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Lycos Energy (LCX) investor relations material

Lycos Energy Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary17 Nov, 2025

Executive summary

  • Q3 2025 production averaged 2,958 boe/d (99% crude oil), down 39% year-over-year due to asset dispositions and natural declines.

  • Adjusted funds flow from operations was $9.6 million, a 44% decrease from Q3 2024, but per boe only declined 8% to $35.12, reflecting improved efficiency.

  • Net income for Q3 2025 was $2.5 million ($0.05/share), while the nine-month period saw a net loss of $49.8 million, mainly due to a $41.2 million loss on asset disposition and a $23.2 million impairment.

  • Multiple non-core asset sales, including the North Disposition for $60 million, streamlined the portfolio and reduced net debt.

Financial highlights

  • Q3 2025 petroleum and natural gas sales, net of blending, were $19.4 million, down 43% year-over-year.

  • Adjusted funds flow from operations per share was $0.18 (basic and diluted), down from $0.32 in Q3 2024.

  • Net operating expense per boe decreased 30% to $15.48, reflecting cost optimization and divestitures.

  • Capital expenditures for Q3 2025 were $1.4 million, a 92% decrease year-over-year.

  • Exit net debt was $11.8 million, representing 0.3x annualized net debt to adjusted funds flow from operations.

Outlook and guidance

  • Focus shifts to optimizing and developing retained core properties following major asset sales.

  • A new capital program is planned for January 2026, targeting sustainable production growth and efficiency.

  • $47.9 million of North Disposition proceeds to be distributed as a $0.90/share return of capital in Q4 2025.

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