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SYNTAX.ENERGY
Syntax Energy Co. / Corporate

Investor relations · Quarterly results

Earnings.

Results are reported in thousands of simulated US dollars. They are internally consistent, externally meaningless, and audited by the person who wrote them.

Simulated corporate data · Not financial information

Q3 FY2026 · July to September 2026 · Published

Executive summary

Syntax Energy announces a record-breaking quarter despite 18% operational efficiency. The record was revenue. The other record was everything else.

Key observations

  1. 01Operating margin held positive, which analysts attributed to the price of offsets rather than anything operational.
  2. 02For the first time, incident-related expenditure exceeded the cost of preventing the incidents, as estimated by an intern.
  3. 03Executive compensation reached a new high, consistent with the alignment bonus and the number of things that needed aligning.
Revenue
$7.25M
+21.4% vs prior, favourable
Operating result
$1.19M
-8.5% vs prior, unfavourable
Grid uptime
95.8%
-1.3 pts vs prior, unfavourable
Incidents
117
+31.5% vs prior, unfavourable
Incident spend
$1.69M
+34.1% vs prior, unfavourable
Executive comp
$5.88M
+23.5% vs prior, unfavourable

Trend · four quarters

Revenue

Up every quarter

$3.43M
$4.72M
$5.97M
$7.25M

Incidents

Also up every quarter

38
61
89
117

Executive compensation

$1.20M base plus $40k per incident

$2.72M
$3.64M
$4.76M
$5.88M

Operational efficiency

Share of computation that needed to happen

41%
33%
24%
18%

Statement of operations · Q3 FY2026 · $k

Simulated statement of operations for Q3 FY2026, in thousands of US dollars
Imaginary computation offsets4,120
Offset certificates480
Syntax futures spread930
Enterprise retainers1,720
Total revenue7,250
Unnecessary rebuilds (131,900 at $11 each)(1,451)
Incident-related expenditure(1,690)
AI typo correction compute(1,110)
Other operating costs(1,810)
Total operating costs(6,061)
Operating result1,189

Operating margin 16.4%. Executive compensation of $5.88M is reported separately, which is also what the executives prefer.

Simulated corporate data. Syntax Energy Co. is satire. No figure here is real financial information.