Barnwell Industries Inc (BRN) Q1 2025 Earnings Report

Barnwell Industries reported a weak QQ1 2025 with revenue of $4.48 million and a net loss of $1.92 million, driven by a thin gross margin and ongoing fixed-cost burdens. Gross profit was $0.333 million on $4.48 million of revenue, producing a margin of 7.44%, while operating income deteriorated to a loss of $1.91 million and EBITDA stood at a negative $0.98 million. The company generated negative operating cash flow of $0.76 million and incurred capex of $2.53 million, resulting in a free cash flow shortfall of roughly $3.29 million for the period. Cash at period-end stood at $1.96 million against total assets of $26.01 million and total liabilities of $14.71 million, leaving a lean liquidity runway and a net debt position of negative $1.84 million (due to cash holdings).