Key Highlights

  • Crescent Energy grew Revenue 56% to $1.35 billion but reported a $0.6 million net loss after a $405.8 million derivative loss.
  • Kosmos Energy cut its net loss to $43.0 million from $124.3 million despite a $133.9 million Derivatives loss.
  • Janus Living grew revenue 78% and FFO as adjusted 46% but posted a $5.6 million net loss.
  • Tempus AI grew revenue 23% to $411.5 million, narrowed its net loss to $14.9 million and posted $25.6 million of adjusted EBITDA.
  • Vitesse Energy grew revenue 23% to $83.0 million but reported a $36.4 million net loss on a $58.6 million derivative loss.

Which Companies Grew Revenue but Still Reported a Net Loss?

Five companies that reported around Nov 2, 2026 grew third-quarter revenue and still finished with a net loss. Crescent Energy (NYSE:CRGY) reported revenue of $1,351.2 million, up 56%, and a net loss of $0.6 million. Kosmos Energy (NYSE:KOS) reported total revenue of about $409.9 million, up 31.7% (calculated), and a net loss of $43.0 million. Janus Living (NYSE:JAN) reported revenue of $268.3 million, up 78.3% (calculated), and a net loss of $5.6 million.

Tempus AI (NASDAQ:TEM) reported revenue of $411.5 million, up from $334.2 million, and a net loss of $14.9 million. Vitesse Energy (NYSE:VTS) reported revenue of $83.0 million, up 23%, and a net loss of $36.4 million.

The causes vary. Derivative losses explain the three oil and gas producers, Depreciation after acquisitions explains Janus Living, and Tempus AI's loss narrowed partly on unrealized Equity gains. The loss sizes are measured against very different revenue bases.

Crescent Energy: How Did a $478.7 Million Operating Profit Become a Net Loss?

Crescent Energy's income from operations jumped to $478.7 million from $30.8 million, but a loss on derivatives of $405.8 million, compared with a gain of $55.7 million a year earlier, and interest expense of $94.2 million left a net loss of $0.6 million. The loss attributable to the company was $2.2 million, or $0.01 per share.

Oil revenue rose 75% to $1.04 billion on a 34% higher realized price of $84.52 per barrel and 30% higher volumes, mostly from a December 2025 merger. Adjusted EBITDAX increased 62% to $785.8 million.

On Oct 8, 2026 the company agreed to buy Eagle Ford Assets for about $4.2 billion in cash. Its quarterly Dividend is $0.12 per share. The article draws only on the quarterly filing, with no press release or call.

Kosmos Energy: Why Did Higher Revenue Still Leave a $43.0 Million Loss?

Kosmos Energy's net loss narrowed to $43.0 million, or $0.07 per share, from $124.3 million, or $0.26. Oil and gas revenue climbed 31.9% (calculated) to $410.1 million, and sales volumes rose to 62,437 barrels of oil equivalent per day despite a June 2026 asset sale. The filing attributes a $133.9 million derivatives loss to changes in the forward oil price curve.

Nine-month Operating Cash Flow reached $445.6 million, and net Debt fell to $2.47 billion, a 17.1% drop (calculated). Management expects about $300 million of free cash flow in 2026.

Guidance was maintained rather than changed, with cargo and production targets reiterated. Management flagged lower fourth-quarter production on maintenance and storm downtime.

Janus Living: Is Depreciation the Gap Between FFO and Earnings?

Janus Living grew revenue 78% to $268 million, adjusted EBITDAre 101% to $105 million and FFO as adjusted 46% to $0.25 per share. The net loss was $5.6 million, or $0.02 per share, as depreciation and amortization rose to $78.7 million from $30.9 million after a wave of senior housing acquisitions.

The senior housing real estate Investment trust acquired 33 communities for about $1.75 billion in the quarter and raised about $513 million of net proceeds in an August offering. It held $338 million of cash and no debt at Sep 30, 2026.

Guidance is mixed: FFO as adjusted rose to $0.97 to $0.99 per share, while diluted Earnings per share guidance fell to $0.08 to $0.10 from $0.34 to $0.37.

Tempus AI: How Much of the Narrower Loss Came From Equity Gains?

Tempus AI posted a net loss of $14.9 million, or $0.08 per share, compared with $80.0 million, or $0.46. The filing said a $44.0 million increase in unrealized gains on marketable equity securities drove much of the change. The loss from operations was $56.9 million versus $61.0 million.

Diagnostics revenue was $303.5 million, and data and applications revenue was $108.1 million. Adjusted EBITDA was $25.6 million versus $1.5 million, and management kept its adjusted EBITDA target of about $65 million.

It raised 2026 revenue guidance, but the new range is garbled in the transcript, so it is not stated here. A planned Acquisition at a $1.5 billion Enterprise value is expected to close in the fourth quarter.

Vitesse Energy: What Turned Rising Oil Prices Into a $36.4 Million Loss?

Vitesse Energy grew revenue 23% to $83.0 million as the average realized price before hedging rose 33%, though volumes slipped 7%. Net loss was $36.4 million, or $0.86 per share, versus $1.3 million a year earlier.

A Commodity derivative loss of $58.6 million, made up of an $11.9 million realized loss and a $46.6 million unrealized loss, was the main driver as the benchmark oil price rose from $69.50 to $90.42 per barrel. About 76% of oil volumes were hedged, leaving a realized oil price of $68.33 after hedging versus $82.56 before.

Operating cash flow was $39.4 million, and $190.5 million was outstanding on its Credit facility. No guidance was in the files.

Growth Without Profit Compared: Loss Margins, Derivative Losses and Growth Averages

Revenue growth across the five averaged about 42.4% (calculated), and their net losses totaled about $100.5 million (calculated). Loss as a share of revenue spanned roughly 0.04% at Crescent Energy to 43.9% at Vitesse Energy (both calculated).

The three producers booked derivative losses of $405.8 million, $133.9 million and $58.6 million, a combined $598.3 million (calculated). Those items sit against revenues of very different sizes, from $83.0 million at Vitesse Energy to $1,351.2 million at Crescent Energy.

Janus Living and Tempus AI are different cases, driven by depreciation and equity gains, so the group is a loose thematic fit.

What to Watch Next: Dividends, Votes and Deal Closings

Crescent Energy's $0.12 dividend is payable Nov 30, 2026 to holders of record on Nov 16, and its Eagle Ford purchase is expected to close in the fourth quarter of 2026 or early 2027. Tempus AI has a Shareholder meeting set for Nov 30, 2026. Vitesse Energy's $0.4375 dividend is payable Dec 31, 2026 to holders of record on Dec 15.

Janus Living pays monthly dividends on Nov 23 and Dec 29, 2026. Kosmos Energy's materials point to 2027 drilling, with no exact dates identified in its materials.