EPSN

MKT CAP:$139M

Epsilon Energy Ltd.

Market Cap

$139M

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Exploration & Production·🇺🇸·NASDAQ

Stock Price

$6.06+$1.46 (+31.74%)

Apr 24, 2026

Company Details

Epsilon Energy Ltd., a natural gas and oil company, engages in the acquisition, development, gathering, and production of oil and gas reserves in the United States. It operates through Upstream and Gathering System segments. The Company has...

CEO

Jason Stabell

IPO Date

Nov 15, 2007

Website

www.epsilonenergyltd.com

Key Metrics TTM

Revenue

$52M

+63.7% YoY

Net Income

-$5M

EPS (Diluted)

-$0.21

Free Cash Flow

$5M

Revenue / Share

$2.30

Gross Margin

47.6%

Operating Margin

26.7%

Net Margin

-9.4%

FCF Margin

10.1%

P/S

2.7x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 27, 2026

$52M+63.7%EPS -$0.21

Q4 2025

Mar 27, 2026

$15M+65.7%EPS -$0.51

Q3 2025

Nov 5, 2025

$9M+23.2%EPS $0.05

Q2 2025

Aug 13, 2025

$12M+59.1%EPS $0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$14M	$10M	$9M
Q2 22	$20M	$15M	$14M
Q3 22	$21M	$17M	$14M
Q4 22	$15M	$12M	$10M
Q1 23	$9M	$6M	$3M
Q2 23	$7M	$3M	-$353.3K
Q3 23	$6M	$3M	$746.8K
Q4 23	$9M	$3M	$2M
Q1 24	$8M	$3M	$1M
Q2 24	$7M	$3M	$1M
Q3 24	$7M	$2M	$240.6K
Q4 24	$9M	$4M	$611.3K
Q1 25	$16M	$9M	$7M
Q2 25	$12M	$5M	$828.8K
Q3 25	$9M	$3M	$1M
Q4 25	$15M	$6M	$4M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	9.9x
Q2 22	2.4x	5.5x
Q3 22	2.2x	4.4x
Q4 22	2.1x	4.2x
Q1 23	1.9x	3.7x
Q2 23	2.3x	5.2x
Q3 23	3.1x	8.4x
Q4 23	3.5x	15.6x
Q1 24	4.1x	24.5x
Q2 24	3.9x	22.2x
Q3 24	4.1x	24.4x
Q4 24	4.3x	69.5x
Q1 25	3.9x	35.0x
Q2 25	3.7x	31.4x
Q3 25	2.4x	18.8x
Q4 25	2.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$8M	$5M
Q2 22	$8M	$6M
Q3 22	$14M	$13M
Q4 22	$8M	$6M
Q1 23	$8M	$7M
Q2 23	$3M	-$10M
Q3 23	$4M	$2M
Q4 23	$4M	$1M
Q1 24	$4M	-$17M
Q2 24	$5M	-$4M
Q3 24	$3M	$260.8K
Q4 24	$5M	$691.0K
Q1 25	$9M	$942.8K
Q2 25	$8M	$5M
Q3 25	$4M	$4M
Q4 25	-$554.6K	-$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$3M
Q2 22	$2M
Q3 22	$715.8K
Q4 22	$2M
Q1 23	$782.3K
Q2 23	$13M
Q3 23	$2M
Q4 23	$3M
Q1 24	$20M
Q2 24	$9M
Q3 24	$3M
Q4 24	$4M
Q1 25	$8M
Q2 25	$4M
Q3 25	$40.9K
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+61.1%	-7.5%
Q2 22	+180.7%	+2.3%
Q3 22	+62.2%	+14.2%
Q4 22	+10.5%	+12.0%
Q1 23	-31.2%	+30.1%
Q2 23	-67.3%	+13.5%
Q3 23	-70.3%	-18.8%
Q4 23	-43.7%	+25.5%
Q1 24	-14.6%	+9.1%
Q2 24	+12.4%	-10.4%
Q3 24	+15.5%	+26.7%
Q4 24	+4.4%	+21.4%
Q1 25	+102.4%	+36.7%
Q2 25	+59.1%	+75.8%
Q3 25	+23.2%	+7.4%
Q4 25	+65.7%	+25.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$142.3K	1.0%
Q2 22	$194.1K	1.0%
Q3 22	$500.6K	2.4%
Q4 22	$0	0.0%
Q1 23	$179.7K	1.9%
Q2 23	$179.7K	2.8%
Q3 23	$439.7K	7.0%
Q4 23	$219.1K	2.6%
Q1 24	$321.6K	4.0%
Q2 24	$0	0.0%
Q3 24	$309.1K	4.2%
Q4 24	$0	0.0%
Q1 25	$385.8K	2.4%
Q2 25	$385.8K	3.3%
Q3 25	$376.6K	4.2%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 22	$1M	—
Q2 22	$2M	—
Q3 22	$3M	—
Q4 22	$2M	—
Q1 23	$2M	—
Q2 23	$2M	—
Q3 23	$2M	—
Q4 23	$1M	—
Q1 24	$2M	—
Q2 24	$2M	—
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$2M	—
Q2 25	$2M	—
Q3 25	—	$2M
Q4 25	—	$2M

Revenue Segments

Quarter	Gas gathering and compression revenue	Natural gas	Natural gas liquids	Oil and condensate	Gas Gathering And Compression	Natural Gas	Oil and Condensate
Q1 22	$2M	$11M	$314.4K	$461.8K	—	—	—
Q2 22	$2M	$16M	$688.4K	$1M	—	—	—
Q3 22	$2M	$18M	$497.8K	$779.5K	—	—	—
Q4 22	$2M	$12M	$232.5K	$711.0K	—	—	—
Q1 23	$2M	$6M	$196.3K	$517.1K	—	—	—
Q2 23	$2M	$3M	$245.0K	$1M	—	—	—
Q3 23	$3M	$2M	$228.0K	$924.8K	—	—	—
Q1 24	—	—	$373.0K	$3M	$2M	$3M	—
Q2 24	—	—	$388.4K	$4M	$1M	$2M	—
Q3 24	—	—	—	—	$1M	$2M	$4M
Q1 25	—	—	—	—	$2M	$11M	$3M
Q2 25	—	—	—	—	$2M	$7M	$3M
Q3 25	—	—	—	—	$1M	$5M	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$30M	$0	$30M
Q2 22	$31M	$0	$31M
Q3 22	$40M	$0	$40M
Q4 22	$45M	$0	$45M
Q1 23	$19M	$30M	$49M
Q2 23	$9M	$27M	$36M
Q3 23	$12M	$19M	$31M
Q4 23	$13M	$19M	$32M
Q1 24	$2M	$12M	$15M
Q2 24	$9M	$0	$9M
Q3 24	$8M	$0	$8M
Q4 24	$7M	$0	$7M
Q1 25	$7M	$0	$7M
Q2 25	$10M	$0	$10M
Q3 25	$13M	$0	$13M
Q4 25	$9M	$0	$9M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	24M	+0.2%	-0.7%
Q2 22	24M	-0.2%	+0.2%
Q3 22	23M	-2.7%	-2.5%
Q4 22	23M	+1.0%	-1.7%
Q1 23	23M	-1.6%	-3.5%
Q2 23	23M	-1.1%	-4.4%
Q3 23	22M	-2.7%	-4.3%
Q4 23	22M	-0.1%	-5.4%
Q1 24	22M	-0.7%	-4.5%
Q2 24	22M	+0.2%	-3.3%
Q3 24	22M	+0.6%	-0.1%
Q4 24	22M	-0.7%	-0.6%
Q1 25	22M	+0.5%	+0.5%
Q2 25	22M	+0.4%	+0.8%
Q3 25	22M	-0.2%	+0.0%
Q4 25	22M	+1.2%	+1.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$2M	9
Q2 22	$2M	9
Q3 22	$2M	9
Q4 22	$2M	9
Q1 23	$1M	9
Q2 23	$722.2K	9
Q3 23	$701.2K	9
Q4 23	$856.3K	10
Q1 24	$798.7K	10
Q2 24	$730.8K	10
Q3 24	$728.8K	10
Q4 24	$894.0K	10
Q1 25	$2M	10
Q2 25	$1M	10
Q3 25	$898.1K	10
Q4 25	$548.8K	27

Revenue / Employee