Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $9.1 million, compared to a net loss of $6.8 million for the same period in 2024[169]. - The company did not generate any revenue or other operating income during the three months ended September 30, 2025 and 2024[170]. - Total operating costs and expenses increased to $8.2 million for the three months ended September 30, 2025, up from $7.0 million in the same period of 2024[169]. - Net cash used in operating activities was $13.8 million for the three months ended September 30, 2025, compared to $4.2 million for the same period in 2024[197]. - Interest income, net decreased by $1.1 million during the three months ended September 30, 2025, primarily due to lower cash balances and interest rates[177]. Cash Flow and Investments - Net cash used in investing activities was $28.4 million for the three months ended September 30, 2025, compared to $14.5 million in the same period of 2024[198]. - As of September 30, 2025, the company had $39.6 million in cash and cash equivalents, an increase of $0.1 million from June 30, 2025[185]. - Net cash received in financing activities for Q3 2025 was $37.9 million, up from $16.7 million in Q3 2024, primarily due to common stock issuance proceeds of $11.0 million compared to $7.4 million in the previous year[199]. - Contributions from noncontrolling interest holders amounted to $29.0 million to fund their share of cash calls, with an additional $1.9 million in advance contributions received[199]. - Common stock issuance transaction costs were $0.6 million, with repayments of finance lease liabilities totaling $3.1 million and $0.3 million related to performance bond facility establishment fees[199]. Development Plans and Commitments - The company expects to incur approximately $43.4 million in expenses to progress its development plans for the remainder of the fiscal year ending June 30, 2026[183]. - The company has capital commitments of $75.8 million related to the Beetaloo Joint Venture, which includes drilling and multi-stage hydraulic fracturing of four wells[191]. Foreign Currency and Gains - The company recognized a foreign currency translation gain of $1.7 million for the three months ended September 30, 2025, compared to a gain of $12.1 million in the same period of 2024[178].
Tamboran Resources Corporation(TBN) - 2026 Q1 - Quarterly Report