VIVK · Vivakor, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“These conditions raise substantial doubt about the Company’s ability to continue as a going concern. ... Based on the above, we believe there is substantial doubt about the Company’s ability to continue as a going concern.”View the 10-Q filed Aug 19, 2026
2 customers — 90% of revenue (the three months ended March 31, 2026)
“During the three months ended March 31, 2026, two customers, including one related party, accounted for approximately 90% of the Company’s revenues.”
2 customers — 15% of revenue (the three months ended March 31, 2025)
“During the three months ended March 31, 2025, two customers, including one related party, accounted for approximately 15% of the Company’s revenues.”
2 customers — 31% of receivables (As of March 31, 2025)
“As of March 31, 2025, these customers represented approximately 31% of the Company’s accounts receivable balance.”
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| $89.55M | $104.42M | $89.81M | $59.32M | $28.11M | $1.09M | $1.46M | |
| $48.79M | $66.67M | $79.59M | $54.3M | $25.24M | $1.05M | $1.36M | |
| $40.77M | $37.75M | $10.22M | $5.02M | $2.87M | $37.75K | $101.4K | |
| — | 36.15% | 11.38% | 8.46% | 10.2% | 3.47% | 6.96% | |
| — | $8220 | $15.27K | $3070 | $392.91K | $849.11K | $567.29K | |
| $42.52M | $43.01M | $12.21M | $7.42M | $9.96M | $4.65M | $2.81M | |
| — | — | $3.05M | $844.93K | — | — | — | |
| $10.38M | $17.98M | $11.36M | $3.93M | $2.95M | $1.46M | $1.56M | |
| $93.64M | $101.57M | $32.21M | $11.35M | $25.61M | $6.96M | $4.95M | |
| -$52.88M | -$63.83M | -$22M | -$6.33M | -$22.74M | -$6.93M | -$4.85M | |
| — | -61.13% | -24.49% | -10.67% | -80.92% | -636.32% | -332.59% | |
| -$42.49M | -$45.85M | -$10.63M | -$2.4M | -$19.79M | -$5.46M | -$3.29M | |
| -$44.58M | -$46.29M | -$4.23M | -$4.41M | -$1.94M | -$1.38M | $2.44M | |
| -$97.45M | -$110.12M | -$26.22M | -$10.74M | -$24.68M | -$8.31M | — | |
| $117K | $117K | $126.87K | $92.7K | -$4.44M | -$1.05M | $466.96K | |
| -$97.57M | -$110.24M | -$26.35M | -$10.84M | -$20.25M | -$7.26M | -$2.87M | |
| — | -105.57% | -29.34% | -18.27% | -72.04% | -666.62% | -196.97% | |
| -$103.26M | -$115.32M | -$23.04M | -$10.74M | -$19.44M | -$5.53M | -$2.36M | |
| USD/shares | -$5,573.25 | -$6,360.20 | -$3,026.40 | -$2,166.34 | — | -$1,779.50 | -$889.75 |
| USD/shares | -$5,573.25 | -$6,360.20 | -$3,026.40 | -$2,166.34 | — | — | — |
| shares | — | 18.13K | 7614.25 | 4979.0055 | — | 3095.826 | 2665.1782 |
| shares | — | 18.13K | 7614.25 | 4979.0055 | — | — | — |
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2024 | FY2023 |
|---|---|---|
| Total Consolidated | $58,612,151 | $46,252,141 |
| Terminaling and Storage Segment | $39,829,406 | $46,202,141 |
| Transportation Logistics Segment | $18,782,745 | — |
| Corporate And Other | — | $50,000 |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenues | $84,193,403 | $58,612,151 | — | — | — | — |
| Revenues Related Party | $20,225,406 | $31,199,089 | — | — | — | — |
| Crude Oil | — | — | $47,683,331 | $21,409,300 | — | — |
| Natural Gas | — | — | $11,268,005 | $5,890,910 | — | — |
| Precious Metal Concentrate | — | — | — | — | — | $54,250 |
| Product Revenue Related Parties | — | — | $13,069,611 | $6,649,073 | — | — |
| Product Revenue Third Parties | — | — | $46,252,141 | $21,458,150 | $1,088,428 | — |
| Terminaling and Storage | — | — | $59,321,752 | — | — | — |
| Transportation Logistics | — | — | $0 | — | — | — |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2024 | FY2023 |
|---|---|---|
| Terminaling and Storage Segment | -$355,284 | $1,290,514 |
| Transportation Logistics Segment | -$2,404,103 | — |
| Corporate And Other | -$19,235,906 | -$7,622,174 |
| Total Consolidated | -$21,995,293 | -$6,331,660 |
Operating Margin by Segment (%)
| Component | FY2024 | FY2023 |
|---|---|---|
| Total Consolidated | -37.5% | -13.7% |
| Terminaling and Storage Segment | -0.9% | 2.8% |
| Transportation Logistics Segment | -12.8% | — |
| Corporate And Other | — | -15244.3% |