HALLADOR ENERGY CO
For the period ended Sep 30, 2025. Filed Nov 10, 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.
Sep 30, 2025 · Filed Nov 10, 2025
HNRG$10.16-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| | Nine Months Ended September 30, | |||||
| | 2025 | 2024 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | |
| Net income (loss) | | $42,111 | | $(10,346) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | | | |
| Deferred income tax (benefit) | | — | | (3,389) | ||
| Equity method investment loss | | 287 | | 740 | ||
| Depreciation, depletion and amortization | | 29,661 | | 42,930 | ||
| Loss on extinguishment of debt | | — | | 2,790 | ||
| Gain on disposal or abandonment of assets, net | | (2,410) | | (536) | ||
| Amortization of debt issuance costs | | 1,600 | | 1,251 | ||
| Asset retirement obligations accretion | | 1,310 | | 1,208 | ||
| Cash paid on asset retirement obligation reclamation | | (455) | | (820) | ||
| Stock-based compensation | | 2,144 | | 3,320 | ||
| Amortization of contract liabilities | | (82,639) | | (59,236) | ||
| Accretion on contract liabilities | | | 5,659 | | | — |
| Other | | | 274 | | | 1,352 |
| Change in current assets and liabilities: | | | | | ||
| Accounts receivable | | (9,325) | | 8,029 | ||
| Inventory | | 8,679 | | (8,002) | ||
| Parts and supplies | | (4,898) | | (786) | ||
| Prepaid expenses | | 1,190 | | (1,098) | ||
| Accounts payable and accrued liabilities | | 1,923 | | (7,715) | ||
| Contract liabilities | | 77,867 | | 57,293 | ||
| Net cash provided by operating activities | | | 72,978 | | | 26,985 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | ||||
| Capital expenditures | | | (44,277) | | | (39,606) |
| Proceeds from sale of equipment | | 2,891 | | 3,373 | ||
| Investment in equity method investments | | | (394) | | | — |
| Net cash used in investing activities | | (41,780) | | (36,233) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | |||
| Payments on bank debt | | (63,000) | | (86,500) | ||
| Borrowings of bank debt | | 63,000 | | 65,000 | ||
| Payments on lease financing | | | (5,187) | | | (4,105) |
| Proceeds from sale and leaseback arrangement | | — | | 3,783 | ||
| Issuance of related party notes payable | | — | | 5,000 | ||
| Payments on related party notes payable | | — | | (5,000) | ||
| Debt issuance costs | | (330) | | (654) | ||
| ATM offering | | — | | 34,515 | ||
| Taxes paid on vesting of RSUs | | (2,352) | | (273) | ||
| Net cash (used in) provided by financing activities | | (7,869) | | 11,766 | ||
| Increase in cash, cash equivalents, and restricted cash | | 23,329 | | 2,518 | ||
| Cash, cash equivalents, and restricted cash, beginning of period | | 12,153 | | 7,123 | ||
| Cash, cash equivalents, and restricted cash, end of period | | $35,482 | | $9,641 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: | | | | |||
| Cash and cash equivalents | | $12,663 | | $3,829 | ||
| Restricted cash | | 22,819 | | 5,812 | ||
| | | $35,482 | | $9,641 | ||
| SUPPLEMENTAL CASH FLOW INFORMATION: | | | | |||
| Cash paid for interest | | $4,718 | | $8,679 | ||
| SUPPLEMENTAL NON-CASH FLOW INFORMATION: | | | | | ||
| Change in capital expenditures included in accounts payable and prepaid expense | | $(5,855) | | $(7,825) | ||
| Stock issued on redemption of convertible notes and interest | | $— | | $22,993 | ||
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