SplitMay 14, 2026, 04:16 PM
PEDEVCO completes 1-for-20 reverse stock split; Q1 Net Loss $25.6M
AI Summary
PEDEVCO Corp. completed a 1-for-20 reverse stock split on March 13, 2026, converting every 20 shares into one and paying cash for fractional shares. For Q1 2026, the company reported a net loss of $25.6 million, a significant decrease from a net income of $0.14 million in Q1 2025, primarily due to a $31.3 million net loss on derivative contracts. Despite the loss, oil and gas sales revenue increased substantially to $40.2 million from $8.7 million year-over-year. The company also saw changes to its Board of Directors following the conversion of Series A Preferred Stock related to the October 2025 mergers.
Key Highlights
- PEDEVCO completed a 1-for-20 reverse stock split effective March 13, 2026.
- Q1 2026 net loss was $25.6 million, compared to net income of $0.14 million in Q1 2025.
- Q1 2026 oil and gas sales revenue increased to $40.2 million from $8.7 million in Q1 2025.
- Basic loss per common share was $3.28 in Q1 2026, down from $0.03 earnings per share in Q1 2025.
- Net loss on derivative contracts was $31.3 million in Q1 2026, contributing to the overall loss.
- Operating income increased to $6.7 million in Q1 2026 from $0.15 million in Q1 2025.
- Revolving credit facility balance increased to $98.0 million as of March 31, 2026.
- Edward Geiser appointed to Board; Josh Schmidt appointed Chairman, effective February 27, 2026.