448–$490 million against limited liquidity and uncertain operating cash flow
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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