Vivakor
VIVKNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $0.25 Prior regular-session close from the quote source.
- $0.20–$0.24 Regular-session low and high so far today.
- 2.1M Regular-session shares traded · Nov 12, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $0.20–$10,290.00 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own VIVK if its oilfield waste/remediation and recovered-hydrocarbon platform turns recent gross-profit improvement into self-funded cash flow before liquidity pressure or dilution overwhelms common shareholders.
VIVK price history
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Investment thesis
What must happen next
Vivakor’s customer problem is real only if oilfield waste/remediation customers continue choosing its recovery-and-processing route over cheaper disposal, do-nothing, or commodity-exposed alternatives.StrengtheningMateriality: High
GAAP annual revenue increased from $1.1 million in FY2021 to $104.4 million in FY2025. If demand is recurring, Vivakor has a platform to scale; if it is episodic or price-sensitive, revenue growth will not support a durable equity story.
Watch: Oilfield customers shift volumes to conventional landfill, disposal well, or trucking alternatives because Vivakor’s route is not cost-competitive.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $1.1 million in FY2021 to $104.4 million in FY2025.
Open source ↗The recovery and processing model must produce structurally better unit economics as throughput and mix improve, rather than merely passing through low-margin commodity or logistics volumes.StrengtheningMateriality: High
GAAP annual gross profit rose from $10.2 million in FY2024 to $37.7 million in FY2025. If gross profit improvement is repeatable, Vivakor can eventually fund overhead; if it is transient, scale will not create shareholder value.
Watch: Recovered hydrocarbon spreads narrow enough that Vivakor loses product-margin capture even if volumes hold.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit rose from $10.2 million in FY2024 to $37.7 million in FY2025.
Open source ↗Management must integrate operations and restrain corporate, transaction, and project costs so that gross profit converts into operating income rather than being absorbed by the public-company and acquisition overhead structure.WeakeningMateriality: Medium
FY2025 GAAP gross profit of $37.7 million shows there is now a larger contribution pool available to absorb fixed costs. This is the difference between a scalable operating business and a revenue roll-up that destroys value as it grows.
Watch: Management continues pursuing complex acquisitions or projects that add integration expense faster than site-level contribution.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP gross profit of $37.7 million shows there is now a larger contribution pool available to absorb fixed costs.
Open source ↗Vivakor’s commercial terms and working-capital discipline must let gross profit turn into cash; otherwise growth will require outside financing instead of compounding per-share value.WeakeningMateriality: Medium
GAAP operating cash flow was positive $1.8 million in FY2024, showing cash generation is possible under some operating conditions. A cash-consuming growth model can force dilution, asset sales, or lender control even when reported gross margins look attractive.
Watch: Customers stretch payment terms or disputes delay collections on remediation/processing work.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP operating cash flow was positive $1.8 million in FY2024, showing cash generation is possible under some operating conditions.
Open source ↗The balance sheet must remain financeable long enough for operations to stabilize, because creditor pressure could capture asset value before common shareholders benefit from any operating improvement.HoldingMateriality: Medium
Total liabilities declined from $125.9 million at FY2024 year-end to $76.3 million at FY2025 year-end. For a small, loss-making company, survival terms can matter more than revenue growth for common-equity returns.
Watch: Lenders tighten terms, accelerate debt, or require asset sales because operating cash flow remains negative.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Total liabilities declined from $125.9 million at FY2024 year-end to $76.3 million at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
Vivakor’s customer problem is real only if oilfield waste/remediation customers continue choosing its recovery-and-processing route over cheaper disposal, do-nothing, or commodity-exposed alternatives. If demand is recurring, Vivakor has a platform to scale; if it is episodic or price-sensitive, revenue growth will not support a durable equity story.
The recovery and processing model must produce structurally better unit economics as throughput and mix improve, rather than merely passing through low-margin commodity or logistics volumes. If gross profit improvement is repeatable, Vivakor can eventually fund overhead; if it is transient, scale will not create shareholder value.
Management must integrate operations and restrain corporate, transaction, and project costs so that gross profit converts into operating income rather than being absorbed by the public-company and acquisition overhead structure. This is the difference between a scalable operating business and a revenue roll-up that destroys value as it grows.
Vivakor’s commercial terms and working-capital discipline must let gross profit turn into cash; otherwise growth will require outside financing instead of compounding per-share value. A cash-consuming growth model can force dilution, asset sales, or lender control even when reported gross margins look attractive.
The balance sheet must remain financeable long enough for operations to stabilize, because creditor pressure could capture asset value before common shareholders benefit from any operating improvement. For a small, loss-making company, survival terms can matter more than revenue growth for common-equity returns.
All standing thesis claims
Original report summary
its oilfield waste/remediation and recovered-hydrocarbon platform turns recent gross-profit improvement into self-funded cash flow before liquidity pressure or dilution overwhelms common shareholders.
Bull case and bear case
Bull case and bear case for Vivakor
Where the evidence on Vivakor disagrees: Mixed on the latest evidence (Nov 8, 2026). Of its 5 thesis points, 2 strengthening, 1 holding and 2 weakening.
Bull case: what the evidence supports
Vivakor’s customer problem is real only if oilfield waste/remediation customers continue choosing its recovery-and-processing route over cheaper disposal, do-nothing, or commodity-exposed alternatives.
The recovery and processing model must produce structurally better unit economics as throughput and mix improve, rather than merely passing through low-margin commodity or logistics volumes.
The balance sheet must remain financeable long enough for operations to stabilize, because creditor pressure could capture asset value before common shareholders benefit from any operating improvement.
Bear case: what the evidence questions
Management must integrate operations and restrain corporate, transaction, and project costs so that gross profit converts into operating income rather than being absorbed by the public-company and acquisition overhead structure.
Vivakor’s commercial terms and working-capital discipline must let gross profit turn into cash; otherwise growth will require outside financing instead of compounding per-share value.
Thesis-Break Engine
Thesis-break watch · Vivakor
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedUnregistered sale of equity securities.
Vivakor filed an SEC 8-K on 2026-11-04: Unregistered sale of equity securities. It is a dated development that tests the current thesis.
- MixedUnregistered sale of equity securities.
Vivakor filed an SEC 8-K on 2026-10-15: Unregistered sale of equity securities. It is a dated development that tests the current thesis.
- MixedUnregistered sale of equity securities.
Vivakor filed an SEC 8-K on 2026-10-09: Unregistered sale of equity securities. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Oilfield customers shift volumes to conventional landfill, disposal well, or trucking alternatives because Vivakor’s route is not cost-competitive.
- Recovered hydrocarbon spreads narrow enough that Vivakor loses product-margin capture even if volumes hold.
- Management continues pursuing complex acquisitions or projects that add integration expense faster than site-level contribution.
- Customers stretch payment terms or disputes delay collections on remediation/processing work.
- Lenders tighten terms, accelerate debt, or require asset sales because operating cash flow remains negative.
VIVK news
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Financial statements
VIVK income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
