BKV Corp. (NYSE:BKV) reported a definitive return to profitability for the fourth quarter and full fiscal year 2025 on Wednesday, marking a successful first full year as a publicly traded company.
The Denver-based producer posted fourth-quarter net income of $70.4 million, or $0.75 per diluted share, a sharp recovery from the $57.5 million loss reported during the same period in 2024.
Total revenue for the fourth quarter surged 175% year-over-year to $330.1 million, bolstered by the integration of the Bedrock acquisition and unrealized hedging gains.
On an adjusted basis, which excludes non-recurring items and derivative fluctuations, the company earned $0.29 per share on revenue of $259.9 million.
The quarterly performance was anchored by record production volume.
BKV reached an average net production of 939.7 million cubic feet equivalent per day (MMcfe/d) in the fourth quarter, surpassing its own guidance range of 885–935 MMcfe/d.
Management attributed the beat to drilling efficiencies in the Barnett Shale and lower-than-expected winter downtime across its Texas and Pennsylvania assets.
For the full year 2025, BKV reported total revenue and other operating income of $1billion, swinging to a net profit of $173.1 million, or $1.98 per share.
This compares to a net loss of $142.9 million in 2024.