Adjusted results near break-even with steady production and unchanged guidance suggest limited near-term catalyst. Watch Q2 2026 for the first full quarter including the Powder River Acquisition, which could boost production and earnings. The S-3 overhang from acquisition shares may pressure the stock modestly.
Price Chart
Executive Summary
Vitesse Energy reported Q1 2026 GAAP net loss of $42.3M driven by $48.2M non-cash unrealized derivative losses, but Adjusted Net Loss was only $0.3M. Revenue edged up 2% YoY to $67.4M and production rose 7% to 15,962 Boe/d, slightly above internal expectations. Guidance was unchanged and the quarterly dividend was maintained at $0.4375/share. The Powder River Acquisition closed in April for 1.9M shares, and the credit facility was expanded to $275M.
Key Financial Metrics
Key Facts
- GAAP net loss $42.3M vs net income $2.7M in Q1 2025, due to $48.2M unrealized derivative loss
- Adjusted Net Loss $0.3M (non-GAAP), essentially break-even
- Total revenue $67.4M (+2% YoY); production 15,962 Boe/d (+7% YoY, 63% oil)
- Adjusted EBITDA $33.4M; FCF $12.0M
- Dividend maintained at $0.4375/quarter
- 2026 guidance unchanged: 16,000-17,500 Boe/d, capex $50-80M
- Powder River Basin Acquisition closed in April for 1,935,698 shares
- Credit facility expanded to $275M; debt increased to $144.5M
- S-3 filed April 10 for resale of up to 1,935,698 shares by selling stockholders
- CEO transition to Jamie Benard effective Q1 2026
Financial Impact
Revenue slightly up but adjusted earnings near zero; large non-cash derivative loss dominates GAAP results
Risk Factors
- Continued commodity price volatility could cause further derivative losses
- Debt increased to $144.5M, raising leverage (Net Debt/Adjusted EBITDA 0.82x)
- Selling stockholders may sell shares from the S-3 registration, creating overhang
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001944558-26-000023 |
| Document: vitesse-20260504.htm | 0001944558-26-000023 |
| Document: 0001944558-26-000023-index-headers.html | 0001944558-26-000023 |
| Document: 0001944558-26-000023-index.html | 0001944558-26-000023 |
| Document: 0001944558-26-000023.txt | 0001944558-26-000023 |
| 8-K Data (Synthetic) | 0001944558-26-000023 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $16.96 | awaiting T+20 | — | $18.35 (+8.20%) |
Jun 17, 2026 18w ago | Insider Buy | $16.01 $15.66 | ▼ −2.19% | ▼ −2.72% | $18.35 (+14.62%) |
Jun 10, 2026 19w ago | 144 | $16.81 $15.42 | ▲ +8.27% | ▲ +10.16% | $18.35 (−9.16%) |
Jun 2, 2026 20w ago | 144 | $17.65 $15.48 | ▲ +12.29% | ▲ +11.29% | $18.35 (−3.97%) |
May 28, 2026 21w ago | 144 | $17.28 $15.90 | ▲ +7.99% | ▲ +6.19% | $18.35 (−6.19%) |
May 27, 2026 21w ago | 144 | $17.31 $15.79 | ▼ −8.78% | ▼ −5.64% | $18.35 (+6.01%) |
May 19, 2026 22w ago | 144 | $18.36 $16.01 | ▼ −12.80% | ▼ −13.54% | $18.35 (−0.05%) |
May 4, 2026 25w ago | 144 | $18.87 $18.24 | ▼ −3.34% | ▼ −8.29% | $18.35 (−2.76%) |
May 4, 2026 25w ago | 8-K | $18.87 $18.24 | ▼ −3.34% | ▼ −8.29% | $18.35 (−2.76%) |
Apr 30, 2026 25w ago | 144 | $18.77 $17.73 | ▲ +5.54% | ▲ +10.81% | $18.35 (+2.24%) |
US Market Status
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