10-Q · May 7, 2026
In its latest 10-Q filing for Q1 2026, New Concept Energy, Inc. reported revenues of $39,000, a slight increase from $38,000 in Q1 2025. While the company managed to reduce its net loss to $14,000 from $20,000…
Earnings analysis · 10-Q
GBR earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
New Concept Energy’s Q2 2026 revenue was broadly flat at $41,000 versus $40,000 a year earlier, but the net loss widened to $66,000 from $18,000 as G&A expense rose to $129,000 from $85,000. Cash declined by $79,000 to…
Read full summary
New Concept Energy’s Q2 2026 revenue was broadly flat at $41,000 versus $40,000 a year earlier, but the net loss widened to $66,000 from $18,000 as G&A expense rose to $129,000 from $85,000. Cash declined by $79,000 to $304,000, although the company reported no outstanding interest-bearing debt and current assets remained above current liabilities. The filing provides no quantitative guidance and continues to highlight financing, operating, property, and execution risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Operating margin
- -214.6%
What stood out
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Revenue edged higher year over year
Second-quarter revenue increased to $41,000 from $40,000 in Q2 2025, with management fees rising to $15,000 from $14,000 while rental income remained $26,000.
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Debt-free balance sheet
The company reported a net loss of $66,000 versus a $18,000 loss in Q2 2025. Corporate general and administrative expense increased to $129,000 from $85,000.
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All interest-bearing debt extinguished
The company stated that it had extinguished all outstanding interest-bearing debt obligations, leaving only a variable-rate note receivable exposed to interest-rate changes.
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Current assets exceed liabilities
Current assets of $369,000 exceeded current liabilities of $116,000 at June 30, 2026, representing approximately $253,000 of reported current-asset coverage.
What to watch
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Cash balance declined
Cash and cash equivalents declined to $304,000 at June 30, 2026 from $383,000 at December 31, 2025, a decrease of $79,000, while the company reported a quarterly net loss of $66,000.
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Corporate costs remain disproportionate
Operating expenses outpaced revenue materially: revenue was $41,000 while corporate general and administrative expense was $129,000, implying an operating margin of approximately negative 214.6% before other operating items.
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Working-capital cushion narrowed
Current liabilities rose to $116,000 from $69,000 at December 31, 2025, while current assets fell to $369,000 from $396,000, reducing the current ratio from approximately 5.7x to 3.2x.
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Financing and execution risks persist
Management identified potential exposure to interest-rate fluctuations, financing availability, demand, pricing, competition, construction and permitting delays, and property disposition or restructuring risks; the company also reported a 100% valuation allowance against its deferred tax asset because realization was not more likely than not.
Management's outlook
No quantitative revenue or EPS guidance was provided. The filing contains only general forward-looking risk disclosures; outlook may be deferred to the earnings release or call.
Earlier filings 4
10-K · March 31, 2026
New Concept Energy (GBR) is a very small landlord and service provider whose 2025 operations consist of West Virginia real estate leasing, management services for oil & gas (10% fee) and interest income from notes…
10-Q · November 12, 2025
New Concept Energy reported third-quarter revenue of $39,000 and diluted EPS of $(0.01) for the quarter ended September 30, 2025 (vs. $37,000 and $(0.01) in Q3 2024). Operating loss widened to $63,000 (operating margin…
10-K · March 24, 2025
New Concept Energy (GBR) is a very small, asset-light company whose 2024 operations consist of leasing 16,000 sq. ft. of its Parkersburg, WV property (rent $101,000) and providing management services to a third‑party…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.