LandBridge Company LLC(LB) - 2024 Q4 - Annual Results

Revenue Growth - Q4 2024 revenue reached $36.5 million, a 109$110.0 million, reflecting a 51% year-over-year growth[9] - Total revenues for Q4 2024 reached $36,499 million, a significant increase of 109$17,457 million in Q4 2023[29] Net Income and Loss - The company reported a net income of $8.2 million in Q4 2024, resulting in a net income margin of 22$8,154 million, compared to $2,522 million in Q4 2023, reflecting a year-over-year increase of 223$41,479 million for the year ended December 31, 2024, compared to a net income of $63,172 million in 2023[32] - For the year ended December 31, 2024, the net loss was$41,479,000 compared to a net income of $63,172,000 for the year ended December 31, 2023[38] EBITDA Performance - Adjusted EBITDA for Q4 2024 was$31.7 million, up 108% year-over-year, with an Adjusted EBITDA margin of 87%[4][12] - Adjusted EBITDA for the year ended December 31, 2024, was $97,069,000, representing a margin of 88$62,804,000 and a margin of 86% for the previous year[38] - The company’s adjusted EBITDA for the three months ended December 31, 2024, was $31,739,000, compared to$25,012,000 for the three months ended December 31, 2023[38] Cash Flow and Liquidity - Cash flow from operations in Q4 2024 was $26.9 million, with Free Cash Flow of$26.7 million[15] - Total cash and cash equivalents increased to $37.0 million as of December 31, 2024, up from$14.4 million at the end of Q3 2024[17] - Cash flows from operating activities for the year ended December 31, 2024, were $67,636 million, an increase from$53,042 million in 2023[32] - Free Cash Flow for the year ended December 31, 2024, was $66,651,000, with a Free Cash Flow Margin of 61$50,259,000 and a margin of 69% for the previous year[44] - Net cash provided by operating activities for the year ended December 31, 2024, was $67,636,000, an increase from$53,042,000 in the previous year[44] Strategic Acquisitions and Investments - The company acquired approximately 53,000 acres through acquisitions, including the Wolf Bone Ranch, which guarantees $25 million in annual revenue for five years[9] - The company incurred$723,367 million in acquisitions during the year, indicating a strategic expansion effort[32] - The company incurred $724,352,000 in net cash used in investing activities for the year ended December 31, 2024, compared to$2,772,000 in the previous year[44] Operating Performance - Operating income for Q4 2024 was $18,019 million, up from$5,424 million in Q4 2023, indicating a growth of 232%[29] - Surface use economic efficiency improved from $724 per acre to$1,018 per acre, a nearly 41% increase year-over-year[9] Future Outlook - For FY 2025, the company re-affirms an Adjusted EBITDA outlook of $170 million to$190 million[19] Financial Position - Total assets as of December 31, 2024, amounted to $1,003,474 million, a substantial rise from$288,949 million in 2023[31] - The company reported a total current liabilities of $14,410 million as of December 31, 2024, down from$27,100 million in 2023[31] - The company raised $278,263 million from the issuance of Class A shares during the IPO, contributing to its capital structure[32] Interest and Other Expenses - Interest expense for the year ended December 31, 2024, was$23,335,000, significantly higher than $7,016,000 for the previous year[38] - The company reported an EBITDA of$(7,394,000) for the year ended December 31, 2024, compared to $79,320,000 for the previous year[38]