Exhibit 99.1 STABILIS SOLUTIONS ANNOUNCES STRONG FIRST QUARTER 2024 RESULTS Houston, May 7, 2024 — Stabilis Solutions, Inc., ("Stabilis" or the "Company") (Nasdaq: SLNG), a leading provider of clean fueling, production, storage, and last mile delivery solutions for many of the world's most recognized, high-performance brands, today announced financial results for the first quarter ended March 31, 2024. FIRST QUARTER PERFORMANCE HIGHLIGHTS MANAGEMENT COMMENTARY "We delivered a strong first quarter performanc ...

Stabilis Solutions, Inc. (NASDAQ:SLNG) Q4 2023 Results Conference Call March 7, 2024 9:00 AM ET Company Participants Westy Ballard - President, CEO Andy Puhala - SVP, CFO Conference Call Participants Martin Malloy - Johnson Rice Barry Haimes - Sage Asset Management Bill Dezellem - Titan Capital Operator Welcome to the Stabilis Solutions Fourth Quarter and Full Year 2023 Results Conference Call. [Operator Instructions]. I would now like to turn the call over to Andy Puhala, Chief Financial Officer. Mr. Puha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40364 STABILIS SOLUTIONS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

STABILIS SOLUTIONS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS Houston, March 6, 2024 — Stabilis Solutions, Inc., ("Stabilis" or the "Company") (Nasdaq: SLNG), a leading provider of clean energy production, storage, and delivery solutions to multiple end markets, today announced financial results for the fourth quarter and full year ended December 31, 2023. Exhibit 99.1 ● Generated positive fourth quarter and full-year net income ● Delivered $6.7 million of cash flow from operations in full year 202 ...

Stabilis Solutions, Inc. (NASDAQ:SLNG) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET Company Participants Andrew Puhala - Senior Vice President and Chief Financial Officer Westervelt Ballard - President and Chief Executive Officer Conference Call Participants Martin Malloy - Johnson Rice Jeffrey Grampp - Alliance Global Partners Barry Haimes - Sage Asset Management Operator Welcome to the Stabilis Solutions Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number. 001-40364 STABILIS SOLUTIONS, INC. (Exact name of registrant as specified in its charter) Florida 59-3410234 (State or other ju ...

Financial Data and Key Metrics Changes - For Q2 2023, Stabilis reported a net loss of $2.2 million on total revenue of $12.9 million, compared to a net loss of $2.2 million on revenue of $23.2 million in Q2 2022 and a net income of $1.1 million on revenue of $26.8 million in Q1 2023 [19][20] - Adjusted EBITDA was a loss of $0.1 million in Q2 2023, down from a profit of $1.4 million in Q2 2022 and $3.5 million in Q1 2023 [20][21] - The weighted average cost of gas was $2.60 per MMBtu during Q2 2023, significantly lower than $7.05 during the same quarter last year [20] Business Line Data and Key Metrics Changes - Marine revenue increased to more than $16 million, representing 21% of total revenue, up from 5% in the prior year period [14] - The decline in revenue was attributed to lower pass-through natural gas prices and changes in feed gas composition at the George West plant, which reduced revenue by $1.4 million [21][23] Market Data and Key Metrics Changes - The U.S. is positioned to become a leader in LNG vessel fueling due to an abundance of inexpensive shale gas, with expectations for the addressable market to scale to over 380 ships by 2024, up from less than 70 in 2021 [6] Company Strategy and Development Direction - The company aims to protect and optimize its core industrial business while accelerating growth in marine vessel bunkering and export demand cycles [13] - Stabilis is focused on leveraging its business model to expand and optimize its portfolio of owned and third-party assets for long-term growth [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in resolving issues at the George West facility, which had a $1.2 million EBITDA drag in Q2 2023, and expects production to return to historic levels [32] - The company is optimistic about potential contracts that could improve performance in the second half of the year, although specific guidance was not provided [32] Other Important Information - Stabilis generated $3.8 million of operating cash flow in Q2 2023 and ended the quarter with total cash and equivalents of $8.1 million [17][28] - The company arranged a new $10 million secured revolving credit facility, enhancing liquidity and operational flexibility [26][27] Q&A Session Summary Question: Expectations for profitability in the second half of the year - Management indicated confidence in resolving issues at the George West facility and expects production to return to historic levels, which could improve EBITDA significantly [32] Question: Potential milestones for growth platforms - Key milestones include capital expenditures and contract awards, with management optimistic about upcoming contracts that could support capital investments [34][35] Question: Update on the space market and export license plans - The space market is seen as exciting but currently lumpy, while management is bullish on export opportunities, particularly in Europe, despite current inventory levels [58][60]

"Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number. 001-40364 STABILIS SOLUTIONS, INC. (Exact name of registrant as specified in its charter) Florida 59-3410234 (State or other jurisdic ...

Financial Data and Key Metrics Changes - The company reported revenues of $26.8 million for Q1 2023, which is 32% higher than the same quarter last year but down 9% from Q4 2022 [119] - Net income from continuing operations was $1.1 million in the quarter compared to a net loss of $0.4 million in the year-ago quarter [26] - Adjusted EBITDA for the quarter was $3.5 million, up from $2 million in the year-ago quarter but down from $3.9 million in Q4 2022 [26] Business Line Data and Key Metrics Changes - The marine business contributed approximately 28% of total revenue for the quarter, a significant increase from 4% in Q1 2022 [22] - The industrial business showed strong demand across multiple sectors, particularly in oil and gas, agriculture, and remote power [108] - Aerospace revenue accounted for a little over 5% of total revenue, down about 300 basis points compared to the first quarter of last year [129] Market Data and Key Metrics Changes - The U.S. LNG bunkering market is still in its early stages but is expected to grow significantly due to the International Maritime Organization's mandate to lower sulfur emissions [110] - The company is positioned to capitalize on the increasing demand for LNG as a cleaner fuel alternative, especially in the maritime industry [109] Company Strategy and Development Direction - The company is exploring brown and greenfield expansion opportunities across various U.S. geographies, not limited to the Gulf of Mexico [15] - There is a focus on expanding liquefaction capacity and infrastructure to meet anticipated demand while ensuring capital is deployed thoughtfully [124] - The company aims to expand its offerings into additional clean emerging fuels, indicating a long-term growth strategy [113] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute growth initiatives, citing sufficient liquidity and access to various capital sources [11] - The management acknowledged that the marine business may experience uneven results in the near term as vessel operators finalize their fueling strategies [122] - There is optimism regarding the export business, with the potential for significant volumes as geopolitical factors and natural gas prices evolve [24] Other Important Information - The company has made considerable investments in liquefaction, bunkering, and storage assets to support anticipated growth [11] - The company is well-positioned to be a premier bunkering hub in the U.S. due to favorable competitive positioning in natural gas [116] Q&A Session Summary Question: What caused the uneven results in projects? - Management indicated that the uneven results are due to additional expenses incurred as projects come online and the foundational work being laid for future growth [28] Question: Is bunkering profitable yet? - Management confirmed that bunkering is profitable today and aims to continue this trend as the business scales [16] Question: What percentage of revenues came from aerospace during the quarter? - Aerospace accounted for a little over 5% of total revenues, down about 300 basis points from the previous year [129] Question: How many new ships are expected in the market next year? - Management noted that the number of LNG-fueled vessels is expected to grow significantly, with a sevenfold increase anticipated over the next four years [63] Question: How does the company view the regulatory environment around IMO 2020? - Management acknowledged that while shipping companies should have reacted sooner to the regulations, the reality is that many are now beginning to make the necessary transitions [40]

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=Part%20I.%20Financial%20Information) This part provides the unaudited financial statements and management's discussion and analysis for Q1 2023 [ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) This section presents Stabilis Solutions, Inc.'s unaudited condensed consolidated financial statements and detailed notes for Q1 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides a snapshot of the company's financial position at March 31, 2023, and December 31, 2022 Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | Cash and cash equivalents | $6,861 | $11,451 | | Total current assets | $18,029 | $32,217 | | Property, plant and equipment, net| $51,929 | $47,669 | | Total assets | $86,927 | $96,580 | | Total current liabilities | $16,338 | $27,532 | | Total liabilities | $25,200 | $36,713 | | Total stockholders' equity | $61,727 | $59,867 | - Total assets decreased by approximately **$9.65 million** from December 31, 2022, to March 31, 2023, primarily driven by a decrease in current assets, including cash and accounts receivable[12](index=12&type=chunk) - Total liabilities decreased by approximately **$11.51 million**, mainly due to a reduction in current liabilities such as accounts payable and accrued liabilities[12](index=12&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section details the company's financial performance, including revenues, expenses, and net income (loss) for Q1 2023 and 2022 Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Revenues | $26,842 | $20,267 | | Total operating expenses | $25,829 | $20,632 | | Income (loss) from operations | $1,358 | $(278) | | Net income (loss) from continuing operations| $1,084 | $(359) | | Net income (loss) | $1,084 | $(406) | | Basic net income (loss) per common share | $0.06 | $(0.02) | | Diluted net income (loss) per common share | $0.06 | $(0.02) | - Revenues increased by **$6.575 million (32.4%)** year-over-year[15](index=15&type=chunk) - The company reported a net income of **$1.084 million** for the current quarter, a significant improvement from a net loss of **$0.406 million** in the prior year quarter[15](index=15&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) This section presents total comprehensive income (loss), including net income and other comprehensive income items, for Q1 2023 and 2022 Condensed Consolidated Statements of Comprehensive Income (Loss) Highlights (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net income (loss) | $1,084 | $(406) | | Foreign currency translation adjustment, net of tax | $187 | $377 | | Total comprehensive income (loss) | $1,271 | $(29) | - Total comprehensive income for the three months ended March 31, 2023, was **$1.271 million**, a substantial increase from a comprehensive loss of **$0.029 million** in the prior year quarter[17](index=17&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%27%20Equity) This section outlines changes in stockholders' equity, including common stock, additional paid-in capital, and accumulated deficit, for the period ended March 31, 2023 Condensed Consolidated Statements of Stockholders' Equity Highlights (in thousands, except share data) | Metric | Balance at Dec 31, 2022 | Balance at Mar 31, 2023 | | :-------------------------------- | :---------------------- | :---------------------- | | Common Stock (Shares) | 18,420,067 | 18,433,654 | | Common Stock (Amount) | $19 | $19 | | Additional Paid-in Capital | $100,137 | $100,726 | | Accumulated Other Comprehensive Income | $82 | $269 | | Accumulated Deficit | $(40,371) | $(39,287) | | Total Stockholders' Equity | $59,867 | $61,727 | - Total stockholders' equity increased by **$1.86 million** from December 31, 2022, to March 31, 2023, primarily due to net income and other comprehensive income[20](index=20&type=chunk) - **13,587 shares** of common stock were issued from the vesting of stock-based awards during the three months ended March 31, 2023[20](index=20&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section details cash inflows and outflows from operating, investing, and financing activities for Q1 2023 and 2022 Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net cash provided by operating activities | $93 | $3,155 | | Net cash used in investing activities | $(3,727) | $(818) | | Net cash used in financing activities | $(961) | $(1,132) | | Net increase (decrease) in cash and cash equivalents | $(4,590) | $1,202 | | Cash and cash equivalents, end of period | $6,861 | $2,112 | - Net cash provided by operating activities significantly decreased to **$0.093 million** in Q1 2023 from **$3.155 million** in Q1 2022, primarily due to higher net working capital requirements[23](index=23&type=chunk)[100](index=100&type=chunk) - Net cash used in investing activities increased to **$3.727 million** in Q1 2023 from **$0.818 million** in Q1 2022, mainly due to increased acquisition of fixed assets[23](index=23&type=chunk)[101](index=101&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements, covering business operations, accounting policies, and specific financial line items [Note 1. Description of Business and Basis of Presentation](index=9&type=section&id=1.%20DESCRIPTION%20OF%20BUSINESS%20AND%20BASIS%20OF%20PRESENTATION) This note describes Stabilis Solutions, Inc.'s core business as an energy transition company and the basis for presenting its financial statements - Stabilis Solutions, Inc. is an energy transition company providing turnkey clean energy production, storage, transportation, and fueling solutions primarily using liquefied natural gas (LNG) to diverse end markets[24](index=24&type=chunk)[25](index=25&type=chunk) - The company also holds a **40% equity investment** in BOMAY Electric Industries, Inc., a Chinese joint venture building power and control systems for the energy industry[26](index=26&type=chunk) - The Brazil Operations were sold on October 31, 2022, and are classified as discontinued operations, with retrospective application to prior periods[29](index=29&type=chunk) [Note 2. Discontinued Operations](index=10&type=section&id=2.%20DISCONTINUED%20OPERATIONS) This note details the financial impact and classification of the Brazil Operations as discontinued following their sale in October 2022 - The sale of Brazil Operations on October 31, 2022, met the criteria for discontinued operations, representing a strategic shift[33](index=33&type=chunk) Loss from Discontinued Operations (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Revenue | $— | $2,766 | | Loss from discontinued operations, net of income taxes | $— | $(47) | - There were no assets, liabilities, results of operations, or cash flows from discontinued operations for the three months ended March 31, 2023[34](index=34&type=chunk) [Note 3. Revenue Recognition](index=11&type=section&id=3.%20REVENUE%20RECOGNITION) This note explains the company's policies for recognizing revenue from various sources, including LNG product, rental, and service activities - Revenues are recognized when promised goods or services are delivered, measured as consideration specified in the contract[37](index=37&type=chunk) - Revenue sources include LNG product, rental, service, and other, with specific recognition criteria for each[37](index=37&type=chunk)[38](index=38&type=chunk)[39](index=39&type=chunk) Disaggregated Revenues by Source (in thousands) | Revenue Source | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--------------- | :-------------------------------- | :-------------------------------- | | LNG Product | $21,905 | $16,785 | | Rental | $2,247 | $1,986 | | Service | $2,066 | $1,395 | | Other | $624 | $101 | | Total revenues | $26,842 | $20,267 | Disaggregated Revenues by Geographic Location (in thousands) | Geographic Location | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------ | :-------------------------------- | :-------------------------------- | | Mexico | $2,819 | $3,766 | | United States | $24,023 | $16,501 | | Total revenues | $26,842 | $20,267 | [Note 4. Derivative Instruments](index=12&type=section&id=4.%20DERIVATIVE%20INSTRUMENTS) This note describes the company's use of natural gas call options to manage price risk and their fair value on the balance sheet - The Company held natural gas call options totaling **1.1 million MMBtu** as of March 31, 2023, to manage the risk of increasing natural gas prices[44](index=44&type=chunk) Fair Value of Natural Gas Derivatives (in thousands) | Location on Balance Sheet | March 31, 2023 | December 31, 2022 | | :------------------------ | :------------- | :---------------- | | Prepaid expenses and other current assets | $138 | $347 | | Right-of-use assets and other noncurrent assets | $13 | $225 | | Total | $151 | $572 | - An unrealized loss of **$0.169 million** on natural gas derivatives was incurred in Q1 2023 due to lower future natural gas prices, compared to no derivatives in Q1 2022[46](index=46&type=chunk)[47](index=47&type=chunk) [Note 5. Prepaid Expenses and Other Current Assets](index=13&type=section&id=5.%20PREPAID%20EXPENSES%20AND%20OTHER%20CURRENT%20ASSETS) This note details the composition and changes in prepaid expenses and other current assets, including natural gas derivatives Prepaid Expenses and Other Current Assets (in thousands) | Item | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | Prepaid insurance | $712 | $990 | | Prepaid supplier expenses | $232 | $286 | | Other receivables | $103 | $254 | | Natural gas derivatives at fair value, current | $138 | $347 | | Deposits | $203 | $236 | | Other | $14 | $73 | | Total prepaid expenses and other current assets | $1,402 | $2,186 | - Total prepaid expenses and other current assets decreased from **$2.186 million** at December 31, 2022, to **$1.402 million** at March 31, 2023[49](index=49&type=chunk) [Note 6. Property, Plant and Equipment](index=13&type=section&id=6.%20PROPERTY%2C%20PLANT%20AND%20EQUIPMENT) This note provides a breakdown of property, plant, and equipment, including liquefaction plants, vehicles, and construction in progress Property, Plant and Equipment, Net (in thousands) | Item | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | Liquefaction plants and systems | $47,645 | $47,636 | | Vehicles and tanker trailers and equipment | $52,936 | $52,647 | | Construction in progress | $6,516 | $527 | | Total cost | $109,651 | $103,368 | | Less: accumulated depreciation | $(57,722) | $(55,699) | | Net property, plant and equipment | $51,929 | $47,669 | - Net property, plant and equipment increased by **$4.26 million** from December 31, 2022, to March 31, 2023, primarily due to an increase in construction in progress[50](index=50&type=chunk) - Depreciation expense was **$2.0 million** for Q1 2023, down from **$2.3 million** in Q1 2022[50](index=50&type=chunk) [Note 7. Investment in Foreign Joint Venture](index=13&type=section&id=7.%20INVESTMENT%20IN%20FOREIGN%20JOINT%20VENTURE) This note details the company's **40% equity investment** in BOMAY Electric Industries, Inc., a Chinese joint venture, and its operational results - The Company holds a **40% interest** in BOMAY Electric Industries, Inc., a Chinese joint venture that builds electrical systems[51](index=51&type=chunk) BOMAY's Operational Results (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------- | :-------------------------------- | :-------------------------------- | | Revenue | $21,214 | $10,079 | | Earnings | $901 | $323 | - The Company's equity in earnings from the foreign joint venture was **$0.393 million** in Q1 2023, up from **$0.161 million** in Q1 2022[15](index=15&type=chunk)[54](index=54&type=chunk) [Note 8. Accrued Liabilities](index=15&type=section&id=8.%20ACCRUED%20LIABILITIES) This note provides a breakdown of accrued liabilities, including compensation, LNG fuel, and customer deposits, and their changes Accrued Liabilities (in thousands) | Item | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | Compensation and benefits | $1,709 | $3,111 | | LNG fuel and transportation | $3,387 | $6,549 | | Customer deposits and prepayments | $1,406 | $8,456 | | Other accrued liabilities | $3,173 | $338 | | Total accrued liabilities | $10,681 | $19,642 | - Total accrued liabilities decreased by **$8.961 million** from December 31, 2022, to March 31, 2023, primarily due to reductions in customer deposits and prepayments, and LNG fuel and transportation accruals[56](index=56&type=chunk) [Note 9. Debt](index=15&type=section&id=9.%20DEBT) This note details the company's debt obligations, including secured term notes and promissory notes, and their carrying values Carrying Value of Debt (in thousands) | Item | March 31, 2023 | December 31, 2022 | | :-------------------------------- | :------------- | :---------------- | | Secured term note, net of debt issuance costs | $8,661 | $8,650 | | Secured promissory note - related party | $1,839 | $2,435 | | Insurance and other notes payable | $489 | $848 | | Less: amounts due within one year | $(2,328) | $(3,283) | | Total long-term debt | $8,661 | $8,650 | - The Company has a secured term note (AmeriState Loan) with **$9.0 million** outstanding as of March 31, 2023, maturing in April 2031 and bearing interest at **5.75%** per annum through April 2026[58](index=58&type=chunk) - A secured promissory note to a related party (MG Finance Co., Ltd.) had an outstanding balance of **$1.8 million** as of March 31, 2023, with repayments in equal monthly installments through December 2023[61](index=61&type=chunk) [Note 10. Related Party Transactions](index=16&type=section&id=10.%20RELATED%20PARTY%20TRANSACTIONS) This note discloses transactions and agreements with related parties, including debt obligations and purchases of supplies and services - The Company has a secured promissory note payable with MG Finance Co., Ltd., a subsidiary of The Modern Group, which is a related party[63](index=63&type=chunk) - Purchases of supplies and services from subsidiaries of The Modern Group totaled **$0.1 million** in Q1 2023, up from **$48 thousand** in Q1 2022[64](index=64&type=chunk) - The Company has a commitment for future equipment delivery during 2023 totaling **$0.6 million** with Chart E&C, which beneficially owns **8.0%** of the Company's common stock[65](index=65&type=chunk) [Note 11. Commitments and Contingencies](index=16&type=section&id=11.%20COMMITMENTS%20AND%20CONTINGENCIES) This note addresses potential future obligations and legal matters, including environmental compliance and ongoing legal actions - The Company does not anticipate any expenditures to comply with environmental laws and regulations that would materially impact its financial position, results of operations, or liquidity[66](index=66&type=chunk) - Management believes the ultimate resolution of various legal actions, claims, and audits will not have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity[68](index=68&type=chunk) [Note 12. Stockholders' Equity and Stock-Based Compensation](index=18&type=section&id=12.%20STOCKHOLDERS%27%20EQUITY%20AND%20STOCK-BASED%20COMPENSATION) This note details changes in stockholders' equity and the expense related to stock-based compensation plans Stock Compensation Expense (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------ | :-------------------------------- | :-------------------------------- | | Stock compensation expense| $600 | $500 | - The Company's long-term incentive plan provides for a maximum of **4,000,000 shares** of common stock available for issuance[70](index=70&type=chunk) - **13,587 shares** of common stock were issued upon vesting of restricted stock units during Q1 2023, compared to **501,334 shares** in Q1 2022[71](index=71&type=chunk) [Note 13. Net Income (Loss) Per Share](index=19&type=section&id=13.%20NET%20INCOME%20%28LOSS%29%20PER%20SHARE) This note presents the calculation of basic and diluted net income (loss) per common share, considering potential dilutive securities Net Income (Loss) Per Common Share (in thousands, except share and per share data) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Basic weighted average number of common shares outstanding | 18,426,408 | 18,191,446 | | Diluted net income (loss) per common share | $0.06 | $(0.02) | - Dilutive securities, including RSUs and stock options, were **91,509** for Q1 2023, but none for Q1 2022 due to net losses making them anti-dilutive[73](index=73&type=chunk)[74](index=74&type=chunk) [Note 14. Supplemental Cash Flow Information](index=19&type=section&id=14.%20SUPPLEMENTAL%20CASH%20FLOW%20INFORMATION) This note provides additional details on cash flow items not directly presented in the main cash flow statement, such as interest and taxes paid Supplemental Cash Flow Information (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Interest paid | $182 | $181 | | Income taxes paid | $— | $(14) | | Acquisition of fixed assets included within accounts payable and accrued expenses | $3,000 | $170 | [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Stabilis Solutions, Inc.'s financial condition, operational results, liquidity, and capital resources for Q1 2023 versus Q1 2022 [Overview](index=20&type=section&id=Overview) This section provides a general description of Stabilis Solutions, Inc.'s business model, revenue generation, and operational assets - Stabilis Solutions, Inc. is an energy transition company providing turnkey clean energy solutions, primarily using LNG, to diverse end markets in North America[77](index=77&type=chunk) - The company generates revenue through LNG production and delivery, cryogenic equipment rental, and engineering and field support services[79](index=79&type=chunk) - Stabilis operates two liquefiers in Texas and Louisiana, with capacities of **100,000** and **30,000 LNG gallons per day**, respectively, and also sources LNG from third parties[80](index=80&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance, including revenues, operating expenses, and net income, for Q1 2023 and 2022 Consolidated Operating Results (in thousands, except percentages) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | $ Change | % Change | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | :------- | :------- | | Revenues | $26,842 | $20,267 | $6,575 | 32.4% | | Total operating expenses | $25,829 | $20,632 | $5,197 | 25.2% | | Income (loss) from operations | $1,358 | $(278) | $1,636 | 588.5% | | Net income (loss) from continuing operations| $1,084 | $(359) | $1,443 | 401.9% | | Net income (loss) | $1,084 | $(406) | $1,490 | 367.0% | - The company achieved a significant turnaround, moving from a net loss of **$0.406 million** in Q1 2022 to a net income of **$1.084 million** in Q1 2023[86](index=86&type=chunk) [Revenues](index=22&type=section&id=Revenues_MD%26A) This section discusses the factors contributing to the **32% increase** in revenues for Q1 2023 compared to Q1 2022 - Revenues increased by **$6.6 million (32%)** in Q1 2023 compared to Q1 2022[87](index=87&type=chunk) - The increase was primarily driven by higher natural gas prices, increased pricing charged to customers, increased revenues from minimum purchase contracts, and growth in rental, service, and other revenue from additional projects[93](index=93&type=chunk) - The revenue increase was partially offset by fewer gallons of LNG delivered in Q1 2023[87](index=87&type=chunk) [Operating Expenses](index=22&type=section&id=Operating%20Expenses_MD%26A) This section analyzes changes in cost of revenues, selling, general and administrative expenses, and depreciation for Q1 2023 - Cost of revenues increased by **$4.8 million (31%)** in Q1 2023, maintaining **76% of revenue**, driven by higher natural gas prices, inflationary pressures, increased take-or-pay fees, and higher labor/equipment costs for marine bunkering projects[88](index=88&type=chunk)[94](index=94&type=chunk) - Selling, general and administrative expenses increased by **$0.4 million**, mainly due to increased compensation, headcount, and professional services[89](index=89&type=chunk) - Depreciation expense decreased by **12%** due to assets reaching the end of their depreciable lives[90](index=90&type=chunk) - Net equity income from foreign joint venture operations increased by **$0.3 million** due to increased operating activity in China[90](index=90&type=chunk) [Discontinued Operations](index=23&type=section&id=Discontinued%20Operations_MD%26A) This section reports on the operating loss from discontinued Brazil Operations in Q1 2022, with no activity in Q1 2023 - The operating loss from discontinued operations (Brazil Operations) was **$47 thousand** for Q1 2022, with no activity in Q1 2023 following the sale on October 31, 2022[95](index=95&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) This section assesses the company's ability to meet its financial obligations, including cash balances, debt, and future capital requirements - As of March 31, 2023, the Company had **$6.9 million** in cash and cash equivalents and **$11.3 million** in outstanding debt and lease obligations[97](index=97&type=chunk) - The Company has a **$10.0 million** loan facility with **$1.0 million** available for future draws[97](index=97&type=chunk) - Management believes existing cash balances and the loan facility are sufficient to fund operations for the next twelve months, while also evaluating additional financing alternatives[98](index=98&type=chunk) [Cash Flows](index=23&type=section&id=Cash%20Flows_MD%26A) This section summarizes cash flows from operating, investing, and financing activities for Q1 2023 and 2022 Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------ | :-------------------------------- | :-------------------------------- | | Operating activities | $93 | $3,155 | | Investing activities | $(3,727) | $(818) | | Financing activities | $(961) | $(1,132) | | Net increase (decrease) in cash and cash equivalents | $(4,590) | $1,202 | - Net cash provided by operating activities decreased by **$3.1 million** year-over-year, primarily due to higher net working capital requirements[100](index=100&type=chunk) - Net cash used in investing activities increased to **$3.7 million**, mainly due to cash paid for additional asset purchases[101](index=101&type=chunk) [Future Cash Requirements](index=24&type=section&id=Future%20Cash%20Requirements) This section outlines anticipated capital expenditures and their funding, dependent on investment opportunities and capital availability - Capital expenditures for Q1 2023 were **$3.7 million**, primarily for liquefaction assets and rolling stock[104](index=104&type=chunk) - The Company had open purchase orders of approximately **$4.0 million** for capital expenditures at March 31, 2023[104](index=104&type=chunk) - Future capital expenditures depend on investment opportunities and the availability of additional capital at favorable terms[104](index=104&type=chunk) [Shelf Registration Statement](index=24&type=section&id=Shelf%20Registration%20Statement) This section describes the **$100.0 million** shelf registration statement for issuing various securities to fund operations or transactions - A shelf registration statement (Form S-3) allows the Company to issue up to **$100.0 million** in common stock, preferred stock, or warrants to fund working capital, repay debt, or finance future transactions[105](index=105&type=chunk) - As a smaller reporting company, sales under the Shelf Registration are limited to **one-third of public float** in any twelve-month period[105](index=105&type=chunk) - No issuances were made under the Shelf Registration during the three months ended March 31, 2023[105](index=105&type=chunk) [Off-Balance Sheet Arrangements](index=24&type=section&id=Off-Balance%20Sheet%20Arrangements) This section confirms the absence of material off-balance sheet arrangements that could impact the company's financial position - As of March 31, 2023, the Company had no transactions meeting the definition of off-balance sheet arrangements that could materially affect its financial position or operating results[106](index=106&type=chunk) [Critical Accounting Policies and Estimates](index=24&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section states that there were no significant changes to the company's critical accounting policies and estimates in Q1 2023 - There have been no significant changes in the Company's critical accounting policies and estimates during Q1 2023 from those disclosed in the 2022 Annual Report on Form 10-K[108](index=108&type=chunk) [New Accounting Standards](index=24&type=section&id=New%20Accounting%20Standards) This section reports that the adoption of ASU 2016-13 had no material impact on the company's financial statements in Q1 2023 - The adoption of ASU 2016-13, 'Financial Instruments - Credit Losses,' in Q1 2023 had no material impact on the Company's Condensed Consolidated Financial Statements[32](index=32&type=chunk)[109](index=109&type=chunk) [ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Stabilis Solutions, Inc. is not required to provide quantitative and qualitative disclosures about market risk - The Company is exempt from providing quantitative and qualitative disclosures about market risk as it qualifies as a 'smaller reporting company'[110](index=110&type=chunk) [ITEM 4. CONTROLS AND PROCEDURES](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) This section details the evaluation of the Company's disclosure controls and procedures and reports on any changes in internal control over financial reporting [Evaluation of Disclosure Controls and Procedures](index=25&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) This section confirms the effectiveness of the company's disclosure controls and procedures as of March 31, 2023 - The Company's management, including the principal executive and financial officers, concluded that disclosure controls and procedures were effective as of March 31, 2023[111](index=111&type=chunk) [Changes in Internal Control over Financial Reporting](index=25&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) This section reports no material changes in internal control over financial reporting during the last fiscal quarter - There were no changes in internal control over financial reporting during the last fiscal quarter that materially affected or are reasonably likely to materially affect the Company's internal control over financial reporting[112](index=112&type=chunk) [PART II. OTHER INFORMATION](index=25&type=section&id=Part%20II.%20Other%20Information) This part includes disclosures on legal proceedings, risk factors, other information, exhibits, and required signatures [ITEM 1. LEGAL PROCEEDINGS](index=25&type=section&id=Item%201.%20Legal%20Proceedings) This section addresses the Company's involvement in legal proceedings and management's assessment of their potential financial impact - Management believes the ultimate resolution of various legal proceedings and claims arising in the ordinary course of business will not have a material effect on the Company's financial position or results of operations[114](index=114&type=chunk) [ITEM 1A. RISK FACTORS](index=25&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the risk factors previously disclosed in the Company's Annual Report on Form 10-K and confirms no material changes for the current period - There have been no material changes in the Company's risk factors disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022, during the three months ended March 31, 2023[115](index=115&type=chunk) [ITEM 5. OTHER INFORMATION](index=25&type=section&id=Item%205.%20Other%20Information) This section indicates that there is no other information to report for the period - No other information is reported under this item[116](index=116&type=chunk) [ITEM 6. EXHIBITS](index=26&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed as part of the Form 10-Q, including organizational documents, registration rights agreements, certifications, and XBRL data - The report includes various exhibits such as Amended and Restated Articles of Incorporation, Bylaws, Registration Rights Agreements, and certifications (Rule 13a-14(a) / 15d-14(a) and Section 1350)[121](index=121&type=chunk) [SIGNATURES](index=27&type=section&id=Signatures) This section contains the required signatures of the Company's principal executive officer and principal financial officer, certifying the filing of the report - The report is signed by Westervelt T. Ballard, Jr., President and Chief Executive Officer, and Andrew L. Puhala, Chief Financial Officer, on May 10, 2023[123](index=123&type=chunk)