What is Northern Oil and Gas's purchase of capped call?

Northern Oil and Gas (NOG) reported purchase of capped call of $4.24M in Q4 2025.

What does purchase of capped call mean?

This represents the cash expenditure for purchasing capped call options, typically used as part of a convertible note hedging strategy to mitigate potential dilution. It reflects the company's efforts to manage equity-linked financing costs and protect shareholder value during capital raises. Investors monitor this to understand the cost of hedging complex financial instruments.

Northern Oil and Gas NOG Purchase Of Capped Call

Purchase Of Capped Call at other companies

Hannon Armstrong Sustainable Infrastructure CapitalHASI

$0—

KEE

Keel Infrastructure Corp. Common StockKEEL

$17.27M—

Solaris Energy InfrastructureSEI

$16.4M—

KEE

Keel Infrastructure Corp. Common StockKEEL

$17.27M—

CoreWeave, Inc. CRWV

$85M—

GlaukosGKOS

$73.75K—

Other financials

Income statement

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Revenue$5.0M-99.2%

Gross profit-$124.7M-126%

Operating income-$654.9M-386%

Net income-$522.8M-476%

EPS (diluted)-$5.31-482%

Balance sheet

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Cash & equivalents$37.0M+10.3%

Total debt$2.6B+10.4%

Total equity$1.8B-25.7%

Total assets$5.5B-2.8%

Cash flow

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Operating cash flow$323.6M-20.6%

CapEx$55.0K-90.6%

Free cash flow$323.6M-20.5%

Valuation

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Market cap$2.11B+1.9%

Enterprise value$4.63B+5.6%

P/S1.1×+0.3×

Profitability

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Gross margin74%-8.0pp

Operating margin17.3%-30.2pp

Net margin7.6%-25.8pp

FCF margin75.7%+17.1pp

Returns & leverage

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Return on equity8%-37.1pp

Debt / equity1.4×+0.5×

Current ratio0.5×-0.4×

Where this comes from

Reported directly by Northern Oil and Gas in its filing.

Tagged under the XBRL concept nog:PurchaseOfCappedCall.

The official record: Northern Oil and Gas’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northern Oil and Gas's purchase of capped call?: Northern Oil and Gas (NOG) reported purchase of capped call of $4.24M in Q4 2025.
What does purchase of capped call mean?: This represents the cash expenditure for purchasing capped call options, typically used as part of a convertible note hedging strategy to mitigate potential dilution. It reflects the company's efforts to manage equity-linked financing costs and protect shareholder value during capital raises. Investors monitor this to understand the cost of hedging complex financial instruments.