Sable Offshore (SOC) Q4 FY2025 earnings: revenue $0
Sable Offshore Corp. (SOC) reported revenue of $0 for Q4 FY2025, the quarter ended 31 December 2025. Net income was -$62 million. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.
Revenue$0
Net income-$62 million
Diluted EPSn/a
QuarterQ4 FY2025ended 31 December 2025
The quarter, against the one before and a year earlier
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Revenue | 0.0 | 0.0 | 0.0 | n/a |
| Operating income | -100 | -119 | -50.8 | n/a |
| Interest expense | 25.2 | 21.0 | 19.2 | +31.5% |
| Pre-tax income | -75.8 | -104 | -35.7 | n/a |
| Income tax | -13.7 | 6.6 | -19.5 | n/a |
| Net income | -62.2 | -110 | -16.2 | n/a |
| Diluted EPS | n/a | -$1.11 | n/a | n/a |
$ million except per share.
Read more
Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow and capital returned
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Operating cash flow | -98.1 | -111 | -37.5 | n/a |
| Capital expenditure | 94.5 | 130 | 53.7 | +75.9% |
| Free cash flow | -193 | -241 | -91.2 | n/a |
| Cash from investing | -94.5 | -130 | -53.5 | n/a |
| Cash from financing | 249 | -0.4 | 103 | +140.8% |
| Depreciation and amortisation | 3.4 | 3.3 | 2.9 | +19.4% |
| Share-based compensation | 12.7 | 13.5 | 5.6 | +127.1% |
| Diluted shares, weighted | 98m | 99m | n/a | n/a |
| Shares outstanding at period end | 145m | 100m | 89m | +62.3% |
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet at quarter end
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Shareholders' equity | 534 | 348 | 384 | +39.1% |
| Short-term borrowings | n/a | n/a | 0.0 | n/a |
| Debt | 922 | 897 | 834 | +10.6% |
| Operating lease liabilities | 19.3 | n/a | 17.0 | +13.9% |
| Other liabilities | 266 | 405 | 348 | -23.8% |
| Total liabilities and equity | 1,741 | 1,650 | 1,583 | +10.0% |
| Cash and equivalents | 97.7 | 41.6 | 300 | -67.5% |
| Receivables | 0.0 | n/a | n/a | n/a |
| Inventory | 12.1 | n/a | 0.0 | n/a |
| Other assets | 1,631 | 1,608 | 1,283 | +27.1% |
| Total assets | 1,741 | 1,650 | 1,583 | +10.0% |
Questions
What was Sable Offshore's revenue in Q4 FY2025?
Sable Offshore (SOC) reported revenue of $0 for Q4 FY2025, the quarter ended 31 December 2025.
How much did Sable Offshore earn in Q4 FY2025?
Net loss for Q4 FY2025 was $62 million.
When did Sable Offshore report Q4 FY2025 results?
Sable Offshore filed its 10-K for the year that ended with the quarter on 27 February 2026; the fourth quarter is the year less the first three.
Quarterly results, the last 12 quarters
| Q2 FY2023 | Q3 FY2023 | Q1 FY2024 ‡ | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 * | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 * | Q1 FY2026 | Q2 FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.3 | 137 |
| Operating income | -22.3 | -22.5 | -171 | -62.2 | -54.6 | -50.8 | -59.8 | -129 | -119 | -100 | -119 | -66.9 |
| Operating margin | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | -9343% | -49% |
| Interest expense | 0.0 | 0.0 | 9.8 | 19.2 | 19.2 | 19.2 | 21.0 | 21.0 | 21.0 | 25.2 | 34.7 | 43.1 |
| Pre-tax income | -22.3 | -23.1 | -178 | -160 | -255 | -35.7 | -98.7 | -120 | -104 | -75.8 | -197 | -37.2 |
| Net income | -22.3 | -23.1 | -192 | -165 | -256 | -16.2 | -110 | -128 | -110 | -62.2 | -197 | -64.2 |
| Net margin | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | -15502% | -47% |
| Diluted EPS | n/a | n/a | n/a | -$2.75 | -$4.11 | n/a | -$1.30 | -$1.40 | -$1.11 | n/a | -$1.37 | -$0.42 |
| Operating cash flow | n/a | -17.4 | -58.6 | -57.7 | -31.6 | -37.5 | -47.9 | -95.0 | -111 | -98.1 | -82.2 | 9.4 |
| Capital expenditure | n/a | 0.0 | 0.0 | 4.1 | 14.4 | 53.7 | 63.3 | 130 | 130 | 94.5 | 21.1 | 31.5 |
| Free cash flow | n/a | -17.4 | -58.6 | -61.9 | -46.1 | -91.2 | -111 | -225 | -241 | -193 | -103 | -22.1 |
| Shares outstanding | 65m | 89m | 60m | 65m | 79m | 89m | 89m | 99m | 100m | 145m | 150m | 155m |
| Filing | 10-Q | 10-Q | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q |
Each quarter as filed, linked to its filing.
Read more
* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. ‡ Filed in two parts, up to 13 February 2024 and after it, on the old and the new accounting basis; shown added together, with per-share figures left blank. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.10-K for the period ended 31 December 2025, filed 27 February 2026: the filing.