Borr Drilling has reported a drop in revenue in its unaudited results for the three months and year ended December 31, 2025.Highlights include:•Fourth quarter total operating revenues of $259…
Borr Drilling has reported a drop in revenue in its unaudited results for the three months and year ended December 31, 2025.
Highlights include:
•Fourth quarter total operating revenues of $259.4 million, a decrease of $17.7 million or 6% compared to net income in the third quarter of 2025
• Fourth quarter net loss of $1.0 million, a decrease of $28.8 million compared to the third quarter of 2025
• Fourth quarter adjusted EBITDA of $105.2 million, a decrease of $30.4 million or 22% compared to the third quarter of 2025
• 2025 annual net income of $45.0 million, a decrease of $37.1 million or 45% compared to 2024
• 2025 annual adjusted EBITDA of $470.1 million, a decrease of $35.3 million or 7% compared to 2024
• Entered into an agreement for the acquisition of five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million, which was subsequently completed in January 2026
• Completed offering of additional $165 million principal amount of 10.375% senior secured notes due 2030
• Completed equity offering of 21 million shares at a price of $4.00 per share for total gross proceeds of $84 million
• For
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