INFINITY NATURAL RESOURCES, INC. INR
We are a growth oriented independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Our operations are focused on the Utica Shale in eastern Ohio as well as our dry gas assets in both the Marcellus and Utica Shales in southwestern Pennsylvania, providing highly economic stacked development inventory that leverages shared infrastructure and operational efficiencies. Our portfolio is balanced across oil and natural gas assets, allowing us to optimize our development plan to respond to changes in commodity prices over time. Unless expressly stated otherwise, the operating and financial information presented in this Annual Report does not give effect to the completion of the Antero Acquisition or the Preferred Investment (each as defined herein).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $350.4M | $257.7M | $159.5M | — |
| SG&A | $153.4M | $13.0M | $4.9M | — |
| Total operating expenses | $344.5M | $165.3M | $109.0M | — |
| Operating income | $11.9M | $93.7M | $52.7M | — |
| Pre-tax income | $59.1M | $49.3M | $86.7M | — |
| Income tax | $4.9M | $0 | $0 | — |
| Net income | $13.8M | $0 | $86.7M | — |
| EPS, basic | 0.90 | 0.00 | 0.00 | — |
| EPS, diluted | 0.89 | 0.00 | 0.00 | — |
| Shares, diluted (wtd. avg.) | $61.0M | $0 | $0 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $2.8M | $2.2M | $1.5M | $739.0K |
| Receivables | $54.8M | $39.3M | — | — |
| Total current assets | $160.6M | $85.6M | — | — |
| Total assets | $1.24B | $915.5M | — | — |
| Accounts payable | $38.6M | $51.4M | — | — |
| Total current liabilities | $102.6M | $133.3M | — | — |
| Long-term debt | $55.0K | — | — | — |
| Total liabilities | $262.9M | $407.2M | — | — |
| Retained earnings | -$4.4M | $0 | — | — |
| Total equity | $307.1M | $0 | — | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $261.8M | $177.7M | $106.5M | — |
| Depreciation and amortisation | $103.8M | $73.7M | $53.8M | — |
| Stock-based compensation | $133.4M | $0 | $0 | — |
| Investing cash flow | -$430.2M | -$256.1M | -$436.7M | — |
| Financing cash flow | $169.0M | $79.2M | $331.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0002029118-26-000014.
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