Dallas, Texas--(Newsfile Corp. - April 7, 2026) - Pedevco Corp. (NYSE: PED): Stonegate Capital Partners Initiates Coverage on Pedevco Corp. (NYSE: PED). PEDEVCO exited FY25 as a much larger, oil-weighted Rockies platform following the Juniper merger. For FY25, production increased 35% y/y to 910.1 Mboe (2,494 Boe/d), revenue rose 16% to $45.8M, and adjusted EBITDA increased 18% to $27.0M despite a 19% decline in realized crude oil prices. Reported earnings moved to a net loss of $(10.4)M (vs. net income of $12.3M in FY24), driven by merger costs, accelerated share-based compensation, new interest expense, a note write-off, and tax expense. In 4Q25, the first quarter reflecting the combined platform, production increased 143% y/y to 483.2 Mboe (5,310 Boe/d), revenue more than doubled to $23.1M, and adjusted EBITDA nearly tripled to $15.4M. Management emphasized that the quarter included only two months of acquired contribution, making normalized earnings power the better lens, while the merger-close bridge to 6,500+ Boe/d and roughly over 310,000 net acres helps frame the larger earnings base now embedded in the portfolio.

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Key Takeaways:

• 4Q25 only included two months of acquired assets, yet production rose 143% y/y and adj. EBITDA nearly tripled.
• PED now has 32.1 MMBoe of proved reserves, $357.7M PV-10, and 1,000+ locations beyond proved reserves.
• $10M-$13M of optimization work could reduce LOE by up to $1M/month, supporting meaningful margin upside.

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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Source: Stonegate, Inc.

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