)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Texas Pacific Land (TPL) investor relations material
Texas Pacific Land Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved record quarterly revenue of $203.1 million in Q3 2025, driven by strong oil and gas royalty production and water sales, with significant acquisitions in the Midland Basin and Martin County enhancing future growth.
Oil and gas royalty production averaged 36,300 BOE/d in Q3, up 9% sequentially and 28% year-over-year, offsetting lower realized commodity prices.
Water sales reached $45 million, up 74% sequentially and 23% year-over-year; produced water royalty revenues were $32 million.
Completed a $500 million revolving credit facility, undrawn at quarter end, and announced a three-for-one stock split expected in December 2025.
Maintained a robust balance sheet with $532 million in cash and no debt as of quarter-end.
Financial highlights
Q3 2025 revenues were $203.1 million, up from $173.6 million in Q3 2024; net income was $121.2 million, up from $106.6 million year-over-year.
Adjusted EBITDA for Q3 was $173.6 million, with an 85% margin; free cash flow was $123 million, up 15% year-over-year.
Nine-month 2025 revenues reached $586.6 million; net income was $358.0 million.
Quarterly cash dividend of $1.60 per share paid in September 2025; $111.0 million in dividends and $8.4 million in share repurchases through September 30, 2025.
No debt outstanding and a strong cash position of $531.8 million as of Q3 2025.
Outlook and guidance
Expect continued growth from recent royalty and surface acquisitions, with double-digit pre-tax cash flow yields at $60/bbl oil and $2/mcf gas.
Management targets a cash balance of $700 million, with excess cash to be returned to shareholders via dividends and share repurchases.
Construction of a new water desalination facility is underway, expected in service by year-end 2025.
Decades of cash flow runway expected from diversified revenue streams and strong Permian exposure.
Business model designed to succeed throughout commodity cycles without hedging, preserving upside potential.
Impact of new royalty acreage on future growth
Desalination facility's future revenue contribution
Future use of the new $500M credit facility
Desalination: What are 2026 key synergies
Characterize Permian M&A competitive landscape
Outlook for power/data center opportunities
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Texas Pacific Land earnings date
Q4 202519 Feb, 2026
Next Texas Pacific Land earnings date
Q4 202519 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. It primarily owns, leases, or accesses real estate properties and resources. The company's portfolio of mineral interests comprises brine disposal plants, oil and gas tracts, water injection wells associated with oil production, oil and gas royalties, coal bed methane leases, and disposal wells for produced water from natural gas reserves. Texas Pacific Land Corporation was founded in 1888 and is headquartered in Dallas, Texas.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage