NYSE: TBN
Tamboran Resources CorpCIK 0001997652 · SIC 1311 · Crude Petroleum & Natural Gas
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Tamboran Resources delivers first Beetaloo Basin gas sales and reports ~US$240M pro forma cash
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Full-year net loss of $26.1M against a loss of $36.9M a year earlier; Tamboran completes Falcon acquisition, starts gas sales, but material weakness and going-concern doubt persist
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Tamboran acquires 98% of Falcon Australia for 6.5M shares plus $23.7M cash
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Tamboran Resources reports Q1 2026 earnings via presentation and press release
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revenue $0, net income -$9.4M. Tamboran advances drilling program, and announces Falcon acquisition
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Tamboran raises A$24.8M through retail entitlement offer to existing shareholders
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Tamboran closes final tranche of registered direct offering, issues 96,698 shares
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Latest financial statements
From 10-K filed Sep 25, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Description | Years ended June 30, 2026 | Years ended June 30, 2025 |
|---|---|---|
| Revenue and other operating income | — | — |
| Operating costs and expenses | ||
| Compensation and benefits, including stock-based compensation | (12,539) | (9,397) |
| Consultancy, legal and professional fees | (6,230) | (6,531) |
| Depreciation and amortization | (7) | (86) |
| Loss on remeasurement of assets classified as held for sale | — | (376) |
| Accretion of asset retirement obligations | (1,243) | (1,042) |
| Exploration expense | (3,336) | (4,112) |
| Camp expense recoveries, net | (2,527) | — |
| LNG feasibility study expense | (123) | (6,035) |
| Checkerboard fee | — | (5,950) |
| General and administrative | (6,665) | (5,787) |
| Total operating costs and expenses | (32,670) | (39,316) |
| Loss from operations | (32,670) | (39,316) |
| Other income (expense) | ||
| Interest income (expense), net | 2,659 | 1,551 |
| Foreign exchange gain (loss), net | (486) | (2,585) |
| Other income (expense), net | — | 726 |
| Total other income (expense) | 2,173 | (308) |
| Net loss | (30,496) | (39,624) |
| Less: Net loss attributable to noncontrolling interest | (4,422) | (2,722) |
| Less: Net loss attributable to redeemable noncontrolling interest | (1) | — |
| Net loss attributable to Tamboran Resources Corporation stockholders | (26,073) | (36,902) |
| Comprehensive income (loss) | ||
| Net loss | (30,496) | (39,624) |
| Other comprehensive income (loss) | ||
| Foreign currency translation | 11,890 | 2,768 |
| Total comprehensive income (loss) | (18,606) | (36,856) |
| Less: Total comprehensive income (loss) attributable to noncontrolling interest | (1,141) | (3,254) |
| Less: Total comprehensive income (loss) attributable to redeemable noncontrolling interest | (68) | — |
| Total comprehensive loss attributable to Tamboran Resources Corporation stockholders | (17,397) | (33,602) |
| Net loss per common stock | ||
| Basic and diluted | (1.161) | (2.517) |
| Weighted-average number of common stock outstanding | ||
| Basic and diluted | 22,463,972 | 14,661,192 |
Consolidated Balance Sheets
(In thousands, except share and per share amounts)
| Description | June 30, 2026 | June 30, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 219,135 | 39,439 |
| Restricted cash | 11,960 | 5,722 |
| Trade and other receivables: | ||
| Joint interest billings | 1,472 | 8,191 |
| ATO receivable | 3,735 | 1,219 |
| Other receivables | 430 | 222 |
| Prepaid expenses and other current assets | 6,461 | 1,903 |
| Total current assets | 243,193 | 56,696 |
| Natural gas properties, successful efforts method: | ||
| Unproved properties | 807,036 | 342,314 |
| Assets under construction natural gas equipment | 72,287 | 24,441 |
| Property, plant and equipment, net | 744 | 308 |
| Operating lease right-of-use assets | 2,705 | 1,549 |
| Finance lease right-of-use asset | 14,345 | 16,544 |
| Prepaid expenses and other non-current assets | 13,672 | 4,610 |
| Total non-current assets | 910,789 | 389,766 |
| TOTAL ASSETS | 1,153,982 | 446,462 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued expenses | 73,742 | 20,457 |
| Advance against joint interest billings | — | 450 |
| Current portion of operating lease obligations | 1,897 | 391 |
| Current portion of finance lease obligation | 14,410 | 15,307 |
| Other current liabilities | 3,008 | — |
| Total current liabilities | 93,057 | 36,605 |
| Operating lease obligations | 1,018 | 1,175 |
| Finance lease obligation | 8,354 | 9,523 |
| Asset retirement obligations | 22,138 | 9,649 |
| Long-term debt, net | 59,043 | — |
| Other non-current liabilities | 811 | 57 |
| Total non-current liabilities | 91,364 | 20,404 |
| Total liabilities | 184,421 | 57,009 |
| Commitments and contingencies (Note 15) | ||
| Redeemable noncontrolling interest | 1,863 | — |
| Stockholders’ equity | ||
| Common stock, $0.001 par value; 10,000,000,000 common stock authorized; 34,872,663 and 16,717,289 common stock issued and outstanding as of June 30, 2026 and 2025, respectively | 35 | 17 |
| Additional paid-in capital | 990,356 | 464,407 |
| Accumulated other comprehensive loss | (812) | (9,421) |
| Accumulated deficit | (193,355) | (167,281) |
| Total Tamboran Resources Corporation stockholders’ equity | 796,224 | 287,722 |
| Noncontrolling interest | 171,474 | 101,730 |
| Total stockholders’ equity | 967,698 | 389,452 |
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY | 1,153,982 | 446,462 |
Consolidated Statements of Cash Flows
(In thousands)
| Description | Years ended June 30, 2026 | Years ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (30,496) | (39,624) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 7 | 86 |
| Stock-based compensation | 4,404 | 4,355 |
| Foreign exchange (gain) loss, net | 486 | 2,585 |
| Performance bonds Facility Fee | 2,205 | — |
| Loss on remeasurement of assets classified as held for sale | — | 376 |
| Accretion of asset retirement obligations | 1,243 | 1,042 |
| Checkerboard fee | — | 5,950 |
| Accrued interest income | (271) | — |
| Interest expense | 334 | 381 |
| Changes in operating assets and liabilities: | ||
| Trade and other receivables | 2,859 | (1,275) |
| Prepaid expenses and other assets | (7,845) | (180) |
| Accounts payable and accrued expenses | (8,263) | (3,300) |
| Other non-current liabilities | 740 | (32) |
| Net cash used in operating activities | (34,597) | (29,636) |
| Cash flows from investing activities: | ||
| Payments for property, plant and equipment | (415) | (290) |
| Payments for exploration and evaluation | (112,029) | (94,201) |
| Payments for assets under construction | (37,289) | (15,637) |
| Payment of interest on finance lease liabilities | (3,406) | (2,799) |
| Payment of interest on borrowings | (4,960) | — |
| Payment for Falcon Acquisition, including transaction costs, net of cash acquired | (12,146) | — |
| Payments in relation to assignment of notes receivable | (17,435) | — |
| Proceeds from sale of assets held for sale | — | 7,990 |
| Proceeds from government grants for exploration | 120 | 6,169 |
| Net cash used in investing activities | (187,560) | (98,768) |
| Cash flows from financing activities: | ||
| Proceeds from issue of common stock | 308,498 | 46,092 |
| Contributions received from noncontrolling interest holders | 74,517 | 61,457 |
| Advance contributions received from noncontrolling interest holders | — | 450 |
| Proceeds from issue of common stock, awaiting issuance | — | 5,722 |
| Common stock issue transaction costs | (17,517) | (3,194) |
| Proceeds from borrowings | 58,883 | — |
| Payment of debt issuance costs | (3,619) | — |
| Payment of transaction costs on common stock, awaiting issuance | — | (401) |
| Advance payment of common stock issue transaction costs | — | (768) |
| Payment of performance bond facility establishment fee | (271) | (536) |
| Repayment of lease liabilities | (8,225) | (7,766) |
| Net cash from financing activities | 412,266 | 101,056 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 190,108 | (27,348) |
| Cash and cash equivalents and restricted cash at the beginning of period | 45,161 | 74,746 |
| Effects of exchange rate changes on cash and cash equivalents | (4,174) | (2,237) |
| Cash and cash equivalents and restricted cash at the end of period | 231,095 | 45,161 |
| Supplemental cash flow information: | ||
| Non-cash investing and financing activities: | ||
| Accrued capital expenditure | 41,205 | 7,959 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share and per share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗