← Granite Ridge Resources, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | ($4.7m) | — | — | ($296k) |
($23.9m)
-7988.07%
|
$108.5m
+553.23%
|
$262.3m
+141.88%
|
$81.1m
-69.09%
|
$18.8m
-76.87%
|
$24.4m
+29.82%
|
($27.6m)
-213.23%
|
|
| Net loss | — | — | — | ($5.5m) | ($6.0m) | ($7.6m) | ($9.1m) | — | — | — | — | |
| Net loss from continuing operations | ($3.2m) | ($3.0m) | ($41k) | ($296k) | ($301k) | — | — | — | — | — | — | |
| Amortization of deferred financing costs and original issue discount | — | — | — | — | $108k | $48k | $159k | $1.3m | $3.5m | $2.2m | — | |
| Depreciation | $16k | $20k | $189 | $105k | $98k | $118k | $124k | — | — | — | $221.5m | |
| Depreciation and amortization | $501 | $255 | $189 | $0 | $0 | $118k | $124k | — | — | — | $221.5m | |
| Deferred income taxes | ($553k) | ($72k) | — | — | — | $0 | $12.8m | $24.3m | $6.0m | $7.4m | ($7.8m) | |
| Deferred Tax | — | — | — | — | — | — | $12.8m | $24.3m | $6.0m | $7.4m | ($7.8m) | |
| Stock-based compensation | $489k | $678k | — | $41k | $0 | $0 | $0 | $2.2m | $2.3m | $3.8m | $5.4m | |
| Share-based compensation | — | — | — | $340k | $538k | $735k | $997k | — | — | — | $5.4m | |
| Impairments of long-lived assets | — | — | — | — | $5.7m | $0 | $0 | $26.5m | $36.4m | $44.7m | — | |
| Impairment of mineral properties | $0 | $295 | — | — | — | — | — | — | — | — | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $26.5m | $36.4m | $44.7m | $65.0m | |
| (Gain) loss on equity investments | — | — | — | — | — | — | $0 | ($508k) | $15.2m | $15.8m | — | |
| Proceeds from the sale of equity investments | — | — | — | — | — | — | $0 | $0 | $3.5m | $5.0m | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | $0 | ($508k) | $15.2m | $15.8m | ($4.4m) | |
| Cash Flows Used In Operations Before Changes In Working Capital | — | — | — | ($1.5m) | ($1.5m) | ($2.1m) | ($2.4m) | — | — | — | — | |
| Change In Working Capital | — | — | — | — | — | — | ($17.2m) | $4.6m | $860k | $5.5m | ($9.7m) | |
| Increase in receivables and prepaids | — | — | — | ($54k) | ($8k) | ($27k) | ($1k) | — | — | — | — | |
| (Increase) decrease in receivables and prepaid expenses | $113k | ($351k) | — | — | — | — | — | — | — | — | ($24.3m) | |
| Change In Receivables | — | — | — | — | — | — | ($25.0m) | ($846k) | $3.3m | ($4.4m) | ($24.3m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($25.0m) | ($846k) | $3.3m | ($4.4m) | ($24.3m) | |
| Accounts payable and accrued liabilities | ($949k) | ($102k) | — | — | — | — | — | $4.5m | ($1.2m) | $9.6m | — | |
| Change in accrued capital expenditures included in accounts payable and accrued liabilities | — | — | — | — | — | — | — | ($12.3m) | $36.7m | ($10.9m) | — | |
| Increase (decrease) in accounts payable and accrued liabilities | — | — | — | ($260k) | $53k | ($25k) | $126k | — | — | — | — | |
| Writeback of accounts payable | — | — | — | — | — | $0 | $0 | ($288k) | $0 | ($10k) | — | |
| Accounts payable | ($21k) | $5k | $48k | ($6k) | $40k | ($242k) | ($28k) | ($9k) | ($26k) | ($12k) | — | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $9.8m | $4.9m | ($1.2m) | $9.3m | $5.1m | |
| Deferred revenue finance costs | — | — | — | $3.2m | $3.5m | $4.0m | $4.2m | — | — | — | — | |
| Accrued liabilities | $41k | $414 | ($41k) | $26k | ($4k) | ($70k) | ($10k) | $35k | $45k | ($80k) | $12.9m | |
| Change In Accrued Expense | — | — | — | — | — | — | $9.8m | $4.5m | ($1.2m) | $9.6m | $12.9m | |
| Other | $3k | $11k | — | $5k | — | $0 | $0 | ($313k) | ($1.0m) | ($359k) | — | |
| Prepaid and other current assets | — | — | — | — | $1.4m | ($125k) | ($2.1m) | $485k | ($1.4m) | $693k | — | |
| Other liabilities | — | — | — | — | $4k | $10k | $5k | $350k | ($47k) | ($258k) | — | |
| (Increase) decrease in other assets | $7k | ($3k) | — | — | — | — | — | — | — | — | — | |
| Net cash provided by operating activities | ($10.2m) |
($3.0m)
+70.64%
|
($324k)
+89.18%
|
($271k)
+16.31%
|
$66.8m
+24721.13%
|
$181.2m
+171.20%
|
$346.4m
+91.18%
|
$302.9m
-12.56%
|
$275.7m
-8.96%
|
$296.4m
+7.50%
|
$256.2m
-13.56%
|
|
| Capital expenditures for oil and natural gas properties | — | — | — | — | ($99.5m) | ($136.1m) | ($185.5m) | ($282.4m) | ($285.8m) | ($300.8m) | ($358.6m) | |
| Purchase of equipment | ($6k) | ($100k) | — | — | — | ($33k) | ($234.7m) | ($359.2m) | ($347.0m) | ($419.3m) | — | |
| Proceeds from sale of equipment and other | $40k | $0 | — | — | — | — | — | — | — | — | — | |
| Mineral property interests | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Capital Expenditure Reported | — | — | — | — | — | — | ($185.5m) | ($282.4m) | ($285.8m) | ($300.8m) | ($358.6m) | |
| Gain on sale of investments | — | — | — | ($123k) | — | — | — | — | — | — | — | |
| Proceeds from sale of investments | — | — | — | $1.0m | — | — | — | — | — | — | — | |
| Net Other Investing Changes | — | — | — | — | — | — | $1.2m | $2.5m | $19.7m | $4.3m | $1.7m | |
| Net cash used in investing activities | $34k | ($8.9m) | — | $79k | ($116.7m) | ($186.0m) | ($230.6m) | ($356.7m) | ($310.8m) | ($409.8m) | ($340.0m) | |
| Cash provided by investing activities | $0 | — | — | — | — | — | — | — | — | — | — | |
| Proceeds from borrowing on credit facilities | — | — | — | — | $36.5m | $62.0m | $21.0m | $162.5m | $110.0m | $190.0m | — | |
| Repayments of borrowing on credit facilities | — | — | — | — | ($54.5m) | ($49.4m) | ($72.1m) | ($52.5m) | ($15.0m) | ($345.0m) | — | |
| Issuance Of Debt | — | — | — | — | — | — | $21.0m | $162.5m | $110.0m | $526.0m | $536.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $21.0m | $162.5m | $110.0m | $526.0m | $536.0m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($72.1m) | ($52.5m) | ($15.0m) | ($345.0m) | ($350.0m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($51.1m) | $110.0m | $95.0m | $181.0m | $186.0m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($51.1m) | $110.0m | $95.0m | $181.0m | $186.0m | |
| Net Short Term Debt Issuance | — | — | — | — | — | $12.6m | ($51.1m) | $110.0m | — | — | $110.0m | |
| Repayment Of Debt | — | — | — | — | — | — | ($72.1m) | ($52.5m) | ($15.0m) | ($345.0m) | ($350.0m) | |
| Short Term Debt Issuance | — | — | — | — | — | $62.0m | $21.0m | $162.5m | — | — | $145.0m | |
| Short Term Debt Payments | — | — | — | — | — | ($49.4m) | ($72.1m) | ($52.5m) | — | — | ($35.0m) | |
| Loss on derivatives - common stock warrants | — | — | — | — | — | $0 | ($362k) | $5.7m | $0 | $0 | — | |
| Proceeds from issuance of common stock | $53k | $393k | $263k | $187k | $0 | $0 | $6.8m | $5k | $0 | $0 | $0 | |
| Proceeds from issuance of capital stock - private placement | $0 | $5.0m | — | — | — | — | — | — | — | — | — | |
| Proceeds from issuance of capital stock - stock options | $53k | $199k | — | — | — | — | — | — | — | — | — | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($10.7m) | ($58.6m) | ($57.5m) | ($57.7m) | ($57.8m) | |
| Common Stock Issuance | — | — | — | — | — | — | $6.8m | $5k | $0 | $0 | $0 | |
| Common Stock Payments | — | — | — | — | — | — | ($216k) | ($35.4m) | ($442k) | ($16k) | ($30k) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $6.8m | $5k | $0 | $0 | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | — | $6.6m | ($35.3m) | ($442k) | ($16k) | ($30k) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($216k) | ($35.4m) | ($442k) | ($16k) | ($30k) | |
| Payment of dividends | — | — | — | — | — | $0 | ($10.7m) | ($58.6m) | ($57.5m) | ($57.7m) | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($10.7m) | ($58.6m) | ($57.5m) | ($57.7m) | ($57.8m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($21.7m) | ($2.7m) | ($3.3m) | ($4.5m) | ($4.5m) | |
| Net cash provided by financing activities | $612k |
$5.2m
+755.72%
|
$263k
-94.97%
|
$187k
-28.94%
|
$52.1m
+27726.85%
|
$8.5m
-83.70%
|
($76.8m)
-1005.27%
|
$13.4m
+117.44%
|
$33.7m
+151.56%
|
$118.8m
+252.33%
|
$124.1m
+4.44%
|
|
| Cash provided by financing activities | $0 | $393k |
$263k
-32.94%
|
$187k
-28.94%
|
— | — | — | — | — | — | — | |
| (Decrease) increase in cash and cash equivalents | — | — | — | ($815k) | $1.7m | ($191k) | ($450k) | — | — | — | — | |
| Cash and restricted cash at beginning of year | — | — | — | $6k | $8.5m | $12.2m | $51.1m | $10.7m | $9.4m | $14.8m | — | |
| Cash and cash equivalents - beginning of year | $22.7m | $13.3m | — | $6.2m | $5.4m | $7.3m | $7.1m | — | — | — | — | |
| Beginning Cash Position | — | — | — | — | — | — | $12.2m | $51.1m | $10.7m | $9.4m | $3.7m | |
| Net change in cash and restricted cash | — | — | — | — | — | $3.6m | $39.0m | ($40.4m) | ($1.3m) | $5.4m | — | |
| Restricted cash included in other long-term assets | — | — | — | — | $300k | $300k | $300k | $300k | $0 | $0 | — | |
| Effect of exchange rate changes on cash and cash equivalents | — | — | — | $41k | $146k | $21k | ($231k) | — | — | — | — | |
| Effect of exchange rate changes on cash | $165k | $508k | — | — | — | — | — | — | — | — | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Depletion and accretion expense | — | — | — | — | $79.9m | $94.7m | $105.8m | $160.7m | $176.5m | $215.7m | — | |
| Unrealized (gain) loss on derivatives - commodity derivatives | — | — | — | — | — | — | — | ($2.6m) | $17.3m | ($22.7m) | — | |
| Revenue receivable | — | — | — | $50k | $5.5m | ($28.6m) | ($25.0m) | ($846k) | $3.3m | ($4.4m) | — | |
| Acquisition of oil and natural gas properties | — | — | — | — | ($17.9m) | ($83.2m) | ($49.2m) | ($76.8m) | ($61.2m) | ($118.5m) | — | |
| Deposit on acquisition | — | — | — | — | — | $0 | ($1.9m) | $0 | ($887k) | $0 | — | |
| Refund of advances to operators | — | — | — | — | — | $3.8m | $1.2m | $2.5m | $19.7m | $4.3m | — | |
| Proceeds from the disposal of oil and natural gas properties | — | — | — | — | $647k | $29.4m | $4.8m | $60k | $14.0m | $175k | — | |
| Proceeds from senior notes, net of discount | — | — | — | — | — | — | — | $0 | $0 | $336.0m | — | |
| Deferred financing costs | — | — | — | — | — | $0 | ($3.2m) | ($2.6m) | ($3.3m) | ($4.5m) | — | |
| Payment of expenses related to formation of Granite Ridge Resources, Inc. | — | — | — | — | — | $0 | ($18.5m) | ($43k) | $0 | $0 | — | |
| Purchase of treasury shares | — | — | — | — | — | $0 | ($216k) | ($35.4m) | ($442k) | ($16k) | — | |
| Cash paid during the year for interest, net of capitalized interest | — | — | — | — | ($1.3m) | ($1.6m) | ($2.3m) | ($4.8m) | ($14.5m) | ($24.7m) | — | |
| Cash paid during the year for income taxes, net of refunds | — | — | — | — | $65k | ($79k) | ($98k) | ($742k) | ($197k) | ($549k) | — | |
| Oil and natural gas properties divested in exchange for equity securities | — | — | — | — | — | $0 | $0 | $49.9m | $0 | $0 | — | |
| Advances to operators applied to development of oil and natural gas properties | — | — | — | — | $38.3m | $48.4m | $103.5m | $98.2m | $121.9m | $150.7m | — | |
| Cash | $17k | — | — | — | $8.2m | $11.9m | $50.8m | $10.4m | $9.4m | $14.8m | $256.2m | |
| Cash flows used in operating activities | ||||||||||||
| Loss from equity investee | $237k | $215k | — | $273k | $186k | $235k | $509k | — | — | — | — | |
| Interest expense | $279k | $287k | — | $319k | $335k | $365k | $369k | — | — | — | — | |
| Finance cost, net | — | — | — | $29k | $19k | $6k | $62k | — | — | — | — | |
| Unrealized foreign exchange loss (gains) | — | — | — | ($176k) | ($167k) | ($48k) | $372k | — | — | — | — | |
| Cash flows used in investing activities | ||||||||||||
| Repayment of lease liability | — | — | — | ($80k) | ($118k) | ($88k) | ($71k) | — | — | — | — | |
| Proceeds from issuance of common shares – share options | — | — | — | $46k | $120k | $88k | $155k | — | — | — | — | |
| Proceeds from issuance of common shares – warrants | — | — | — | — | — | $2.0m | $1.8m | — | — | — | — | |
| Proceeds from issuance of common shares – private placement | — | — | — | — | $3.3m | — | — | — | — | — | — | |
| Share issuance costs | — | — | — | — | ($85k) | — | — | — | — | — | — | |
| Cash Flows From (Used In) Used In Financing Activities | — | — | — | ($34k) | $3.2m | $2.0m | $1.9m | — | — | — | — | |
| Cash Flows From (Used In) Used In Investing Activities | — | — | — | $1.0m | — | ($33k) | $0 | — | — | — | — | |
| Unrealized foreign exchange (gains) losses | $324k | ($1.3m) | — | — | — | — | — | — | — | — | — | |
| Cash flows used in operating activities before change in non-cash operating working capital | ($2.4m) | ($3.1m) | ($324k) | ($1.8m) | $66.8m | $181.2m | $346.4m | $302.9m | $275.7m | $296.4m | $256.2m | |
| Deposit on metal credit obligation | ($5.5m) | $0 | — | — | — | — | — | — | — | — | — | |
| Discontinued operations | ($1.5m) | $604k | $0 | $0 | $0 | — | — | — | — | — | — | |
| Cash paid in connection with the Arrangement | $0 | ($8.8m) | — | — | — | — | — | — | — | — | — | |
| Subscriptions received in advance | $559k | $0 | — | — | — | — | — | — | — | — | — | |
| Decrease in cash and cash equivalents | ($9.6m) | ($6.7m) | — | — | — | — | — | — | — | — | — | |
| Cash and cash equivalents - end of year | $13.3m | $7.1m | $69k | $6k | $1k | — | — | — | — | — | — | |
| Gain on release of reclamation deposits | ($24k) | — | — | — | — | — | — | — | — | — | — | |
| Reclamation deposits | $24k | — | — | — | — | — | — | — | — | — | — | |
| Prepaid expenses | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Change in cash and cash equivalents during the period | ($122k) | $52k | ($61k) | ($5k) | ($241) | — | — | — | — | — | — | |
| Accretion expense on government loan | — | — | — | $0 | $598 | $897 | $896 | $898 | $0 | $0 | — | |
| Unrealized foreign exchange | — | — | — | — | — | $0 | $0 | $8k | $0 | $0 | — | |
| Allowance for doubtful accounts | — | — | — | — | — | — | $0 | $0 | $15k | $0 | — | |
| Due to related parties | $133k | $26k | $44k | $114k | $73k | $293k | $300k | $89k | $171k | $285k | — | |
| Advances receivable | — | — | ($15k) | ($2k) | $961 | ($679) | $734 | ($4k) | $858 | $3k | — | |
| Loan repayment | — | — | — | — | — | — | $0 | $0 | ($27k) | $0 | — | |
| Net cash (outflow) inflow | — | — | — | ($5k) | ($241) | $3k | $6k | $17k | ($25k) | ($536) | — | |
| Fair value gain on government loan | — | — | — | $0 | ($5k) | $0 | $0 | — | — | — | — | |
| Gain on settlement | — | — | — | ($300k) | $0 | $0 | — | — | — | — | — | |
| Loss on disposal of investment in shares | — | — | — | $121k | $0 | $0 | — | — | — | — | — | |
| Gain on common share purchase warrants | ($11k) | $34k | ($308k) | ($60k) | $0 | $0 | — | — | — | — | — | |
| Due from related parties | $7k | ($104k) | ($12k) | $41k | $116k | $319 | $0 | $0 | — | — | — | |
| Proceeds on disposal of investment in shares | — | — | — | $79k | $0 | $0 | — | — | — | — | — | |
| Loan received | — | — | — | $0 | $29k | $0 | $0 | — | — | — | — | |
| Cash outflows from discontinued operations | $10k | ($469) | ($2k) | — | — | — | — | — | — | — | — | |
| Continuing operations | $1k | $67k | $6k | $1k | $793 | — | — | — | — | — | — | |
| Cash, end of the year | $17k | $69k | $6k | $1k | $793 | — | — | — | — | — | — | |
| Loss from discontinued operation | $0 | — | — | — | — | — | — | — | — | — | — | |
| Cash utilized in operating activities | ($122k) | ($341k) | ($324k) | ($1.8m) | $66.8m | $181.2m | $346.4m | $302.9m | $275.7m | $296.4m | $256.2m | |
| Proceeds from sale of discontinued operations | $0 | — | — | — | — | — | — | — | — | — | — | |
| Purchase of capital assets | $0 | — | — | — | — | — | — | — | — | — | — | |
| Purchase of a certificate of deposit | $0 | — | — | — | — | — | — | — | — | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($76.8m) | $13.4m | $33.7m | $118.8m | $124.1m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($230.6m) | ($356.7m) | ($310.8m) | ($409.8m) | ($340.0m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $39.0m | ($40.4m) | ($1.3m) | $5.4m | — | |
| Change In Payable | — | — | — | — | — | — | $5k | $350k | ($47k) | ($258k) | $5.1m | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($2.1m) | $588k | ($1.2m) | $693k | ($3.5m) | |
| Changes In Cash | — | — | — | — | — | — | $39.0m | ($40.4m) | ($1.3m) | $5.4m | $40.3m | |
| End Cash Position | — | — | — | — | — | — | $51.1m | $10.7m | $9.4m | $14.8m | $44.1m | |
| Financing Cash Flow | — | — | — | — | — | — | ($76.8m) |
$13.4m
+117.44%
|
$33.7m
+151.56%
|
$118.8m
+252.33%
|
$124.1m
+4.44%
|
|
| Free Cash Flow | — | — | — | — | — | — | $111.7m | ($56.3m) | ($71.3m) | ($122.8m) | ($102.4m) | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | ($17.5m) | $3.1m | $17.3m | ($22.7m) | $10.0m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | ($2.3m) | $0 | $0 | — | — | $0 | |
| Investing Cash Flow | — | — | — | — | — | — | ($230.6m) | ($356.7m) | ($310.8m) | ($409.8m) | ($340.0m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($1.9m) | $0 | $2.6m | $5.0m | $5.0m | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($44.3m) | ($76.8m) | ($47.2m) | ($118.3m) | ($98.3m) | |
| Operating Gains Losses | — | — | — | — | — | — | ($17.5m) | $2.6m | $32.5m | ($6.8m) | $5.6m | |
| Other Non Cash Items | — | — | — | — | — | — | $159k | $947k | $2.5m | $1.8m | — | |
| Purchase Of Business | — | — | — | — | — | — | ($1.9m) | $0 | ($887k) | $0 | $0 | |
| Purchase Of PPE | — | — | — | — | — | — | ($49.2m) | ($76.8m) | ($61.2m) | ($118.5m) | ($358.6m) | |
| Sale Of Business | — | — | — | — | — | — | $0 | $0 | $3.5m | $5.0m | $5.0m | |
| Sale Of PPE | — | — | — | — | — | — | $4.8m | $60k | $14.0m | $175k | $1.5m |