Helix Energy Solutions Group Inc (HLX) financial statements: income statement, balance sheet and cash flow
Helix Energy Solutions Group 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), Helix Energy Solutions Group Inc reported revenue of $1.3B (-4.9% year on year) and net income of $30.8M (-44.6% year on year).
Income statement
Helix Energy Solutions Group Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net revenues
$1.3B
$1.4B
$1.3B
$873.1M
Cost of sales
$1.1B
$1.1B
$1.1B
$822.5M
Gross profit
$159.1M
$219.6M
$200.4M
$50.6M
Long-lived asset impairment
($18.1M)
—
—
—
Selling, general and administrative expenses
($75.9M)
($91.7M)
($94.4M)
($76.8M)
Income from operations
$65.1M
$127.4M
$63.5M
($44.9M)
Net interest expense
($22.8M)
($22.6M)
($17.3M)
($18.9M)
Other expense, net
($1.4M)
($3.9M)
($3.6M)
($23.3M)
Royalty income and other
$1.5M
$2.1M
$2.2M
$3.7M
Income before income taxes
$42.5M
$82.1M
$7.5M
($75.2M)
Income tax provision
$11.7M
$26.4M
$18.4M
$12.6M
Net income (loss)
$30.8M
$55.6M
($10.8M)
($87.8M)
Basic (in dollars per share)
$0.21
$0.37
-$0.07
-$0.58
Diluted (in dollars per share)
$0.21
$0.36
-$0.07
-$0.58
Basic (in shares)
148.3M
152.0M
150.9M
151.3M
Diluted (in shares)
148.5M
154.7M
150.9M
151.3M
Helix Energy Solutions Group Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net revenues
$304.0M
$287.9M
$377.0M
$302.3M
Cost of sales
$247.8M
$279.1M
$310.9M
$287.3M
Gross profit
$56.2M
$8.8M
$66.0M
$14.9M
Transaction-related costs
($8.3M)
—
—
—
Selling, general and administrative expenses
($21.1M)
($22.1M)
($18.2M)
($18.1M)
Income (loss) from operations
$26.7M
($13.3M)
$47.9M
($3.2M)
Net interest expense
($4.4M)
($5.2M)
($5.6M)
($5.9M)
Other income (expense), net
($154.0K)
$298.0K
($983.0K)
$437.0K
Royalty income and other
$218.0K
$1.7M
—
($5.0K)
Income (loss) from continuing operations before income taxes
$22.4M
($16.6M)
$41.3M
($8.6M)
Income tax provision (benefit)
$7.1M
($3.2M)
$19.2M
($6.0M)
Income (loss) from continuing operations
$15.3M
—
—
—
Income (loss) from discontinued operations, net of tax
$7.5M
—
—
—
Net income (loss)
$22.7M
($13.4M)
$22.1M
($2.6M)
Continuing operations, Basic (in dollars per share)
$0.10
—
—
—
Discontinued operations, Basic (in dollars per share)
$0.05
—
—
—
Net income (loss) per common share, Basic (in dollars per share)
$0.15
-$0.09
$0.15
-$0.02
Continuing operations, Diluted (in dollars per share)
$0.10
—
—
—
Discontinued operations, Diluted (in dollars per share)
$0.05
—
—
—
Net income (loss) per common share, Diluted (in dollars per share)
$0.15
-$0.09
$0.15
-$0.02
Basic (in shares)
147.2M
147.2M
146.9M
148.5M
Diluted (in shares)
148.1M
147.2M
147.7M
148.5M
Balance sheet
Helix Energy Solutions Group 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
$445.2M
$368.0M
$332.2M
$186.6M
Accounts receivable, net of allowance for credit losses of $3,529 and $3,682, respectively
$303.9M
$258.6M
$280.4M
$212.8M
Other current assets
$75.9M
$83.0M
$85.2M
$58.7M
Total current assets
$825.0M
$709.7M
$697.8M
$460.6M
Property and equipment
$3.2B
$3.1B
$3.1B
$3.0B
Less accumulated depreciation
($1.8B)
($1.6B)
($1.5B)
($1.4B)
Property and equipment, net
$1.4B
$1.4B
$1.6B
$1.6B
Operating lease right-of-use assets
$302.6M
$329.6M
$169.2M
$197.8M
Deferred certification and dry dock costs, net
$74.4M
$71.7M
$71.3M
$38.8M
Other assets, net
$51.4M
$48.2M
$44.8M
$50.5M
Total assets
$2.6B
$2.6B
$2.6B
$2.4B
Accounts payable
$134.3M
$144.8M
$134.6M
$135.3M
Accrued liabilities
$95.0M
$90.5M
$203.1M
$73.6M
Current maturities of long-term debt
$9.6M
$9.2M
$48.3M
$38.2M
Current operating lease liabilities
$60.8M
$60.0M
$62.7M
$50.9M
Total current liabilities
$299.7M
$304.4M
$448.6M
$298.0M
Long-term debt
$298.4M
$306.0M
$313.4M
$225.9M
Operating lease liabilities
$261.0M
$286.0M
$116.2M
$154.7M
Deferred tax liabilities
$105.6M
$114.0M
$110.6M
$98.9M
Other non-current liabilities
$71.4M
$67.0M
$66.2M
$95.2M
Total liabilities
$1.0B
$1.1B
$1.1B
$872.6M
Common stock, no par, 240,000 shares authorized, 147,186 and 150,243 shares issued, respectively
1.2B
1.3B
1.3B
1.3B
Retained earnings
$398.9M
$368.1M
$312.4M
$323.3M
Accumulated other comprehensive loss
($37.5M)
($100.6M)
($83.0M)
($105.3M)
Total shareholders' equity
$1.6B
$1.5B
$1.5B
$1.5B
Total liabilities and shareholders' equity
$2.6B
$2.6B
$2.6B
$2.4B
Helix Energy Solutions Group Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$652.2M
$501.3M
$338.0M
$319.7M
Accounts receivable, net of allowance for credit losses of $2,523 and $2,564, respectively
$204.9M
$230.1M
$359.6M
$327.9M
Other current assets
$82.4M
$87.9M
$100.6M
$112.7M
Total current assets
$939.5M
$819.3M
$798.2M
$760.4M
Property and equipment
$3.0B
$3.1B
$3.2B
$3.2B
Less accumulated depreciation
($1.8B)
($1.8B)
($1.8B)
($1.7B)
Property and equipment, net
$1.2B
$1.3B
$1.4B
$1.5B
Operating lease right-of-use assets
$287.1M
$302.9M
$297.0M
$314.3M
Deferred certification and dry dock costs, net
$56.1M
$73.5M
—
—
Other assets, net
$54.8M
$52.3M
$47.5M
$46.0M
Total assets
$2.6B
$2.6B
$2.6B
$2.7B
Accounts payable
$124.0M
$138.4M
$147.4M
$172.3M
Accrued liabilities
$72.8M
$69.1M
$99.2M
$104.8M
Current maturities of long-term debt
$9.5M
$9.4M
$9.6M
$9.4M
Current operating lease liabilities
$64.8M
$64.1M
$57.8M
$61.5M
Total current liabilities
$271.1M
$281.1M
$314.1M
$348.0M
Long-term debt
$294.8M
$294.4M
$297.8M
$302.2M
Operating lease liabilities
$241.3M
$257.9M
$257.2M
$270.1M
Deferred tax liabilities
$104.8M
$105.0M
$117.8M
$114.7M
Other non-current liabilities
$74.4M
$73.0M
$70.1M
$68.8M
Total liabilities
$986.4M
$1.0B
$1.1B
$1.1B
Common stock, no par, 240,000 shares authorized, 147,382 and 147,186 shares issued, respectively
1.2B
1.2B
1.2B
1.2B
Retained earnings
$408.2M
$385.5M
$390.6M
$368.6M
Accumulated other comprehensive loss
($46.9M)
($49.1M)
($37.4M)
($19.3M)
Total shareholders' equity
$1.6B
$1.6B
$1.6B
$1.6B
Total liabilities and shareholders' equity
$2.6B
$2.6B
$2.6B
$2.7B
Cash flow statement
Helix Energy Solutions Group 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 (loss)
$30.8M
$55.6M
($10.8M)
($87.8M)
Depreciation and amortization, excluding amortization of deferred certification and dry dock costs
$134.5M
$137.2M
—
—
Amortization of deferred certification and dry dock costs
$52.8M
$36.1M
—
—
Long-lived asset impairment
$18.1M
—
—
—
Deferred certification and dry dock costs
($52.0M)
($35.4M)
—
—
Amortization of debt discount
$240.0K
$218.0K
$17.0K
—
Amortization of debt issuance costs
$2.1M
$2.1M
$2.5M
$2.3M
Share-based compensation
$6.6M
$7.3M
$6.5M
$7.5M
Deferred income taxes
($8.1M)
$10.6M
$11.5M
$4.4M
Unrealized foreign currency losses
$374.0K
$623.0K
$8.3M
$21.6M
Accounts receivable, net
($37.5M)
$13.7M
($64.5M)
($29.9M)
Other current assets
$16.6M
$1.1M
($22.6M)
$7.6M
Income tax receivable, net of income tax payable
($9.5M)
$1.9M
($418.0K)
($49.0K)
Accounts payable and accrued liabilities
($18.4M)
($9.2M)
$32.0M
$9.8M
Other, net
$153.0K
$905.0K
$9.2M
($233.0K)
Net cash provided by operating activities
$136.7M
$186.0M
$152.5M
$51.1M
Capital expenditures
($16.3M)
($23.3M)
($19.6M)
($33.5M)
Net cash used in investing activities
($16.3M)
($22.8M)
($18.7M)
($138.3M)
Repayment of MARAD Debt
($9.2M)
($8.7M)
($8.3M)
($7.9M)
Repurchases of common stock
($30.2M)
($29.6M)
($12.0M)
—
Payments related to tax withholding for share-based compensation
($7.4M)
($4.2M)
($1.8M)
($1.9M)
Proceeds from issuance of ESPP shares
1.7M
1.9M
982.0K
575.0K
Net cash provided by (used in) financing activities
($45.1M)
($125.3M)
$25.1M
($44.8M)
Effect of exchange rate changes on cash and cash equivalents
$1.8M
($2.0M)
—
—
Net increase in cash and cash equivalents
$77.2M
$35.8M
$143.1M
($138.0M)
Balance, beginning of year
$368.0M
$332.2M
$189.1M
$327.1M
Balance, end of year
$445.2M
$368.0M
$332.2M
$189.1M
Helix Energy Solutions Group 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
$9.3M
—
$22.6M
$474.0K
Less: Loss from discontinued operations, net of tax
$709.0K
—
—
—
Income from continuing operations
$10.0M
—
—
—
Depreciation and amortization, excluding amortization of deferred certification and dry dock costs
$58.2M
$33.6M
—
—
Amortization of deferred certification and dry dock costs
$19.7M
$10.2M
—
—
Deferred certification and dry dock costs
($8.4M)
($8.9M)
—
—
Amortization of debt discount
$130.0K
$64.0K
$177.0K
$117.0K
Amortization of debt issuance costs
$1.1M
$535.0K
$1.5M
$1.0M
Share-based compensation
$2.8M
$1.4M
$4.9M
$3.3M
Deferred income taxes
$736.0K
($586.0K)
$3.8M
$931.0K
Unrealized foreign currency losses
($438.0K)
($552.0K)
($690.0K)
($1.3M)
Accounts receivable, net
$38.2M
$75.8M
($93.3M)
($62.4M)
Other current assets
($4.2M)
($1.0M)
($900.0K)
($143.0K)
Income tax receivable
($7.8M)
($11.1M)
—
—
Accounts payable and accrued liabilities
($4.7M)
($23.8M)
$2.6M
$26.6M
Other, net
($3.7M)
($531.0K)
$2.7M
$3.5M
Net cash provided by (used in) continuing operating activities
$101.5M
—
—
—
Net cash provided by discontinued operating activities
$14.2M
—
—
—
Net cash provided by (used in) operating activities
$115.7M
$61.8M
$23.6M
($691.0K)
Capital expenditures
($10.0M)
($2.8M)
($10.6M)
($9.0M)
Net cash used in continuing investing activities
($10.0M)
—
—
—
Net cash provided by (used in) discontinued investing activities
$104.2M
—
—
—
Net cash provided by (used in) investing activities
$94.2M
($2.8M)
($10.6M)
($9.0M)
Repayment of MARAD Debt
($4.8M)
($4.8M)
($9.2M)
($4.5M)
Repurchases of common stock and payments of related excise tax
($151.0K)
—
($30.2M)
($30.2M)
Payments related to tax withholding for share-based compensation
($70.0K)
($71.0K)
($7.3M)
($7.3M)
Proceeds from issuance of ESPP shares
960.0K
491.0K
1.7M
1.2M
Net cash used in continuing financing activities
($4.0M)
—
—
—
Net cash used in financing activities
($4.0M)
($4.3M)
($44.9M)
($40.8M)
Effect of exchange rate changes on cash and cash equivalents
$1.2M
$1.4M
$2.0M
$2.1M
Net increase (decrease) in cash and cash equivalents