NORTHERN OIL & GAS, INC.NOGEarnings & Financial Report
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
Revenue
$602.1M
Gross Profit
$488.1M
Operating Profit
$229.3M
Net Profit
$139.0M
Gross Margin
81.1%
Operating Margin
38.1%
Net Margin
23.1%
YoY Growth
51.9%
EPS
$1.39
NORTHERN OIL & GAS, INC. Q1 FY2025 Financial Summary
NORTHERN OIL & GAS, INC. reported revenue of $602.1M (up 51.9% YoY) for Q1 FY2025, with a net profit of $139.0M (up 1097.5% YoY) (23.1% margin). Cost of goods sold was $114.0M, operating expenses totaled $258.8M.
Key Financial Metrics
| Total Revenue | $602.1M |
|---|---|
| Net Profit | $139.0M |
| Gross Margin | 81.1% |
| Operating Margin | 38.1% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
NORTHERN OIL & GAS, INC. Q1 FY2025 revenue of $602.1M breaks down across 3 segments, led by Oil Reserves at $459.7M (76.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Oil Reserves | $459.7M | 76.3% |
| Natural Gasand NGL | $117.3M | 19.5% |
| Other | $21.8M | 3.6% |
NORTHERN OIL & GAS, INC. Revenue by Segment — Quarterly Trend
NORTHERN OIL & GAS, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Oil Reserves and Natural Gasand NGL) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Oil Reserves | — | $364.6M | $400.5M | $402.7M |
| Natural Gasand NGL | — | $83.1M | $81.7M | $171.7M |
| Other | — | $159.3M | $70.8M | $128.8M |
NORTHERN OIL & GAS, INC. Annual Revenue by Year
NORTHERN OIL & GAS, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $2.5B |
| 2024 | $2.2B |
| 2023 | $2.2B |
| 2022 | $2.0B |
NORTHERN OIL & GAS, INC. Quarterly Revenue & Net Profit History
NORTHERN OIL & GAS, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $610.2M | -72.6% | $-70.7M | -11.6% |
| Q4 FY2025 | $610.2M | +18.5% | $-70.7M | -11.6% |
| Q3 FY2025 | $556.6M | -26.1% | $-129.1M | -23.2% |
| Q2 FY2025 | $706.8M | +26.0% | $99.6M | 14.1% |
| Q1 FY2025 | $602.1M | +51.9% | $139.0M | 23.1% |
| Q4 FY2024 | $515.0M | -35.1% | $71.7M | 13.9% |
| Q3 FY2024 | $753.6M | +140.0% | $298.4M | 39.6% |
| Q2 FY2024 | $560.8M | +17.7% | $138.6M | 24.7% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $560.8M | $753.6M | $515.0M | $602.1M | $706.8M | $556.6M | $610.2M | $610.2M |
| YoY Growth | 17.7% | 140.0% | -35.1% | 51.9% | 26.0% | -26.1% | 18.5% | -72.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $4.72B | $5.06B | $5.60B | $5.67B | $5.70B | $5.49B | $5.41B | $5.41B |
| Liabilities | $2.66B | $2.74B | $3.28B | $3.27B | $3.29B | $3.25B | $3.28B | $3.28B |
| Equity | $2.07B | $2.31B | $2.32B | $2.40B | $2.41B | $2.24B | $2.13B | $2.13B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $340.5M | $385.8M | $290.3M | $407.4M | $362.1M | $423.1M | $312.6M | $312.6M |