PEDEVCO Corp. has announced its financial results for the first quarter of 2025, reporting a revenue of $8.74 million, which marks an increase of $0.6 million compared to the same period in 2024. The company produced an average of 1,707 barrels of oil equivalent per day (BOEPD) in Q1 2025, representing a 15% increase from the 1,478 BOEPD produced in Q1 2024. Despite the increase in revenue, operating income saw a decline, decreasing by 76% to $0.15 million from Q1 2024 levels. The net income for this period stood at $0.1 million, a decrease from the $0.8 million reported in Q1 2024. This decline was primarily attributed to a $1.1 million increase in total operating expenses. Adjusted EBITDA also experienced a decrease, dropping to $4.3 million from $4.7 million in the previous year's first quarter. PEDEVCO reported cash and cash equivalents of $13.2 million as of March 31, 2025, including $2.75 million in restricted cash, with no debt. The company's total current assets exceeded its total current liabilities by $6.7 million, highlighting a working capital surplus. The increase in production volumes was largely due to participation in new non-operated wells in the D-J Basin, as well as continued production from its operated wells.