Borr Drilling Ltd (BORR) financial statements: income statement, balance sheet and cash flow
Borr Drilling Ltd'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), Borr Drilling Ltd reported revenue of $1.0B (+1.0% year on year) and net income of $45.0M (-45.2% year on year).
Income statement
Borr Drilling Ltd income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total operating revenues
$1.0B
$1.0B
—
$443.8M
Gain on disposals
$300.0K
$400.0K
$600.0K
$4.2M
Rig operating and maintenance expenses
($500.6M)
($456.4M)
($359.3M)
($264.9M)
Depreciation of non-current assets
($148.0M)
($131.2M)
($117.4M)
($116.5M)
General and administrative expenses
($50.4M)
($49.2M)
($45.1M)
($36.8M)
Total operating expenses
($699.0M)
($636.8M)
($521.8M)
($549.9M)
Operating income
$322.1M
$374.2M
$250.4M
($101.9M)
(Loss) / income from equity method investments
($2.7M)
($1.2M)
$4.9M
$1.2M
Interest income
$3.7M
$6.4M
$4.9M
$5.4M
Interest expense
($228.4M)
($211.7M)
($177.2M)
—
Other financial expenses, net
($8.8M)
($27.4M)
($26.9M)
($49.8M)
Total financial expenses, net
($233.5M)
($232.7M)
($199.2M)
($175.7M)
Income before income taxes
$85.9M
$140.3M
—
—
Income tax expense
($40.9M)
($58.2M)
($34.0M)
($18.4M)
Net income attributable to shareholders of Borr Drilling Limited
$45.0M
$82.1M
$22.1M
($292.8M)
Basic income per share (in dollars per share)
$0.17
$0.33
$0.09
-$1.64
Diluted income per share (in dollars per share)
$0.17
$0.32
$0.09
-$1.64
Weighted-average shares outstanding, basic (in shares)
262.3M
250.9M
244.3M
178.4M
Weighted-average shares outstanding, diluted (in shares)
264.5M
254.5M
248.2M
178.4M
Borr Drilling Ltd income statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Total operating revenues
$479.3M
$484.3M
$505.9M
$359.5M
Gain on disposals
$100.0K
$400.0K
$400.0K
$300.0K
Rig operating and maintenance expenses
($319.8M)
($232.0M)
($228.1M)
($175.0M)
Depreciation of non-current assets
($86.0M)
($72.6M)
($63.7M)
($56.2M)
General and administrative expenses
($27.3M)
($23.4M)
($25.0M)
($22.7M)
Total operating expenses
($433.1M)
($328.0M)
($316.8M)
($253.9M)
Operating income
$46.3M
$156.7M
$189.5M
$105.9M
Other non-operating income
$6.0M
—
—
$0
Loss from equity method investments
($1.5M)
($2.0M)
$2.9M
$6.3M
Interest income
$3.4M
$1.1M
$3.8M
$4.1M
Interest expense
($299.6M)
($115.3M)
($101.0M)
($75.2M)
Other financial (expenses) / income, net
($3.0M)
($4.9M)
($16.0M)
($19.0M)
Total financial expenses, net
($299.2M)
($119.1M)
($113.2M)
($90.1M)
(Loss) / income before income taxes
($248.4M)
$35.6M
$79.2M
—
Income tax expense
($22.0M)
($17.4M)
($33.1M)
($28.7M)
Net (loss) / income attributable to shareholders
($270.4M)
$18.2M
$46.1M
($6.6M)
Total comprehensive (loss) / income attributable to shareholders
($270.4M)
$18.2M
$46.1M
—
Basic loss per share (in dollars per share)
-$0.88
$0.08
$0.18
-$0.03
Diluted loss per share (in dollars per share)
-$0.88
$0.08
$0.18
-$0.03
Weighted-average shares outstanding - basic (in shares)
307.7M
241.1M
252.0M
239.8M
Weighted-average shares outstanding - diluted (in shares)
307.7M
242.4M
289.3M
239.8M
Balance sheet
Borr Drilling Ltd balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$379.7M
$61.6M
$102.5M
$108.0M
Restricted cash
$1.0M
$900.0K
$100.0K
$2.5M
Trade receivables, net
$194.1M
$269.4M
$151.2M
$43.0M
Prepaid expenses
$8.3M
$8.4M
$11.0M
$9.6M
Deferred mobilization and contract preparation cost
$29.3M
$40.6M
$39.4M
$38.4M
Accrued revenue
$132.9M
$107.7M
$73.7M
$57.4M
Other current assets
$23.1M
$28.0M
$32.0M
$25.4M
Total current assets
$768.4M
$516.6M
$409.9M
$349.9M
Property, plant and equipment
$2.0M
$2.8M
$3.5M
$3.9M
Jack-up drilling rigs, net
$2.7B
$2.8B
$2.6B
$2.6B
Equity method investments
$11.8M
$14.5M
$15.7M
$20.6M
Other non-current assets
$100.7M
$62.5M
$67.3M
$26.7M
Total non-current assets
$2.9B
$2.9B
$2.7B
$2.7B
Total assets
$3.6B
$3.4B
$3.1B
$3.0B
Trade payables
$33.8M
$81.6M
$35.5M
$47.7M
Accrued expenses
$76.0M
$68.0M
$77.0M
$80.8M
Short-term accrued interest and other items
$31.2M
$30.6M
$42.3M
$77.7M
Short-term debt
$129.3M
$118.1M
$82.9M
$445.9M
Short-term deferred mobilization, demobilization and other revenue
$24.2M
$27.1M
$59.5M
$57.3M
Other current liabilities
$56.2M
$84.2M
$63.2M
$36.2M
Total current liabilities
$350.7M
$409.6M
$360.4M
$745.6M
Long-term debt
$2.0B
$2.0B
$1.6B
$1.2B
Long-term deferred mobilization, demobilization and other revenue
$29.5M
$21.0M
$56.6M
$68.7M
Other non-current liabilities
$1.8M
$3.2M
$5.8M
$14.3M
Total non-current liabilities
$2.1B
$2.0B
$1.7B
$1.4B
Total liabilities
$2.4B
$2.4B
$2.1B
$2.1B
Share Capital - Common shares of par value $0.10 per share: authorized 365,000,000 (315,000,000 in 2024), issued 315,400,000 (264,080,391 in 2024) and outstanding 307,215,419 (244,926,821 in 2024) shares
$31600000.00
$26500000.00
$26500000.00
$23000000.00
Treasury shares
-18.1M
-20.9M
-8.9M
-9.8M
Additional paid in capital
$521.9M
$340.8M
$337.2M
$2.3B
Contributed surplus
$1.9B
$1.9B
$2.0B
—
Accumulated deficit
($1.2B)
($1.3B)
($1.4B)
($1.4B)
Total equity
$1.2B
$993.3M
$984.0M
$897.8M
Total liabilities and equity
$3.6B
$3.4B
$3.1B
$3.0B
Ordinary shares, par value (in dollars per share)
$0.10
—
—
—
Borr Drilling Ltd balance sheet, quarters
Line item
Jun 30, 2026
Jun 30, 2025
Jun 30, 2024
Jun 30, 2023
Cash and cash equivalents
$223.6M
$92.4M
$193.5M
$83.8M
Restricted cash
$1.0M
$1.0M
$1.0M
$0
Trade receivables, net
$196.4M
$155.6M
$178.5M
$53.9M
Prepaid expenses
$12.8M
$17.2M
$12.8M
$9.2M
Deferred costs
$27.5M
$33.7M
$31.8M
$25.7M
Total short-term accrued revenue
$108.2M
—
—
—
Other current assets
$27.3M
$30.8M
$24.8M
$32.8M
Total current assets
$596.8M
$468.3M
$546.2M
$341.9M
Property, plant and equipment
$1.8M
$2.3M
$3.3M
$4.0M
Jack-up drilling rigs, net
$3.0B
$2.8B
$2.5B
$2.6B
Equity method investments
$10.3M
$12.5M
$18.6M
$17.1M
Other non-current assets
$50.9M
$76.2M
$51.6M
$30.7M
Total non-current assets
$3.1B
$2.9B
$2.6B
$2.7B
Total assets
$3.7B
$3.4B
$3.2B
$3.0B
Trade payables
$61.6M
$63.8M
$58.3M
$37.8M
Accrued expenses
$89.1M
$65.0M
$69.7M
$90.6M
Short-term accrued interest
$21.0M
$29.7M
$37.2M
$76.3M
Short-term debt
$0
$118.1M
$97.8M
$97.9M
Short-term deferred revenue
$21.6M
$42.8M
$33.4M
$52.4M
Other current liabilities
$42.4M
$47.7M
$52.6M
$43.5M
Total current liabilities
$235.7M
$367.1M
$349.0M
$398.5M
Long-term debt
$2.5B
$1.9B
$1.7B
$1.5B
Long-term deferred revenue
$12.2M
$37.4M
$27.9M
$54.7M
Other non-current liabilities
$1.5M
$1.2M
$5.2M
$16.9M
Total non-current liabilities
$2.5B
$2.0B
$1.8B
$1.7B
Total liabilities
$2.7B
$2.3B
$2.2B
$2.1B
Commitments and contingencies
$0
—
—
—
Common shares of par value $0.10 per share: authorized 365,000,000 (2025: 365,000,000) shares, issued 315,400,000 (2025: 315,400,000) shares and outstanding 308,512,741 (2025: 307,215,419) shares
$31600000.00
$24500000.00
$26500000.00
$25500000.00
Treasury shares
-6.4M
-20.0M
-9.1M
-10.7M
Additional paid in capital
$519.6M
$347.7M
$342.3M
$2.3B
Contributed surplus
$1.9B
$1.9B
$2.0B
—
Accumulated deficit
($1.5B)
($1.3B)
($1.3B)
($1.4B)
Total equity
$961.6M
$1.0B
$999.2M
$906.2M
Total liabilities and equity
$3.7B
$3.4B
$3.2B
$3.0B
Cash flow statement
Borr Drilling Ltd cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$45.0M
$82.1M
—
—
Non-cash share-based compensation expense
$11.3M
$9.1M
$5.6M
$2.6M
Depreciation of non-current assets
$148.0M
$131.2M
$117.4M
$116.5M
Amortization of deferred mobilization and contract preparation costs
$49.0M
$55.7M
$44.6M
$36.7M
Amortization of deferred mobilization, demobilization and other revenue
($49.7M)
($96.9M)
($61.9M)
($22.1M)
Amortization of debt discount
$6.8M
$6.8M
$1.0M
—
Amortization of debt premium
($2.7M)
($1.3M)
—
—
Amortization of deferred finance charges
$13.4M
$11.5M
$21.3M
$7.9M
Bank commitment, guarantee and other fees
$4.4M
$0
($2.9M)
$15.7M
Effective interest rate adjustments
$0
$0
($19.7M)
$2.8M
Loss / (income) from equity method investments
$2.7M
$1.2M
($4.9M)
($1.2M)
Deferred income tax
($3.2M)
$700.0K
($16.5M)
($2.1M)
Amounts due from related parties
$79.4M
$4.0M
—
—
Trade payables and accrued expenses
($22.4M)
—
—
—
Accrued interest
$5.8M
($5.4M)
($66.1M)
($35.8M)
Other current and non-current assets
($61.5M)
($218.2M)
($107.7M)
($139.2M)
Other current and non-current liabilities
$25.6M
$106.1M
$44.9M
$173.2M
Net cash provided by / (used in) operating activities
$251.9M
$77.3M
($50.7M)
$62.5M
Purchase of property, plant and equipment
($300.0K)
($500.0K)
($1.5M)
($1.8M)
Repayment of loan from joint venture
$0
$0
$9.8M
$0
Deposit for acquisition of jack-up drilling rigs
($36.0M)
—
—
—
Additions to newbuildings
$0
($354.1M)
($1.3M)
$0
Additions to jack-up drilling rigs
($88.2M)
($54.8M)
($111.2M)
($81.5M)
Net cash used in investing activities
($124.5M)
($409.4M)
($104.2M)
($82.6M)
Proceeds from share issuance, net of issuance costs
$177.2M
$0
$58.1M
$298.1M
Repayment of debt
($141.5M)
($286.1M)
($1.8B)
($355.5M)
Cash distributions paid
($4.7M)
($76.3M)
—
—
Debt proceeds, gross of premium / (net of discount and issuance costs)
$159.3M
$672.0M
$1.9B
—
Purchase of treasury shares
-200.0K
-19.9M
-800.0K
—
Proceeds from exercise of share options
$700.0K
$2.3M
$800.0K
—
Net cash provided by financing activities
$190.8M
$292.0M
$139.0M
$92.6M
Net increase / (decrease) in cash, cash equivalents and restricted cash
$318.2M
($40.1M)
($15.9M)
$72.5M
Cash, cash equivalents and restricted cash at beginning of the year
$62.5M
$102.6M
$118.5M
$46.0M
Cash, cash equivalents and restricted cash at end of the year
$380.7M
$62.5M
$102.6M
—
Interest paid
($205.1M)
($186.9M)
($217.4M)
($83.9M)
Non-cash offset of other current and non-current assets and jack-up drilling rigs, net
($10.0M)
—
—
—
Cash and cash equivalents
$379.7M
$61.6M
$102.5M
$108.0M
Restricted cash
$1.0M
$900.0K
$100.0K
$2.5M
Non-current restricted cash
$0
$0
$0
$8.0M
Total cash and cash equivalents and restricted cash
$380.7M
$62.5M
$102.6M
$118.5M
Borr Drilling Ltd cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Net (loss) / income
($270.4M)
$18.2M
$46.1M
—
Non-cash share-based compensation expense
$4.8M
$6.0M
$3.6M
$2.6M
Provision for credit losses
$19.9M
—
—
—
Depreciation of non-current assets
$86.0M
$72.6M
$63.7M
$56.2M
Other non-operating income
($6.0M)
—
—
—
Amortization of deferred costs
$22.1M
—
—
—
Amortization of deferred revenue
($24.3M)
—
—
—
Loss on debt extinguishment
$176.3M
—
—
—
Amortization of debt discount
$2.8M
$3.4M
$3.4M
—
Amortization of debt premium
($1.1M)
($1.4M)
($300.0K)
—
Amortization of deferred finance charges
$6.4M
$6.4M
$5.5M
$5.0M
Non-cash financing fee
$0
$4.4M
$0
$300.0K
Loss from equity method investments
$1.5M
$2.0M
($2.9M)
($6.3M)
Deferred income tax
($1.0M)
($6.0M)
($4.4M)
$800.0K
Amounts due from related parties
($1.6M)
$75.3M
—
—
Trade payables and accrued expenses
$45.7M
—
—
—
Accrued interest
($6.6M)
$2.5M
($9.1M)
($7.5M)
Other current and non-current assets
($18.9M)
($42.2M)
($71.8M)
($31.8M)
Other current and non-current liabilities
($9.3M)
($1.6M)
$38.1M
$8.5M
Net cash (used in) / provided by operating activities
$26.3M
$145.0M
$33.0M
($5.8M)
Purchase of property, plant and equipment
($300.0K)
($100.0K)
($400.0K)
($900.0K)
Proceeds from other non-operating activities
$6.0M
—
—
—
Additions to jack-up drilling rigs
($190.9M)
($38.4M)
($22.0M)
($53.8M)
Net cash used in investing activities
($185.2M)
($38.5M)
($32.1M)
($44.9M)
Repayment of debt
($2.3B)
($70.7M)
($70.9M)
($400.3M)
Cash distributions paid
$0
($4.7M)
—
—
Debt proceeds, net of issuance costs
$2.3B
$0
$208.3M
$416.3M
Purchase of treasury shares
0
-200.0K
—
—
Proceeds from exercise of share options
$4.6M
$0
$1.3M
—
Net cash provided by / (used in) financing activities
$2.8M
($75.6M)
$91.0M
$16.0M
Net (decrease) / increase in cash and cash equivalents and restricted cash
($156.1M)
$30.9M
$91.9M
($34.7M)
Cash and cash equivalents and restricted cash at the beginning of the period
$380.7M
$62.5M
$102.6M
$118.5M
Cash and cash equivalents and restricted cash at the end of the period
$224.6M
—
—
—
Interest paid
($121.8M)
($104.4M)
($98.2M)
($96.6M)
Income taxes paid
($21.8M)
($37.7M)
($30.0M)
($17.9M)
Non-cash additions to jack-up drilling rigs financed by long-term debt
$150.0M
—
—
—
Non-cash offset of other current and non-current assets and jack-up rigs
$2.8M
($9.1M)
—
—
Cash and cash equivalents
$223.6M
$92.4M
$193.5M
$83.8M
Restricted cash
$1.0M
$1.0M
$1.0M
$0
Total cash and cash equivalents and restricted cash