Key Highlights

  • Crescent Energy's Top Line jumped 56% to $1.35 billion, but a Derivatives hit of $405.8 million left it $0.6 million in the red.
  • Kosmos Energy's red ink narrowed, dropping from $124.3 million to $43.0 million even after absorbing a $133.9 million derivatives charge.
  • FFO as adjusted rose 46% and sales grew 78% at Janus Living, yet Depreciation pushed it to a $5.6 million loss.
  • Tempus AI's top line rose 23% to $411.5 million, while its net loss narrowed to $14.9 million and adjusted EBITDA reached $25.6 million.
  • Vitesse Energy's top line grew to $83.0 million, up 23%, while a derivatives hit of $58.6 million yielded a $36.4 million deficit.

Which Firms Booked Higher Sales Yet Ended With a Net Loss?

Five firms that released results around Nov 2, 2026 posted sales growth but still recorded losses. Crescent Energy (NYSE:CRGY) recorded $1,351.2 million in revenue, a 56% gain, yet ended with $0.6 million of red ink. Kosmos Energy (NYSE:KOS) posted total Revenue plus other income of roughly $409.9 million, a 31.7% increase (calculated), and a $43.0 million loss. Janus Living (NYSE:JAN) generated $268.3 million, a 78.3% rise (calculated), and a $5.6 million deficit.

Tempus AI (NASDAQ:TEM) reached $411.5 million in sales, compared with $334.2 million before, and posted a $14.9 million loss. Vitesse Energy (NYSE:VTS) pushed its top line up 23%, reaching $83.0 million, and reported a $36.4 million deficit.

The explanations differ. Three oil and gas producers booked derivative losses, Janus Living's profit was hit by depreciation after acquisitions, and Tempus AI's loss was reduced partly by unrealized Equity gains. Each loss is set against revenue bases that vary enormously.

Crescent Energy: Why an Operating Profit of $478.7 Million Still Left a Loss

Operating income came in at $478.7 million, against $30.8 million previously. Below that line, derivative results swung to a $405.8 million loss, after a $55.7 million gain in the prior year, and $94.2 million of interest brought the net result down to a $0.6 million deficit. The portion assigned to shareholders came to $2.2 million, equal to $0.01 a share.

Oil revenue climbed 75% to $1.04 billion, supported by a realized price of $84.52 a barrel, 34% higher, and volumes that rose 30%. Adjusted EBITDAX grew 62% to $785.8 million, a gain partly tied to a December 2025 merger.

The company agreed on Oct 8, 2026 to acquire Eagle Ford properties for approximately $4.2 billion, paid in cash. Its regular quarterly payout is $0.12 per share, and the article depends only on the quarterly filing, without a press release or call.

Kosmos Energy: What Shrank the Loss, and What Still Weighed on It

Kosmos's red ink fell to $43.0 million, which is $0.07 a share, compared with $124.3 million, equal to $0.26 a share. Oil and gas revenue went up 31.9% (calculated), reaching $410.1 million, while output reached 62,437 barrels of oil equivalent each day despite a June 2026 divestiture. According to the filing, shifts in the forward oil curve sit behind a $133.9 million derivatives charge.

Nine-month Operating Cash Flow amounted to $445.6 million, while net Debt dropped to $2.47 billion, down 17.1% (calculated). The company anticipates roughly $300 million in free cash flow during 2026.

Guidance held steady, and cargo and output goals were restated. Leadership noted weaker fourth-quarter production stemming from scheduled maintenance and downtime tied to a storm.

Janus Living: Does Depreciation Explain the Distance Between FFO and Earnings?

Janus Living's top line expanded by 78%, reaching $268 million; adjusted EBITDAre went up 101%, landing at $105 million, and FFO as adjusted rose 46%, to $0.25 a share. However, the Bottom Line was a $5.6 million loss, or $0.02 a share, after depreciation and amortization climbed from $30.9 million to $78.7 million, reflecting a wave of senior housing purchases.

The senior housing REIT bought 33 communities during the quarter for around $1.75 billion, and raised roughly $513 million net through an August offering. Cash of $338 million and zero debt were reported as of Sep 30, 2026.

Forward guidance is split: FFO as adjusted now sits between $0.97 and $0.99 a share, while the diluted EPS outlook was trimmed to $0.08 through $0.10 from $0.34 through $0.37.

Tempus AI: Equity Gains Versus Operations in a Smaller Net Loss

Tempus AI's net loss shrank, arriving at $14.9 million ($0.08 a share), from $80.0 million ($0.46 a share). A $44.0 million increase in unrealized gains on marketable equity holdings was credited with most of the improvement. Operating loss came in at $56.9 million, compared with $61.0 million.

Diagnostics brought in $303.5 million, while data and applications contributed $108.1 million. Adjusted EBITDA went from $1.5 million to $25.6 million, and management kept its roughly $65 million target for the full year.

Management raised its 2026 revenue outlook, but the new figures are garbled in the transcript, so no range appears here. A deal valued at an Enterprise value of $1.5 billion is slated to finish in the fourth quarter.

Vitesse Energy: How Rising Benchmark Prices Still Produced a $36.4 Million Loss

Top-line revenue at Vitesse came to $83.0 million, a 23% increase, even though volumes slid 7%, whereas the pre-hedge average realized price rose 33%. The net loss totaled $36.4 million, equal to $0.86 per share, against $1.3 million the prior year.

A $58.6 million Commodity derivatives loss, which included $11.9 million realized and $46.6 million unrealized, was the principal cause, with the benchmark oil price rising between $69.50 and $90.42 a barrel. Roughly 76% of oil output was hedged, so the realized oil price after hedges was $68.33 against $82.56 before.

Cash from operations came to $39.4 million, while $190.5 million remained outstanding under its Credit line. The article contains no guidance.

Loss Ratios and Hedging Charges Across the Five Companies

On average, the five companies' revenue expanded by about 42.4% (calculated), while net losses added up to roughly $100.5 million (calculated). Measured against revenue, the loss ratio runs from roughly 0.04% for Crescent Energy to 43.9% for Vitesse Energy (both calculated).

Across the three producers, derivative losses total $598.3 million (calculated), with Crescent Energy at $405.8 million, Kosmos Energy at $133.9 million and Vitesse Energy at $58.6 million. The revenue bases behind them vary enormously, from Vitesse Energy's $83.0 million up to Crescent Energy's $1,351.2 million.

Janus Living and Tempus AI are different cases, with depreciation and equity gains at work, so the grouping fits only loosely.

What to Watch Next: Payout Dates, a Shareholder Meeting and Pending Closings

Crescent's Dividend of $0.12 is due Nov 30, 2026 for holders registered on Nov 16, and the Eagle Ford Acquisition is expected to finish in the final quarter of 2026 or early 2027. Tempus AI's shareholder gathering is scheduled for Nov 30, 2026. Vitesse's payout of $0.4375 per share is due Dec 31, 2026, with registration as of Dec 15.

Janus Living's monthly payments fall on Nov 23, with another on Dec 29, 2026. Kosmos Energy's materials focus on drilling plans for 2027, but no specific dates were given.