AleAnna Reports $4.3M Q1 EBITDA, $8.9M Longanesi Revenue and 47% Reserves Gain
ANNA•AleAnna generated $8.9 million in Q1 2026 revenue from Longanesi field and delivered $4.3 million of Adjusted EBITDA alongside $3.4 million net income, closing the quarter with $31.1 million in cash. A year-end 2025 reserves report showed Total Proved Reserves up 47% year-over-year, including 37% growth at Longanesi, 75% at Gradizza and first-time recognition at Trava.
1. Q1 Financial Results
AleAnna posted Adjusted EBITDA of $4.3 million and net income of $3.4 million for the first quarter of 2026. Revenue from its share of Longanesi field production reached $8.9 million, and the company ended the quarter with $31.1 million in cash and cash equivalents.
2. Proved Reserves Expansion
A third-party reserves report for year-end 2025 recorded a 47% increase in Total Proved Reserves versus year-end 2024, after adjusting for 2025 production. Growth was concentrated at Longanesi (37% increase) and Gradizza (75% increase), with Proved Developed Producing reserves recognized at Longanesi and initial Proved Reserves listed at Trava.
3. Field Performance and Ramp-Up
Production at the Longanesi field stabilized in 2025 following a rapid ramp-up that surpassed volume and timing forecasts. Daily output sustained strong margins, underpinning the company’s positive cash flow and EBITDA contribution in Q1 2026.
4. Outlook and Strategic Positioning
Management highlighted a solid balance sheet and advancing growth strategy supported by positive cash flow and an expanding asset base. The company plans to issue further updates on undeveloped Prospective Resources and leverage its domestic gas production to enhance Italy’s energy security.
