Every 10-Q that Kosmos Energy Ltd. (KOS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow KOS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KOS filings page.
Kosmos Energy Ltd. reported much stronger results for the three months ended June 30, 2026, with oil and gas revenue of $607,253 (in thousands) versus $392,635 (in thousands) a year earlier. Net income was $184,775 (in thousands), compared with a net loss of $87,740 (in thousands), or basic and diluted EPS of $0.31 versus $(0.18).
For the first six months of 2026, total revenues and other income were $987,932 (in thousands), but a $200,187 (in thousands) derivatives loss and higher taxes led to a year‑to‑date net loss of $40,799 (in thousands). Operating cash flow improved to $281,566 (in thousands), supporting debt reduction.
The company sold its 40.4% interest in the Ceiba Field and Okume Complex in Equatorial Guinea for final cash consideration of about $127,000 (in thousands), recording a $9,421 (in thousands) gain and using proceeds to pay down its reserve‑based Facility. Total long‑term debt principal fell to $2,719,676 (in thousands), aided by refinancing into new 11.250% senior secured bonds and a Gulf of America term loan, while a March 2026 equity offering of 112.1 million shares added roughly $206,440 (in thousands) of common equity.
Kosmos Energy reported a larger quarterly loss as derivative positions outweighed stronger operations. Oil and gas revenue rose to $370.7 million from $290.1 million, but a $303.0 million loss on derivatives helped drive a net loss of $225.6 million, versus $110.6 million a year earlier.
Operating cash flow improved to $106.6 million, funding $91.5 million of capital spending. Kosmos strengthened liquidity with a $206.4 million common stock offering and issued $350.0 million of 11.250% senior secured Nordic bonds, using proceeds to repurchase 7.750% Senior Notes and repay $100.0 million on its credit facility.
Total debt principal was $2.95 billion at March 31 2026, including a $400.0 million 3.125% Convertible Senior Note and a $196.4 million GoA Term Loan. Kosmos also agreed to sell its 40.4% interest in the Ceiba and Okume assets for upfront cash of $180.0 million plus up to $39.5 million in contingent consideration, with the disposal group classified as held for sale.
Kosmos Energy (KOS) reported a Q3 2025 net loss of $124.3 million on oil and gas revenue of $311.0 million. Year‑to‑date, revenue was $995.2 million with a net loss of $322.6 million. Operating cash flow fell to $98.7 million for the nine months, reflecting lower realized prices, delayed Jubilee cargoes, and pre‑production and early ramp‑up costs tied to Greater Tortue Ahmeyim (GTA) Phase 1. Cash and cash equivalents were $64.0 million, with total debt principal of $3.03 billion, including $1.125 billion drawn on the Facility and $225 million undrawn availability.
In July, lenders amended the Facility’s debt cover ratio to a maximum of 4.0x for September 2025 and 4.25x for March 2026, reverting to 3.50x thereafter. Management notes circumstances under which the company may not meet the covenant at the March and September 2026 assessment dates and outlined a mitigation plan to reduce TEN operating and corporate costs and potentially monetize hedges. In October, Kosmos funded a $150 million Gulf of America secured term loan and redeemed $150 million of 7.125% notes. Shares outstanding were 478,326,954 as of October 30, 2025.
Kosmos Energy (KOS) Q2-25 10-Q highlights
- Revenue deterioration: Q2 sales fell 13% YoY to $392.6 M; H1 revenue down 22% to $682.8 M, hurt by lower liftings and weaker Brent pricing.
- Earnings swing: Net loss of $87.7 M (-$0.18/sh) versus $59.8 M profit last year; H1 loss $198.3 M (-$0.42/sh). Gross production costs nearly doubled YoY to $243.1 M while DD&A rose 68% to $151.3 M.
- Cash squeeze: Operating cash flow collapsed to $126.3 M in H1 (vs $496.2 M); cash balance down to $51.7 M from $85.0 M at year-end.
- Leverage: Total debt enlarged to $2.90 B (+$100 M); current maturities $250 M due within 12 months. Net debt/EBITDAX exceeded covenant; lenders waived restricted-cash requirement and loosened the debt-cover ratio to 4.25× through Mar-26.
- Asset progress: Greater Tortue Ahmeyim (GTA) Phase 1 achieved commercial operations in Jun-25, triggering first LNG revenue and increasing long-term receivables from national oil companies to $444.7 M.
- Capex & hedging: H1 capex trimmed to $172.8 M (prior-year $553.0 M). ~8 MMbbl of 2025-26 production hedged with collars/swaps (floors $50-60/bbl).
- Equity impact: Book value slid 15% YTD to $1.02 B as accumulated deficit widened.
Outlook: Near-term liquidity rests on GTA cash inflow, Jubilee infill drilling and maintenance of covenant headroom. High debt load, rising operating costs and volatile oil prices remain key risks.