07:31 AM EST, 11/12/2025 (MT Newswires) -- Kolibri Global Energy ( KGEI ) traded 2.2% lower at last look Wednesday in Nasdaq pre-market trading as the company reported a 29% drop in net income for the third quarter.

Kolibri posted a net income of US$3.6 million, or $0.10 per share, in the third quarter, falling from $5.1 million, or $0.14 per share, recorded a year ago and below the analyst consensus forecast of $0.13 per share compiled by FactSet.

The company said its third-quarter results included a $500,000 unrealized loss on commodity contracts compared to a $1.3 million unrealized gain on commodity contracts in the third quarter of 2024.

Kolibri also attribute the decrease to higher depreciation expense and higher operating expenses from increased production.

Revenue, net of royalties, totaled $15.0 million in the third quarter of 2025, compared to $13.0 million for the third quarter of 2024.

Average production jumped 40% to 4,254 barrels of oil equivalent per day while adjusted EBITDA rose 9% to $11.1 million.