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Vivakor
(NASDAQ:VIVK)
Vivakor (VIVK) vs. SPDR S&P 500 ETF (SPY)
Vivakor Business Overview & Revenue Model
Vivakor Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 125.11M | 89.81M | 59.32M | 28.11M | 1.09M | 1.46M |
| Gross Profit | -3.66M | -1.14M | 1.09M | -86.37K | -1.42M | -1.46M |
| EBITDA | -25.90M | -10.05M | -2.78M | -20.21M | -6.34M | -755.62K |
| Net Income | -69.66M | -22.19M | -10.74M | -19.44M | -5.48M | -2.18M |
Balance Sheet | ||||||
| Total Assets | 160.13M | 241.04M | 71.24M | 76.34M | 47.35M | 42.30M |
| Cash, Cash Equivalents and Short-Term Investments | 568.21K | 1.31M | 1.24M | 4.84M | 3.72M | 4.42M |
| Total Debt | 47.66M | 80.24M | 33.43M | 42.03M | 13.01M | 8.69M |
| Total Liabilities | 96.09M | 125.92M | 54.00M | 49.28M | 20.19M | 16.25M |
| Stockholders Equity | 68.16M | 119.24M | 17.20M | 18.85M | 22.54M | 24.77M |
Cash Flow | ||||||
| Free Cash Flow | 3.78M | -2.73M | -4.09M | -6.63M | -7.42M | -2.97M |
| Operating Cash Flow | 5.96M | 1.81M | -764.90K | -4.14M | -2.90M | -1.75M |
| Investing Cash Flow | 4.36M | 302.19K | -3.71M | -2.33M | -4.51M | -1.23M |
| Financing Cash Flow | -9.82M | 819.67K | 2.04M | 8.17M | 8.51M | 2.77M |
Vivakor Technical Analysis
Vivakor Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $58.45M | 10.56 | 375.02% | 12.78% | 22.51% | 26.50% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
57 Neutral | $46.59M | 9.09 | 7.20% | 11.00% | -0.83% | -0.82% | |
54 Neutral | $58.41M | 27.66 | 4.93% | 6.02% | 18.14% | -68.41% | |
44 Neutral | $32.93M | -1.22 | -80.75% | ― | -57.06% | 38.11% | |
41 Neutral | $12.97M | -0.02 | -163.97% | ― | 101.82% | -605.58% |
Vivakor Corporate Events
Vivakor, Inc., a Nevada-based company, received a notification from Nasdaq on December 11, 2025, regarding non-compliance with Nasdaq Listing Rule 5635(d) due to its October 2025 direct offerings. The company issued shares and pre-funded warrants exceeding 20% of pre-transaction shares without prior shareholder approval, which is required when offering prices are below the minimum price. Despite the notice, Vivakor’s stock remains listed on Nasdaq, and the company has 45 days to submit a compliance plan. Additionally, between December 10 and December 15, 2025, the company issued shares following the conversion of promissory notes, exempt from registration under securities regulations.
Between May and June 2025, Vivakor issued convertible promissory notes totaling over $5 million to accredited investors, converting parts of these into shares in December 2025. This financial maneuver was exempt from registration, reflecting strategic capital management. On December 4, 2025, Vivakor announced its entry into the international fuel market with a transaction into Mexico, marking a significant milestone in its growth strategy. This expansion demonstrates Vivakor’s capability to operate beyond domestic markets, supported by its robust compliance and operational frameworks, positioning the company for further growth in North America’s energy supply chain.
On December 3, 2025, Vivakor, Inc. began utilizing a new investor presentation to communicate with existing shareholders and potential investors. This move follows the successful divestiture of its water trucking business in Q3 2025, which reduced over $50 million in debt, and the closing of a $40 million commodity intermediation facility in October 2025. The company is also preparing to launch a new remediation processing center in Houston by Q1 2026, positioning itself for further growth and value creation across its business segments.
Vivakor issued 3,616,310 shares of restricted common stock on November 26, 2025, to settle dividends owed on its Series A Preferred Stock for July 31 and October 31, 2025. A significant portion of these shares was allocated to entities controlled by CEO James Ballengee, with the issuance exempt from registration under the Securities Act. Additionally, 1,557,808 shares were issued to a consultant under a Consulting Agreement, and 82,500 shares were issued as inducement shares to an investor. The company also amended its Series A Preferred Stock to include voting rights, granting holders approximately 35% of the company’s outstanding votes.
Between May 14 and May 19, 2025, Vivakor issued convertible promissory notes totaling $575,000 to accredited investors, receiving $500,000 before fees. On November 19 and 20, 2025, two investors converted $180,467.07 of these notes into 2,920,639 shares of common stock. Additionally, on March 17, 2025, Vivakor issued a junior secured convertible promissory note of $6,625,000, receiving $5,000,000 before fees. On November 20, 2025, a portion of this note was converted into 1,928,188 shares, fulfilling the company’s obligations under the note.
Vivakor, Inc. recently engaged in financial transactions involving convertible promissory notes with J.J. Astor & Co. and ClearThink Capital Partners, LLC. On March 17, 2025, Vivakor issued a note to J.J. Astor & Co. for $6,625,000, receiving $5,000,000 after fees. Subsequent conversions on November 14 and 18, 2025, resulted in the issuance of shares without restrictive legends. Similarly, on May 13, 2025, Vivakor issued a note to ClearThink Capital Partners for $294,117.65, receiving $250,000 after fees, with a conversion on November 14, 2025, leading to further share issuance. These transactions, exempt from registration, reflect Vivakor’s strategic financial maneuvers to manage its capital structure.
Vivakor, Inc. announced that it issued shares of its common stock following the conversion of a portion of a promissory note by J.J. Astor & Co. This transaction, which took place in November 2025, involved the conversion of $300,000 of the principal amount into shares, exempt from registration due to the investor’s accredited status. Additionally, Vivakor appointed Kimberly Hawley as the new Company Secretary following the resignation of Patrick Knapp. Ms. Hawley, who joined Vivakor in July 2025 as Executive Vice President and Chief Financial Officer, brings extensive financial management experience from her previous role at Empire Diversified Energy, Inc.
On October 30, 2025, Vivakor, Inc. announced the pricing of a $2.7 million registered direct offering of common stock and pre-funded warrants with a single institutional investor. The offering, facilitated by D. Boral Capital LLC as the exclusive placement agent, is expected to close around October 31, 2025, pending customary conditions. This financial move is part of Vivakor’s strategy to enhance its market position within the energy infrastructure sector, potentially impacting its operational capabilities and stakeholder interests.
On October 30, 2025, Vivakor, Inc. announced the launch of its commodities trading platform, Vivakor Supply & Trading (VST), with a significant $24 million crude oil transaction. This milestone marks the beginning of VST’s active crude oil marketing operations in the Permian Basin, utilizing Vivakor’s midstream logistics capabilities. The transaction is expected to enhance Vivakor’s market reach and generate substantial revenue as volumes increase, reflecting the company’s strategic integration of trading with its logistics and midstream assets.
On March 17, 2025, Vivakor, Inc. issued a junior secured convertible promissory note to J.J. Astor & Co. for $6,625,000, receiving $5,000,000 before fees. On October 23, 2025, the lender converted $400,000 of the note into 3,923,492 shares of Vivakor’s common stock, which were issued without a restrictive legend, as the lender is an accredited investor.
On October 24, 2025, Vivakor announced the pricing of a $3.5 million registered direct offering of common stock and pre-funded warrants, expected to close on October 27, 2025. This move, facilitated by D. Boral Capital LLC, is part of Vivakor’s strategy to strengthen its financial position, potentially impacting its operations and market presence in the energy infrastructure sector.
On October 23, 2025, Vivakor announced the closing of a $40 million commodity intermediation credit facility with a wholesaler, aimed at supporting the growth of its crude oil trading platform. This facility, which provides credit support for physical crude oil transactions, is expected to enhance Vivakor’s supply chain management and expand its crude oil marketing operations, thereby strengthening its liquidity and operational agility.
On October 16, 2025, Vivakor announced a $5 million registered direct offering with a single institutional investor, involving the sale of common stock and pre-funded warrants. The proceeds are intended for working capital and general corporate purposes, potentially impacting the company’s operational flexibility and market positioning.
Vivakor, Inc. issued a junior secured convertible promissory note to J.J. Astor & Co. on March 17, 2025, with a principal amount of $6,625,000, receiving $5,000,000 before fees. On October 10, 15, and 16, 2025, the lender converted portions of this note into shares of Vivakor’s common stock, totaling 10,915,027 shares, which were issued without a Rule 144 restrictive legend, as the holder is an accredited investor.
Vivakor issued the Third Note and agreed to issue Commitment Shares to a lender on October 8, 2025, with the securities containing a standard Rule 144 restrictive legend. These securities were exempt from registration due to the holder’s familiarity with Vivakor’s operations, and the company received funds under the Second Forbearance Agreement and the Third Note on October 9 and 10, 2025.
Vivakor, Inc. announced financial transactions involving convertible promissory notes and share issuances. On March 17, 2025, Vivakor issued a $6,625,000 junior secured convertible promissory note to J.J. Astor & Co., receiving $5,000,000. By October 2025, portions of this note were converted into shares. Additionally, on August 12, 2025, Vivakor issued another convertible note worth $647,500 to a non-affiliated investor, receiving $550,000 and issuing shares as an incentive. These transactions were exempt from registration under the Securities Act.
Vivakor, Inc. announced that on March 17, 2025, it issued a junior secured convertible promissory note to J.J. Astor & Co. for a principal amount of $6,625,000, receiving $5,000,000 before fees. On September 29, 2025, the lender converted $700,000 of this note into 5,235,602 shares of Vivakor’s common stock. Previous conversions and share issuances did not exceed 5% of the company’s outstanding stock, and the shares were issued without a restrictive legend, exempt from registration under the Securities Act.
On or about September 17, 2025, Vivakor issued 720,072 shares of common stock to a lender, exempt from registration under Section 4(a)(2) of the Securities Act, as the holder is familiar with the company’s operations.