EXEExpand Energy

Energy · Oil & Gas Production · Nasdaq

Expand Energy is the largest independent natural gas producer in the U.S., based on net daily production, and is focused on responsibly developing an abundant supply of natural gas, oil and NGL to expand energy access for all. 10-K, Item 1

Employees: 1,600
Headquarters: Spring, TX
CEO: Daniel E. Brown
Next results: around Feb 16, 2027

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Key numbers

Latest fiscal year, with ten years behind each

RevenueFY2015–25 $12.1B+186.3% FY2024: $4.2B 10-K FY2025 · XBRL Net incomeFY2015–25 $1.8B FY2024: −$714.0M 10-K FY2025 · XBRL Free cash flowFY2015–25 $1.8B+22887.5% FY2024: $8.0M 10-K FY2025 · XBRL Operating marginFY2015–25 20.4%+39.3 pts -148.2% in FY2015 10-K FY2025 · XBRL

What changed

10-K filed Feb 18, 2026 against Feb 26, 2025

Area	What changed	Source
Risk factors	20 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	10 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	4 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 18, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-26. Quoted as filed.

We depend on third-party pipelines and other investments to provide us certain gathering and transportation assets. During the fourth quarter of 2022, we entered into an agreement with Momentum Sustainable Ventures LLC to build a new natural gas gathering pipeline and carbon capture project, the New Generation Gas Gathering pipeline…
10-K, Item 1A

All 20 new paragraphs →

Accounting checks

latest 10-K

10 of 10 clear 0 worth a look. Checks, not verdicts.

✓
Receivables +30.4% vs revenue +186.3% (-155.9 pts)
✓
Cash from operations $4.6B vs net income $1.8B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Southwestern Merger - Valuation of Proved Natural Gas and Oil Properties. Same as last year: The Impact of Proved Developed Natural Gas and Oil Reserves on Proved Natural Gas and Oil Properties, Net
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 27, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
Oct 27, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 19, 2026Officer CEO change In connection with his appointment as President and Chief Executive Officer of the Company, the Company and Mr.
Oct 13, 2026Officer CAO change On October 8, 2026, Sarah Grose was appointed as Vice President - Chief Accounting Officer of Expand Energy Corporation (the “Company”).

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