Greenfire Resources Ltd (GFR) financial statements: income statement, balance sheet and cash flow
Greenfire Resources 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), Greenfire Resources Ltd reported net income of $55.3M (+51.4% year on year).
Income statement
Greenfire Resources Ltd income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Oil sales, net of royalties
$584.4M
$790.9M
$652.3M
Gain (loss) on risk management contracts
$42.6M
($27.5M)
$16.4M
Gross profit
$627.0M
$763.5M
$668.7M
Diluent expense
$232.8M
$327.1M
$304.7M
Transportation and marketing
$49.9M
$52.7M
$55.7M
Operating expenses
$129.0M
$152.9M
$149.0M
General and administrative
$22.9M
$22.8M
$11.5M
Stock-based compensation
$2.9M
$6.3M
$9.8M
Financing and interest
$77.6M
$61.5M
$110.2M
Depletion and depreciation
$83.6M
$81.0M
$68.1M
Exploration expenses
$2.2M
$1.8M
$3.9M
Other income
($3.4M)
($5.0M)
($2.9M)
Gain on revaluation of warrants
($14.2M)
($326.0K)
($35.0M)
Foreign exchange (gain) loss
($11.7M)
—
($8.7M)
Total expenses
$571.7M
$726.9M
$785.0M
Net income before taxes
$55.3M
$36.5M
($116.3M)
Income tax (expense) recovery
($7.8M)
$84.9M
($19.4M)
Net income and comprehensive income
$47.5M
$121.4M
—
Basic (in Dollars per share)
$0.66
$1.76
-$2.49
Diluted (in Dollars per share)
$0.66
$1.70
-$2.49
Greenfire Resources Ltd income statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Oil sales, net of royalties
$314.5M
$143.0M
Gain (loss) on risk management contracts
($71.4M)
($94.6M)
Gross profit
$243.1M
$48.4M
Diluent expense
$129.9M
$60.2M
Transportation and marketing
$24.0M
$12.4M
Operating expenses
$56.9M
$35.7M
General and administrative
$10.6M
$5.4M
Stock-based compensation
$148.0K
$68.0K
Financing and interest
$3.4M
$1.7M
Depletion and depreciation
$40.3M
$20.7M
Exploration expenses
$2.3M
$887.0K
Other income
($1.5M)
($998.0K)
Loss (gain) on revaluation of warrants
$2.2M
$5.5M
Foreign exchange gain
($332.0K)
($56.0K)
Total expenses
$267.9M
$141.6M
Net income (loss) before taxes
($24.8M)
($93.2M)
Income tax recovery (expense)
$5.3M
$20.2M
Net income (loss) and comprehensive income (loss)
($19.5M)
($73.0M)
Basic (in Dollars per share)
-$0.16
—
Diluted (in Dollars per share)
-$0.16
-$0.58
Balance sheet
Greenfire Resources Ltd balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Cash and cash equivalents
$42.0M
$67.4M
$109.5M
Accounts receivable
$66.2M
$56.4M
$34.7M
Inventories
$20.6M
$14.9M
$13.9M
Prepaid expenses and deposits
$9.4M
$5.5M
$5.7M
Risk management contracts
$11.0M
$248.0K
$417.0K
Total current assets
$149.2M
$144.2M
$163.8M
Property, plant and equipment
$990.1M
$960.1M
$941.4M
Deferred income tax asset
$146.2M
$153.2M
$68.3M
Total non-current assets
$1.1B
$1.1B
$1.0B
Total assets
$1.3B
$1.3B
$1.2B
Accounts payable and accrued liabilities
$88.4M
$61.8M
$59.9M
Current portion of lease liabilities and other
$3.3M
$7.0M
$6.0M
Warrant liability
$4.1M
$18.3M
$18.6M
Total current liabilities
$95.8M
$335.9M
$130.3M
Lease liabilities and other
$2.8M
$2.3M
$7.7M
Decommissioning liabilities
$19.9M
$17.4M
$8.4M
Total non-current liabilities
$22.8M
$100.2M
$348.2M
Total liabilities
$118.6M
$436.0M
$478.5M
Share capital
$462.9M
$164.4M
$158.5M
Contributed surplus
$8.3M
$8.9M
$9.8M
Retained earnings
$695.6M
$648.1M
$526.7M
Total shareholders' equity
$1.2B
$821.4M
$695.0M
Total liabilities and shareholders' equity
$1.3B
$1.3B
$1.2B
Greenfire Resources Ltd balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Cash
$3.0M
$544.0K
Accounts receivable
$69.6M
$83.4M
Inventories
$21.4M
$19.8M
Prepaid expenses and deposits
$5.9M
$7.0M
Risk management contracts
$1.6M
—
Assets held for sale
$3.9M
—
Total current assets
$105.4M
$110.7M
Property, plant and equipment
$1.1B
$1.0B
Deferred income tax asset
$151.5M
$166.4M
Total non-current assets
$1.2B
$1.2B
Total assets
$1.3B
$1.3B
Accounts payable and accrued liabilities
$86.8M
$84.8M
Current portion of lease liabilities and other
$2.4M
$1.3M
Warrant liability
$6.3M
$9.6M
Risk management contracts
$11.9M
$72.9M
Liabilities associated with assets held for sale
$2.9M
—
Total current liabilities
$110.4M
$168.6M
Risk management contracts
$7.0M
$7.5M
Debt
$24.6M
$2.4M
Lease liabilities and other
$5.1M
$5.7M
Decommissioning liabilities
$18.1M
$20.5M
Total non-current liabilities
$54.8M
$36.1M
Total liabilities
$165.2M
$204.8M
Share capital
$462.9M
$462.9M
Contributed surplus
$7.9M
$8.1M
Retained earnings
$676.1M
$622.6M
Total shareholders' equity
$1.1B
$1.1B
Total liabilities and shareholders' equity
$1.3B
$1.3B
Cash flow statement
Greenfire Resources Ltd cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Net income
$47.5M
$121.4M
($135.7M)
Income tax expense (recovery)
$7.8M
—
—
Unrealized gain on risk management contracts
($11.3M)
($169.0K)
($26.6M)
Depletion and depreciation
$84.3M
$80.7M
$67.9M
Stock-based compensation
$2.9M
$6.3M
$9.8M
Financing expense
$36.6M
—
—
Foreign exchange (gain) loss
($10.5M)
$26.5M
($9.0M)
Gain on revaluation of warrants
($14.2M)
($326.0K)
($35.0M)
Other income
($294.0K)
—
—
Decommissioning costs
($1.1M)
—
$68.0K
Change in non-cash working capital
($5.2M)
($19.6M)
$25.5M
Cash provided by operating activities
$136.5M
$144.5M
$86.5M
Repayment of long-term debt
($329.3M)
($84.3M)
($294.6M)
Debt redemption premium
($19.7M)
($4.2M)
$19.2M
Proceeds on issuance of common shares
298.7M
—
67.1M
Share issuance costs
($3.5M)
—
—
Payment of lease liabilities
($4.3M)
($6.9M)
($99.0K)
Cash used in financing activities
($58.2M)
($95.4M)
$2.0K
Property, plant and equipment expenditures
($111.8M)
($87.4M)
($33.4M)
Change in non-cash working capital (accrued additions to PP&E)
$11.5M
($2.6M)
($14.0M)
Cash used in investing activities
($100.2M)
($94.4M)
($12.1M)
Exchange rate impact on cash and cash equivalents held in foreign currency