LandBridge Corp
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
LB$65.10+5.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income | $15,459 | $10,776 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion, amortization and accretion | 2,601 | 2,145 |
| Amortization of debt issuance costs | 539 | 194 |
| Share-based compensation | 11,140 | 810 |
| Deferred income tax expense | 339 | - |
| Other | 8 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (7,384) | 3,931 |
| Related party accounts receivable | (5,178) | (310) |
| Prepaid expenses and other assets | 154 | 323 |
| Accounts payable | 66 | 407 |
| Related party accounts payable | 383 | (20) |
| Unearned revenue | (389) | (47) |
| Accrued liabilities and other liabilities | (1,604) | (1,095) |
| Taxes payable | (221) | 101 |
| Net cash provided by operating activities | 15,913 | 17,215 |
| Cash flows from investing activities | ||
| Acquisitions | (17,818) | (55,072) |
| Capital expenditures | (69) | (89) |
| Proceeds from disposal of assets | 20 | - |
| Net cash used in investing activities | (17,867) | (55,161) |
| Cash flows from financing activities | ||
| Dividends, dividend equivalents, and distributions paid | (13,558) | - |
| Repayments on term loan | (5,750) | (5,000) |
| Proceeds from revolver | 10,000 | 15,000 |
| Repayments on revolver | (10,000) | - |
| Offering costs | (648) | (870) |
| Other | (187) | (115) |
| Net cash (used in) provided by financing activities | (20,143) | 9,015 |
| Net decrease in cash and cash equivalents | (22,097) | (28,931) |
| Cash and cash equivalents - beginning of period | 37,032 | 37,823 |
| Cash and cash equivalents - end of period | $14,935 | $8,892 |
Notes to the Unaudited Condensed Consolidated Financial Statements
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