MMEX Resources (MMEX) Q2 2025 Earnings Report

MMEX Resources Corporation reported a negative quarterly bottom line for QQ2 2025, with net income of -$471,447 and EBITDA of -$378,182. The quarter shows almost no revenue disclosure (revenue is not reported in the data), while operating expenses remained elevated at $367,269 and interest expense amounted to $84,165. With a gross loss of -$9,100 driven by a cost of revenue of $9,100, the company posted -$367k in operating income and -$471k in income before tax, culminating in -$471k net income. The quarter’s cash flow reflects a meaningful operating cash burn (-$164,071) and only a marginal financing inflow (+$170,724), resulting in a negligible net change in cash (+$6,653) and an ending cash balance of $6,913.

From a balance sheet perspective, MMEX carries a highly leveraged and fragile liquidity position. Total assets are $1.034 million against total liabilities of $5.70 million, yielding a negative stockholders’ equity of -$4.67 million. The company reports a short-term debt of $735,592 and total debt of $735,592, with net debt of $728,679. The current ratio and quick ratio are profoundly distressed at 0.00183, signaling material liquidity risk and limited near-term solvency capacity. The equity base is negative, and key efficiency metrics show limited asset turnover. The company’s cash position is hardly sufficient to cover near-term obligations absent external capital or asset monetization.

Strategically, MMEX remains focused on solar-powered modular refineries, green/blue hydrogen production, and carbon capture. However, in the QQ2 2025 reporting cycle, there is no disclosed management guidance or earnings-call transcript in the provided data. The near-term investment thesis therefore remains highly contingent on capital-raising activity, partnerships, or interim financing to support ongoing operations and to fund the progress of its transition into clean fuels. Investors should treat this as a high-risk, high-uncertainty scenario with potential upside only if liquidity is secured and the strategic plan starts translating into revenue growth and margin improvement.