Core Viewpoint - Robin Energy Ltd. has announced a one-for-five reverse stock split of its common shares, aimed at reducing the number of outstanding shares and potentially increasing the share price [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 11:59 pm Eastern Time on December 23, 2025, with trading on a split-adjusted basis starting on December 24, 2025 [2]. - The number of outstanding common shares will decrease from approximately 14.0 million to approximately 2.8 million as a result of the reverse stock split [3]. - No fractional shares will be issued; stockholders entitled to a fraction will receive a cash payment based on the closing price of the shares on December 23, 2025 [4]. Group 2: Shareholder Information - Stockholders with shares held in book-entry form or through a bank, broker, or other nominee will not need to take any action, as the effects of the reverse stock split will be reflected in their accounts after December 24, 2025 [5]. - The reverse stock split ratio has been approved by the board of directors and is within the range authorized by the stockholders [6]. Group 3: Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [7].

Core Viewpoint - Robin Energy Ltd. has announced a share repurchase program, allowing the company to buy back up to $1.0 million of its common shares, reflecting confidence in its financial position and market conditions [1][2]. Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [4]. Share Repurchase Program Details - The share repurchase may occur in open market or privately negotiated transactions, with the timing and price at the company's discretion, influenced by market conditions and other factors [2]. - As of December 16, 2025, the company had 14,028,731 common shares issued and outstanding [3].

Core Viewpoint - Costamare is identified as the stronger business compared to Robin Energy based on various financial metrics and analyst recommendations [7]. Group 1: Ownership and Institutional Support - 58.1% of Costamare shares are held by institutional investors, while 23.2% are held by company insiders, indicating strong institutional confidence in Costamare's long-term performance [1]. Group 2: Profitability Metrics - Costamare has a net margin of 22.23%, return on equity of 15.15%, and return on assets of 7.91%, while Robin Energy's profitability metrics are not available [2]. Group 3: Analyst Ratings - Costamare has a consensus rating score of 2.00, with 3 hold ratings and no buy or strong buy ratings, while Robin Energy has no ratings at all [4]. Group 4: Earnings and Valuation - Costamare's gross revenue is $2.08 billion, with a net income of $319.92 million and earnings per share of $2.50, compared to Robin Energy's gross revenue of $6.87 million, net income of $1.05 million, and earnings per share of $0.04 [6]. - Costamare's price-to-earnings ratio is 6.43, significantly lower than Robin Energy's 21.49, indicating that Costamare is more affordable [6]. Group 5: Summary of Comparison - Costamare outperforms Robin Energy in 10 out of 12 comparative factors, reinforcing its position as the more favorable investment option [7].

Core Viewpoint - Robin Energy Ltd. provides a commercial update on its vessel employment across LPG and tanker segments, highlighting strong charter contracts and improved market conditions for its fleet [1]. LPG Segment - The M/T Dream Terrax, a 2020-built LPG carrier, is under a time charter at a gross monthly rate of $345,000 until February 2026, increasing to $353,000 until January 2027, ensuring steady cash flow for 2026 [2]. - The M/T Dream Syrax, a 2015-built LPG carrier, operates under a time charter at a gross monthly rate of $353,000 until March 2026, contributing to contracted revenue exceeding $5.5 million, covering 59% of ownership days for 2026 [3]. Tanker Segment - The M/T Wonder Mimosa, a 2006-built Handysize tanker, has shown strong performance in a commercial pool, with a gross daily rate of $19,442 in November 2025, a 19% increase from October [4]. - The gross daily rates for the tanker segment have shown a positive trend: $14,871 in September 2025, $16,349 in October 2025, and $19,442 in November 2025, indicating the company's ability to leverage favorable market conditions [5]. Company Overview - Robin Energy Ltd. is an international ship-owning company specializing in energy transportation services, operating a fleet of two LPG carriers and one Handysize tanker [6].

Core Viewpoint - Robin Energy Ltd. has filed its financial results for the three and nine months ended September 30, 2025, with the U.S. Securities and Exchange Commission, indicating ongoing transparency and compliance with regulatory requirements [1]. Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally [2]. - The company's fleet includes two LPG carriers and one Handysize tanker vessel, which transport petrochemical gases and refined petroleum products worldwide [2].

Core Viewpoint - Robin Energy Ltd. has announced a securities purchase agreement to raise approximately $7.0 million through the sale of 6,540,000 common shares at an offering price of $1.07 per share [1][2]. Group 1: Offering Details - The offering is being conducted with a single institutional investor and is expected to close on or about October 27, 2025, pending customary closing conditions [2]. - Maxim Group LLC is acting as the sole placement agent for the offering [2]. - The proceeds from the offering will be used for working capital and general corporate purposes [2]. Group 2: Regulatory Information - The offering is made pursuant to an effective shelf registration statement on Form F-3, which was declared effective by the U.S. Securities and Exchange Commission on April 28, 2025 [3]. - A prospectus supplement related to the securities will be filed with the SEC, and copies will be available on the SEC's website [3]. Group 3: Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [5].

Financial Performance - Total vessel revenues for Q3 2025 reached $2.0 million, a 42.9% increase from $1.4 million in Q3 2024[2] - Net income for Q3 2025 was $0.2 million, compared to a net loss of $(0.1) million in Q3 2024, marking a 300.0% increase[2] - EBITDA for Q3 2025 was $0.5 million, up from $0.2 million in Q3 2024[2] - Total vessel revenues for the nine months ended September 30, 2025 were $5.6 million, slightly up from $5.5 million in the same period in 2024[8] - Net income for the nine months ended September 30, 2025 was $0.7 million, down from $1.2 million in the same period in 2024[8] - Total vessel revenues for Q3 2025 reached $1,962,635, a 36.2% increase from $1,441,204 in Q3 2024[28] - Net income for the nine months ended September 30, 2025, was $658,509, compared to $1,248,414 for the same period in 2024, reflecting a decrease of 47.3%[31] - Net income for Q3 2025 was $224,726, a significant recovery from a net loss of $113,826 in Q3 2024[34] - EBITDA for Q3 2025 was $496,375, up from $199,840 in Q3 2024, marking an increase of 148.5%[34] Cash and Assets - Cash position increased to $2.7 million as of September 30, 2025, from $0.01 million as of December 31, 2024[2] - Cash and cash equivalents increased to $2,660,266 as of September 30, 2025, compared to $369 at the beginning of the period[31] - Total assets increased to $53,580,941 as of September 30, 2025, compared to $21,581,980 at the end of 2024, reflecting a growth of 148.5%[30] Fleet and Operations - The fleet operated an average of 1.4 vessels in Q3 2025, earning a Daily TCE Rate of $14,647, compared to 1.0 vessel earning $17,722 in Q3 2024[17] - Daily Time Charter Equivalent (TCE) Rate for Q3 2025 was $14,622, down 17.5% from $17,722 in Q3 2024[28] - Fleet utilization remained at 100% for both Q3 2025 and Q3 2024, indicating consistent operational efficiency[28] - Daily vessel operating expenses for Q3 2025 were $6,211, compared to $6,441 in Q3 2024, showing a decrease of 3.6%[28] Investments and Acquisitions - The company acquired two LPG vessels, LPG Dream Syrax and LPG Dream Terrax, for $18.0 million and $20.0 million respectively, enhancing its fleet[2] - The company allocated $5 million to Bitcoin as part of its treasury strategy, reflecting a commitment to diversification[2] - Capitalized vessel improvements amounted to $38,090,000 in the nine months ended September 30, 2025, significantly higher than $70,220 in the same period of 2024[31] - The company completed a public offering in September 2025, raising approximately $8.6 million by issuing 6.6 million common shares[2] - The company issued common shares resulting in gross proceeds of $25,781,200 during the nine months ended September 30, 2025[31] Operational Insights - The company emphasizes the importance of EBITDA as a measure of operating performance, aiding in comparability across periods and with industry peers[33] - Future performance is subject to various uncertainties, including market conditions and operational risks associated with shipping[37] - The company is focusing on expanding its business in the tanker and liquefied petroleum gas shipping industry, indicating a strategic shift[37] Cash Flow - The company reported a net cash provided by operating activities of $12,233,002 for the nine months ended September 30, 2025, compared to $7,246,758 in 2024, an increase of 68.5%[31] - Depreciation and amortization expenses for Q3 2025 were $477,579, compared to $333,951 in Q3 2024, an increase of 42.9%[34] - TCE revenues for the nine months ended September 30, 2025, were $4,990,294, compared to $5,245,396 in the same period of 2024, reflecting a decrease of 4.9%[33]

Core Viewpoint - Robin Energy Ltd. reported significant financial improvements in Q3 2025, including increased revenues and net income, while also expanding its fleet through strategic acquisitions and maintaining a strong cash position [4][5][22]. Financial Performance - Total vessel revenues for Q3 2025 reached $2.0 million, a 42.9% increase from $1.4 million in Q3 2024 [5][22]. - Net income for Q3 2025 was $0.2 million, compared to a net loss of $(0.1) million in Q3 2024, marking a 300.0% increase [5][22]. - EBITDA for Q3 2025 was $0.5 million, up from $0.2 million in Q3 2024 [5][22]. - For the nine months ended September 30, 2025, total vessel revenues were $5.6 million, slightly higher than $5.5 million in the same period of 2024 [5][22]. Operational Highlights - The company acquired two LPG vessels, LPG Dream Syrax and LPG Dream Terrax, enhancing its operational capacity [4][5]. - The fleet's Available Days increased to 123 in Q3 2025 from 78 in Q3 2024, contributing to higher revenues [6][22]. - The Daily Time Charter Equivalent (TCE) Rate averaged $14,647 in Q3 2025, down from $17,722 in Q3 2024 [6][22]. Cash Flow and Liquidity - Cash position improved to $2.7 million as of September 30, 2025, from $0.01 million at the end of 2024 [5][15]. - The company generated $12.2 million in net operating cash flows during the nine months ended September 30, 2025 [15][32]. - Significant cash outflows were noted for vessel acquisitions totaling $38.1 million and Bitcoin allocations of $5 million [15][32]. Shareholder Information - The company completed a public offering in September 2025, raising approximately $8.6 million through the issuance of 6.6 million common shares [5][15]. - As of October 23, 2025, there were 12,628,731 common shares outstanding [14][15].

Financial Performance - Net income for the six months ended June 30, 2025, was $433,783, a decrease of 68% compared to $1,362,240 for the same period in 2024[6] - Operating income fell from $1,392,780 in 2024 to $270,732 in 2025, a decline of about 80%[6] - Earnings per common share decreased from $0.57 in 2024 to $0.13 in 2025, a decline of approximately 77%[6] - Basic earnings per common share for the six months ended June 30, 2025, were $0.13, down from $0.57 in the same period of 2024[59] - Diluted earnings per common share for the six months ended June 30, 2025, were $0.03, compared to $0.09 in 2024[59] Revenue and Expenses - Total vessel revenues decreased from $4,019,697 in the first half of 2024 to $3,598,828 in the first half of 2025, reflecting a decline of approximately 10.5%[6] - Total vessel operating expenses for the six months ended June 30, 2025, were $1,238,068, compared to $1,135,874 in 2024, indicating an increase of approximately 9.0%[61] - The operating loss for the tanker segment increased significantly to $(2,571,673) in the six months ended June 30, 2025, compared to an operating profit of $2,074,385 in the same period of 2024[64] Assets and Liabilities - Total assets increased from $21.58 million as of December 31, 2024, to $48.60 million as of June 30, 2025, representing a growth of 125%[4] - Total current liabilities increased from $470,158 to $2,254,012, marking an increase of approximately 378%[4] Cash Flow and Liquidity - Cash and cash equivalents surged from $369 to $39,407,386, indicating a significant increase in liquidity[10] - The company reported a net cash provided by operating activities of $13,066,520 for the six months ended June 30, 2025, compared to $7,700,485 in 2024, an increase of approximately 69%[10] Share Issuance and Preferred Shares - The issuance of common shares pursuant to registered direct offerings generated gross proceeds of $17,157,000 in 2025[10] - The Company issued 2,000,000 Series A Preferred Shares to Toro with a stated amount of $25 per share, resulting in an accrued dividend of $105,555 as of June 30, 2025[35] - The Company issued 2,000,000 Series A Preferred Shares with a par value of $0.001 and a stated value of $25 each as part of the Spin-Off to Toro[47] Spin-Off and Subsidiaries - Robin Energy Ltd. was formed on September 24, 2024, as a wholly owned subsidiary of Toro Corp, and completed its Spin-Off on April 14, 2025, with Toro contributing $10,356,450 in cash for working capital[12] - The Spin-Off involved the distribution of 2,386,731 common shares of Robin to Toro shareholders at a ratio of one Robin share for every eight Toro shares[12] - Robin's consolidated financial statements include the accounts of its wholly owned subsidiaries, reflecting the historical carrying costs of the assets and liabilities from their incorporation dates[14] Corporate Governance and Management - Castor Ships S.A., controlled by Robin's CEO, provided ship management and chartering services to the company's subsidiaries, charging a daily fee of $250 per vessel and commissions of 1.25% on charter agreements and 1% on vessel transactions[27] Other Financial Metrics - Interest income for the six months ended June 30, 2025, was reported at $169,895, compared to no interest income in the previous year[64] - Foreign exchange losses amounted to $(822) for the six months ended June 30, 2025, contrasting with a gain of $89 in the same period of 2024[64] - Unallocated corporate general and administrative expenses increased to $(756,423) in the six months ended June 30, 2025, from $(681,605) in the same period of 2024[64]

Core Insights - Robin Energy Ltd. reported its financial results for the second quarter and the first half of 2025, highlighting significant growth in revenues and net income compared to the same periods in 2024 [1][2][4]. Financial Performance - Total vessel revenues for Q2 2025 reached $2.0 million, a 33.3% increase from $1.5 million in Q2 2024 [6]. - Net income for Q2 2025 was $0.5 million, reflecting a 150.0% increase from $0.2 million in Q2 2024 [6]. - Earnings per common share for Q2 2025 were $0.15, up from $0.08 in Q2 2024 [6]. - EBITDA for Q2 2025 was $0.7 million, compared to $0.4 million in Q2 2024 [6]. - For the first half of 2025, total vessel revenues were $3.6 million, down from $4.0 million in the same period of 2024 [6]. - Net income for the first half of 2025 was $0.4 million, down from $1.4 million in the first half of 2024 [6]. - Earnings per common share for the first half of 2025 were $0.13, compared to $0.57 in the first half of 2024 [6]. - EBITDA for the first half of 2025 was $1.0 million, down from $1.9 million in the first half of 2024 [6]. Operational Highlights - The company operated an average of 1.0 vessel in Q2 2025, with a Daily TCE Rate of $20,054, compared to $21,964 in Q2 2024 [24][30]. - Available Days for the tanker vessel increased to 91 days in Q2 2025 from 65 days in Q2 2024, contributing to the revenue growth [5][30]. - The company maintained a debt-free balance sheet and had cash reserves of $39.4 million as of June 30, 2025, a significant increase from $0.01 million at the end of 2024 [6][19]. Strategic Developments - The company completed a spin-off from Toro Corp. on April 14, 2025, and began trading on Nasdaq under the symbol "RBNE" on April 15, 2025 [6][12]. - Management adopted a Bitcoin treasury strategy, allocating $5 million to Bitcoin as a primary treasury reserve asset [20]. - The company acquired two LPG vessels, effectively tripling its fleet size [4][21][22]. Recent Equity Offerings - In June 2025, the company completed four registered direct equity offerings, raising approximately $17.2 million by issuing 3.6 million common shares [6][13][14][15][16]. - On September 12, 2025, the company conducted a public offering, raising approximately $8.6 million [17].