LandBridge Company Reports 83% Revenue Growth to $47.5 Million in Q2 2025

LandBridge Company LLC reported significant financial growth in its latest quarterly results, with total revenues reaching $47.5 million for the second quarter of 2025, an increase of 83% compared to $25.9 million in the same period last year. The company also achieved a net income of $18.5 million, marking a 132% rise from a net loss of $57.7 million in the second quarter of 2024. This turnaround is attributed to increased surface use royalties and resource sales, which were bolstered by higher volumes and prices for brackish water and produced water handling.

In the first half of 2025, LandBridge's total revenues surged to $91.5 million, up 103% from $45.0 million in the first half of 2024. The company reported a net income of $33.9 million for the six months ended June 30, 2025, compared to a net loss of $46.9 million in the prior year. The substantial revenue growth was driven by a 205% increase in surface use royalties and a 129% rise in resource royalties, reflecting the company's strategic focus on expanding its operations in the Delaware Basin.

Operationally, LandBridge has made significant strides, acquiring approximately 57,000 surface acres since its initial public offering in July 2024. The company now owns around 277,000 surface acres in the Delaware Basin, a key area for oil and natural gas exploration. The increase in customer engagement is evident, with brackish water sales volume rising by 28% to 23.6 million barrels in the first half of 2025. The company also reported a working capital surplus of $33.8 million as of June 30, 2025, down from $38.9 million at the end of 2024, indicating a strong liquidity position.

LandBridge's financial performance has been positively impacted by its strategic decisions, including the acquisition of surface acreage and the establishment of surface use agreements that generate recurring revenue. The company has also streamlined its general and administrative expenses, which decreased by 61% year-over-year, primarily due to a reduction in share-based compensation expenses. The company’s adjusted EBITDA for the second quarter was $42.5 million, reflecting an 81% increase from the previous year, with an adjusted EBITDA margin of 89%.

Looking ahead, LandBridge remains optimistic about its growth trajectory, driven by ongoing demand for energy and infrastructure development in the Permian Basin. The company plans to continue leveraging its extensive land holdings to support energy production and infrastructure projects, while also exploring opportunities in alternative energy sectors. The management anticipates that the favorable market conditions and strategic initiatives will sustain revenue growth and enhance shareholder value in the coming quarters.