How did Comstock's revenue and expenses shift in Q4 2024?

Comstock Resources faced significant challenges in Q4 2024, as evidenced by its financial performance and operational metrics. The company's revenue and expenses shifted in ways that reflect the prevailing market conditions and business strategies. Here's a detailed analysis: 1. **Revenue Decline**: Comstock Resources reported a revenue of $246.80 million for Q4 2024. This figure suggests a decline from the previous quarter's revenue of $304.50 million reported in Q3 2024. The decrease in revenue can be attributed to weak natural gas prices, which have been a significant factor affecting Comstock's financial results. 2. **Cost of Sales and Operating Expenses**: The company's cost of sales and operating expenses are not explicitly detailed in the available data. However, the overall financial performance indicators, such as the negative net margin of 1.48% and a negative return on equity of 1.38%, provide insights into the inefficiencies and the challenges faced during this period. 3. **Research and Development Expenses**: There is no specific information regarding the research and development expenses of Comstock Resources for Q4 2024. However, the company's focus on exploration and production activities, especially in the Haynesville shale play, indicates that a significant portion of the expenses might have been related to drilling and well completion costs. 4. **Depreciation and Amortization Expenses**: The impact of depreciation and amortization expenses is not detailed separately. However, these expenses are inherent in the oil and gas industry, particularly for companies engaged in exploration and production activities. The costs associated with depleting natural gas and oil reserves, as well as asset depreciation, would typically be reflected in the financial statements under various expense categories. In conclusion, Comstock Resources experienced a decline in revenue and profitability in Q4 2024, primarily due to weak natural gas prices and operational challenges. The company's expenses, including those related to sales, operating activities, and asset maintenance, likely contributed to the overall financial performance, although specific details are not available.