Antero Resources Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Antero Resources Corp reported revenue of $5.3B (+22.0% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenue | $5.3B | $4.3B | $4.7B | $7.1B |
| Lease operating | $135.1M | $118.7M | $118.4M | $99.6M |
| Cost of goods and services sold | $3.1B | $3.0B | $2.9B | $3.1B |
| Production and ad valorem taxes | $163.1M | $207.7M | $158.9M | $287.4M |
| General and administrative (including equity-based compensation expense of $59,519, $66,462 and $60,812 in 2023, 2024 and 2025, respectively) | $232.5M | $229.3M | $224.5M | $172.9M |
| Depletion, depreciation and amortization | $749.7M | $762.1M | $690.0M | $680.6M |
| Impairment of property and equipment | $29.4M | $47.4M | $51.3M | $149.7M |
| Accretion of asset retirement obligations | $3.9M | $3.8M | $3.2M | $4.6M |
| Contract termination, loss contingency and settlements | $28.0M | $4.5M | — | — |
| Loss (gain) on sale of assets | ($266.0K) | $862.0K | ($447.0K) | $471.0K |
| Other operating expense | $99.0K | $390.0K | $336.0K | — |
| Total operating expenses | $4.4B | $4.3B | $4.2B | $4.6B |
| Operating income | $883.6M | $460.0K | $453.1M | $2.6B |
| Interest expense, net | ($83.7M) | ($118.2M) | ($117.9M) | ($125.4M) |
| Equity in earnings of unconsolidated affiliate | $98.5M | $93.8M | $83.0M | $72.3M |
| Loss on early extinguishment of debt | ($3.6M) | ($528.0K) | — | ($46.0M) |
| Transaction expense | ($4.4M) | — | — | — |
| Total other income (expense) | $6.8M | ($24.9M) | ($35.3M) | ($99.2M) |
| Income (loss) before income taxes | $890.4M | ($24.5M) | $417.8M | $2.5B |
| Income tax (expense) benefit | ($215.9M) | $118.2M | ($76.0M) | ($448.7M) |
| Net income and comprehensive income including noncontrolling interests | $674.6M | $93.7M | $341.8M | $2.0B |
| Less: net income and comprehensive income attributable to noncontrolling interests | $40.1M | $36.5M | $98.9M | $127.2M |
| Net income and comprehensive income attributable to Antero Resources Corporation | $634.4M | $57.2M | $242.9M | $1.9B |
| Net income per common share-basic (in dollars per share) | $2.05 | $0.18 | $0.81 | $6.18 |
| Net income per common share-diluted (in dollars per share) | $2.03 | $0.18 | $0.78 | $5.78 |
| Basic (in shares) | 309.7M | 309.5M | 299.8M | 307.2M |
| Diluted (in shares) | 312.4M | 313.4M | 311.6M | 329.2M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenue | $1.6B | $1.9B | $1.2B | $1.3B |
| Lease operating | $48.1M | $44.5M | $32.4M | $37.2M |
| Cost of goods and services sold | $821.1M | $852.5M | $762.9M | $754.4M |
| Production and ad valorem taxes | $37.5M | $81.0M | $28.9M | $34.8M |
| General and administrative | $57.8M | $63.3M | $56.9M | $57.2M |
| Depletion, depreciation and amortization | $227.3M | $206.2M | $188.8M | $187.6M |
| Impairment of property and equipment | $4.5M | $948.0K | $12.2M | $6.3M |
| Accretion of asset retirement obligations | $983.0K | $1.1M | $946.0K | $942.0K |
| Contract termination, loss contingency and settlements | $1.7M | $12.0M | $12.6M | $13.6M |
| Loss (gain) on sale of assets | ($14.6M) | ($46.0M) | $171.0K | $546.0K |
| Other operating expense | $26.0K | $22.0K | $25.0K | $25.0K |
| Total operating expenses | $1.2B | $1.2B | $1.1B | $1.1B |
| Operating income | $375.5M | $729.5M | $118.1M | $204.9M |
| Interest expense, net | ($37.5M) | ($37.0M) | ($18.2M) | ($20.0M) |
| Equity in earnings of unconsolidated affiliate | $29.4M | $30.1M | $29.1M | $30.6M |
| Transaction expense | ($1.9M) | ($22.1M) | — | — |
| Total other income (expense) | ($10.0M) | ($35.7M) | $10.8M | $9.9M |
| Income before income taxes | $365.4M | $693.7M | $128.9M | $214.8M |
| Income tax expense | ($79.0M) | ($145.5M) | ($43.3M) | ($48.2M) |
| Net income and comprehensive income including noncontrolling interests | $286.4M | $548.2M | $85.6M | $166.6M |
| Less: net income and comprehensive income attributable to noncontrolling interests | $7.8M | $13.0M | $9.4M | $10.0M |
| Net income and comprehensive income attributable to Antero Resources Corporation | $278.7M | $535.2M | $76.2M | $156.6M |
| Net income per common share-basic (in dollars per share) | $0.90 | $1.73 | $0.25 | $0.50 |
| Net income per common share-diluted (in dollars per share) | $0.90 | $1.72 | $0.24 | $0.50 |
| Basic (in shares) | 309.7M | 308.9M | 308.8M | 310.3M |
| Diluted (in shares) | 310.6M | 311.4M | 311.0M | 313.2M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Restricted cash | $210.0M | — | — | — |
| Accounts receivable | $33.8M | $34.4M | $42.6M | $35.5M |
| Accrued revenue | $473.5M | $453.6M | $400.8M | $707.7M |
| Derivative instruments | $68.9M | $1.1M | $5.2M | $1.9M |
| Prepaid expenses | $14.6M | $12.4M | $12.9M | — |
| Current assets held for sale | $20.3M | — | — | — |
| Other current assets | $10.8M | $6.0M | $14.2M | — |
| Total current assets | $831.8M | $507.5M | $475.7M | $787.5M |
| Unproved properties | $796.7M | $879.5M | $974.6M | $997.7M |
| Proved properties | $14.0B | $14.4B | $13.9B | $13.2B |
| Other property and equipment | $113.0M | $105.9M | $98.7M | $83.9M |
| Property and equipment, gross | $15.0B | $15.4B | $15.0B | $14.3B |
| Less accumulated depletion, depreciation and amortization | ($5.8B) | ($5.7B) | ($5.1B) | ($4.7B) |
| Property and equipment, net | $9.2B | $9.7B | $9.9B | $9.6B |
| Operating leases right-of-use assets | $2.1B | $2.5B | $3.0B | $3.4B |
| Derivative instruments | $12.5M | $1.3M | $5.6M | $9.8M |
| Investment in unconsolidated affiliate | $245.7M | $231.0M | $222.3M | $220.4M |
| Assets held for sale | $754.7M | — | — | — |
| Other assets | $62.9M | $33.2M | $25.4M | $17.1M |
| Total assets | $13.2B | $13.0B | $13.6B | $14.1B |
| Accounts payable | $49.5M | $62.2M | $39.0M | $77.5M |
| Accrued liabilities | $338.8M | $402.6M | $381.3M | $461.8M |
| Revenue distributions payable | $384.8M | $315.9M | $361.8M | $468.2M |
| Short-term lease liabilities | $516.3M | $493.9M | $540.1M | $556.6M |
| Deferred revenue, VPP | $23.5M | $25.3M | $27.1M | $30.6M |
| Current liabilities held for sale | $62.3M | — | — | — |
| Other current liabilities | $26.7M | $3.2M | $1.3M | $1.7M |
| Total current liabilities | $1.5B | $1.4B | $1.5B | $1.8B |
| Long-term debt | $1.4B | $1.5B | $1.5B | $1.2B |
| Deferred income tax liability, net | $907.3M | $693.3M | $834.3M | $759.9M |
| Long-term lease liabilities | $1.6B | $2.1B | $2.4B | $2.9B |
| Deferred revenue, VPP | $11.9M | $35.4M | $60.7M | $87.8M |
| Liabilities held for sale | $39.8M | — | — | — |
| Other liabilities | $57.1M | $62.0M | $59.4M | $59.7M |
| Total liabilities | $5.5B | $5.8B | $6.4B | $7.1B |
| Common stock, $0.01 par value; authorized - 1,000,000 shares; 311,165 and 308,510 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively | 3.1M | 3.1M | 3.0M | 3.0M |
| Additional paid-in capital | $5.9B | $5.9B | $5.8B | $5.8B |
| Retained earnings | $1.7B | $1.1B | $1.1B | $913.9M |
| Total stockholders' equity | $7.6B | $7.0B | $7.0B | $6.8B |
| Noncontrolling interests | $164.8M | $194.9M | $232.7M | $262.6M |
| Total equity | $7.7B | $7.2B | $7.2B | $7.0B |
| Total liabilities and equity | $13.2B | $13.0B | $13.6B | $14.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Accounts receivable | $25.1M | $32.4M | $37.1M | $31.6M |
| Accrued revenue | $458.2M | $454.2M | $356.9M | $367.9M |
| Derivative instruments | $180.8M | $163.4M | $17.4M | $1.1M |
| Prepaid expenses | $12.8M | $13.6M | $9.3M | $9.6M |
| Other current assets | $16.7M | $14.3M | $7.0M | $17.3M |
| Total current assets | $693.6M | $677.9M | $427.8M | $427.5M |
| Unproved properties | $1.1B | $1.1B | $883.4M | $883.2M |
| Proved properties | $17.0B | $16.9B | $14.9B | $14.5B |
| Other property and equipment | $125.1M | $118.7M | $111.8M | $109.3M |
| Property and equipment, gross | $18.2B | $18.2B | $15.9B | $15.5B |
| Less accumulated depletion, depreciation and amortization | ($6.1B) | ($6.0B) | ($6.0B) | ($5.9B) |
| Property and equipment, net | $12.1B | $12.2B | $9.9B | $9.7B |
| Operating leases right-of-use assets | $2.0B | $2.1B | $2.3B | $2.4B |
| Derivative instruments | $50.8M | $50.8M | $638.0K | $947.0K |
| Investment in unconsolidated affiliate | $259.3M | $253.2M | $256.5M | $249.2M |
| Other assets | $80.3M | $68.1M | $46.2M | $35.5M |
| Total assets | $15.2B | $15.3B | $12.9B | $12.8B |
| Accounts payable | $45.5M | $78.0M | $61.1M | $39.9M |
| Accrued liabilities | $359.3M | $372.9M | $305.0M | $312.8M |
| Revenue distributions payable | $443.2M | $521.9M | $361.3M | $364.1M |
| Commercial paper | $182.0M | — | — | — |
| Derivative instruments | $1.9M | $5.1M | — | $34.0M |
| Short-term lease liabilities | $531.7M | $536.3M | $509.4M | $514.3M |
| Deferred revenue, VPP | $23.8M | $23.6M | $23.9M | $24.4M |
| Other current liabilities | $11.4M | $17.3M | $20.9M | $7.9M |
| Total current liabilities | $1.7B | $1.7B | $1.4B | $1.4B |
| Long-term debt | $2.4B | $2.7B | $1.3B | $1.1B |
| Deferred income tax liability, net | $1.2B | $1.1B | $839.1M | $795.8M |
| Derivative instruments | $1.6M | $7.4M | $24.8M | $15.6M |
| Long-term lease liabilities | $1.5B | $1.5B | $1.8B | $1.9B |
| Other liabilities | $64.9M | $63.4M | $65.8M | $64.2M |
| Total liabilities | $6.9B | $7.1B | $5.4B | $5.3B |
| Common stock, $0.01 par value; authorized - 1,000,000 shares; 308,510 and 308,739 shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively | 3.1M | 3.1M | 3.1M | 3.1M |
| Additional paid-in capital | $5.8B | $5.8B | $5.9B | $5.9B |
| Retained earnings | $2.5B | $2.2B | $1.5B | $1.4B |
| Total stockholders' equity | $8.3B | $8.1B | $7.3B | $7.3B |
| Total equity | $8.3B | $8.2B | $7.5B | $7.5B |
| Total liabilities and equity | $15.2B | $15.3B | $12.9B | $12.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income including noncontrolling interests | $674.6M | $93.7M | $341.8M | $2.0B |
| Depletion, depreciation, amortization and accretion | $753.6M | $765.8M | $693.2M | $685.2M |
| Impairment of property and equipment | $29.4M | $47.4M | $51.3M | $149.7M |
| Commodity derivative fair value gains | ($111.0M) | ($731.0K) | ($166.3M) | $1.6B |
| Settled commodity derivative gains (losses) | ($17.1M) | $10.2M | ($25.4M) | ($1.9B) |
| Payments for derivative monetizations | $0 | $0 | ($202.3M) | — |
| Deferred income tax expense (benefit) | $214.0M | ($118.6M) | $74.4M | $447.8M |
| Equity-based compensation expense | $60.8M | $66.5M | $59.5M | $35.4M |
| Equity in earnings of unconsolidated affiliate | ($98.5M) | ($93.8M) | ($83.0M) | ($72.3M) |
| Dividends of earnings from unconsolidated affiliate | $125.3M | $125.2M | $125.1M | $125.1M |
| Amortization of deferred revenue | ($25.3M) | ($27.1M) | ($30.6M) | ($37.6M) |
| Amortization of debt issuance costs and other | $937.0K | $2.4M | $2.3M | $4.3M |
| Settlement of asset retirement obligations | ($270.0K) | ($3.6M) | ($718.0K) | ($1.1M) |
| Contract termination, loss contingency and settlements | $15.4M | $5.3M | — | — |
| Loss (gain) on sale of assets | ($266.0K) | $862.0K | ($447.0K) | $471.0K |
| Loss on early extinguishment of debt | $3.6M | $528.0K | — | $46.0M |
| Accounts receivable | ($142.0K) | $25.4M | $7.5M | $43.5M |
| Accrued revenue | ($39.2M) | ($52.8M) | $306.9M | ($116.2M) |
| Prepaid expenses and other current assets | ($7.0M) | $8.7M | $14.9M | ($27.5M) |
| Accounts payable including related parties | ($2.3M) | $35.3M | ($16.8M) | $32.4M |
| Accrued liabilities | ($45.0M) | $1.3M | ($62.4M) | ($5.6M) |
| Revenue distributions payable | $86.0M | ($45.8M) | ($106.4M) | $23.3M |
| Other current liabilities | $13.6M | $3.2M | ($357.0K) | ($12.6M) |
| Net cash provided by operating activities | $1.6B | $849.3M | $994.7M | $3.1B |
| Additions to unproved properties | ($129.2M) | — | — | — |
| Drilling and completion costs | ($685.5M) | ($614.9M) | ($964.3M) | ($780.6M) |
| Additions to other property and equipment | ($5.4M) | ($10.9M) | ($16.4M) | ($14.3M) |
| Acquisitions of oil and gas properties | ($253.1M) | ($91.0M) | ($151.1M) | ($149.0M) |
| Proceeds from Sale of PP&E | $16.3M | $9.5M | $447.0K | $2.7M |
| Change in other assets | ($20.8M) | ($6.9M) | ($9.4M) | ($2.4M) |
| Net cash used in investing activities | ($1.1B) | ($714.2M) | ($1.1B) | ($943.6M) |
| Repurchases of common stock | ($136.4M) | — | ($75.4M) | ($873.7M) |
| Repayment of senior notes | ($141.7M) | — | — | ($1.0B) |
| Borrowings on Credit Facility | $4.9B | $4.1B | $4.5B | — |
| Repayments on Credit Facility | ($4.9B) | ($4.2B) | ($4.1B) | — |
| Payment of debt issuance costs | ($9.0M) | ($6.1M) | ($605.0K) | ($814.0K) |
| Distributions to noncontrolling interests | ($70.2M) | ($74.3M) | ($128.8M) | ($173.5M) |
| Employee tax withholding for settlement of equity-based compensation awards | ($29.6M) | ($29.6M) | ($30.4M) | ($66.1M) |
| Other | ($1.5M) | ($1.1M) | ($830.0K) | ($575.0K) |
| Net cash provided by (used in) financing activities | ($343.1M) | ($135.1M) | $146.0M | ($2.1B) |
| Net increase in cash, cash equivalents and restricted cash | $210.0M | $0 | $0 | $0 |
| Cash, cash equivalents and restricted cash, beginning of period | $0 | $0 | $0 | $0 |
| Cash, cash equivalents and restricted cash, end of period | $210.0M | — | — | — |
| Cash paid during the period for interest | $88.1M | $120.1M | $113.9M | $155.0M |
| Increase (decrease) in accounts payable and accrued liabilities for additions to property and equipment | ($27.3M) | $10.5M | ($60.8M) | $38.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income including noncontrolling interests | $834.6M | $548.2M | $471.6M | $386.0M |
| Depletion, depreciation, amortization and accretion | $435.5M | $207.3M | $565.5M | $375.8M |
| Impairment of property and equipment | $5.4M | $948.0K | $24.1M | $11.9M |
| Commodity derivative fair value losses (gains) | ($195.7M) | ($35.0M) | ($21.0M) | $18.3M |
| Losses on settled commodity derivatives | ($30.9M) | ($165.1M) | ($18.9M) | ($17.4M) |
| Deferred income tax expense | $220.7M | $143.8M | $145.8M | $102.5M |
| Equity-based compensation expense | $25.0M | $11.7M | $46.5M | $31.0M |
| Equity in earnings of unconsolidated affiliate | ($59.5M) | ($30.1M) | ($88.3M) | ($59.2M) |
| Dividends of earnings from unconsolidated affiliate | $62.6M | $31.3M | $93.9M | $62.6M |
| Amortization of deferred revenue | ($11.7M) | ($5.8M) | ($18.9M) | ($12.5M) |
| Amortization of debt issuance costs and other | $953.0K | $420.0K | $913.0K | $823.0K |
| Settlement of asset retirement obligations | ($110.0K) | ($107.0K) | ($71.0K) | ($71.0K) |
| Contract termination, loss contingency and settlements | $2.2M | $10.8M | $11.4M | $12.0M |
| Gain on sale of assets | ($60.6M) | ($46.0M) | $142.0K | ($29.0K) |
| Loss on early extinguishment of debt | $6.7M | $6.7M | $3.6M | $3.6M |
| Accounts receivable | $8.7M | $1.3M | ($2.7M) | $2.8M |
| Accrued revenue | $31.9M | $49.1M | $96.7M | $85.7M |
| Prepaid expenses and other current assets | $10.8M | $4.6M | $2.1M | ($8.4M) |
| Accounts payable including related parties | $23.8M | $60.7M | ($2.7M) | ($15.1M) |
| Accrued liabilities | ($39.5M) | ($46.6M) | ($94.5M) | ($85.5M) |
| Revenue distributions payable | $41.8M | $120.0M | $45.3M | $48.1M |
| Other current liabilities | ($15.0M) | ($9.4M) | ($529.0K) | $7.2M |
| Net cash provided by operating activities | $1.3B | $859.1M | $1.3B | $950.1M |
| Additions to unproved properties | ($45.6M) | ($16.9M) | ($90.0M) | — |
| Drilling and completion costs | ($492.4M) | ($184.6M) | ($523.3M) | ($356.3M) |
| Additions to other property and equipment | ($8.9M) | ($4.6M) | ($4.0M) | ($1.6M) |
| Acquisition of HG Production | ($2.8B) | ($2.8B) | — | — |
| Acquisitions of oil and gas properties | ($7.6M) | ($7.6M) | ($241.2M) | ($56.6M) |
| Proceeds from Sale of PP&E | $757.0M | $737.1M | $16.0M | $11.5M |
| Change in other assets | ($24.1M) | ($12.6M) | ($11.8M) | ($2.3M) |
| Net cash used in investing activities | ($2.6B) | ($2.3B) | ($854.2M) | ($405.4M) |
| Issuances and borrowings of debt | $5.5B | — | — | — |
| Repayments of debt. | ($4.3B) | — | — | — |
| Repurchases of common stock | ($37.9M) | — | ($136.3M) | ($85.0M) |
| Payment of debt issuance costs | ($10.8M) | ($10.8M) | ($1.1M) | — |
| Distributions to noncontrolling interests in Martica Holdings LLC | ($25.0M) | ($17.6M) | ($54.0M) | ($37.5M) |
| Employee tax withholding for settlement of equity-based compensation awards | ($34.9M) | ($34.7M) | ($26.7M) | ($26.6M) |
| Other | ($657.0K) | ($255.0K) | ($1.1M) | ($719.0K) |
| Net cash provided by (used in) financing activities | $1.1B | $1.2B | ($406.0M) | ($544.7M) |
| Net decrease in cash, cash equivalents and restricted cash | ($210.0M) | ($210.0M) | $0 | $0 |
| Cash, cash equivalents and restricted cash, beginning of period | $210.0M | $210.0M | $0 | $0 |
| Cash, cash equivalents and restricted cash, end of period | $0 | $0 | — | — |
| Cash paid during the period for interest | $70.0M | $50.6M | $80.9M | $48.0M |
| Increase (decrease) in accounts payable, accrued liabilities and other current liabilities for additions to property and equipment | $34.5M | $44.3M | — | ($29.6M) |
| In-kind liquidating distribution to noncontrolling interests | $160.6M | — | — | — |
Antero Resources Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.