Sable Offshore Corp.
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
SOC$0.75-14.7%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
| Three Months Ending March 31, | ||
|---|---|---|
| (dollars in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net loss | $(197,026) | $(109,544) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation, depletion, amortization and accretion | 3,942 | 3,021 |
| Share based compensation expense | 15,026 | 6,065 |
| Amortization of operating lease right-of-use asset | 369 | 406 |
| Amortization of debt issuance costs | 99 | 156 |
| Paid-in-kind interest | 34,569 | 20,854 |
| Deferred tax expense | — | 10,883 |
| Change in fair value of warrant liabilities | 44,157 | 21,295 |
| Changes in current assets and current liabilities, net of effect of acquisition: | ||
| Accounts receivable | (1,542) | — |
| Inventory | (3,186) | — |
| Materials and supplies | 252 | 257 |
| Prepaid expenses and other assets | 892 | (2,599) |
| Accounts payable and accrued liabilities | 20,224 | 1,271 |
| Net cash used in operating activities | (82,224) | (47,935) |
| Cash flows from investing activities: | ||
| Payments for capital expenditures | (21,050) | (63,304) |
| Net cash used in investing activities | (21,050) | (63,304) |
| Cash flows from financing activities: | ||
| Offering proceeds | 72,394 | — |
| Payment of equity issuance costs | (14,433) | (36) |
| Payment of debt issuance costs | (203) | — |
| Net cash provided by (used in) financing activities | 57,758 | (36) |
| Net change in cash | (45,516) | (111,275) |
| Cash, cash equivalents and restricted cash, beginning of the period | 97,684 | 335,772 |
| Cash, cash equivalents and restricted cash, end of the period | $52,168 | $224,497 |
| Reconciliation of cash, cash equivalents and restricted cash to the unaudited condensed consolidated balance sheets | ||
| Cash and cash equivalents | $52,168 | $188,987 |
| Restricted cash | — | 35,510 |
| Total cash, cash equivalents and restricted cash | $52,168 | $224,497 |
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