Tue, Jun 10, 8:07 PM (8 days ago)
**Trio Petroleum Corp. (TPET) Q2 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q2 2025 revenue was $23,271,000, a 68.1% decrease from Q2 2024's $72,923,000. - **Profit Margins:** Gross profit margin was -80.8% in Q2 2025, compared to 0% in Q2 2024. - **Net Loss:** Net loss for Q2 2025 was $1,563,752,000, a 61.4% improvement from Q2 2024's $4,045,935,000. - **Cash Flow:** Operating cash flow was -$1,660,469,000 in Q2 2025, compared to $682,525,000 in Q2 2024. - **Earnings Changes:** Basic and diluted net loss per share was $0.22 in Q2 2025, compared to $1.98 in Q2 2024. **Quarterly Performance Discussion:** - **Revenue Trends:** Revenue decreased due to the sale of fewer oil barrels from the McCool Ranch field and the recent acquisition of assets in the Lloydminster, Saskatchewan region. - **Operating Expenses:** Exploration expenses decreased by 72.3%, while general and administrative expenses decreased by 48.8%. - **Other Expenses:** Interest expenses decreased by 96.9%, but there were losses on abandonment of oil and gas properties and loss on extinguishment. **Future Operations Impact:** - **Going Concern:** The company has substantial doubt about its ability to continue as a going concern due to its accumulated deficit and working capital deficiency. - **Capital Requirements:** The company will need to raise additional capital to cover operating and capital requirements. - **Uncertainties:** The company faces uncertainties related to its ability to raise additional financing and the success of its exploration and development projects. **Trends and Uncertainties:** - **Market Conditions:** The company is mindful of global economic trends and their potential influence on commodity prices. - **Regulatory Factors:** Changes in environmental, health, and safety laws could impact the company's operations. - **Operational Risks:** The company faces risks related to drilling, production, and environmental hazards. **Future Outlook:** - **Strategic Shifts:** The company has shifted its focus beyond California to pursue more economically viable opportunities. - **New Acquisitions:** The company has acquired assets in the Lloydminster, Saskatchewan region and is exploring new opportunities in Utah. - **Carbon Capture:** The company is considering a Carbon Capture and Storage project as part of its South Salinas Project. **Financial Metrics:** - **Current Assets:** $1,738,678,000 as of April 30, 2025. - **Current Liabilities:** $2,270,661,000 as of April 30, 2025. - **Working Capital Deficit:** $531,983,000 as of April 30, 2025. - **Cash Balance:** $1,457,056,000 as of April 30, 2025. **Ticker:** TPET