Company Overview - Helix Energy Solutions Group is a leading offshore energy services provider with a global footprint and a diversified suite of subsea capabilities [6] - The company leverages advanced robotics and intervention technologies to support the full lifecycle of offshore oil and gas assets [6] - It generates revenue by providing specialized engineering, maintenance, and decommissioning services to the offshore energy sector [9] Financial Performance - Revenue for the trailing twelve months (TTM) is $1.31 billion, with a net income of $42.68 million [4] - As of February 13, 2026, the share price is $8.60, reflecting a one-year price change of 5.3% [4][8] - In the third quarter, revenue reached approximately $377 million, with adjusted EBITDA of roughly $104 million, marking the strongest quarterly EBITDA since 2014 [11] Recent Transactions - Gate City Capital Management sold 575,000 shares of Helix Energy Solutions Group during the fourth quarter of 2025, valued at an estimated $3.82 million [2] - Following the sale, HLX represents 5.08% of Gate City Capital Management's 13F assets under management (AUM) [8] - The fund's quarter-end HLX position decreased in value by $4.31 million, closing the period with 1,872,195 shares [2] Market Position and Strategy - Helix Energy Solutions Group offers a range of services including offshore well intervention, robotics, and production facility services [9] - The company serves independent oil and gas producers, pipeline transmission companies, renewable energy firms, and offshore engineering and construction companies globally [9] - Despite the sale of shares, Helix still represents a meaningful but not dominant bet within a portfolio focused on commodity and industrial exposures [10] Operational Insights - The business appears operationally healthier than the stock price suggests, with a strong cash position of $338 million and negative net debt as of September [11] - However, nine-month EBITDA remains below last year's level, and the offshore markets are still uneven [12] - Long-term growth potential hinges on whether robotics growth and well intervention utilization can offset oil price volatility [12]