Entered 2025 With Approximately $160 Million Projected Annualized Revenue Run-Rate
DALLAS, TX / ACCESS Newswire / April 16, 2025 / Vivakor, Inc. (Nasdaq:VIVK) ("Vivakor" or the "Company"), an integrated provider of energy transportation, storage, reuse, and remediation service, today announced financial and operational results for the twelve months ended December 31, 2024.
Key Financial Highlights for the Three Months Ended December 31, 2024 (yoy):
Revenue increased 201% to $41.7 million;
Gross profit increased 746% to $5.7 million;
Gross margin of 20.01%;
Adjusted EBITDA increased to $5.3 million; and
Acquired transportation logistics business segment adds $18.8 million to revenue, $5 million in gross profit, and realized a 27% gross profit margin.
Key Financial Highlights for the Year Ended December 31, 2024:
Revenue increased 51% to $89.8 million;
Gross profit increased 104% to $10.2 million;
Gross margin of 11.4%;
Adjusted EBITDA increased to $5.6 million;
Acquired transportation logistics business segment adds $18.8 million to revenue, $5 million in gross profit, and realized a 27% gross profit margin, and EBITDA of $1.4 million;
Terminaling and storage business segment revenues increased $11.8 million or 19.84%, gross profit increased 5.4%, and EBITDA of $3.4 million. Total assets increased $170.7 million, which is primarily attributed to the close of our business combination acquisition on October 1, 2024, and includes $87.7 million in property plant and equipment, primarily made up of our newly acquired truck fleet, our forty-five (45) mile integrated crude oil gathering and pipeline in Blaine County, Oklahoma (our Omega Gathering Pipeline), and 15 crude oil pipeline injection truck stations; and
Stockholders' equity increased $98.7 million.
Key Business Highlights:
Own and operate a combined fleet of commercial tractors and trailers for the hauling of crude oil and produced water, predominantly located in the Permian and Eagle Ford Basins;
Own and operate the Omega Gathering Pipeline, a crude oil pipeline and exclusive connected blended and processing facility in Blaine County, Oklahoma;
Own and operate 15 crude oil pipeline injection truck stations, the majority of which are centered in the Permian Basin; and
Own and operate two operational major crude oil terminaling facilities, located in Colorado City, Texas, and Delhi, Louisiana
Management Commentary
Vivakor Chairman and Chief Executive Officer James Ballengee commented, "This past year we completed the second phase of our transformation of Vivakor, fortifying our evolution as a diversified infrastructure company, with midstream assets in logistics, gathering and storage, as well as sustainable assets in environmental services, remediation and processing solutions. We are pleased with our 2024 financial results, with the fourth quarter of 2024 representing our first consolidated quarter, putting us on the path for approximately $160 million projected annualized revenue."
Ballengee concluded, "Our midstream crude oil logistics, storage and gathering operations are a solid platform from which to build upon. Contracted revenue is at its highest level in company history and provides us a predictable financial model. Based on this contracted revenue and track record of strategic growth, Vivakor believes 2025 could shape up to be another record year. By maintaining a strong focus on financial responsibility and operational efficiency, we aim to maximize shareholder value, while advancing our growth mission to expand organically and through acquisitions in 2025 and thereafter."
About Vivakor, Inc.
Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor's integrated facilities assets provide crude oil and produced water gathering, storage, transportation, reuse, and remediation services under long-term contracts.
Once operational, Vivakor's oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.
For more information, please visit our website: http://vivakor.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, , the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.
These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
Investors Contact:
P:949-281-2606
info@vivakor.com
ClearThink
nyc@clearthink.capital
SOURCE: Vivakor
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