Revenue growth remains in a sustained contraction, with a 48% year-over-year decline in 2026Q1 and volatile gross margins that fluctuated between 20.4% and 94.1% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|
| Sales/Revenue | 228.78M | 263.36M | 294.68M | 307.6M | 458.46M | 342.92M | 202.14M | 275.57M | 205.08M | 225.09M | 794.18M | 324.19M | 654.99M | 513.79M | 258.83M | 214.28M | 89.32M | 30.24M |
| Revenue Growth % | -21.23% | -10.63% | -4.2% | -32.91% | 33.69% | 69.64% | -26.65% | 34.37% | -8.89% | -71.66% | 144.98% | -50.51% | 27.48% | 98.5% | 20.79% | 139.9% | 195.36% | - |
| Cost of Goods Sold | 126.61M | 191.6M | 18.43M | 188.4M | 184.74M | 170.27M | 181.53M | 198.24M | 116.47M | 143.63M | 170.2M | 295.66M | 362.94M | 329.26M | 156.06M | 14.52M | 11.11M | 8.07M |
| COGS % of Revenue | - | 72.75% | 6.25% | 61.25% | 40.29% | 49.65% | 89.8% | 71.94% | 56.79% | 63.81% | 21.43% | 91.2% | 55.41% | 64.09% | 60.29% | 6.78% | 12.44% | 26.7% |
| Gross Profit | 102.17M | 71.76M | 276.25M | 119.2M | 273.72M | 172.64M | 20.62M | 77.34M | 88.61M | 81.47M | 623.99M | 28.52M | 292.06M | 184.53M | 102.77M | 199.75M | 78.21M | 22.17M |
| Gross Margin % | 44.66% | 27.25% | 93.75% | 38.75% | 59.7% | 50.35% | 10.2% | 28.06% | 43.21% | 36.19% | 78.57% | 8.8% | 44.59% | 35.91% | 39.71% | 93.22% | 87.56% | 73.3% |
| Gross Profit Growth % | - | -74.02% | 131.76% | -56.45% | 58.55% | 737.34% | -73.34% | -12.72% | 8.77% | -86.94% | 2087.66% | -90.23% | 58.27% | 79.55% | -48.55% | 155.42% | 252.82% | - |
| Operating Expenses | 125.64M | 76.79M | 245.83M | 42.98M | 201.73M | 198.25M | 462.51M | 89.31M | 37.07M | 39.32M | 48.73M | 36.09M | 79.81M | 82.54M | 56.19M | 176.18M | 67.58M | 23.64M |
| OpEx % of Revenue | - | 29.16% | 83.42% | 13.97% | 44% | 57.81% | 228.8% | 32.41% | 18.07% | 17.47% | 6.14% | 11.13% | 12.19% | 16.06% | 21.71% | 82.22% | 75.66% | 78.17% |
| Selling, General & Admin | 50.15M | 52.06M | 35.9M | 32.98M | 30.16M | 25.29M | 27.79M | 55.29M | 24.54M | 29.35M | 48.73M | 38.7M | 48.73M | 53.25M | 30.54M | 69.25M | 17.02M | 6.01M |
| SG&A % of Revenue | - | 19.77% | 12.18% | 10.72% | 6.58% | 7.37% | 13.75% | 20.06% | 11.97% | 13.04% | 6.14% | 11.94% | 7.44% | 10.36% | 11.8% | 32.32% | 19.06% | 19.86% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 24.73M | 209.94M | 10M | 171.57M | 172.97M | 434.72M | 34.02M | 12.53M | 9.97M | 0 | -2.61M | 31.08M | 29.29M | 25.64M | 106.93M | 50.56M | 17.63M |
| Operating Income | -23.48M | -5.03M | 30.42M | 76.22M | 71.99M | -25.61M | -441.89M | -11.97M | 54.25M | -79.49M | 260.83M | -1.64B | 260.83M | -407.41M | 20.54M | 18.73M | -15.64M | -11.76M |
| Operating Margin % | -10.26% | -1.91% | 10.32% | 24.78% | 15.7% | -7.47% | -218.6% | -4.34% | 26.45% | -35.32% | 32.84% | -507.06% | 39.82% | -79.29% | 7.94% | 8.74% | -17.51% | -38.88% |
| Operating Income Growth % | - | -116.53% | -60.09% | 5.87% | 381.11% | 94.2% | -3591.33% | -122.07% | 168.25% | -130.48% | 115.87% | -730.21% | 164.02% | -2083.2% | 9.69% | 219.71% | -33.05% | - |
| EBITDA | 9.64M | 27.45M | 63.01M | 112.17M | 95.94M | 2.46M | -401.62M | 43.87M | 117.1M | -12.56M | 337.73M | -1.45B | 530.77M | -157.01M | 146.1M | 110.43M | 26.18M | 605K |
| EBITDA Margin % | 4.21% | 10.42% | 21.38% | 36.47% | 20.93% | 0.72% | -198.68% | 15.92% | 57.1% | -5.58% | 42.53% | -445.78% | 81.03% | -30.56% | 56.45% | 51.53% | 29.31% | 2% |
| EBITDA Growth % | -85.9% | -56.42% | -43.83% | 16.92% | 3801.55% | 100.61% | -1015.44% | -62.53% | 1032.15% | -103.72% | 123.37% | -372.28% | 438.04% | -207.47% | 32.31% | 321.75% | 4227.77% | - |
| D&A (Non-Cash Add-back) | 33.12M | 32.48M | 32.59M | 35.95M | 23.95M | 28.07M | 40.27M | 55.84M | 62.85M | 66.93M | 76.9M | 198.64M | 269.94M | 250.4M | 125.56M | 91.7M | 41.83M | 12.36M |
| EBIT | 76.73M | 76.42M | 29.97M | 161.49M | 72.09M | -19.97M | -443.39M | -18.39M | 54.28M | -79.48M | -437.64M | -1.64B | 260.87M | -407.38M | 20.79M | 18.75M | -15.63M | -1.47M |
| Net Interest Income | -13.05M | -15.58M | -14.6M | -17.72M | -14.1M | -12.1M | -20.52M | -16.86M | -4.47M | -5.58M | -146.03M | -177.98M | -137.51M | -83.11M | -12.75M | -2.07M | 9K | 6K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33K | 9K | 0 | 115K | 39K | 33K | 245K | 23K | 9K | 6K |
| Interest Expense | 13.05M | 15.58M | 14.6M | 17.72M | 14.1M | 12.1M | 20.52M | 16.86M | 4.5M | 5.59M | 146.03M | 178.1M | 137.55M | 83.14M | 13M | 2.09M | 0 | 0 |
| Other Income/Expense | 42.04M | 65.87M | -15.05M | 67.56M | -14M | -6.46M | -22.03M | -23.28M | -4.47M | -5.58M | -103.69M | -163.03M | -137.51M | -83.11M | -12.75M | -6.45M | -26.05M | -10.28M |
| Pretax Income | 18.56M | 60.84M | 15.37M | 143.77M | 57.99M | -32.07M | -463.92M | -35.25M | 49.78M | -85.08M | 123.32M | -1.81B | 123.32M | -490.51M | 7.79M | 13.88M | -41.91M | -22.04M |
| Pretax Margin % | 8.11% | 23.1% | 5.22% | 46.74% | 12.65% | -9.35% | -229.5% | -12.79% | 24.28% | -37.8% | 15.53% | -557.35% | 18.83% | -95.47% | 3.01% | 6.48% | -46.92% | -72.89% |
| Income Tax | 6.85M | 16.87M | 2.43M | -248.98M | 111K | 0 | 115K | -50K | -443K | 0 | -6.39M | -9.64M | 6.39M | -146.53M | 157.89M | 6.92M | -26.26M | -10.28M |
| Effective Tax Rate % | 36.9% | 27.73% | 15.79% | -173.18% | 0.19% | 0% | -0.02% | 0.14% | -0.89% | 0% | -5.19% | 0.53% | 5.19% | 29.87% | 2027.04% | 49.81% | 62.65% | 46.63% |
| Net Income | 11.71M | 43.97M | 12.95M | 392.75M | 57.88M | -32.07M | -464.03M | -35.2M | 49.78M | -85.08M | 116.93M | -1.8B | 116.93M | -343.99M | -150.1M | 16.66M | -15.63M | -11.75M |
| Net Margin % | 5.12% | 16.7% | 4.39% | 127.68% | 12.62% | -9.35% | -229.55% | -12.77% | 24.28% | -37.8% | 14.72% | -554.37% | 17.85% | -66.95% | -57.99% | 7.77% | -17.5% | -38.86% |
| Net Income Growth % | -28.93% | 239.63% | -96.7% | 578.62% | 280.46% | 93.09% | -1218.38% | -170.7% | 158.52% | -172.76% | 106.51% | -1637% | 133.99% | -129.18% | -1001.1% | 206.54% | -33.04% | - |
| Net Income (Continuing) | 11.71M | 43.97M | 12.95M | 392.75M | 57.88M | -32.07M | -464.03M | -35.2M | 49.78M | -85.08M | -540.4M | -1.8B | 116.93M | -343.99M | -150.1M | 16.66M | -15.63M | -11.75M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 673.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 848K | 6.81M | 6.26M | 5.71M | 0 | 0 | 0 |
| EPS (Diluted) | 0.28 | 1.03 | 0.31 | 9.63 | 1.44 | -1.17 | -12.34 | -1.20 | 1.96 | -3.39 | 4.68 | -232.62 | 10.10 | -52.30 | -25.02 | 1.56 | -1.47 | -1.10 |
| EPS Growth % | -45.95% | 232.26% | -96.78% | 568.75% | 223.08% | 90.52% | -928.33% | -161.22% | 157.82% | -172.44% | 102.01% | -2403.17% | 119.31% | -109.03% | -1703.85% | 206.12% | -33.64% | - |
| EPS (Basic) | - | 1.03 | 0.31 | 9.63 | 1.44 | -1.17 | -12.34 | -1.20 | 1.99 | -3.39 | 4.68 | -232.62 | 10.10 | -52.30 | -25.02 | 1.56 | -1.47 | -1.10 |
| Diluted Shares Outstanding | 41.14M | 40.39M | 39.66M | 38.96M | 38.35M | 37.96M | 37.61M | 29.3M | 25.34M | 25.12M | 24.99M | 7.73M | 6.64M | 6.58M | 6M | 10.64M | 10.64M | 10.64M |
| Basic Shares Outstanding | 41.14M | 40.39M | 39.66M | 38.96M | 38.35M | 37.96M | 37.61M | 29.3M | 24.97M | 25.12M | 24.99M | 7.73M | 6.64M | 6.58M | 6M | 10.64M | 10.64M | 10.64M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | 11.37% | - | 132.14% | - | - | 303.61% | - | - |
Regulatory and operational shut-in
As reported in recent financial filings, Amplify Energy's revenue has experienced a sustained downward trajectory, culminating in a 48% year-over-year decline in 2026Q1, which suggests that the company is struggling to maintain production volumes across its mature asset base in the face of significant operational headwinds.
The consistent revenue decay indicates that the natural decline rates of the Beta Field and other legacy assets are likely outpacing the company's ability to offset production through new development. Investors should monitor whether this contraction is a result of intentional capital discipline or an inability to sustain output from aging infrastructure.
Based on the company's reported figures, gross margins have fluctuated wildly between 20.4% and 94.1% over the last ten quarters, a volatility that appears to be driven by non-recurring derivative settlements rather than consistent improvements in the underlying cost of extraction for its offshore oil assets.
The extreme variance in gross margins suggests that the core business lacks the pricing power or cost stability required for predictable profitability. This instability complicates the assessment of true operational efficiency, as the headline figures are frequently distorted by the company's hedging program and non-operating accounting adjustments.
According to SEC filings, Amplify Energy has struggled to achieve positive operating income, with the company reporting a negative 9.5% operating margin in 2026Q1, which indicates that fixed costs associated with maintaining mature offshore platforms are not scaling effectively with the current, lower production volumes.
The inability to generate consistent operating income suggests that the company's high fixed-cost structure is a significant burden during periods of production decline. This lack of operating leverage implies that the company may remain vulnerable to commodity price shocks, as it lacks the margin buffer to absorb rising maintenance expenses.
As evidenced by the discrepancy between a negative 1.91% operating margin and a positive 16.70% net margin, Amplify Energy's reported profitability is heavily reliant on non-operating items, suggesting that core earnings power may be significantly weaker than the headline net income figures would otherwise imply.
The reliance on non-operating gains to drive net income warrants further investigation into the sustainability of these items, as they do not reflect the cash-generating capability of the company's primary exploration and production activities. Investors should be cautious of interpreting these bottom-line results as indicative of long-term operational success.
Based on historical performance data, the company's reliance on the Beta Field creates a concentrated risk profile where regulatory or safety-related shut-ins, such as the 2021 pipeline incident, can instantaneously decouple the company's financial performance from broader energy market trends and threaten its core revenue stream.
Short-sellers would likely focus on the potential for future decommissioning liabilities and the rising cost of environmental insurance, which could structurally compress margins further. The market's current valuation may be failing to account for the 'synthetic debt' represented by these looming, high-cost regulatory obligations.
Quick answers to the most common questions about buying AMPY stock.
For fiscal year 2025, Amplify Energy Corp. (AMPY) reported total revenue of $263.4M. This represents a 770.9% increase compared to $30.2M in 2009.
Amplify Energy Corp. (AMPY) is profitable, generating $44.0M in net income for the fiscal year ending 2025 with a net profit margin of 16.7%.
Amplify Energy Corp. (AMPY) reported an operating income of $-5.0M, resulting in an operating profit margin of -1.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Amplify Energy Corp. (AMPY) generated $71.8M in gross profit for the year, representing a gross profit margin of 27.2%. This demonstrates the company's core pricing power and production efficiency.