<span item_type="fundamental" item_id="f623c32e74a2b98e49f198968a4a76cd" counter_id="ETF/US/BNO" env="prod"></span><span item_type="announcement" item_id="580248909253513729" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 3.016 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.76.</p><p>EBIT: As of FY2025 Q3, the actual value is USD 2.351 M.</p><p></p><h3>Segment Revenue</h3><ul><li><strong>Total Income (Loss)</strong>: For the three months ended September 30, 2025, total income was $3,016,002, compared to a loss of - $22,009,901 for the same period in 2024. For the nine months ended September 30, 2025, total income was $2,248,606, compared to a loss of - $379,777 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Income (Loss)</strong>: For the three months ended September 30, 2025, net income was $2,703,365, compared to a loss of - $22,493,609 for the same period in 2024. For the nine months ended September 30, 2025, net income was $1,403,960, compared to a loss of - $1,644,068 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li><li><strong>Net Income (Loss) per Limited Partner Share</strong>: For the three months ended September 30, 2025, net income per share was $0.75, compared to a loss of - $3.89 for the same period in 2024. For the nine months ended September 30, 2025, net income per share was $0.43, compared to a loss of - $0.34 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Provided by (Used in) Operating Activities</strong>: For the nine months ended September 30, 2025, net cash provided by operating activities was $5,703,212, compared to $899,239 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li><li><strong>Net Cash Provided by (Used in) Financing Activities</strong>: For the nine months ended September 30, 2025, net cash used in financing activities was - $13,951,046, compared to $87,898,950 provided in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Average Daily Total Net Assets</strong>: For the nine months ended September 30, 2025, average daily total net assets were $97,744,421, compared to $146,982,835 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The United States Brent Oil Fund, LP (BNO) aims to closely track the daily changes in the price of the Benchmark Futures Contract, with a goal of maintaining the average daily percentage change in BNO’s NAV within plus/minus ten percent of the average daily percentage change in the price of the Benchmark Futures Contract over any 30 successive valuation days.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li><li><strong>Non-Core Business</strong>: BNO may invest in Other Crude Oil-Related Investments, such as OTC swaps, to comply with market conditions, regulatory requirements, and risk mitigation measures, which may result in increased transaction-related expenses and tracking error.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1472494/000110465925108402/bno-20250930x10q.htm"></span></li></ul>

Us Brent Oil | 10-Q: FY2025 Q3 Revenue: USD 3.016 M