• Matador Resources average gross margin for 2023 was 81.1%, a 0.83% increase from 2022.
• Matador Resources average gross margin for 2022 was 81.78%, a 2.87% decline from 2021.
• Matador Resources average gross margin for 2021 was 79.5%, a 1.36% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.