PEDEVCO Reports Second Quarter 2026 Results

HOUSTON, Aug. 13, 2026 (GLOBE NEWSWIRE) -- PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO” or the “Company”), a publicly traded energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region, today reported unaudited financial results for the second quarter ended June 30, 2026.

($000s except as noted) Q2 2026 Q2 2025 Q1 2026 Change Change YoY QoQ Average Daily Production (Boe/d) 6,801 1,517 8,091 +348% (16)% Revenue $46,113 $6,972 $40,222 +561% +15% Net Income (Loss) $17,454 $(1,676) $(25,627) NM ((2)) NM ((2)) Adjusted EBITDA ((1)) $18,669 $3,032 $18,138 +516% +3% ((1) Adjusted EBITDA is a non-GAAP financial measure. See “Use of Non-GAAP Financial Information” and the reconciliation table at the end of this release. Note that the Company’s prior earnings release for the quarter ended March 31, 2026 excluded realized losses on derivative contracts from its calculation of Adjusted EBITDA. Commencing with the quarter ended June 30, 2026, the Company includes such realized losses in its calculation of Adjusted EBITDA, and the first quarter 2026 amount presented above has been recast on that same basis for comparative purposes. Adjusted EBITDA for the quarter ended March 31, 2026 was $21.5 million as previously reported and is $18.1 million as recast.) ((2) “NM” means “Not Meaningful.” ) * Second quarter 2026 production increased 348% to 618,912 Boe (average 6,801 Boe/d), compared to 138,028 Boe (1,517 Boe/d) in the second quarter of 2025, reflecting the contribution from the asset base acquired in the Q4 2025 merger along with production added from the 2025 development plan. * Oil and gas revenue increased 561% to $46.1 million, compared to $7.0 million in the prior year period, driven by significantly higher production volumes and a higher average realized oil price. * Second quarter 2026 net income of $17.5 million or $1.31 per common share, compared to a net loss of $1.7 million or $(0.37) per share in the second quarter of 2025, reflecting higher operating income from the expanded asset base and $5.0 million of net income on derivative contracts. * Adjusted EBITDA increased 516% to $18.7 million, compared to $3.0 million in the second quarter of 2025, reflecting higher production volumes from the expanded asset base and a higher average realized oil price. * Development program commenced with recent completion of a previously-drilled well in the DJ Basin. Further development of the Company’s extensive drilling inventory is expected to generate significant future production and cash flow growth, while maintaining focus on low leverage and balance sheet strength. Management Commentary