Stabilis Solutions Announces Fourth Quarter and Full Year 2024 Results
Stabilis Solutions (NASDAQ:SLNG) reported strong financial results for Q4 and full year 2024. The company achieved Q4 net income of $2.1 million with Adjusted EBITDA of $4.0 million and a 23.2% EBITDA margin. Full-year performance included net income of $4.6 million, Adjusted EBITDA of $11.8 million, and operating cash flow of $13.7 million.
The company's revenue mix in marine and aerospace end-markets increased significantly, growing from 14% to nearly 50% of total revenue in Q4 2024. Stabilis invested $7.4 million in growth capital during 2024, representing over 80% of total capital investment. The company ended the year with $9.0 million in cash and $4.3 million available under credit agreements.
Stabilis Solutions (NASDAQ:SLNG) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. L'azienda ha registrato un reddito netto di 2,1 milioni di dollari nel quarto trimestre, con un EBITDA rettificato di 4,0 milioni di dollari e un margine EBITDA del 23,2%. Le performance annuali hanno incluso un reddito netto di 4,6 milioni di dollari, un EBITDA rettificato di 11,8 milioni di dollari e un flusso di cassa operativo di 13,7 milioni di dollari.
La composizione dei ricavi dell'azienda nei mercati marittimi e aerospaziali 猫 aumentata significativamente, passando dal 14% a quasi il 50% del fatturato totale nel quarto trimestre del 2024. Stabilis ha investito 7,4 milioni di dollari in capitale di crescita durante il 2024, rappresentando oltre l'80% del totale degli investimenti in capitale. L'azienda ha chiuso l'anno con 9,0 milioni di dollari in contante e 4,3 milioni di dollari disponibili attraverso accordi di credito.
Stabilis Solutions (NASDAQ:SLNG) report贸 resultados financieros s贸lidos para el cuarto trimestre y el a帽o completo 2024. La compa帽铆a logr贸 un ingreso neto de 2.1 millones de d贸lares en el cuarto trimestre, con un EBITDA ajustado de 4.0 millones de d贸lares y un margen EBITDA del 23.2%. El rendimiento del a帽o completo incluy贸 un ingreso neto de 4.6 millones de d贸lares, un EBITDA ajustado de 11.8 millones de d贸lares y un flujo de caja operativo de 13.7 millones de d贸lares.
La mezcla de ingresos de la compa帽铆a en los mercados finales marinos y aeroespaciales aument贸 significativamente, pasando del 14% a casi el 50% de los ingresos totales en el cuarto trimestre de 2024. Stabilis invirti贸 7.4 millones de d贸lares en capital de crecimiento durante 2024, representando m谩s del 80% de la inversi贸n total de capital. La compa帽铆a termin贸 el a帽o con 9.0 millones de d贸lares en efectivo y 4.3 millones de d贸lares disponibles bajo acuerdos de cr茅dito.
Stabilis Solutions (NASDAQ:SLNG)電� 2024雲� 4攵勱赴 氚� 鞐瓣皠 臧曤牓頃� 鞛 瓴瓣臣毳� 氤搓碃頄堨姷雼堧嫟. 須岇偓電� 4攵勱赴鞐� 210毵� 雼煬鞚� 靾滌澊鞚奠潉 雼劚頄堨溂氅�, 臁办爼 EBITDA電� 400毵� 雼煬搿� EBITDA 毵堨鞚� 23.2%鞐� 雼枅鞀惦媹雼�. 鞐瓣皠 靹标臣電� 460毵� 雼煬鞚� 靾滌澊鞚�, 1180毵� 雼煬鞚� 臁办爼 EBITDA, 1370毵� 雼煬鞚� 鞖挫榿 順勱笀 頋愲鞚� 韽暔頄堨姷雼堧嫟.
須岇偓鞚� 頃挫枒 氚� 頃车 鞖办＜ 斓滌 鞁滌灔鞐愳劀鞚� 靾橃澋 氙轨姢電� 韥矊 歃濌皜頃橃棳 2024雲� 4攵勱赴 齑� 靾橃澋鞚� 14%鞐愳劀 瓯办潣 50%搿� 靹膘灔頄堨姷雼堧嫟. Stabilis電� 2024雲� 霃欖晥 靹膘灔 鞛愲掣鞐� 740毵� 雼煬毳� 韴瀽頄堨溂氅�, 鞚措姅 齑� 鞛愲掣 韴瀽鞎§潣 80% 鞚挫儊鞚� 彀頃╇媹雼�. 須岇偓電� 鞐半鞐� 900毵� 雼煬鞚� 順勱笀瓿� 430毵� 雼煬鞚� 鞁犾毄 瓿勳暯 頃橃棎 靷毄 臧�電ロ暅 鞛愱笀鞚� 氤挫湢頃橁碃 鞛堨棃鞀惦媹雼�.
Stabilis Solutions (NASDAQ:SLNG) a annonc茅 de solides r茅sultats financiers pour le quatri猫me trimestre et l'ann茅e compl猫te 2024. L'entreprise a r茅alis茅 un b茅n茅fice net de 2,1 millions de dollars au quatri猫me trimestre, avec un EBITDA ajust茅 de 4,0 millions de dollars et une marge EBITDA de 23,2%. La performance annuelle a inclus un b茅n茅fice net de 4,6 millions de dollars, un EBITDA ajust茅 de 11,8 millions de dollars et un flux de tr茅sorerie op茅rationnel de 13,7 millions de dollars.
Le m茅lange de revenus de l'entreprise dans les march茅s finaux maritimes et a茅rospatiaux a consid茅rablement augment茅, passant de 14% 脿 pr猫s de 50% des revenus totaux au quatri猫me trimestre 2024. Stabilis a investi 7,4 millions de dollars en capital de croissance en 2024, repr茅sentant plus de 80% de l'investissement total en capital. L'entreprise a termin茅 l'ann茅e avec 9,0 millions de dollars en esp猫ces et 4,3 millions de dollars disponibles dans le cadre d'accords de cr茅dit.
Stabilis Solutions (NASDAQ:SLNG) hat starke finanzielle Ergebnisse f眉r das vierte Quartal und das gesamte Jahr 2024 gemeldet. Das Unternehmen erzielte im vierten Quartal einen Nettogewinn von 2,1 Millionen Dollar mit einem bereinigten EBITDA von 4,0 Millionen Dollar und einer EBITDA-Marge von 23,2%. Die Gesamtjahresleistung umfasste einen Nettogewinn von 4,6 Millionen Dollar, ein bereinigtes EBITDA von 11,8 Millionen Dollar und einen operativen Cashflow von 13,7 Millionen Dollar.
Die Umsatzstruktur des Unternehmens in den maritimen und luftfahrttechnischen Endm盲rkten hat sich erheblich erh枚ht und wuchs im vierten Quartal 2024 von 14% auf fast 50% des Gesamtumsatzes. Stabilis investierte 7,4 Millionen Dollar in Wachstumskapital im Jahr 2024, was 眉ber 80% der gesamten Kapitalinvestitionen ausmacht. Das Unternehmen schloss das Jahr mit 9,0 Millionen Dollar in bar und 4,3 Millionen Dollar unter Kreditvertr盲gen ab.
- Net income growth to $2.1M in Q4 2024
- Strong 23.2% Adjusted EBITDA margin in Q4
- Operating cash flow doubled year-over-year to $13.7M
- Marine and aerospace revenue share increased to 50%
- $13.3M available in cash and credit facilities
- None.
Insights
Stabilis Solutions delivered impressive Q4 results that capped a transformative year, with net income of $2.1 million and Adjusted EBITDA of $4.0 million representing a
The company's strategic pivot toward higher-value markets is particularly noteworthy, with marine and aerospace segments growing from
Operating cash flow more than doubled to
Their capital allocation strategy shows disciplined focus, with
The company appears well-positioned to benefit from increasing LNG adoption in maritime applications driven by emissions regulations and in aerospace where reliability and performance requirements create premium pricing opportunities.
HOUSTON, TEXAS / / February 25, 2025 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean fueling, production, storage, and last mile delivery solutions for many of the world's most recognized, high-performance brands, today announced financial results for the fourth quarter and full year ended December 31, 2024.
FOURTH QUARTER 2024 HIGHLIGHTS
Net income of
$2.1 million Adjusted EBITDA of
$4.0 million Adjusted EBITDA margin of
23.2% Cash flow from operations of
$2.2 million $9.0 million of cash and$4.3 million of availability under credit agreements as of December 31, 2024
FULL-YEAR 2024 HIGHLIGHTS
Net income of
$4.6 million Adjusted EBITDA of
$11.8 million Adjusted EBITDA margin of
16.1% Cash flow from operations of
$13.7 million
MANAGEMENT COMMENTARY
"Our fourth-quarter results marked the culmination of a strong year for Stabilis, a performance highlighted by year-over-year margin expansion, increased cash generation, and improved profitability," stated Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer. ""Over the past year, we prioritized asset optimization and system efficiency, strengthening our position to accelerate growth with incremental contracts and customers."
"At a strategic level, we've continued to expand our small-scale LNG solutions platform to support both legacy and growth markets," continued Crenshaw. "In 2024, more than
"Operating cash flow more than doubled on a year-over-year basis in 2024, driven by improved utilization of our Texas LNG liquefaction facility, and revenue growth within our aerospace and marine markets," stated Andy Puhala, Chief Financial Officer. "At year-end, we had
"Stabilis is in the early innings of an exciting, multi-year value creation journey," concluded Crenshaw. "Looking ahead, we intend to build upon over a decade of LNG experience and success as we capitalize on increased demand for LNG solutions across our diverse end markets."
STRATEGIC AND OPERATIONAL UPDATE
Strong competitive position within targeted, growth markets. Since the fourth quarter of last year, Stabilis' revenue mix in high-growth marine and aerospace end-markets increased from
14% of total revenue to nearly50% in the fourth quarter of 2024. The Company is uniquely positioned as an incumbent small-scale LNG supplier of choice in these markets given its turn-key solutions offering, which includes production, storage, transportation, and fueling services.
Deploying capital toward growth-oriented investments. During 2024, the Company invested
$7.4 million in growth capital, representing more than80% of its total capital investment for the year. The Company's growth investments continue to focus on expanding capabilities, including in support of growth opportunities in both the Marine and Aerospace end-markets.
FOURTH QUARTER AND FULL YEAR 2024 CONFERENCE CALL AND WEBCAST
Stabilis will host a conference call on Wednesday February 26, 2025, at 9:00 am ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.
A webcast of the conference call will be available in the Investor Relations section of the Company's corporate website at . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
To participate in the live teleconference:
Domestic Live: 800-267-6316
International Live: 203-518-9783
Conference ID: SLNGQ424
To listen to a replay of the teleconference, which will be available through March 5, 2025:
Domestic Live: 800-839-0861
International Live: 402-220-0661
ABOUT STABILIS SOLUTIONS
Stabilis Solutions is a leading provider of clean fueling, production, storage, and last mile delivery solutions for many of the world's most recognized, high-performance brands. To learn more, visit .
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipates," "expects," "could," "will," "plan," "may," "should," "predicts," "potential" and similar expressions are intended to identify such forward-looking statements.
Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.
The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 25, 2025 which is available on the SEC's website at or on the Investors section of our website at . All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Stabilis Solutions, Inc. and Subsidiaries
Selected Consolidated Operating Results
(Unaudited, in thousands, except per share data)
|
| Three Months Ended |
|
| Twelve Months Ended |
| ||||||||||||||
|
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| |||||
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Revenues |
| $ | 17,298 |
|
| $ | 17,627 |
|
| $ | 18,049 |
|
| $ | 73,293 |
|
| $ | 73,114 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs of revenues |
|
| 12,367 |
|
|
| 12,638 |
|
|
| 12,008 |
|
|
| 52,069 |
|
|
| 54,919 |
|
Change in unrealized loss (gain) on natural gas derivatives |
|
| 11 |
|
|
| 13 |
|
|
| (219 | ) |
|
| (310 | ) |
|
| (541 | ) |
Selling, general and administrative expenses |
|
| 1,941 |
|
|
| 3,035 |
|
|
| 3,469 |
|
|
| 11,763 |
|
|
| 12,893 |
|
Gain from disposal of fixed assets |
|
| (460 | ) |
|
| (102 | ) |
|
| (221 | ) |
|
| (761 | ) |
|
| (1,223 | ) |
Depreciation expense |
|
| 1,802 |
|
|
| 1,776 |
|
|
| 1,872 |
|
|
| 7,146 |
|
|
| 7,878 |
|
Total operating expenses |
|
| 15,661 |
|
|
| 17,360 |
|
|
| 16,909 |
|
|
| 69,907 |
|
|
| 73,926 |
|
Income (loss) from operations before equity income |
|
| 1,637 |
|
|
| 267 |
|
|
| 1,140 |
|
|
| 3,386 |
|
|
| (812 | ) |
Net equity income from foreign joint venture operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net equity income from foreign joint venture operations |
|
| 556 |
|
|
| 516 |
|
|
| 377 |
|
|
| 1,564 |
|
|
| 1,691 |
|
Income from operations |
|
| 2,193 |
|
|
| 783 |
|
|
| 1,517 |
|
|
| 4,950 |
|
|
| 879 |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
| 7 |
|
|
| 81 |
|
|
| (19 | ) |
|
| 112 |
|
|
| (256 | ) |
Interest expense, net - related parties |
|
| - |
|
|
| - |
|
|
| (7 | ) |
|
| - |
|
|
| (78 | ) |
Other income (expense) |
|
| 7 |
|
|
| 10 |
|
|
| (49 | ) |
|
| 22 |
|
|
| (176 | ) |
Total other income (expense) |
|
| 14 |
|
|
| 91 |
|
|
| (75 | ) |
|
| 134 |
|
|
| (510 | ) |
Net income before income tax expense |
|
| 2,207 |
|
|
| 874 |
|
|
| 1,442 |
|
|
| 5,084 |
|
|
| 369 |
|
Income tax expense (benefit) |
|
| 101 |
|
|
| (123 | ) |
|
| 20 |
|
|
| 485 |
|
|
| 244 |
|
Net income |
|
| 2,106 |
|
|
| 997 |
|
|
| 1,422 |
|
|
| 4,599 |
|
|
| 125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted per common share |
| $ | 0.11 |
|
| $ | 0.05 |
|
| $ | 0.08 |
|
| $ | 0.25 |
|
| $ | 0.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
EBITDA |
| $ | 4,002 |
|
| $ | 2,569 |
|
| $ | 3,340 |
|
| $ | 12,118 |
|
| $ | 8,581 |
|
Adjusted EBITDA |
| $ | 4,013 |
|
| $ | 2,582 |
|
| $ | 2,900 |
|
| $ | 11,808 |
|
| $ | 6,817 |
|
Stabilis Solutions, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share data)
| December 31, |
| ||||||
| 2024 |
|
| 2023 |
| |||
Assets |
|
|
|
|
|
| ||
Current assets: |
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 8,987 |
|
| $ | 5,374 |
|
Accounts receivable, net |
|
| 6,239 |
|
|
| 7,752 |
|
Inventories, net |
|
| 345 |
|
|
| 169 |
|
Prepaid expenses and other current assets |
|
| 1,902 |
|
|
| 1,677 |
|
Total current assets |
|
| 17,473 |
|
|
| 14,972 |
|
Property, plant and equipment: |
|
|
|
|
|
|
|
|
Cost |
|
| 117,246 |
|
|
| 110,646 |
|
Less accumulated depreciation |
|
| (65,518 | ) |
|
| (61,167 | ) |
Property, plant and equipment, net |
|
| 51,728 |
|
|
| 49,479 |
|
Goodwill |
|
| 4,314 |
|
|
| 4,314 |
|
Investments in foreign joint ventures |
|
| 11,659 |
|
|
| 12,009 |
|
Right-of-use assets and other noncurrent assets |
|
| 410 |
|
|
| 525 |
|
Total assets |
| $ | 85,584 |
|
| $ | 81,299 |
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 5,667 |
|
| $ | 5,707 |
|
Accrued liabilities |
|
| 3,566 |
|
|
| 4,166 |
|
Current portion of long-term notes payable |
|
| 2,010 |
|
|
| 1,682 |
|
Current portion of finance and operating lease obligations |
|
| 384 |
|
|
| 164 |
|
Total current liabilities |
|
| 11,627 |
|
|
| 11,719 |
|
Long-term notes payable, net of current portion and debt issuance costs |
|
| 6,848 |
|
|
| 7,747 |
|
Long-term portion of operating lease obligations |
|
| 101 |
|
|
| 21 |
|
Total liabilities |
|
| 18,576 |
|
|
| 19,487 |
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
Stockholders' Equity: |
|
|
|
|
|
|
|
|
Common stock; |
|
| 19 |
|
|
| 19 |
|
Additional paid-in capital |
|
| 103,214 |
|
|
| 102,057 |
|
Accumulated other comprehensive loss |
|
| (578 | ) |
|
| (18 | ) |
Accumulated deficit |
|
| (35,647 | ) |
|
| (40,246 | ) |
Total stockholders' equity |
|
| 67,008 |
|
|
| 61,812 |
|
Total liabilities and stockholders' equity |
| $ | 85,584 |
|
| $ | 81,299 |
|
Stabilis Solutions, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited, in thousands)
| Three Months Ended |
|
| Twelves Months Ended |
| |||||||||||||||
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| ||||||
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net income |
| $ | 2,106 |
|
| $ | 997 |
|
| $ | 1,422 |
|
| $ | 4,599 |
|
| $ | 125 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
| 1,802 |
|
|
| 1,776 |
|
|
| 1,872 |
|
|
| 7,146 |
|
|
| 7,878 |
|
Stock-based compensation expense |
|
| 82 |
|
|
| 293 |
|
|
| 387 |
|
|
| 1,166 |
|
|
| 2,082 |
|
Bad debt expense |
|
| 14 |
|
|
| 20 |
|
|
| - |
|
|
| 102 |
|
|
| - |
|
Gain on disposal of assets |
|
| (460 | ) |
|
| (102 | ) |
|
| (221 | ) |
|
| (761 | ) |
|
| (1,223 | ) |
Income from equity investment in joint venture |
|
| (608 | ) |
|
| (575 | ) |
|
| (431 | ) |
|
| (1,770 | ) |
|
| (1,897 | ) |
Distributions from equity investment in joint venture |
|
| - |
|
|
| - |
|
|
| 412 |
|
|
| 1,716 |
|
|
| 1,225 |
|
Cash settlements from natural gas derivatives, net |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (359 | ) |
|
| - |
|
AG真人官方ized and unrealized (gains) losses from natural gas derivatives, net |
|
| 29 |
|
|
| 93 |
|
|
| 32 |
|
|
| 152 |
|
|
| 572 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
| (455 | ) |
|
| 109 |
|
|
| (1,617 | ) |
|
| 1,390 |
|
|
| 4,019 |
|
Prepaid expenses and other current assets |
|
| 12 |
|
|
| 177 |
|
|
| 513 |
|
|
| 820 |
|
|
| 1,461 |
|
Accounts payable and accrued liabilities |
|
| (523 | ) |
|
| (22 | ) |
|
| (1,084 | ) |
|
| (678 | ) |
|
| (7,717 | ) |
Other |
|
| 172 |
|
|
| (211 | ) |
|
| 47 |
|
|
| 170 |
|
|
| 187 |
|
Net cash provided by operating activities |
|
| 2,171 |
|
|
| 2,555 |
|
|
| 1,332 |
|
|
| 13,693 |
|
|
| 6,712 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of fixed assets |
|
| (5,585 | ) |
|
| (1,312 | ) |
|
| (1,270 | ) |
|
| (9,146 | ) |
|
| (10,252 | ) |
Proceeds from sale of fixed assets |
|
| 460 |
|
|
| 102 |
|
|
| 1,255 |
|
|
| 841 |
|
|
| 1,255 |
|
Proceeds from notes receivable, related to prior sale of Brazil |
|
| 185 |
|
|
| - |
|
|
| 87 |
|
|
| 185 |
|
|
| 87 |
|
Net cash provided by (used in) investing activities |
|
| (4,940 | ) |
|
| (1,210 | ) |
|
| 72 |
|
|
| (8,120 | ) |
|
| (8,910 | ) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments on short- and long-term notes payable |
|
| (625 | ) |
|
| (405 | ) |
|
| (319 | ) |
|
| (1,905 | ) |
|
| (1,179 | ) |
Payments on notes payable from related parties |
|
| - |
|
|
| - |
|
|
| (622 | ) |
|
| - |
|
|
| (2,435 | ) |
Payment of debt issuance costs |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (108 | ) |
Employee tax payments from restricted stock withholdings |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (9 | ) |
|
| (162 | ) |
Net cash used in financing activities |
|
| (625 | ) |
|
| (405 | ) |
|
| (941 | ) |
|
| (1,914 | ) |
|
| (3,884 | ) |
Effect of exchange rate changes on cash |
|
| (12 | ) |
|
| (30 | ) |
|
| (3 | ) |
|
| (46 | ) |
|
| 5 |
|
Net increase (decrease) in cash and cash equivalents |
|
| (3,406 | ) |
|
| 910 |
|
|
| 460 |
|
|
| 3,613 |
|
|
| (6,077 | ) |
Cash and cash equivalents, beginning of period |
|
| 12,393 |
|
|
| 11,483 |
|
|
| 4,914 |
|
|
| 5,374 |
|
|
| 11,451 |
|
Cash and cash equivalents, end of period |
| $ | 8,987 |
|
| $ | 12,393 |
|
| $ | 5,374 |
|
| $ | 8,987 |
|
| $ | 5,374 |
|
Non-GAAP Measures
Our management uses EBITDA and Adjusted EBITDA to assess the performance and operating results of our business. EBITDA is defined as Earnings from continuing operations before Interest (includes interest income and interest expense), Taxes, Depreciation and Amortization. Adjusted EBITDA is defined as EBITDA further adjusted for certain special items that occur during the reporting period, as noted below. We include EBITDA and adjusted EBITDA to provide investors with a supplemental measure of our operating performance. Neither EBITDA nor Adjusted EBITDA is a recognized term under generally accepted accounting principles in the United States of America ("GAAP"). Accordingly, they should not be used as an indicator of, or an alternative to, net income as a measure of operating performance. In addition, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management's discretionary use, as they do not consider certain cash requirements, such as debt service requirements. Because the definition of EBITDA and Adjusted EBITDA may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The following table provides a reconciliation of net income, the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA (in thousands).
| Three Months Ended |
|
| Twelve Months Ended |
| |||||||||||||||
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| ||||||
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||||
Net income |
| $ | 2,106 |
|
| $ | 997 |
|
| $ | 1,422 |
|
| $ | 4,599 |
|
| $ | 125 |
|
Depreciation |
|
| 1,802 |
|
|
| 1,776 |
|
|
| 1,872 |
|
|
| 7,146 |
|
|
| 7,878 |
|
Interest expense, net |
|
| (7 | ) |
|
| (81 | ) |
|
| 26 |
|
|
| (112 | ) |
|
| 334 |
|
Income tax expense |
|
| 101 |
|
|
| (123 | ) |
|
| 20 |
|
|
| 485 |
|
|
| 244 |
|
EBITDA |
|
| 4,002 |
|
|
| 2,569 |
|
|
| 3,340 |
|
|
| 12,118 |
|
|
| 8,581 |
|
Special items* |
|
| 11 |
|
|
| 13 |
|
|
| (440 | ) |
|
| (310 | ) |
|
| (1,764 | ) |
Adjusted EBITDA |
| $ | 4,013 |
|
| $ | 2,582 |
|
| $ | 2,900 |
|
| $ | 11,808 |
|
| $ | 6,817 |
|
| * | Special items for all periods presented consist of adjustments related to unrealized (gain)/loss on natural gas derivatives. The three months and year ended December 31, 2023 also include a subtraction of |
# # # # #
Investor Contact:
Andrew Puhala
Chief Financial Officer
832-456-6502
[email protected]
SOURCE: Stabilis Solutions
View the original on ACCESS Newswire
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