EX-99.1 2 ped_ex991.htm PRESS RELEASE 1 J. Douglas Schick, President and Chief Executive Officer of the Company, stated, "We believe the outlook for PEDEVCO is bright with our participation in 18 non-operated wells in the D-J Basin currently under various stages of development and four operated wells in the Permian turned-in-line in May 2025, together with another four non-operated wells planned to be drilled in late Q4 2025 in the D-J Basin in which we hold interests. However, in Q2 2025 our production was ...

Commission file number: 001-35922 PEDEVCO Corp. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ____ (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

[Key Financial and Operational Highlights](index=1&type=section&id=Key%20Financial%20and%20Operational%20Highlights) PEDEVCO's Q1 2025 saw production and revenue growth, but net income and Adjusted EBITDA declined due to higher operating expenses Q1 2025 vs Q1 2024 Key Metrics | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Average Production (BOEPD) | 1,707 | 1,478 | +15% | | Revenue | $8.74 million | $8.12 million | +8% | | Operating Income | $0.15 million | $0.62 million | -76% | | Net Income | $0.1 million | $0.8 million | -87.5% | | Adjusted EBITDA | $4.3 million | $4.7 million | -10% | - The company maintains a strong balance sheet with over **$10 million in cash**, **zero debt**, and an untouched **$250 million RBL** with Citibank[3](index=3&type=chunk) - Four new horizontal San Andres wells were drilled and completed in the Permian Basin, with **production starting in Q2 2025** and **exceeding initial expectations**[7](index=7&type=chunk) - **17 low-producing legacy wells** in the D-J Basin were divested to **reduce operating expenses and plugging and abandonment (P&A) liabilities**, while retaining acreage for future development[7](index=7&type=chunk)[18](index=18&type=chunk) [Financial Performance Analysis](index=1&type=section&id=Financial%20Performance%20Analysis) Q1 2025 revenue grew 8% from higher production, but rising operating expenses caused net income to significantly decline [Operations Update](index=2&type=section&id=Operations%20Update) PEDEVCO completed four new Permian wells with strong initial production and divested 17 D-J wells to reduce liabilities - In Q1 and early Q2 2025, the company drilled and completed **four new horizontal San Andres wells** in the Permian Basin, with **production commencing mid-Q2 2025**[17](index=17&type=chunk) - Effective January 1, 2025, the company sold **17 low-producing operated wells** in the D-J Basin to **reduce operating expenses, G&A, and plugging liabilities**[18](index=18&type=chunk) - The sale of legacy wells is estimated to **save approximately $500,000 in aggregate plugging and abandonment liabilities**, and the company **retained ownership of all existing leaseholds** for future development[18](index=18&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) Unaudited consolidated financial statements for Q1 2025 are presented, including Balance Sheets, Statements of Operations, and Cash Flows [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) Non-GAAP measures like EBITDA and Adjusted EBITDA are presented, with Q1 2025 Adjusted EBITDA at $4.3 million, down from Q1 2024 - The company uses **EBITDA** and **Adjusted EBITDA** as **supplemental performance measures**, with Adjusted EBITDA defined before share-based compensation, impairment, and gain on asset sales[21](index=21&type=chunk) Reconciliation of Net Income to Adjusted EBITDA (in thousands) | | Three Months Ended March 31, | | | :--- | :--- | :--- | | | **2025** | **2024** | | Net income | $140 | $773 | | Income tax expense | $76 | $0 | | Depreciation, depletion, amortization and accretion | $3,346 | $3,485 | | **EBITDA** | **$3,562** | **$4,258** | | Share-based compensation | $475 | $475 | | Impairment of oil and gas properties | $232 | $0 | | Gain on sale of fixed asset | $0 | $(12) | | **Adjusted EBITDA** | **$4,269** | **$4,721** |

Financial Performance - Pedevco Corp. reported break-even quarterly earnings per share, missing the Zacks Consensus Estimate of $0.02, compared to earnings of $0.01 per share a year ago, representing an earnings surprise of -100% [1] - The company posted revenues of $8.74 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 4.11%, and this is an increase from year-ago revenues of $8.12 million [2] - Over the last four quarters, Pedevco has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - Pedevco shares have lost about 17.8% since the beginning of the year, while the S&P 500 has gained 0.2% [3] - The current status of estimate revisions translates into a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.01 on $8.67 million in revenues, and $0.05 on $36 million in revenues for the current fiscal year [7] - The outlook for the industry, specifically the Oil and Gas - Mechanical and Equipment sector, is currently in the bottom 7% of over 250 Zacks industries, which may impact stock performance [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35922 PEDEVCO Corp. (Exact name of registrant as specified in its charter) Texas 22-3755993 (State or other jurisdiction of incor ...

Core Viewpoint - The article emphasizes the importance of value investing and highlights Pedevco (PED) as a strong value stock based on its financial metrics and Zacks Rank [2][4][6] Company Analysis - Pedevco (PED) currently holds a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong potential for investment [4] - The stock has a Forward P/E ratio of 10.80, which is lower than the industry average of 11.86, suggesting it may be undervalued [4] - Over the past year, PED's Forward P/E has fluctuated between a high of 33.33 and a low of 9.88, with a median of 12.16 [4] - Pedevco has a P/B ratio of 0.41, significantly lower than the industry average of 0.99, further indicating potential undervaluation [5] - The P/B ratio has ranged from a high of 0.93 to a low of 0.38 over the past 12 months, with a median of 0.75 [5] - These financial metrics contribute to Pedevco's strong Value grade and suggest that the stock is likely undervalued at present [6]

EX-99.1 2 ped_ex991.htm PRESS RELEASE EXHIBIT 99.1 PEDEVCO Announces 2024 Financial Results HOUSTON, TX / ACCESSWIRE / March 31, 2025 / PEDEVCO Corp. (NYSE American: PED) ("PEDEVCO" or the "Company"), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today announced its financial results for the year ended December 31, 2024. Key Highlights Include: J. Douglas Schick, President and Chief Executive Officer of the Company, stated, "We are please ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ____________ Commission file number: 001-35922 PEDEVCO Corp. (Exact Name of Registrant as Specified in Its Charter) Texas 22-3755993 (I.R.S. Emplo ...

Pedevco Corp. (PED) came out with quarterly earnings of $0.02 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced earnings of $0.03, delivering no surprise.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Pedevco, which belongs to the Zacks Oi ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Pedevco Corp. (PED) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock m ...