NYSE$LB

LandBridge Company LLC · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

LB reported Q3 2025 revenue of $89.0M, a net loss of $12.0M.

For Q3 2025, LB reported Revenue was $89.0M, net loss was $12.0M. The filing discusses operating performance, liquidity, and outlook in MD&A.

  • Revenue $89.0M for Q3 2025.
  • Net loss $12.0M.
  • MD&A covers R&D, cash runway, and sector-specific risks.

Headline financials

Total Revenue

$50.8M

Previous: $28.5M+78.4%
EPS (adj)

$0.10

Previous: -$0.04+350.0%
Net Income Margin

40.0%

Previous: -10.0%+500.0%
Adjusted EBITDA

$44.9M

Previous: $25M+79.3%
Adjusted EBITDA Margin

88.0%

Previous: 88.0%+0.0%
Operating Cash Flow Margin

69.0%

Previous: 26.0%+165.4%
Free Cash Flow Margin

66.0%

Previous: 25.0%+164.0%
Net Income

$8.11M

Previous: -$2.8M+389.5%
Operating Income

$30.9M

Previous: $3.19M+869.1%

Revenue & EPS history

LandBridge Company LLC · Revenue · Quarterly

$50.8M

Q3 2025+78.4%vs Q3 2024
Beat estimate in 3 of 6 quarters(50%)
ActualEstimate

Revenue by segment

LandBridge Company LLC · $19M total across 8 segments · Q1 2024

  • Easements & Surface Revenue
    $4.75M
  • Oil and Gas Royalties
    $4.19M
  • Resource Sales
    $3.42M
  • Surface Use Royalties - RP
    $2.61M
  • Resource Royalties
    $1.98M
  • Surface Use Royalties
    $1.6M
  • Easements & Surface - RP
    $383K
  • Resource Sales - RP
    $93K

Forward guidance

Outlook focuses on cash runway, pipeline milestones, and cost discipline as the company works toward profitability.

Tailwinds

  • Cash and equivalents support operations into upcoming milestones.
  • Clinical or product pipeline progress noted in MD&A.

Headwinds

  • Ongoing operating losses and R&D spend pressure near-term earnings.
  • Financing, dilution, or partnership timing may affect liquidity.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+1.3%

Avg return

Earnings day

+1.7%

Avg return

5 days after

-2.8%

Avg return

30 days after

43%

3 / 7 earnings

Positive

+22.7%

Q3 2024

Best reaction

-11.3%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%+1.1%+5.8%
Q4 2025+13.8%+12.0%+10.0%
Q3 2025-10.5%-23.9%-32.3%
Q1 2025-11.3%+1.2%-5.9%
Q4 2024-6.1%+4.2%-8.9%
Q3 2024+22.7%+13.8%+4.2%
Q2 2024+1.0%+3.2%+7.7%
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022

Discussion

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