PEDHIGH SIGNALFINANCIAL10-K

PEDEVCO executed a 20-for-1 reverse stock split while experiencing a dramatic deterioration in profitability, swinging from $17.8M net income to a $10.4M loss despite revenue growth.

The reverse stock split typically signals management's concern about the stock price falling below exchange listing requirements, which combined with the massive operational deterioration suggests significant financial distress. The removal of previous financial restatement language indicates those accounting issues have been resolved, but the current period's performance deterioration is far more concerning for ongoing viability.

Comparing 2026-03-31 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

While PEDEVCO grew revenue 15.7% and significantly expanded its asset base (total assets up 180.8%), the company's operational performance collapsed with operating income swinging from $4.7M profit to a $7.9M loss as SG&A expenses more than doubled. The dramatic increase in total liabilities (+1222%) and current liabilities (+833%) alongside declining cash reserves signals potential liquidity stress. Despite higher stockholders' equity, the combination of operational losses, massive liability growth, and the need for a reverse stock split indicates serious financial deterioration that overshadows any asset or revenue growth.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
+1222.1%
$12.7M→$168.5M

Liabilities grew 1222.1% — significant increase in debt or obligations, assess impact on financial flexibility.

Current Liabilities
Balance Sheet
+833.4%
$6.9M→$64.5M

Current liabilities surged 833.4% — significant near-term obligations; verify ability to meet short-term debt.

Operating Income
P&L
-266.5%
$4.7M→-$7.9M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Current Assets
Balance Sheet
+185.7%
$13.2M→$37.8M

Current assets grew 185.7% — improving short-term liquidity or inventory/receivables build.

Total Assets
Balance Sheet
+180.8%
$133.8M→$375.9M

Asset base grew 180.8% — expansion through organic growth, acquisitions, or capital deployment.

SG&A Expense
P&L
+162.7%
$6.4M→$16.8M

SG&A up 162.7% — significant increase in sales or administrative costs, monitor impact on operating leverage.

Net Income
P&L
-158.2%
$17.8M→-$10.4M

Net income declined 158.2% — review whether driven by operations, interest costs, or non-recurring items.

Stockholders Equity
Balance Sheet
+71.2%
$121.1M→$207.4M

Equity base grew 71.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Cash & Equivalents
Balance Sheet
-19.7%
$4.0M→$3.2M

Cash decreased 19.7% — monitor burn rate and upcoming capital needs.

Revenue
P&L
+15.7%
$39.6M→$45.8M

Revenue growing 15.7% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-31
ADDED
On March 13, 2026, the Company effected a 20-for-1 reverse stock split of its common stock.
The aggregate market value disclosed above reflects the closing price and shares outstanding as of June 30, 2025 and has not been adjusted to give retroactive effect to the reverse stock split.
As of March 27, 2026, 13,300,621 shares of the registrant s common stock, $0.001 par value per share, were outstanding.
Following effectiveness of the Stockholder Authority, the Company s Board approved an amendment to our Second Amended and Restated Certificate of Formation to effect a reverse stock split of our common stock at a ratio of 1-for-20, and to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined (the Reverse Stock Split ).
On March 10, 2026, we filed a Certificate of Amendment to our Second Amended and Restated Certificate of Formation (the Certificate of Amendment ) with the Secretary of State of the State of Texas to effect the Reverse Stock Split.
+7 more — sign up free →
REMOVED
As of March 28, 2025, 91,339,385 shares of the registrant s common stock, $0.001 par value per share, were outstanding.
Restatement of Previously Issued Consolidated Financial Statements As previously disclosed in the Current Report on Form 8-K filed by the PEDEVCO Corp (the Company ) with the Securities and Exchange Commission on March 25, 2025, in connection with the preparation of the Company s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, the Company concluded that in prior years it had not appropriately accounted for the depletion expense related to its oil and gas properties.
These errors led to an overstatement of depletion expense during the impacted periods.
On March 28, 2025, the Audit Committee (the Audit Committee ) of the Company s Board of Directors, after discussion with senior management and the Company s independent registered public accountants, concluded that the errors were material to the Company's Prior Financial Statements and the Prior Financial Statements as of and for the fiscal years ended December 31, 2023 and December 31, 2022, included in the Company s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, should no longer be relied upon due to the impact of the unintentional error noted above.
This Annual Report on Form 10-K includes restated Consolidated Financial Statements as of and for the years ended December 31, 2023 and 2022.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →