Stabilis Solutions(SLNG) - 2025 Q3 - Quarterly Results

Financial Performance - Revenues for Q3 2025 were $20.3 million, representing a 15.3% increase year-over-year[4] - Net income for Q3 2025 was $1.1 million, or $0.06 per diluted share, compared to $1.0 million, or $0.05 per diluted share in Q3 2024[8] - Adjusted EBITDA for Q3 2025 increased to $2.9 million, up from $2.6 million in the same quarter last year[9] - Net income for the three months ended September 30, 2025, was $1,119 million, compared to a net loss of $613 million for the previous quarter[21] - EBITDA for the three months ended September 30, 2025, was $2,878 million, significantly higher than $1,420 million in the previous quarter[23] - Adjusted EBITDA for the nine months ended September 30, 2025, reached $6,446 million, compared to $7,795 million for the same period in 2024, indicating a decrease of 17.3%[23] Revenue Breakdown - Revenue from the marine end market surged by 31.5% year-over-year, while aerospace revenue rose by 88.3% and power generation revenue grew by 31.4%[5] Cash Flow and Liquidity - Cash flow from operations was $2.4 million for Q3 2025, slightly down from $2.6 million in Q3 2024[9] - The company had $10.3 million in cash and $5.2 million available under credit agreements as of September 30, 2025[4] - Cash and cash equivalents at the end of the period were $10,305 million, down from $12,220 million at the beginning of the period, reflecting a decrease of 15.6%[21] Assets and Liabilities - Total assets increased to $87,138 million as of September 30, 2025, up from $85,584 million at December 31, 2024, representing a growth of 1.83%[19] - Total current liabilities increased to $13,639 million as of September 30, 2025, compared to $11,627 million at December 31, 2024, marking an increase of 17.3%[19] Project Developments - The company is progressing towards a major LNG liquefaction capacity expansion with a new facility planned in Galveston, Texas[2] - A 10-year marine bunkering agreement has been secured with a global marine operator for LNG supply at the Port of Galveston[2] - Capital expenditures increased during Q3 2025 to support engineering and design work for the Galveston LNG project[2] - A final investment decision for the Galveston LNG project is expected in early 2026[5] Accounts and Expenses - The company reported a depreciation expense of $1,842 million for the three months ended September 30, 2025, slightly lower than $1,860 million in the previous quarter[23] - Accounts receivable increased by $2,721 million during the three months ended September 30, 2025, indicating a rise in outstanding customer payments[21] - The company incurred a bad debt expense of $202 million for the three months ended September 30, 2025, compared to $106 million in the previous quarter[21] Stockholders' Equity - The total stockholders' equity decreased to $66,695 million as of September 30, 2025, down from $67,008 million at December 31, 2024, reflecting a decline of 0.47%[19]