XPLR Infrastructure, LP
XIFR · Electric Services · 94.3M shares · +12%/yr ↑ shares · EDGAR filings ↗
Grade
D52Renewable-power infrastructure partnership with strong operating cash conversion but operating losses and negative free cash flow.
Strengths
- OCF margin ~62% (100th pct) with ~$960M cash and ~17.5 quarters of runway
- Net income growth improving (+22%, 72nd pct)
Risks
- Operating margin -15.7% (7th pct) and a net loss; revenue down ~3.4% (7th pct)
- Negative free cash flow (-$219M) reflecting heavy capital intensity
- No filing text provided, limiting qualitative confirmation of strategy/leverage
Notable findings
- Net lossNet loss (net margin -2.4%)
- Cash burnNegative free cash flow (-219.0M)
- Weak liquidityCurrent ratio 0.91 (<1)
- Chronic dilutionShare count +12%/yr over 4y (dilution)
- Strong balance sheetStrong balance sheet — $960M cash & investments, ~18 quarters of runway
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-15.7%
Net margin
-2.4%
Return on assets
-0.1%
Revenue growth (QoQ)
10.4%
Current ratio
0.9×
Free cash flow
-$219M
Cash & investments
$960M
Cash runway
18q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-17 | Bolster Brian W | Grant | 36K | — |
| 2026-02-17 | Geoffroy Jessica | Grant | 9.3K | — |
| 2026-02-17 | Geoffroy Jessica | Grant | 8.3K | — |
| 2026-02-17 | Liu Songyuan Alan | Grant | 58K | — |
| 2026-02-17 | Dunne Michael | Grant | 22K | — |
| 2026-02-17 | KETCHUM JOHN W | Grant | 88K | — |
| 2026-02-17 | Hickson Mark E | Grant | 29K | — |
| 2026-02-09 | Kind Peter H | Grant | 15K | — |
| 2026-02-09 | Liu Songyuan Alan | Tax withheld | 5.9K | $10.18 |
| 2026-02-09 | Geoffroy Jessica | Tax withheld | 710 | $10.18 |
| 2026-02-09 | Bolster Brian W | Tax withheld | 2.8K | $10.18 |
| 2026-02-09 | Austin Susan D | Grant | 15K | — |
| 2026-02-09 | Byrne Robert J | Grant | 15K | — |
| 2026-02-09 | Dunne Michael | Tax withheld | 2.1K | $10.18 |
| 2026-02-09 | KETCHUM JOHN W | Tax withheld | 18K | $10.18 |
| 2026-02-09 | Hickson Mark E | Tax withheld | 3.9K | $10.18 |
| 2025-12-05 | Kind Peter H | Other | 517 | — |
| 2025-12-05 | Kind Peter H | Other | 517 | — |
| 2025-02-18 | Liu Songyuan Alan | Grant | 66K | — |
| 2025-02-18 | Bolster Brian W | Grant | 30K | — |
| 2025-02-18 | Dunne Michael | Grant | 15K | — |
| 2025-02-18 | Hickson Mark E | Grant | 32K | — |
| 2025-02-18 | Kind Peter H | Grant | 18K | — |
| 2025-02-18 | Byrne Robert J | Grant | 18K | — |
| 2025-02-18 | Austin Susan D | Grant | 18K | — |
| 2025-02-18 | Geoffroy Jessica | Grant | 7.2K | — |
| 2025-02-18 | KETCHUM JOHN W | Grant | 102K | — |
| 2025-02-18 | KETCHUM JOHN W | Tax withheld | 5.9K | $8.51 |
| 2025-02-10 | Kind Peter H | Gift | 700 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-04-10 | Debt obligation | filing ↗ |
| 2026-04-07 | OtherExhibits | filing ↗ |
| 2026-03-27 | Debt obligationReg FD | filing ↗ |
| 2026-02-10 | Material agreementResultsDebt obligationExhibits | filing ↗ |
| 2025-12-19 | Debt obligationReg FD | filing ↗ |
| 2025-11-21 | Debt obligationExhibits | filing ↗ |
| 2025-11-12 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-07 | 2026-05-07 | 0001603145-26-000015 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001603145-26-000018 ↗ |
| 8-K | 2026-04-10 | 2026-04-10 | 0001603145-26-000013 ↗ |
| 8-K | 2026-04-07 | 2026-04-07 | 0001603145-26-000011 ↗ |
| 8-K | 2026-03-27 | 2026-03-26 | 0001603145-26-000009 ↗ |
| 10-K | 2026-02-17 | 2025-12-31 | 0001603145-26-000007 ↗ |
| 8-K | 2026-02-10 | 2026-02-06 | 0001603145-26-000004 ↗ |
| 8-K | 2025-12-19 | 2025-12-19 | 0001603145-25-000065 ↗ |
| 8-K | 2025-11-21 | 2025-11-21 | 0001603145-25-000062 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001603145-25-000059 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001603145-25-000056 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001603145-25-000054 ↗ |