Stabilis Solutions(SLNG) - 2024 Q3 - Quarterly Results

Financial Performance - Net income improved by $1.2 million year-over-year, reaching $997,000[2] - EBITDA for the three months ended September 30, 2024, was $2,569,000, up from $1,808,000 in the same period last year, indicating a year-over-year increase of 42%[21] - Adjusted EBITDA for the nine months ended September 30, 2024, reached $7,795,000, compared to $3,917,000 for the same period in 2023, reflecting a growth of 99%[21] - Net income for the three months ended September 30, 2024, was $997,000, compared to a loss of $207,000 for the same period in 2023, representing a significant improvement[19] Revenue and Sales - LNG sales volumes increased by 22% year-over-year[2] - 68% of third quarter revenues were derived from contracted customer agreements, up from 43% in Q3 2023[4] - Revenue mix in high-growth marine and aerospace markets increased from 11% to 40% year-over-year[5] Cash Flow and Assets - Cash flow from operations increased by 73% year-over-year, totaling $2.6 million[2] - Cash provided by operating activities for the three months ended September 30, 2024, was $2,555,000, compared to $1,478,000 in the same period last year, marking a 73% increase[19] - The company reported a net cash increase of $910,000 for the three months ended September 30, 2024, compared to a decrease of $3,207,000 in the same period of 2023[19] - Total assets increased to $89.35 million as of September 30, 2024, up from $81.30 million at the end of 2023[16] - The company’s cash and cash equivalents at the end of the period were $12,393,000, up from $4,914,000 at the end of September 30, 2023[19] Equity and Expenses - Stockholders' equity rose to $65.36 million, compared to $61.81 million at the end of 2023[18] - Depreciation expense for the three months ended September 30, 2024, was $1,776,000, slightly lower than $2,003,000 in the same period last year[21] Investments and Financing - Cash used in investing activities for the three months ended September 30, 2024, was $1,210,000, a decrease from $3,771,000 in the same period of 2023[19] - The company reported a net cash used in financing activities of $405,000 for the three months ended September 30, 2024, compared to $904,000 in the same period last year[19] Operational Developments - The company is expanding Texas Gulf Coast marine bunkering operations with a new LNG train capable of producing 100,000 gallons per day[6] - Identified substantial opportunities for LNG deployment in emergency power generation and aerospace applications[7] Gains and Losses - The company experienced a gain from the disposal of assets amounting to $102,000 for the three months ended September 30, 2024, compared to a loss of $1,002,000 in the same period last year[19]