PEDEVCO reports FY2024 net income $17.8M ($0.20/shr) vs $1.7M; production up 29%

PEDEVCO CORP

2025-Q1 EPS reported $0.00 vs consensus $0.30 ▼ miss (-100.0%)

Production averaged 1,835 BOEPD (73% oil), up 29% from 2023; revenue $39.6M (+28%).
Adjusted EBITDA rose 31% to $22.9M; net income of $17.8M includes $12.8M tax benefit from NOLs.
Zero debt as of Dec 31, 2024; cash $6.6M; $20M available under $250M Citibank RBL.
2025 capex guidance $27-33M, with 70-75% allocated to D-J Basin development under new JDA.
Completed 24 non-operated D-J Basin wells in 2024; Permian wells expected online Q2 2025.

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