Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 126

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 126
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 in isolation, or as substitutes for analysis of the Company’s results as reported under GAAP. The Company’s presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. We compensate for these limitations by providing a reconciliation of each of these non-GAAP measures to the most comparable GAAP measure. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measure. The following table presents a reconciliation of the GAAP financial measure of net income to the non-GAAP financial measure of Adjusted EBITDA (in thousands):

  Three Months Ended   Nine Months Ended    September 30,  September 30,   2025  2024  2025  2024 Net (loss) income $(325) $2,915  $(1,861) $6,369 Add (deduct)                Interest expense  102   -   102   - Income tax benefit  (164)  -   (578)  - Depreciation, depletion, amortization and accretion  4,010   3,055   11,213   10,782 EBITDA  3,623   5,970   8,876   17,151 Add (deduct)                Share-based compensation  537   464   1,486   1,401 Impairment of oil and gas properties  165   -   907   - Gain on sale of oil and gas properties  -   (735)  (1,021)  (735)Gain on sale of fixed asset  -   -   -   (12)Note receivable – credit loss  -   -   1,378   - Adjusted EBITDA $4,325  $5,699  $11,626  $17,805 

Critical Accounting Estimates

Our discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these consolidated