Montauk Renewables, Inc.
For the period ended Mar 31, 2026. Filed May 6, 2026.
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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, 2026 · Filed May 6, 2026
MNTK$1.19-57.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited consolidated statements of cash flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands):
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $5 | $(464) |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 8,373 | 6,264 |
| Benefit for deferred income taxes | (380) | (333) |
| Loss on extinguishment of debt | 944 | — |
| Stock-based compensation | 635 | 1,274 |
| Derivative mark-to-market adjustments and settlements | 220 | 214 |
| Net (gain) loss on sale or disposal of assets | (13) | 15 |
| Decrease in earn-out liability | — | (425) |
| Accretion of asset retirement obligations | 127 | 118 |
| Amortization of debt issuance costs | 142 | 97 |
| Impairment loss | 443 | 2,047 |
| Non-cash expense - RINs from equity method investment | 3,370 | — |
| Income from equity method investment | (3,320) | — |
| Cash provided (used) by changes in assets and labilities: | ||
| Accounts receivable | 3,941 | (319) |
| Royalty offset long term receivable | (2,132) | (739) |
| Income tax receivable | 80 | (215) |
| Critical spare inventory | (131) | (303) |
| Accounts payable and Accrued liabilities | 3,916 | 2,213 |
| Other | (374) | (304) |
| Net cash provided by operating activities | $15,846 | $9,140 |
| Cash flows from investing activities: | ||
| Capital expenditures | $(30,867) | $(11,632) |
| Proceeds from sale of assets | 33 | — |
| Net cash used in investing activities | $(30,834) | $(11,632) |
| Cash flows from financing activities: | ||
| Repayments of long-term debt | $(44,000) | $(3,000) |
| Borrowings of long-term debt | 155,000 | — |
| Repayments of revolver | (105,000) | — |
| Borrowings of revolver | 20,000 | — |
| Debt extinguishment costs | (944) | — |
| Debt issuance costs | (5,560) | — |
| Finance lease payments | (18) | (18) |
| Net cash provided (used) in financing activities | $19,478 | $(3,018) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $4,490 | $(5,510) |
| Cash and cash equivalents and restricted cash at beginning of period | $24,190 | $46,004 |
| Cash and cash equivalents and restricted cash at end of period | $28,680 | $40,494 |
| Reconciliation of cash, cash equivalents, and restricted cash at end of period: | ||
| Cash and cash equivalents | $25,947 | $40,111 |
| Restricted cash and cash equivalents - current | 8 | 8 |
| Restricted cash and cash equivalents - non-current | 2,725 | 375 |
| $28,680 | $40,494 | |
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental cash flow information: | ||
| Cash paid for interest, net of $1,579 and $0 capitalized respectively | $1,853 | $1,055 |
| Cash paid for income taxes | 2 | 319 |
| Accrual for purchase of property, plant and equipment included in accounts payable and accrued liabilities | 19,562 | 8,534 |
| Non-cash RIN distribution from equity method investment | 3,370 | — |
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