Excelerate Energy Inc (EE) financial statements: income statement, balance sheet and cash flow
Excelerate Energy Inc'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), Excelerate Energy Inc reported revenue of $1.2B (+44.3% year on year) and net income of $167.0M (+9.1% year on year).
Income statement
Excelerate Energy Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$1.2B
$851.4M
$1.2B
$2.5B
Cost of LNG, gas and power (exclusive of items below)
$537.8M
$215.6M
$228.2M
$209.2M
Operating expenses
$183.7M
—
—
—
Depreciation and amortization
$111.3M
$98.9M
$114.3M
$97.3M
Selling, general and administrative expenses
$94.5M
$94.1M
$87.5M
$66.1M
Transition and transaction expenses
$34.2M
$0
$0
$6.9M
Total operating expenses
$961.6M
$636.4M
$948.4M
$2.3B
Operating Income
$266.7M
$215.0M
$210.6M
$186.7M
Interest expense
($81.2M)
($47.4M)
($52.5M)
($33.9M)
Interest expense - related party
($12.9M)
($13.7M)
$14.5M
($25.6M)
Earnings from equity method investment
$2.3M
$2.2M
$883.0K
$2.7M
Other income, net
$20.0M
$22.9M
$15.6M
$312.0K
Income before income taxes
$194.9M
$179.1M
$160.1M
$108.3M
Provision for income taxes
($27.9M)
($26.1M)
($33.2M)
($28.3M)
Net income
$167.0M
$153.0M
$126.8M
$80.0M
Less net income attributable to non-controlling interest
$127.8M
$120.2M
$96.4M
$55.1M
Net income attributable to shareholders
$39.2M
$32.9M
$30.4M
$13.3M
Net income per common share - basic
$1.31
$1.29
$1.16
$0.51
Net income per common share - diluted
$1.28
$1.27
$1.11
$0.51
Weighted average shares outstanding - basic
29.9M
25.4M
26.3M
26.3M
Weighted average shares outstanding - diluted
30.6M
25.8M
108.3M
26.3M
Excelerate Energy Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenue
$329.3M
$433.4M
$391.0M
$204.6M
Cost of LNG, gas and power (exclusive of items below)
$135.3M
$243.0M
$201.9M
$40.4M
Operating expenses
$56.1M
$53.1M
$44.5M
$46.0M
Depreciation and amortization
$32.7M
$31.0M
$31.8M
$25.5M
Selling, general and administrative expenses
$24.3M
$24.3M
$23.4M
$21.5M
Transition and transaction expenses
$0
$0
$2.2M
$27.7M
Total operating expenses
$248.4M
$351.5M
$303.8M
$161.2M
Operating Income
$80.9M
$82.0M
$87.2M
$43.4M
Interest expense
($24.2M)
($24.5M)
($24.9M)
($20.7M)
Interest expense - related party
($3.1M)
($3.1M)
($3.2M)
($3.2M)
Earnings from equity method investment
$642.0K
$604.0K
$497.0K
$600.0K
Other income, net
$1.7M
$4.5M
$3.4M
$6.3M
Income before income taxes
$56.0M
$59.4M
$63.0M
$26.3M
Benefit from (provision for) income taxes
$5.9M
($9.5M)
($7.9M)
($5.6M)
Net income
$50.1M
$50.0M
$55.0M
$20.8M
Less net income attributable to non-controlling interest
$38.0M
$37.7M
$41.1M
$16.0M
Net income attributable to shareholders
$12.1M
$12.3M
$14.0M
$4.7M
Net income per common share - basic
$0.38
$0.38
$0.44
$0.15
Net income per common share - diluted
$0.37
$0.37
$0.43
$0.15
Weighted average shares outstanding - basic
31.7M
32.1M
32.0M
31.5M
Weighted average shares outstanding - diluted
32.4M
33.0M
32.7M
32.2M
Balance sheet
Excelerate Energy Inc 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
$538.2M
$537.5M
$555.9M
$516.7M
Current portion of restricted cash
$3.2M
$2.6M
$2.7M
$2.6M
Accounts receivable, net
$82.7M
$120.0M
$97.3M
$79.7M
Current portion of net investments in sales-type leases
$38.9M
$43.5M
$16.5M
$13.3M
Other current assets
$90.3M
$50.7M
$24.4M
$35.0M
Total current assets
$753.4M
$754.3M
$699.6M
$823.5M
Restricted cash
$15.0M
$14.4M
$13.9M
$18.7M
Property and equipment, net
$2.1B
$1.6B
$1.6B
$1.5B
Intangible assets, net
$359.2M
—
—
—
Goodwill
$235.0M
—
—
—
Operating lease right-of-use assets
$167.2M
—
$6.3M
$78.6M
Net investments in sales-type leases
$337.9M
$376.8M
$383.5M
$399.6M
Investment in equity method investee
$18.1M
$19.3M
$21.3M
$24.5M
Deferred tax assets, net
$25.2M
$27.6M
$42.9M
$39.9M
Other assets
$88.3M
$68.0M
$43.0M
$26.3M
Total assets
$4.1B
$2.9B
$2.9B
$2.9B
Accounts payable
$46.6M
$7.1M
$13.8M
$94.8M
Accrued liabilities and other liabilities
$123.0M
$71.6M
$88.1M
$66.9M
Current portion of deferred revenue
$57.1M
$58.2M
$27.2M
$144.8M
Current portion of long-term debt
$23.5M
$46.8M
$42.6M
$20.9M
Current portion long-term debt - related party
$10.5M
$8.9M
$8.3M
—
Current portion of operating lease liabilities
$23.9M
—
$1.7M
$33.6M
Current portion of finance lease liabilities
$25.4M
$23.5M
$22.1M
$20.8M
Total current liabilities
$310.1M
$216.1M
$203.8M
$391.5M
Long-term debt, net
$912.8M
$286.8M
$333.4M
$193.4M
Long-term debt,net - related party
$151.4M
$162.0M
$171.7M
$180.8M
Operating lease liabilities
$138.7M
—
$5.0M
$48.4M
Finance lease liabilities
$144.6M
$167.9M
$189.8M
$210.4M
TRA liability
$51.1M
$58.7M
$67.1M
$73.0M
Asset retirement obligations
$62.8M
$43.7M
$41.8M
$39.8M
Long-term deferred revenue
$29.2M
$27.7M
—
$32.9M
Deferred tax liability
$64.7M
—
—
—
Other long-term liabilities
$37.0M
$31.8M
$38.5M
—
Total liabilities
$1.9B
$994.7M
$1.1B
$1.2B
Common stock Value
$117.0K
$108.0K
$108.0K
$108.0K
Additional paid-in capital
$634.8M
$467.4M
$465.6M
$464.7M
Retained earnings
$102.6M
$72.3M
$39.8M
$12.0M
Accumulated other comprehensive income (loss)
($112.0K)
$502.0K
$505.0K
$515.0K
Treasury stock (2,685,679 shares as of December 31, 2025 and 2,564,058 shares as of December 31, 2024
-55.0M
-52.4M
-472.0K
—
Non-controlling interest
$1.5B
$1.4B
$1.3B
$1.2B
Total equity
$2.2B
$1.9B
$1.8B
$1.7B
Total liabilities and equity
$4.1B
$2.9B
$2.9B
$2.9B
Excelerate Energy Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$342.4M
$540.1M
$462.6M
$426.0M
Current portion of restricted cash
$3.2M
$4.2M
$4.2M
$3.2M
Accounts receivable, net
$97.4M
$92.7M
$119.4M
$78.8M
Current portion of net investments in sales-type leases
$29.7M
$34.3M
$43.6M
$45.4M
Other current assets
$122.4M
$95.8M
$64.9M
$55.9M
Total current assets
$595.3M
$767.2M
$694.7M
$609.3M
Restricted cash
$15.5M
$15.3M
$15.0M
$14.8M
Property and equipment, net
$2.4B
$2.1B
$2.1B
$2.1B
Intangible assets, net
$351.4M
$355.3M
$363.1M
$365.4M
Goodwill
$235.2M
$238.5M
$245.0M
$249.2M
Operating lease right-of-use assets
$155.5M
$162.3M
$172.8M
$177.1M
Net investments in sales-type leases
$324.1M
$331.2M
$344.5M
$353.8M
Investments in equity method investee
$19.6M
$18.9M
$20.2M
$19.8M
Deferred tax assets, net
$24.5M
$24.0M
$27.4M
$31.3M
Other assets
$84.7M
$92.6M
$84.7M
$90.5M
Total assets
$4.2B
$4.1B
$4.1B
$4.0B
Accounts payable
$71.0M
$8.2M
$51.1M
$20.6M
Accrued liabilities and other liabilities
$144.5M
$161.5M
$125.9M
$101.9M
Current portion of deferred revenues
$30.4M
$42.1M
$33.2M
$34.7M
Current portion of long-term debt
$24.0M
$23.7M
$23.2M
$20.1M
Current portion of long-term debt - related party
$10.0M
$9.9M
$9.5M
$9.3M
Current portion of operating lease liabilities
$25.0M
$24.7M
$23.5M
$23.2M
Current portion of finance lease liabilities
$25.8M
$25.4M
$24.6M
$24.2M
Total current liabilities
$330.8M
$295.4M
$291.0M
$234.0M
Long-term debt, net
$902.2M
$908.3M
$918.8M
$926.1M
Long-term debt, net - related party
$145.9M
$148.7M
$154.2M
$156.8M
Operating lease liabilities
$127.1M
$133.8M
$144.5M
$149.1M
Finance lease liabilities
$132.4M
$138.6M
$150.6M
$156.5M
TRA liability
$50.0M
$51.1M
$59.0M
$59.0M
Asset retirement obligations
$64.5M
$63.6M
$62.0M
$50.2M
Long-term deferred revenues
$28.2M
$28.7M
$27.3M
$27.4M
Deferred tax liability
$66.8M
$65.3M
—
—
Other long-term liabilities
$43.1M
$46.4M
$94.2M
$101.6M
Total liabilities
$1.9B
$1.9B
$1.9B
$1.9B
Common stock Value
$117.0K
$117.0K
$117.0K
$117.0K
Additional paid-in capital
$659.0M
$649.5M
$634.2M
$633.7M
Retained earnings
$121.8M
$112.2M
$96.2M
$84.9M
Accumulated other comprehensive income (loss)
($510.0K)
($1.0M)
($23.0K)
$113.0K
Treasury stock (3,774,732 shares as of June 30, 2026 and 2,685,679 shares as of December 31, 2025)
-93.5M
-69.7M
-54.8M
-54.7M
Non-controlling interests
$1.6B
$1.6B
$1.5B
$1.5B
Total equity
$2.3B
$2.3B
$2.2B
$2.1B
Total liabilities and equity
$4.2B
$4.1B
$4.1B
$4.0B
Cash flow statement
Excelerate Energy Inc 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
$167.0M
$153.0M
$126.8M
$80.0M
Depreciation and amortization
$111.3M
$98.9M
$114.3M
$97.3M
Amortization of operating lease right-of-use assets
$15.4M
$2.0M
$14.7M
$31.7M
ARO accretion expense
$2.8M
$1.9M
$1.8M
$1.5M
Amortization of debt issuance costs
$7.3M
$3.4M
$6.4M
$2.7M
Deferred income taxes
$3.0M
$3.8M
($3.3M)
$2.3M
Share of net earnings in equity method investee
($2.3M)
($2.2M)
($883.0K)
($2.7M)
Distributions from equity method investee
$3.3M
$1.8M
$4.7M
$5.0M
Long-term incentive compensation expense
$12.0M
$7.2M
$3.6M
$956.0K
(Gain)/loss on non-cash items
$0
($44.0K)
$1.0M
($2.2M)
Accounts receivable
$83.0M
($21.1M)
($21.0M)
$197.9M
Other current assets and other assets
($28.5M)
($49.3M)
($12.2M)
($22.8M)
Accounts payable and accrued liabilities
$68.2M
($25.3M)
($54.1M)
($258.3M)
Current portion of deferred revenue
($5.8M)
$31.0M
($117.6M)
$135.2M
Net investments in sales-type leases
$43.5M
$25.7M
$12.9M
$12.2M
Operating lease assets and liabilities
($14.9M)
—
($14.8M)
($30.3M)
Tax receivable agreement liability
($7.8M)
($3.4M)
($5.9M)
—
Other long-term liabilities
$3.7M
$17.0M
$5.8M
$16.9M
Net cash provided by operating activities
$461.2M
$244.4M
$231.9M
$225.1M
Net cash paid for Acquisition
($1.0B)
—
—
—
Purchases of property and equipment
($163.0M)
($113.3M)
($312.7M)
($119.3M)
Sales of property and equipment
$0
$0
$4.1M
—
Net cash used in investing activities
($1.2B)
($113.3M)
($308.6M)
($119.3M)
Proceeds from issuance of Class A Common stock, net
$201.8M
$0
$0
$412.1M
Repurchase of Class A Common Stock
$0
($50.0M)
$0
($140.0M)
Proceeds from issuance of long-term debt
$800.0M
$0
$250.0M
—
Repayments of long term debt
($187.0M)
($44.6M)
($22.0M)
($20.3M)
Repayments of long-term debt - related party
($8.9M)
($9.1M)
($8.4M)
($653.4M)
Payment of debt issuance costs
($21.2M)
$0
($7.7M)
($6.0M)
Principal payments under finance lease liabilities
($21.6M)
($20.5M)
($20.6M)
($20.5M)
Taxes withheld for long-term incentive compensation
($1.4M)
($400.0K)
—
—
Dividends paid
($8.5M)
($3.4M)
($2.6M)
($1.3M)
Distributions
($29.8M)
($22.5M)
($16.2M)
($4.1M)
Other financing activities
($314.0K)
—
—
—
Net cash provided by (used in) financing activities
$723.1M
($149.0M)
$111.4M
$341.2M
Effect of exchange rate on cash, cash equivalents, and restricted cash
$87.0K
($119.0K)
($121.0K)
—
Net increase (decrease) in cash, cash equivalents and restricted cash
$2.0M
($18.0M)
$34.5M
$447.0M
Beginning of period
$554.5M
$572.5M
$538.0M
$91.0M
End of period
$556.5M
$554.5M
$572.5M
$538.0M
Excelerate Energy Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$100.1M
$50.0M
$127.9M
$72.9M
Depreciation and amortization
$63.7M
$31.0M
$78.9M
$47.2M
Amortization of operating lease right-of-use assets
$12.7M
$6.3M
$9.3M
$3.3M
ARO accretion expense
$1.7M
$834.0K
$1.9M
$960.0K
Amortization of debt issuance costs
$2.9M
$1.5M
$5.9M
$4.4M
Deferred income taxes
$3.2M
$1.4M
$2.5M
$845.0K
Share of net earnings in equity method investee
($1.2M)
($604.0K)
($1.7M)
($1.2M)
Distributions from equity method investee
$900.0K
$900.0K
$1.5M
$1.5M
Long-term incentive compensation expense
$6.6M
$3.3M
$8.6M
$5.4M
(Gain) loss on non-cash items
$4.0K
—
$0
$0
Accounts receivable
($15.6M)
($10.9M)
$45.6M
$85.6M
Other current assets and other assets
($27.4M)
($8.2M)
$5.9M
$1.9M
Accounts payable and accrued liabilities
$43.7M
($5.3M)
$75.0M
$16.2M
Current portion of deferred revenue
($26.7M)
($15.1M)
($29.7M)
($28.2M)
Net investments in sales-type leases
$23.0M
$11.3M
$32.2M
$21.1M
Operating lease assets and liabilities
($11.5M)
($5.6M)
($9.1M)
($3.2M)
Other long-term liabilities
($1.8M)
($863.0K)
$2.1M
$13.3M
Net cash provided by operating activities
$174.2M
$60.0M
$356.8M
$241.9M
Net cash paid for Acquisition
$0
—
($1.0B)
($1.0B)
Purchases of property and equipment
($283.8M)
($26.3M)
($129.4M)
($77.4M)
Net cash used in investing activities
($283.8M)
($26.3M)
($1.2B)
($1.1B)
Proceeds from issuance of Class A Common stock, net
$0
—
$201.8M
$201.9M
Repurchase of Class A Common Stock
($28.4M)
($4.5M)
$0
$0
Proceeds from issuance of long-term debt
$0
—
$800.0M
$800.0M
Repayments of long-term debt
($12.0M)
($5.2M)
($180.3M)
($175.2M)
Repayments of long-term debt - related party
($6.0M)
($3.4M)
($7.3M)
($4.8M)
Payment of debt issuance costs
$0
$0
($20.3M)
($19.4M)
Principal payments under finance lease liabilities
($11.4M)
($5.9M)
($16.2M)
($10.7M)
Taxes withheld for long-term incentive compensation
($3.1M)
($2.6M)
($1.0M)
($1.0M)
Dividends paid
($5.2M)
($2.7M)
($5.9M)
($3.4M)
Distributions
($20.7M)
($7.3M)
($22.5M)
($14.0M)
Other financing activities
$902.0K
$656.0K
($393.0K)
($433.0K)
Net cash provided by (used in) financing activities
($86.0M)
($30.8M)
$747.8M
$773.0M
Effect of exchange rate on cash, cash equivalents, and restricted cash
$219.0K
$199.0K
$87.0K
$88.0K
Net decrease in cash, cash equivalents and restricted cash