Natural Gas, Ngls & Condensate Sales was Kinetik Holdings’s largest product and service line in fiscal 2025, bringing in $2.61B of $7.08B (37%).
| Product and Service | FY 2017 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Natural Gas, Ngls & Condensate Sales | $1.61B | $1.64B | $2.13B | $2.61B | ||
| Product Revenue | $1.61B | $1.64B | $2.13B | $2.61B | ||
| Gathering & Processing Services | $787.91M | $835.50M | $816.00M | $890.99M | ||
| Service Revenue | $787.91M | $835.50M | $816.00M | $890.99M | ||
| Other Revenue | $52.72M | $59.19M | $47.19M | $46.64M | ||
| Gas Processing | — | — | — | — | ||
| Product & Service | $3.67M | $7.71M | $18.18M | $19.11M | ||
| Transmission | — | — | — | — | ||
| Minimum Volume Commitments | $8.00M | $3.20M | $200.00K | $4.00M | ||
| Gas Gathering & Compression | — | — | — | — | ||
| Total | $4.87B | $5.03B | $5.95B | $7.08B |
Kinetik Holdings brought in $7.08B from its seven product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 19.0% from $5.95B in fiscal 2024. Natural Gas, Ngls & Condensate Sales was the largest at $2.61B (36.9%), ahead of Product Revenue at $2.61B (36.9%) and Gathering & Processing Services at $890.99M (12.6%). The other four lines brought in $960.74M combined.
Compared with fiscal 2024, Natural Gas, Ngls & Condensate Sales grew fastest, up 23.0% to $2.61B. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $4.87B to $7.08B, a compound annual growth rate of 13.3%. Natural Gas, Ngls & Condensate Sales' share of the total rose from 33.1% to 36.9%.
Others was Kinetik Holdings’s largest revenue line in fiscal 2025, bringing in $1.35B of $3.53B (38%).
| Concentration Risk Benchmark | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Others | $1.21B | $1.08B | $852.21M | $1.35B | ||
| Customer 1 | $142.11M | $556.82M | $670.21M | $937.35M | ||
| Customer 2 | $422.19M | $466.22M | $697.54M | $658.18M | ||
| Customer 3 | $653.80M | $410.16M | $745.90M | $585.14M | ||
| Customer 4 | — | — | — | — | ||
| Customer 5 | — | — | — | — | ||
| Total | $2.43B | $2.51B | $2.97B | $3.53B |
Kinetik Holdings brought in $3.53B from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $7.08B it reports by product and service, so these revenue lines do not cover all of its revenue. Others was the largest at $1.35B (38.2%), ahead of Customer 1 at $937.35M (26.6%) and Customer 2 at $658.18M (18.7%). The remaining revenue line, Customer 3, brought in $585.14M.
Compared with fiscal 2024, Others grew fastest, up 58.2% to $1.35B, while Customer 3 fell the most, down 21.6% to $585.14M.
Operating Segments was Kinetik Holdings’s largest segment in fiscal 2025, bringing in $3.49B of $3.51B (99%).
| Segment | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Operating Segments | $2.40B | $2.47B | $2.92B | $3.49B | |
| Consolidated | — | — | — | — | |
| Elimination | — | $0 | $0 | $19.12M | |
| Total | $2.40B | $2.47B | $2.92B | $3.51B |
Kinetik Holdings brought in $3.51B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $7.08B it reports by product and service, so these segments do not cover all of its revenue. Operating Segments was the largest at $3.49B (99.5%), ahead of Elimination at $19.12M (0.5%).
Kinetik Holdings began breaking out Elimination in fiscal 2023, when it brought in $0.
Kinetik Holdings (KNTK) reports its revenue by product and service, by concentration risk benchmark and by segment. In fiscal 2025, Natural Gas, Ngls & Condensate Sales was its largest product and service line, bringing in $2.61B (36.9% of the total), followed by Product Revenue at $2.61B (36.9%).
Natural Gas, Ngls & Condensate Sales was Kinetik Holdings' largest product and service line in fiscal 2025, bringing in $2.61B, or 36.9% of the $7.08B total across its seven product and service lines.
Others was Kinetik Holdings' largest revenue line in fiscal 2025, bringing in $1.35B, or 38.2% of the $3.53B total across its four revenue lines.
Operating Segments was Kinetik Holdings' largest segment in fiscal 2025, bringing in $3.49B, or 99.5% of the $3.51B total across its two segments.
Among Kinetik Holdings' product and service lines that make up at least 2% of revenue, Natural Gas, Ngls & Condensate Sales grew fastest in fiscal 2025, up 23.0% from $2.13B to $2.61B.
Every figure comes from Kinetik Holdings' annual financial filings, as reported. Each line keeps the name Kinetik Holdings gives it, and years follow its fiscal calendar.
Kinetik Holdings' revenue by product and service goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.