← 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
Net income ($4.7m) — — ($296k) ($23.9m) $108.5m $262.3m $81.1m $18.8m $24.4m
Net Income From Continuing Operations — — — — — — $262.3m $81.1m $18.8m $24.4m
Net loss from continuing operations ($3.2m) ($3.0m) ($41k) ($296k) ($301k) — — — — —
Discontinued operations ($1.5m) $604k $0 $0 $0 — — — — —
Cash outflows from discontinued operations $10k ($469) ($2k) — — — — — — —
Continuing operations $1k $67k $6k $1k $793 — — — — —
Proceeds from sale of discontinued operations $0 — — — — — — — — —
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 — — —
Depreciation and amortization $501 $255 $189 $0 $0 $118k $124k — — —
Depreciation Amortization Depletion — — — — — — $105.8m $160.7m $176.5m $215.7m
Deferred income taxes ($553k) ($72k) — — — $0 $12.8m $24.3m $6.0m $7.4m
Deferred Income Tax — — — — — — $12.8m $24.3m $6.0m $7.4m
Deferred Tax — — — — — — $12.8m $24.3m $6.0m $7.4m
Impairments of long-lived assets — — — — $5.7m $0 $0 $26.5m $36.4m $44.7m
Share-based compensation — — — $340k $538k $735k $997k — — —
Impairment of mineral properties $0 $295 — — — — — — — —
Asset Impairment Charge — — — — — — $0 $26.5m $36.4m $44.7m
(Gain) loss on equity investments — — — — — — $0 ($508k) $15.2m $15.8m
Proceeds from the sale of equity investments — — — — — — $0 $0 $3.5m $5.0m
Interest expense $279k $287k — $319k $335k $365k $369k — — —
Earnings (Loss)es From Equity Investments — — — — — — $0 ($508k) $15.2m $15.8m
Cash Flows Used In Operations Before Changes In Working Capital — — — ($1.5m) ($1.5m) ($2.1m) ($2.4m) — — —
Cash flows used in operating activities
Cash flows used in investing activities
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)
Stock-based compensation $489k $678k — $41k $0 $0 $0 $2.2m $2.3m $3.8m
Loss on derivatives - common stock warrants — — — — — $0 ($362k) $5.7m $0 $0
Other $3k $11k — $5k — $0 $0 ($313k) ($1.0m) ($359k)
Revenue receivable — — — $50k $5.5m ($28.6m) ($25.0m) ($846k) $3.3m ($4.4m)
Accounts payable and accrued liabilities ($949k) ($102k) — — — — — $4.5m ($1.2m) $9.6m
Prepaid and other current assets — — — — $1.4m ($125k) ($2.1m) $485k ($1.4m) $693k
Other liabilities — — — — $4k $10k $5k $350k ($47k) ($258k)
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 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)
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)
Change in accrued capital expenditures included in accounts payable and accrued liabilities — — — — — — — ($12.3m) $36.7m ($10.9m)
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
Net loss — — — ($5.5m) ($6.0m) ($7.6m) ($9.1m) — — —
Loss from equity investee $237k $215k — $273k $186k $235k $509k — — —
Finance cost, net — — — $29k $19k $6k $62k — — —
Unrealized foreign exchange loss (gains) — — — ($176k) ($167k) ($48k) $372k — — —
Deferred revenue finance costs — — — $3.2m $3.5m $4.0m $4.2m — — —
Increase in receivables and prepaids — — — ($54k) ($8k) ($27k) ($1k) — — —
Increase (decrease) in accounts payable and accrued liabilities — — — ($260k) $53k ($25k) $126k — — —
Purchase of equipment ($6k) ($100k) — — — ($33k) ($234.7m) ($359.2m) ($347.0m) ($419.3m)
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
(Increase) decrease in receivables and prepaid expenses $113k ($351k) — — — — — — — —
(Increase) decrease in other assets $7k ($3k) — — — — — — — —
Deposit on metal credit obligation ($5.5m) $0 — — — — — — — —
Cash paid in connection with the Arrangement $0 ($8.8m) — — — — — — — —
Proceeds from sale of equipment and other $40k $0 — — — — — — — —
Mineral property interests $0 $0 — — — — — — — —
Proceeds from issuance of capital stock - private placement $0 $5.0m — — — — — — — —
Proceeds from issuance of capital stock - stock options $53k $199k — — — — — — — —
Subscriptions received in advance $559k $0 — — — — — — — —
Gain on release of reclamation deposits ($24k) — — — — — — — — —
Reclamation deposits $24k — — — — — — — — —
Prepaid expenses $0 $0 — — — — — — — —
Accretion expense on government loan — — — $0 $598 $897 $896 $898 $0 $0
Writeback of accounts payable — — — — — $0 $0 ($288k) $0 ($10k)
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
Accounts payable ($21k) $5k $48k ($6k) $40k ($242k) ($28k) ($9k) ($26k) ($12k)
Accrued liabilities $41k $414 ($41k) $26k ($4k) ($70k) ($10k) $35k $45k ($80k)
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, 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
Cash provided by financing activities $0 $393k $263k $187k — — — — — —
Purchase of capital assets $0 — — — — — — — — —
Purchase of a certificate of deposit $0 — — — — — — — — —
Cash provided by investing activities $0 — — — — — — — — —
Beginning Cash Position — — — — — — $12.2m $51.1m $10.7m $9.4m
Cash Flow From Continuing Financing Activities — — — — — — ($76.8m) $13.4m $33.7m $118.8m
Cash Flow From Continuing Investing Activities — — — — — — ($230.6m) ($356.7m) ($310.8m) ($409.8m)
Change In Accrued Expense — — — — — — $9.8m $4.5m ($1.2m) $9.6m
Change In Payable — — — — — — $5k $350k ($47k) ($258k)
Change In Payables And Accrued Expense — — — — — — $9.8m $4.9m ($1.2m) $9.3m
Change In Prepaid Assets — — — — — — ($2.1m) $588k ($1.2m) $693k
Change In Receivables — — — — — — ($25.0m) ($846k) $3.3m ($4.4m)
Change In Working Capital — — — — — — ($17.2m) $4.6m $860k $5.5m
Changes In Account Receivables — — — — — — ($25.0m) ($846k) $3.3m ($4.4m)
Changes In Cash — — — — — — $39.0m ($40.4m) ($1.3m) $5.4m
Depletion — — — — — — $105.8m $160.7m $176.5m $215.7m
End Cash Position — — — — — — $51.1m $10.7m $9.4m $14.8m
Financing Cash Flow — — — — — — ($76.8m) $13.4m $33.7m $118.8m
Free Cash Flow — — — — — — $111.7m ($56.3m) ($71.3m) ($122.8m)
Gain Loss On Investment Securities — — — — — — ($17.5m) $3.1m $17.3m ($22.7m)
Gain Loss On Sale Of PPE — — — — — ($2.3m) $0 $0 — —
Investing Cash Flow — — — — — — ($230.6m) ($356.7m) ($310.8m) ($409.8m)
Issuance Of Capital Stock — — — — — — $6.8m $5k $0 $0
Net Business Purchase And Sale — — — — — — ($1.9m) $0 $2.6m $5.0m
Net PPE Purchase And Sale — — — — — — ($44.3m) ($76.8m) ($47.2m) ($118.3m)
Operating Gains Losses — — — — — — ($17.5m) $2.6m $32.5m ($6.8m)
Other Non Cash Items — — — — — — $159k $947k $2.5m $1.8m
Purchase Of Business — — — — — — ($1.9m) $0 ($887k) $0
Purchase Of PPE — — — — — — ($49.2m) ($76.8m) ($61.2m) ($118.5m)
Repurchase Of Capital Stock — — — — — — ($216k) ($35.4m) ($442k) ($16k)
Sale Of Business — — — — — — $0 $0 $3.5m $5.0m
Sale Of PPE — — — — — — $4.8m $60k $14.0m $175k
Net cash provided by operating activities ($10.2m) ($3.0m) ($324k) ($271k) $66.8m $181.2m $346.4m $302.9m $275.7m $296.4m
Capital expenditures for oil and natural gas properties — — — — ($99.5m) ($136.1m) ($185.5m) ($282.4m) ($285.8m) ($300.8m)
Capital Expenditure Reported — — — — — — ($185.5m) ($282.4m) ($285.8m) ($300.8m)
Gain on sale of investments — — — ($123k) — — — — — —
Proceeds from sale of investments — — — $1.0m — — — — — —
Oil and natural gas properties divested in exchange for equity securities — — — — — $0 $0 $49.9m $0 $0
Net Other Investing Changes — — — — — — $1.2m $2.5m $19.7m $4.3m
Net cash used in investing activities $34k ($8.9m) — $79k ($116.7m) ($186.0m) ($230.6m) ($356.7m) ($310.8m) ($409.8m)
Issuance Of Debt — — — — — — $21.0m $162.5m $110.0m $526.0m
Long Term Debt Issuance — — — — — — $21.0m $162.5m $110.0m $526.0m
Net Issuance Payments Of Debt — — — — — — ($51.1m) $110.0m $95.0m $181.0m
Net Long Term Debt Issuance — — — — — — ($51.1m) $110.0m $95.0m $181.0m
Net Short Term Debt Issuance — — — — — $12.6m ($51.1m) $110.0m — —
Short Term Debt Issuance — — — — — $62.0m $21.0m $162.5m — —
Long Term Debt Payments — — — — — — ($72.1m) ($52.5m) ($15.0m) ($345.0m)
Repayment Of Debt — — — — — — ($72.1m) ($52.5m) ($15.0m) ($345.0m)
Short Term Debt Payments — — — — — ($49.4m) ($72.1m) ($52.5m) — —
Proceeds from issuance of common stock $53k $393k $263k $187k $0 $0 $6.8m $5k $0 $0
Common Stock Issuance — — — — — — $6.8m $5k $0 $0
Net Common Stock Issuance — — — — — — $6.6m ($35.3m) ($442k) ($16k)
Common Stock Payments — — — — — — ($216k) ($35.4m) ($442k) ($16k)
Payment of dividends — — — — — $0 ($10.7m) ($58.6m) ($57.5m) ($57.7m)
Cash Dividends Paid — — — — — — ($10.7m) ($58.6m) ($57.5m) ($57.7m)
Common Stock Dividend Paid — — — — — — ($10.7m) ($58.6m) ($57.5m) ($57.7m)
Net Other Financing Charges — — — — — — ($21.7m) ($2.7m) ($3.3m) ($4.5m)
Net cash provided by financing activities $612k $5.2m $263k $187k $52.1m $8.5m ($76.8m) $13.4m $33.7m $118.8m
Effect of exchange rate changes on cash and cash equivalents — — — $41k $146k $21k ($231k) — — —
Effect of exchange rate changes on cash $165k $508k — — — — — — — —
(Decrease) increase in cash and cash equivalents — — — ($815k) $1.7m ($191k) ($450k) — — —
Decrease in cash and cash equivalents ($9.6m) ($6.7m) — — — — — — — —
Net change in cash and restricted cash — — — — — $3.6m $39.0m ($40.4m) ($1.3m) $5.4m
Cash and restricted cash at beginning of year — — — $6k $8.5m $12.2m $51.1m $10.7m $9.4m $14.8m
Restricted cash included in other long-term assets — — — — $300k $300k $300k $300k $0 $0
Cash and cash equivalents - beginning of year $22.7m $13.3m — $6.2m $5.4m $7.3m $7.1m — — —
Cash and cash equivalents - end of year $13.3m $7.1m $69k $6k $1k — — — — —
Change in cash and cash equivalents during the period ($122k) $52k ($61k) ($5k) ($241) — — — — —
Change In Cash Supplemental As Reported — — — — — — $39.0m ($40.4m) ($1.3m) $5.4m
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)

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.