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Financial statements

Prairie Operating Co. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Prairie Operating Co. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue22.715.113.910.60.410.370.521.557.94242
Cost of revenue16.215.111.39.673.01
Gross profit6.530.012.620.91.51
Research and development38153
General and administrative2.561.621.130.892.055.793.6116.330.650.6
Operating expenses7.725.353.562.762.6918.68.1216.534.5176
Operating income-1.18-5.34-0.94-1.86-2.27-18.2-7.61-16.5-26.565.6
Interest expense1.680.30.641.180.611.1428.5
Interest income0.250.580.76
Other non-operating income-0.33-0.4-1.67-0.3-0.63-0.99-5.79-45.5-13.4-11.9
Pre-tax income-1.51-5.73-2.62-2.16-2.9-19.2-13.4-62-39.953.7
Income tax021.7
Income from continuing operations2.9-19.2-13.4-62-39.932.1
Net income to minority interests0.07-0
Net income-1.58-5.73-2.62-2.16-1.94-17.3-13.4-79.1-40.932.1
EBITDA-1.02-5.19-0.86-1.81-2.25-18.1-6.95-15.5-26.1114
EPS, basic-0.62-1.66-0.83-0.68-0.58-3.71-1.18-16.51-2.65-1.35
EPS, diluted-0.62-1.66-0.83-0.68-0.58-3.71-1.18-16.51-2.65-1.35
Shares, basic (weighted)2.543.33.153.23.24.7611.64.7915.545.2
Shares, diluted (weighted)2.543.33.153.23.24.7611.64.7915.545.2

Balance sheet

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents4.41.771.012.781.92.790.08135.190.02
Receivables0.190.340.1200.030
Inventory00.220.020.013.6
Other current assets0.70.20.140.10.050.110.040.170.311.45
Total current assets5.62.772.123.222.2210.80.0813.518.379.7
Property, plant and equipment0.220.170.10.060.012.231.6328.7135824
Lease right-of-use assets0.170.240.130.161.322.97
Intangible assets0.13
Other non-current assets0.580.13
Total assets5.842.942.233.462.6713.21.8445.7157945
Accounts payable0.942.82.713.320.60.82.222.319.344.6
Accrued liabilities18.2
Deferred revenue1.572.161.711.570.76
Total current liabilities2.746.317.147.77.076.042.225.4263126
Long-term debt0.35
Lease liabilities0.080.140.10.091.041.79
Other non-current liabilities01.4
Total liabilities3.766.317.149.719.5292.225.51104678
Total debt228
Paid-in capital19.7202121.923.251.554.2119172218
Retained earnings-17.6-23.3-25.9-28.1-30-47.3-60.7-78.9-120-87.7
Treasury stock0-0.53
Shareholders' equity2.07-3.37-4.91-6.26-6.844.2-6.5340.252.8130
Minority interests-0.01-0.01-0.01-0.01-0.010
Total equity2.06-3.37-4.91-6.26-6.844.2-6.5340.252.8130
Total liabilities and equity5.842.942.233.462.6713.21.8445.7157945
Shares outstanding3.33.33.23.23.28.1909.832362.5

Cash flow statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income-1.58-5.73-2.62-2.16-1.94-17.3-13.4-79.1-40.932.1
Depreciation and amortization0.160.150.080.050.020.110.660.980.4348.9
Stock-based compensation0.780.30.360.270.4112.32.682.98.3814.8
Deferred income tax021.7
Change in receivables0.22-0.150.210.12-0.030.030-12.3
Change in inventory-0.13-00-0.22-0.020.020-3.55
Change in payables-0.641.860.540.611.10.573.371.5618.619.2
Cash from operations-2.49-2.53-0.74-0.71-1.07-6.97-2.19-11.9-9.35154
Capital expenditures-0.17-0.1-0.01-0.01-0.02-2.32-5.3-0.2
Acquisitions-21.2
Purchases of investments-0.13
Sales and maturities of investments0.09
Cash from investing-0.31-0.1-0.01-0.01-0.16-9.93-1.82-23.7-83.4-656
Debt issued0.350.2
Debt repaid-0.15
Stock issued3.9332.41543.8
Share buybacks0-0.53
Cash from financing2.482.470.3517.81.4748.684.9497
Net change in cash-0.32-2.63-0.751.76-0.880.89-2.5413-7.85-5.17
Free cash flow-2.66-2.63-0.75-0.71-1.1-9.29-7.49-12.1
Interest paid00.120.7225.3
Income taxes paid01.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.43 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Pre-tax margin-12.2%Pre-tax income / revenue.
Net margin-13.1%Net income / revenue.
Operating cash flow margin69.7%Cash from operations / revenue.
Return on equity (ROE)-20.0%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-4.4%Net income / average total assets.
Stock-based pay / revenue5.9%Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue19.7%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y2,944.0%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y675.8%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y257.8%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y146.7%Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y503.3%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y700.6%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y223.4%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y192.7%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y57.2%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y69.8%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.25xCurrent assets / current liabilities.
Quick ratio0.00x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.00x(Cash + short-term investments) / current liabilities.
Liabilities / assets73.5%Total liabilities / total assets.
Working capital-$125.5MCurrent assets - current liabilities.
Tangible book value$223.0MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.34xRevenue / average total assets.
Fixed asset turnover0.36xRevenue / average property, plant and equipment.

Per share

MetricValueHow it is calculated
EPS, diluted-$0.24Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$1.84Revenue / diluted weighted shares.
Operating cash flow per share$1.28Cash from operations / diluted weighted shares.
Book value per share$2.11Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$2.11Tangible book value / shares outstanding.
Cash per share$0.00(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$48.1MShare price x shares outstanding.
Enterprise value$48.0MMarket cap + total debt - cash - short-term investments.
P/S0.14xMarket cap / revenue.
P/B0.22xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book0.22xMarket cap / tangible book value, when positive.
P/OCF0.20xMarket cap / cash from operations, when positive.
EV/Sales0.14xEnterprise value / revenue.
Earnings yield-93.0%Net income / market cap (the inverse of P/E).
Shareholder yield2.8%(Dividends paid + share buybacks) / market cap.
What was Prairie Operating Co.'s revenue in fiscal 2025?

Prairie Operating Co. reported revenue of $241.6M for fiscal 2025, 2,943.8% higher than the year before.

Was Prairie Operating Co. profitable in fiscal 2025?

Yes. Net income was $32.1M, a net margin of 13.3%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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