HALLADOR ENERGY CO
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
HNRG$10.16-4.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
For the years ended December 31,
| | | | | | | |
|---|---|---|---|---|---|---|
| · · 2025 · · 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: · · · · | ||||||
| Net income (loss) | | $41,871 | | $(226,138) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | | ||
| Deferred income tax (benefit) | | 1,833 | | (9,235) | ||
| Equity method investment loss | | 450 | | 746 | ||
| Depreciation, depletion and amortization | | 41,222 | | 65,626 | ||
| Asset impairment | | | — | | | 215,136 |
| Loss on extinguishment of debt | | 608 | | 2,790 | ||
| (Gain) loss on disposal or abandonment of assets, net | | (2,489) | | (50) | ||
| Amortization of debt issuance costs | | 1,993 | | 1,747 | ||
| Asset retirement obligations accretion | | 1,764 | | 1,628 | ||
| Cash paid on asset retirement obligation reclamation | | (727) | | (1,407) | ||
| Stock-based compensation | | 3,529 | | 4,454 | ||
| Accretion on contract liabilities | | | 8,408 | | | 1,170 |
| Amortization of contract liabilities | | (99,683) | | (70,203) | ||
| Director fees paid in stock | | | 192 | | | 150 |
| Change in current assets and liabilities: | | | | | ||
| Accounts receivable | | 1,449 | | 4,499 | ||
| Inventory | | (5,849) | | (13,610) | ||
| Parts and supplies | | (6,750) | | (227) | ||
| Prepaid expenses | | 1,910 | | 784 | ||
| Accounts payable and accrued liabilities | | (2,154) | | (14,580) | ||
| Contract liabilities | | 93,613 | | 102,011 | ||
| Other | | (56) | | 643 | ||
| Net cash provided by operating activities | | $81,134 | | $65,934 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | ||
| Capital expenditures | | $(69,215) | | $(53,367) | ||
| Proceeds from sale of equipment | | 3,158 | | 4,239 | ||
| Proceeds from held-for-sale assets | | | — | | | 3,200 |
| Investment in equity method investments | | | (490) | | | (542) |
| Net cash used in investing activities | | $(66,547) | | $(46,470) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | ||
| Payments on bank debt | | $(106,000) | | $(147,000) | ||
| Borrowings of bank debt | | 92,000 | | 99,500 | ||
| Payments on lease financing | | | (6,994) | | | (5,633) |
| Proceeds from sale and leaseback arrangement | | — | | 5,134 | ||
| Issuance of related party notes payable | | — | | 5,000 | ||
| Payments on related party notes payable | | — | | (5,000) | ||
| Debt issuance costs | | (330) | | (673) | ||
| ATM offering | | 13,510 | | 34,515 | ||
| Taxes paid on vesting of RSUs | | (3,554) | | (277) | ||
| Net cash used in financing activities | | $(11,368) | | $(14,434) | ||
| Increase in cash, cash equivalents, and restricted cash | | 3,219 | | 5,030 | ||
| Cash, cash equivalents, and restricted cash, beginning of year | | 12,153 | | 7,123 | ||
| Cash, cash equivalents, and restricted cash, end of year | | $15,372 | | $12,153 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: | | | | | ||
| Cash and cash equivalents | | $10,070 | | $7,232 | ||
| Restricted cash | | 5,302 | | 4,921 | ||
| | | $15,372 | | $12,153 | ||
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | | | | | ||
| Cash paid for interest | | $6,705 | | $10,511 | ||
| Non-cash change in capital expenditures related to accounts payable and prepaid expenses | | $7,232 | | $356 | ||
| Stock issued on redemption of convertible notes and interest | | $— | | $22,993 | ||
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