LandBridge Co LLC
For the period ended Sep 30, 2025. Filed Nov 12, 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 12, 2025
LB$65.24+0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Current assets: | ||
| Cash and cash equivalents | $28,316 | $37,032 |
| Accounts receivable, net | 19,669 | 12,544 |
| Related party accounts receivable | 4,564 | 2,111 |
| Prepaid expenses and other current assets | 4,821 | 1,628 |
| Total current assets | 57,370 | 53,315 |
| Non-current assets: | ||
| Property, plant and equipment, net | 917,975 | 902,742 |
| Intangible assets, net | 41,845 | 45,265 |
| Deferred tax assets | 59,116 | 29,416 |
| Other assets | 1,614 | 1,741 |
| Total non-current assets | 1,020,550 | 979,164 |
| Total assets | $1,077,920 | $1,032,479 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable | $637 | $489 |
| Taxes payable | 702 | 2,286 |
| Related party accounts payable | 902 | 686 |
| Accrued liabilities | 7,322 | 7,185 |
| Current portion of long-term debt | 924 | 424 |
| Deferred revenue | 2,238 | 1,221 |
| Other current liabilities | 1,094 | 2,119 |
| Total current liabilities | 13,819 | 14,410 |
| Non-current liabilities: | ||
| Long-term debt, net of debt issuance costs | 366,081 | 380,815 |
| Other long-term liabilities | 192 | 183 |
| Total non-current liabilities | 366,273 | 380,998 |
| Total liabilities | 380,092 | 395,408 |
| Class A shares, unlimited shares authorized and 25,337,028 shares issued and outstanding as of September 30, 2025. Unlimited shares authorized and 23,255,419 shares issued and outstanding as of December 31, 2024 | 254,007 | 208,427 |
| Class B shares, unlimited shares authorized and 51,093,505 shares issued and outstanding as of September 30, 2025. Unlimited shares authorized and 53,227,852 shares issued and outstanding as of December 31, 2024 | - | - |
| Retained earnings | 17,981 | 3,349 |
| Total shareholders’ equity attributable to LandBridge Company LLC | 271,988 | 211,776 |
| Noncontrolling interest | 425,840 | 425,295 |
| Total shareholders’ equity | 697,828 | 637,071 |
| Total liabilities and equity | $1,077,920 | $1,032,479 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.