For the quarter ending 2026-03-31, LB had -$1,062K decrease in cash & cash equivalents over the period. $40,940K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 17,868 | 18,174 | 20,291 | 33,934 |
| Depreciation, depletion and amortization | 4,425 | 3,740 | 2,584 | 5,146 |
| Amortization of debt issuance costs | 548 | 570 | 540 | 1,079 |
| Share-based compensation | 11,264 | 11,683 | 11,225 | 22,411 |
| Loss on extinguishment of debt | - | -4,416 | - | - |
| Deferred income tax expense | 316 | 1,819 | 1,274 | 991 |
| Other | 45 | -11 | 1 | -6 |
| Accounts receivable | -895 | -296 | 1,788 | 5,342 |
| Related party accounts receivable | 2,797 | 382 | 1,861 | 591 |
| Prepaid expenses and other assets | -758 | -5,207 | 2,128 | 1,778 |
| Accounts payable | -220 | -49 | 107 | -42 |
| Related party accounts payable | 191 | -121 | 120 | 96 |
| Unearned revenue | - | - | 1,179 | -162 |
| Accrued liabilities and other liabilities | 6,691 | -1,051 | 107 | -672 |
| Taxes payable | 1,226 | -5,180 | 3,263 | -1,831 |
| Net cash provided by operating activities | 41,120 | 38,116 | 34,912 | 53,245 |
| Acquisitions | 1,995 | 210,281 | 5 | 18,762 |
| Capital expenditures | 180 | 1,740 | 1,187 | 1,309 |
| Proceeds from disposal of assets | 27 | 0 | 85 | 125 |
| Net cash used in investing activities | -2,148 | -212,021 | -1,107 | -19,946 |
| Proceeds from term loan | - | - | 0 | 0 |
| Repayments on term loan | - | - | 0 | 5,750 |
| Proceeds from revolver | - | - | 5,000 | 10,000 |
| Repayments on revolver | - | - | 10,000 | 15,000 |
| Proceeds from issuance of class a shares - ipo, net of underwriting discounts and fees | - | 0 | - | - |
| Proceeds from issuance of class a shares, net of underwriting discounts and fees | - | - | 0 | - |
| Debt issuance costs | - | 13,211 | 15 | 40 |
| Proceeds from issuance of class a shares - december 2024 private placement, net of placement agent fees | - | 0 | - | - |
| Taxes paid related to net share settlement of rsus | - | 22 | 5,728 | - |
| Purchase of opco units from landbridge holdings, net of placement agent fees | - | 0 | - | - |
| Proceeds from debt | 0 | 783,549 | - | - |
| Contributions from member | - | 0 | 0 | 0 |
| Repayments of debt | 25,240 | 599,198 | - | - |
| Dividends, dividend equivalents, and distributions paid | 14,728 | 10,940 | 14,850 | 37,923 |
| Offering costs | 0 | 2 | 133 | 977 |
| Other | 338 | - | -108 | -296 |
| Net cash used in financing activities | -40,034 | 176,330 | -25,834 | -49,986 |
| Net decrease in cash and cash equivalents | -1,062 | 2,425 | 7,971 | -16,687 |
| Cash and cash equivalents - beginning of period | 30,741 | 28,316 | 37,032 | - |
| Cash and cash equivalents - end of period | 29,679 | 30,741 | 28,316 | - |
LandBridge Co LLC (LB)
LandBridge Co LLC (LB)