VAALCO Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	389.95	478.99	455.07	354.33	199.08	67.18
Revenue Growth (YoY)	-23.00%	5.26%	28.43%	77.99%	196.35%	-20.52%
Cost of Revenue	151.71	163.5	160.64	121.53	81.26	37.32
Gross Profit	238.24	315.49	294.43	232.8	117.82	29.86
Selling, General & Admin	34.85	29.68	23.84	10.08	14.77	10.7
Other Operating Expenses	1.12	0.67	-0.67	37.77	23.27	-4.91
Operating Expenses	156.59	179.74	135.54	99.33	61.55	19.92
Operating Income	81.65	135.75	158.89	133.46	56.27	9.94
Interest Expense	-7.29	-3.73	-6.45	-2.03	-	-
Interest & Investment Income	-	-	-	-	0.01	0.16
Currency Exchange Gain (Loss)	0.05	-1.8	-0.9	-4.2	-0.7	0.2
Other Non Operating Income (Expenses)	-2	-0.05	0.01	-9.54	4.19	-0.07
EBT Excluding Unusual Items	72.4	130.17	151.54	117.69	59.78	10.22
Merger & Restructuring Charges	-0.5	-3.9	-	-14.6	-	-
Asset Writedown	-	-	-	-	-	-30.63
Other Unusual Items	-6.37	13.53	-1.41	20.22	-	-
Pretax Income	65.54	139.8	150.13	123.31	59.78	-20.4
Income Tax Expense	36.66	81.31	89.78	71.42	-22.16	27.68
Earnings From Continuing Operations	28.88	58.49	60.35	51.89	81.93	-48.08
Earnings From Discontinued Operations	-	-	-	-	-0.1	-0.1
Net Income	28.88	58.49	60.35	51.89	81.84	-48.18
Preferred Dividends & Other Adjustments	0.54	0.71	0.63	0.59	1.33	-
Net Income to Common	28.33	57.78	59.72	51.3	80.5	-48.18
Net Income Growth	-68.21%	-3.09%	16.31%	-36.59%	-	-
Shares Outstanding (Basic)	104	104	106	70	58	58
Shares Outstanding (Diluted)	104	104	107	70	59	58
Shares Change (YoY)	-0.08%	-2.63%	52.26%	19.11%	2.02%	-2.62%
EPS (Basic)	0.27	0.56	0.56	0.74	1.38	-0.84
EPS (Diluted)	0.27	0.56	0.56	0.73	1.37	-0.84
EPS Growth	-68.76%	-0.57%	-23.54%	-46.43%	-	-
Free Cash Flow	-85.2	10.72	126.37	-31.05	11.05	3.12
Free Cash Flow Per Share	-0.82	0.10	1.19	-0.44	0.19	0.05
Dividend Per Share	0.250	0.250	0.250	0.130	-	-
Dividend Growth	-	-	92.31%	-	-	-
Gross Margin	61.09%	65.87%	64.70%	65.70%	59.18%	44.45%
Operating Margin	20.94%	28.34%	34.92%	37.67%	28.27%	14.79%
Profit Margin	7.27%	12.06%	13.12%	14.48%	40.44%	-71.72%
Free Cash Flow Margin	-21.85%	2.24%	27.77%	-8.76%	5.55%	4.65%
EBITDA	197.83	278.79	274.19	181.61	77.33	19.5
EBITDA Margin	50.73%	58.20%	60.25%	51.25%	38.85%	29.03%
D&A For EBITDA	116.18	143.03	115.3	48.14	21.06	9.56
EBIT	81.65	135.75	158.89	133.46	56.27	9.94
EBIT Margin	20.94%	28.34%	34.92%	37.67%	28.27%	14.79%
Effective Tax Rate	55.94%	58.16%	59.80%	57.92%	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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