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Big Sky Industrial (BSIN) investor relations material
Big Sky Industrial Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Phase 1 field infrastructure is complete and modular plant fabrication is underway; first production remains targeted for spring 2027.
Helium is contracted from first production under a five-year, 100% take-or-pay agreement; Phase 2 planning and financing discussions are advancing.
Financial highlights
Q3 revenue was $1.955M, up 12% YoY from $1.738M; 9M revenue was $5.694M versus $5.959M.
Q3 net loss was $3.496M, or $0.07/share, versus $3.341M; 9M net loss was $8.960M versus $12.510M.
Adjusted EBITDA excluding $1.2M of remediation costs was negative $0.8M versus negative $1.3M YoY; remediation-excluded Q3 lease expense was $29.71/BOE.
Cash G&A was $1.6M versus $1.7M YoY and $1.8M QoQ.
Outlook and guidance
First production and helium sales are targeted for spring 2027; equipment installation is planned from late Q4 2026 through Q1 2027, followed by commissioning.
Phase 1 is designed for 14.4 million cubic feet of annual helium production and 125,000 metric tons of CO₂ annually.
Phase 2 engineering is underway; an FID is expected in the coming months, following financing and final plant sizing.
Remaining near-term capital spending is expected at $28M–$32M, primarily for the gas plant, gathering system, power generation and related infrastructure.
- Contracted helium, 45Q credits and CO₂-EOR anchor a spring 2027 Phase 1 revenue target.BSIN
Investor presentation - Helium and carbon management project targets Q1 2027 launch, backed by major offtake deal.BSIN
Noble Capital Markets Virtual Equity Investor Conference - Industrial gas and carbon management operations near launch, with major growth and re-rating expected.BSIN
Micro-Cap Virtual Conference - Integrated helium, carbon, and oil platform with secured revenue and major growth catalysts ahead.BSIN
Investor presentation - Phase 1 construction and helium offtake advance, with strong liquidity and improved financials.BSIN
Q2 2026 - Integrated helium, CO2, and oil platform targets rapid growth with secured offtake and tax credits.BSIN
16th Annual LD Micro Invitational Conference - Integrated gas and carbon platform with secured funding and first revenue targeted for Q1 2027.BSIN
Investor presentation - Final investment decision, funding, and offtake secured; construction underway for Q1 2027 launch.BSIN
Q1 2026 - Montana energy project set for 2027 launch, targeting rapid EBITDA growth and multi-stream revenues.BSIN
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