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Heidmar Maritime Holdings Corp. Reports Third Quarter 2025 Results
Globenewswireยท2025-11-06 21:05

Core Insights - Heidmar Maritime Holdings Corp. reported significant revenue growth in Q3 2025, with total revenues reaching $15.6 million, a 117% increase from $7.2 million in Q3 2024, primarily driven by an increased number of vessels commencing short-term charters [3][6] - The company achieved a net income of $1.2 million or $0.02 per share for Q3 2025, while the adjusted net income was $1.8 million, excluding $0.7 million in non-cash stock-based compensation [3][6] - For the nine-month period ended September 30, 2025, total revenues were $30.8 million, up from $23.6 million in the same period of 2024, with a net loss of $4.8 million or $0.08 per share [4][6] Financial Performance - Total revenues for Q3 2025 were $15.6 million, compared to $7.2 million in Q3 2024, marking an increase of $8.4 million [3][6] - For the nine months ended September 30, 2025, total revenues were $30.8 million, an increase of $7.2 million from $23.6 million in the same period of 2024 [4][6] - General and administrative expenses for Q3 2025 were $3.1 million, up from $2.7 million in Q3 2024, primarily due to stock-based compensation amortization [3][6] Operational Developments - The company completed the disposal of its loss-making subsidiary, Heidmar Trading DMCC, resulting in a gain of $0.06 million recognized in Q3 2025 [7] - Heidmar expanded its fleet with the addition of a new Suezmax tanker and two LR1 Super Eco newbuild vessels in August and September 2025 [7][9] - The CEO of Heidmar purchased 55,900 shares of the company's common stock in September 2025, reflecting confidence in the company's long-term strategy [7][10] Management Commentary - The CEO highlighted that Q3 2025 represented a strong step forward for Heidmar, with substantial revenue growth and successful execution of strategic priorities [8] - The company is focused on leveraging its integrated maritime platform to build a modern, energy-efficient fleet and drive sustainable value creation for shareholders [11]