Dorchester Minerals (DMLP) Q4 2025 earnings summary

Executive summary

• Reported net income of $57.4 million for the year ended December 31, 2025, down from $92.4 million in 2024.

• Net income per common unit was $1.16, compared to $2.13 in the prior year.

Financial highlights

• Operating revenues for 2025 were $152.8 million, a decrease from $161.5 million in 2024.

• Distributed $133.5 million to common unitholders from May 2025 through February 2026, attributable to 2025 activity.

Outlook and guidance

• Forward-looking statements highlight risks related to oil and gas prices, operational changes, economic and industry conditions, and regulatory requirements.