Borr Drilling(US:BORR)2025-08-14 13:00Financial Performance - Adjusted EBITDA for Q2 2025 was $133.2 million, representing a 49.8% Adjusted EBITDA margin[8] - Total operating revenues in Q2 2025 reached $267.7 million, a 24% increase compared to $216.6 million in Q1 2025[14] - The company expects Q3 activity to be at similar levels to Q2[28] - The company is comfortable with the 2025 Adjusted EBITDA consensus of approximately $470 million[28] Fleet and Contract Coverage - The company has 22 active rigs out of a fleet of 24 modern rigs[8] - Full year 2025 contract coverage is at 84% with an average dayrate of $145,000, which includes approximately 5.5% coverage related to suspension periods in Mexico[8, 9] - The company added $318 million in backlog revenue year-to-date in 2025[16] - The average day rate for new commitments year-to-date in 2025 is $123,000[16] - The company's 2026 contract coverage is at 47% with an average dayrate of $139,000[20] Liquidity and Balance Sheet - Pro forma liquidity stands at $425 million post July transactions[8] - Debt amortization is $135 million per annum[8]