VAALCO Energy (EGY) Financial Statements & Analysis

VAALCO Energy (EGY) Income Statement

VAALCO Energy reported revenue of $359.27M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 25.0% from $478.99M a year earlier. VAALCO Energy posted a net loss of $41.39M, compared with net income of $58.49M a year earlier. Gross margin was 56.0% and operating margin -5.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $135.17M, up 5.0% from the same quarter a year earlier.

VAALCO Energy Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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VAALCO Energy, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	359.27	478.99	455.07	354.33	354.33	199.08	67.18	96.77	104.94	77.03
Cost of Revenue	158.18	306.53	160.64	160.80	121.53	81.26	37.32	57.02	46.01	46.15
Gross Profit	201.10	172.45	301.91	193.52	241.67	117.82	29.86	39.75	58.93	30.87
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	33.09	29.68	23.84	10.08	10.08	14.77	10.70	14.86	11.40	10.38
Operating Expenses	221.70	35.96	143.25	22.25	70.39	38.72	19.92	18.56	7.72	10.47
Operating Income	-20.61	136.50	158.66	171.28	171.28	79.10	9.94	21.19	51.29	19.95
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	-	0.01	0.16	0.73	0.00	0.00
Interest Expense	8.24	3.73	-6.45	2.03	-2.03	0.00	0.00	0.00	0.15	1.41
Other Income/Expense	-5.96	7.03	-8.53	-47.97	-47.97	-19.32	-0.07	-0.15	4.19	0.70
Income
Income Before Tax	-26.57	139.80	150.13	123.31	123.31	59.78	-20.40	21.04	55.47	20.65
Income Tax Expense	14.82	81.31	89.78	71.42	71.42	-22.16	27.68	23.89	-43.25	10.38
Net Income	-41.39	58.49	60.35	51.89	51.89	81.84	-48.18	2.56	98.23	9.65
Net Income - Continuous Operations	-41.39	58.49	60.35	51.89	51.89	81.84	-48.18	2.56	98.23	9.65
Net Income - Discontinued Operations	-	-	-0.02	-	-0.07	-0.10	-	-	-	-
EBITDA	159.47	286.56	274.19	173.49	181.61	77.33	19.50	28.18	61.22	25.08
EBIT	49.49	143.53	158.89	-	133.46	56.27	9.94	-	-	-
Depreciation & Amortization	109.98	143.03	115.30	48.14	48.14	21.06	9.56	7.32	5.60	6.46
Earnings Per Share
Basic EPS	-	1.00	1.00	1.00	1.00	1.00	-1.00	-	2.00	-
Diluted EPS	-	1.00	1.00	1.00	1.00	1.00	-1.00	-	2.00	-
Basic Shares Outstanding	104.06	103.67	106.38	69.57	69.57	58.23	57.59	59.14	59.25	58.72
Diluted Shares Outstanding	104.06	103.75	106.56	69.98	69.98	58.76	57.59	59.14	60.00	58.72

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About VAALCO Energy Financial Statements

What was VAALCO Energy's revenue in fiscal 2025?

VAALCO Energy reported revenue of $359.27M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 25.0% from $478.99M a year earlier.

Is VAALCO Energy profitable?

No. VAALCO Energy reported a net loss of $41.39M in fiscal 2025. In fiscal 2024 it earned $58.49M.

What is VAALCO Energy's operating margin?

VAALCO Energy's operating income was −$20.61M on revenue of $359.27M in fiscal 2025, an operating margin of -5.7%, compared with 28.5% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition