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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q4 FY142014-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.51B | $4.53B | $3.10B | $2.52B | $2.81B | $3.21B | $2.24B | $1.99M |
| Cost of revenue | $802.00M | $2.00B | $1.60B | $1.44B | $714.00M | $1.63B | $1.37B | $978.00K |
| Gross profit | $1.71B | $2.53B | $1.50B | $1.08B | $2.10B | $1.58B | $876.00M | $1.01M |
| Gross margin | 68.1% | 55.9% | 48.4% | 42.9% | 74.6% | 49.3% | 39.0% | 50.8% |
| Research and development | $0 | $0 | $0 | — | $0 | $0 | $0 | $361.00K |
| Selling, general and administrative | $699.00M | $63.00M | $49.00M | $45.00M | $831.00M | $47.00M | $53.00M | $2.46M |
| Operating expenses | $1.46B | $870.00M | $909.00M | $842.00M | $1.70B | $835.00M | $742.00M | $2.82M |
| Operating income | $249.00M | $1.66B | $594.00M | $238.00M | $391.00M | $746.00M | $134.00M | −$1.81M |
| Operating margin | 9.9% | 36.7% | 19.1% | 9.5% | 13.9% | 23.2% | 6.0% | -90.8% |
| EBITDA | $964.00M | $2.35B | $1.36B | $813.00M | $1.21B | $1.41B | $724.00M | −$1.62M |
| Interest income | $0 | $0 | $0 | — | $0 | $0 | $0 | $28.00K |
| Interest expense | −$43.00M | −$59.00M | −$59.00M | −$57.00M | −$60.00M | −$59.00M | −$64.00M | −$3.00K |
| Income before taxes | $672.00M | $1.49B | $687.00M | $686.00M | $1.23B | −$319.00M | −$421.00M | −$1.73M |
| Income taxes | $150.00M | $330.00M | $134.00M | $139.00M | $260.00M | −$70.00M | −$22.00M | $21.00K |
| Net income | $522.00M | $1.16B | $553.00M | $547.00M | $968.00M | −$249.00M | −$399.00M | −$1.75M |
| Net margin | 20.8% | 25.6% | 17.8% | 21.7% | 34.5% | -7.8% | -17.8% | -87.9% |
| EPS, basic | $2.19 | $4.83 | $2.32 | $2.30 | $4.07 | −$1.06 | −$1.72 | −$0.15 |
| EPS, diluted | $2.19 | $4.81 | $2.24 | $2.28 | $4.02 | −$1.06 | −$1.80 | −$0.15 |
| Diluted shares | 238.36M | 240.76M | 246.59M | 239.89M | 240.56M | 234.43M | 221.24M | 11.16M |
Figures describe Expand Energy shares, not any token. As of Jul 28, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.