Excelerate Energy, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 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 6, 2025
EE$37.54+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Balance Sheets
Consolidated Balance Sheets
As of September 30, 2025 and December 31, 2024
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS · (In thousands) | ||
| Current assets | ||
| Cash and cash equivalents | $462,618 | $537,522 |
| Current portion of restricted cash | 4,215 | 2,612 |
| Accounts receivable, net | 119,379 | 119,960 |
| Current portion of net investments in sales-type leases | 43,588 | 43,471 |
| Other current assets | 64,878 | 50,714 |
| Total current assets | 694,678 | 754,279 |
| Restricted cash | 14,955 | 14,361 |
| Property and equipment, net | 2,129,640 | 1,622,896 |
| Intangible assets, net | 363,052 | — |
| Goodwill | 244,993 | — |
| Operating lease right-of-use assets | 172,834 | 4,563 |
| Net investments in sales-type leases | 344,532 | 376,814 |
| Investments in equity method investee | 20,222 | 19,295 |
| Deferred tax assets, net | 27,382 | 27,559 |
| Other assets | 84,691 | 63,448 |
| Total assets | $4,096,979 | $2,883,215 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Accounts payable | $51,131 | $7,135 |
| Accrued liabilities and other liabilities | 125,909 | 70,022 |
| Current portion of deferred revenues | 33,182 | 58,185 |
| Current portion of long-term debt | 23,230 | 46,793 |
| Current portion of long-term debt – related party | 9,473 | 8,943 |
| Current portion of operating lease liabilities | 23,528 | 1,551 |
| Current portion of finance lease liabilities | 24,590 | 23,475 |
| Total current liabilities | 291,043 | 216,104 |
| Long-term debt, net | 918,819 | 286,760 |
| Long-term debt, net – related party | 154,160 | 161,952 |
| Operating lease liabilities | 144,499 | 3,447 |
| Finance lease liabilities | 150,578 | 167,908 |
| TRA liability | 58,955 | 58,736 |
| Asset retirement obligations | 61,977 | 43,690 |
| Long-term deferred revenues | 27,339 | 27,722 |
| Other long-term liabilities | 94,165 | 28,395 |
| Total liabilities | $1,901,535 | $994,714 |
| Commitments and contingencies (Note 20) | ||
| Class A Common Stock ($0.001 par value, 300,000,000 shares authorized, 34,679,873 shares issued as of September 30, 2025 and 26,432,131 shares issued as of December 31, 2024) | 35 | 26 |
| Class B Common Stock ($0.001 par value, 150,000,000 shares authorized and 82,021,389 shares issued and outstanding as of September 30, 2025 and December 31, 2024) | 82 | 82 |
| Additional paid-in capital | 634,189 | 467,429 |
| Retained earnings | 96,183 | 72,322 |
| Accumulated other comprehensive income (loss) | (23) | 502 |
| Treasury stock (2,678,160 shares as of September 30, 2025 and 2,564,058 shares as of December 31, 2024) | (54,780) | (52,375) |
| Non-controlling interests | 1,519,758 | 1,400,515 |
| Total equity | 2,195,444 | 1,888,501 |
| Total liabilities and equity | $4,096,979 | $2,883,215 |
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