Camber Reports Q1 Revenue of $8.3M & $20.2M of Stockholders' Equity

Rhea-AI Summary

Camber Energy, Inc. reported Q1 revenue of $8.3M and stockholders' equity of $20.2M. The company highlighted revenue growth following the merger with Viking Energy Group, Inc. Revenues primarily came from the power solutions business. Other Q1 highlights include improved stockholders' equity, patents received for technology, milestones in CO2-capture technology, and performance in the power solutions division.

Positive

• Improved Q1 revenue compared to previous years, showcasing growth following the merger

• Enhanced stockholders' equity of $20.2M, a significant improvement from the previous year

• Received additional patents for Broken Conductor Protection Technology, indicating innovation and technological advancements

• Achieved milestones in CO2-capture technology, demonstrating progress in environmental initiatives

• Successful performance in the Power Solutions Division, showcasing operational efficiency and revenue generation

• Execution of distribution agreements and announced purchase orders in the Viking Ozone Division, indicating business expansion and revenue potential

Negative

• None.

Insights

Financial Analyst

The reported revenue for Camber Energy indicates a notable increase to $8.3M in Q1 of 2024, up from $93,471 in the same quarter the previous year. This substantial growth can be largely attributed to the merger with Viking Energy Group. A jump in revenue of this magnitude is likely due to synergies realized post-merger and the expansion of the company's product offerings in power solutions. However, investors should consider the sustainability of this growth, particularly in the face of market fluctuations and competitive pressures in the energy sector. The increase in stockholders' equity to $20.2M also shows an improved balance sheet position, which could signal enhanced financial stability, potentially making the company more attractive for long-term investment. However, investors should scrutinize the quality of earnings to ensure the growth is not significantly impacted by one-off events or non-operational income.

Energy Sector Analyst

Camber Energy's Q1 report shows that revenue has been largely driven by their power solutions business. The entry into the design, sale and service of power generation units, particularly with additional patents for Broken Conductor Protection Technology, suggests Camber is innovating and diversifying within the energy sector. Their milestones in CO2-capture technology align with growing trends towards carbon reduction initiatives, which could position Camber favorably in a market increasingly sensitive to environmental impact. The distribution agreements and purchase orders in the Viking Ozone Division hint at an effective commercial strategy. Still, it will be important to monitor the division's operational performance and its contribution to overall profitability.

Intellectual Property (IP) Strategist

The additional patents received are significant as they enhance the company's IP portfolio, potentially offering a competitive edge in the energy market. IP is a critical asset, especially in technology-driven sectors and can contribute to sustainable revenue via licensing or providing barriers to entry for competitors. However, investing in IP also entails risks, such as the costs of defense and the need to continuously innovate. Investors with an interest in IP-centric companies should pay attention to Camber's strategy for leveraging its patents and how effectively they translate into profitable products and services.

Historical Q-1 Revenue Comparison Highlights Growth Following Merger

HOUSTON, TX / ACCESSWIRE / May 13, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") filed on May 10, 2024 its quarterly report on Form 10-Q for the quarter ended 3/31/2024, and is pleased to share a comparison of revenues reported in Q-1 2024 versus revenues reported by the Company in Q-1 for the preceding few years, demonstrating growth following the closing of CEI's merger with Viking Energy Group, Inc.

Q-1 Revenue Comparison:

		CEI - Q1 Reported Revenue Comparison
		3-month period ended 3/31/2021				3-month period ended 3/31/2022				3-month period ended 3/31/2023				3-month period ended 3/31/2024
Revenue		$	33,689			$	136,407			$	93,471			$	8,292,532

Revenues for Q-1 2024 were derived primarily from the Company's power solutions' business, including from the design, sale and/or service of power generation units and systems.

Other Q-1 Highlights:

• Stockholders' Equity of $20.2 million, compared to deficit of ($19.5 million) in Q-1 2023
• Additional Patents received for Broken Conductor Protection Technology
• Milestones reached for CO2-capture technology
• Performance in Power Solutions Division
• Distribution Agreements Executed and P.O.'s Announced in Viking Ozone Division

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc., Camber: (i) provides custom energy & power solutions to commercial and industrial clients in North America; (ii) holds an exclusive license in Canada to a patented carbon-capture system; and (iii) has a majority interest in: (a) an entity with intellectual property rights to a patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to patented and patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.

SEC Reports

All figures referenced herein are approximate and all descriptions above are qualified in their entirety by Camber's filings with the Securities and Exchange Commission ("SEC") including, without limitation, Camber's Quarterly Report on Form 10-Q filed on May 10, 2024 with the SEC (the "10-Q") and available under "Investors -- SEC Filings" at www.camber.energy. The prior period comparative financial information in the 10-Q is, as noted therein, that of Viking Energy Group, Inc. ("Viking"), a wholly-owned subsidiary of Camber as a result of the Merger involving Camber and Viking that closed on or about August 1, 2023.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.

Contact Information:

Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

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