Stabilis Solutions Announces Second Quarter 2025 Results
Stabilis Solutions (NASDAQ:SLNG) reported Q2 2025 financial results, with revenues of $17.3 million, representing a 7% year-over-year decline. The company posted a net loss of ($0.6) million, or ($0.03) per diluted share, and Adjusted EBITDA of $1.5 million.
Despite lower overall revenue due to the completion of a major industrial contract in 2024, the company saw 15% growth in its key markets of aerospace, marine, and power generation, which now represent 77% of total revenue. Stabilis maintained strong liquidity with $12.2 million in cash and $3.9 million available under credit agreements as of June 30, 2025.
The company's focus remains on expanding its small-scale LNG solutions, particularly in commercial space applications, while maintaining efficient cash conversion and strategic capital allocation.
Stabilis Solutions (NASDAQ:SLNG) ha comunicato i risultati finanziari del secondo trimestre 2025, con ricavi pari a 17,3 milioni di dollari, segnando un calo del 7% rispetto all'anno precedente. L'azienda ha registrato una perdita netta di (0,6) milioni di dollari, ovvero (0,03) dollari per azione diluita, e un EBITDA rettificato di 1,5 milioni di dollari.
Nonostante il calo dei ricavi complessivi dovuto al completamento di un importante contratto industriale nel 2024, la societ脿 ha registrato una crescita del 15% nei suoi mercati chiave, ovvero aerospaziale, marittimo e generazione di energia, che ora rappresentano il 77% del fatturato totale. Stabilis ha mantenuto una solida liquidit脿 con 12,2 milioni di dollari in contanti e 3,9 milioni di dollari disponibili tramite linee di credito al 30 giugno 2025.
Il focus dell'azienda resta sull'espansione delle soluzioni LNG su piccola scala, in particolare per applicazioni commerciali spaziali, mantenendo al contempo un'efficiente conversione del flusso di cassa e un'allocazione strategica del capitale.
Stabilis Solutions (NASDAQ:SLNG) inform贸 sus resultados financieros del segundo trimestre de 2025, con ingresos de 17,3 millones de d贸lares, lo que representa una disminuci贸n del 7% interanual. La compa帽铆a registr贸 una p茅rdida neta de (0,6) millones de d贸lares, o (0,03) d贸lares por acci贸n diluida, y un EBITDA ajustado de 1,5 millones de d贸lares.
A pesar de la reducci贸n general de ingresos debido a la finalizaci贸n de un contrato industrial importante en 2024, la empresa experiment贸 un crecimiento del 15% en sus mercados clave de aeroespacial, mar铆timo y generaci贸n de energ铆a, que ahora representan el 77% del total de ingresos. Stabilis mantuvo una s贸lida liquidez con 12,2 millones de d贸lares en efectivo y 3,9 millones de d贸lares disponibles bajo acuerdos de cr茅dito al 30 de junio de 2025.
El enfoque de la compa帽铆a sigue siendo expandir sus soluciones de GNL a peque帽a escala, especialmente en aplicaciones comerciales espaciales, mientras mantiene una conversi贸n eficiente de efectivo y una asignaci贸n estrat茅gica del capital.
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Stabilis Solutions (NASDAQ:SLNG) a publi茅 ses r茅sultats financiers du deuxi猫me trimestre 2025, avec un chiffre d'affaires de 17,3 millions de dollars, soit une baisse de 7 % par rapport 脿 l'ann茅e pr茅c茅dente. La soci茅t茅 a enregistr茅 une perte nette de (0,6) million de dollars, soit (0,03) dollar par action dilu茅e, et un EBITDA ajust茅 de 1,5 million de dollars.
Malgr茅 une baisse globale du chiffre d'affaires due 脿 la fin d'un important contrat industriel en 2024, l'entreprise a connu une croissance de 15 % dans ses march茅s cl茅s que sont l'a茅rospatiale, le maritime et la production d'茅nergie, qui repr茅sentent d茅sormais 77 % du chiffre d'affaires total. Stabilis a maintenu une forte liquidit茅 avec 12,2 millions de dollars en liquidit茅s et 3,9 millions de dollars disponibles via des lignes de cr茅dit au 30 juin 2025.
La soci茅t茅 reste concentr茅e sur l'expansion de ses solutions de GNL 脿 petite 茅chelle, notamment dans les applications commerciales spatiales, tout en maintenant une conversion efficace de la tr茅sorerie et une allocation strat茅gique du capital.
Stabilis Solutions (NASDAQ:SLNG) meldete die Finanzergebnisse f眉r das zweite Quartal 2025 mit einem Umsatz von 17,3 Millionen US-Dollar, was einem R眉ckgang von 7 % im Jahresvergleich entspricht. Das Unternehmen verzeichnete einen Nettoverlust von (0,6) Millionen US-Dollar bzw. (0,03) US-Dollar je verw盲sserter Aktie und ein bereinigtes EBITDA von 1,5 Millionen US-Dollar.
Trotz eines insgesamt geringeren Umsatzes aufgrund des Abschlusses eines gro脽en Industrievertrags im Jahr 2024 verzeichnete das Unternehmen ein 15 % Wachstum in seinen Kernm盲rkten Luftfahrt, Marine und Energieerzeugung, die nun 77 % des Gesamtumsatzes ausmachen. Stabilis hielt eine starke Liquidit盲t mit 12,2 Millionen US-Dollar in bar und 3,9 Millionen US-Dollar verf眉gbaren Kreditlinien zum 30. Juni 2025.
Der Fokus des Unternehmens liegt weiterhin auf der Erweiterung seiner LNG-Kleinstl枚sungen, insbesondere f眉r kommerzielle Weltraumanwendungen, w盲hrend eine effiziente Cash-Konversion und strategische Kapitalallokation beibehalten werden.
- None.
- Revenue declined 7% year-over-year to $17.3 million
- Net loss of ($0.6) million compared to net income of $27,000 in Q2 2024
- Adjusted EBITDA decreased to $1.5 million from $2.1 million year-over-year
Insights
Stabilis reports modest revenue decline amid strategic shift to higher-growth markets despite short-term profitability challenges.
Stabilis Solutions' Q2 2025 results reveal a strategic transition in progress. The
The company's shift toward high-growth markets is gaining traction, with aerospace, marine, and power generation segments collectively growing
Operational cash flow remains robust at
Adjusted EBITDA of
The
HOUSTON, TX / / August 6, 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 second quarter ended June 30, 2025.
SECOND QUARTER 2025 HIGHLIGHTS
Revenues of
$17.3 million Net loss of (
$0.6) million Adjusted EBITDA of
$1.5 million Cash flow from operations of
$4.5 million $12.2 million of cash and$3.9 million of availability under credit agreements as of June 30, 2025
MANAGEMENT COMMENTARY
"We continued to advance our long-term business development and growth strategy by deepening engagement with customers across marine, aerospace, and power generation end-markets with a focus on securing the long-term contracts needed to grow our operations," stated Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer. " Demand for our turnkey small-scale LNG solutions remains strong, underpinned by continued growth in commercial space applications. These trends reinforce our position as the provider of choice within our markets, and we are prepared to invest in additional LNG infrastructure in response to emerging commercial opportunities."
"Total revenue declined year-over-year in the second quarter, due to the successful completion of a large, short duration commercial project late in 2024. However, we are gaining momentum in our key high growth aerospace, marine and power generation markets, which together increased
"We remain focused on generating operating cash flows and maintaining a strong balance sheet and liquidity to support our long-term growth strategy," stated Andy Puhala, Chief Financial Officer. "As of the end of the second quarter, we had over
STRATEGIC AND OPERATIONAL UPDATE
Strong momentum in key growth markets. Since the second quarter of last year, Stabilis' revenue mix in high-growth marine, power generation and aerospace end-markets increased from
62% of total revenue to nearly77% in the second quarter of 2025. Demand within these end-markets is driven by multi-year trends such as the commercialization of the aerospace industry and the transition of marine vessels to LNG. The Company is actively pursuing further commercial opportunities to expand relationships with both new and existing customers within these end-markets.Consistent cash conversion supports balance sheet versatility and growth investment potential. Stabilis' efficient cost structure and working capital utilization has continued to drive robust free cash flow conversion and a strengthening liquidity position. The Company continues to allocate capital and operating expenses toward growth initiatives and since the beginning of the year has invested
$1.2 million in capital expenditures for growth initiatives.
FINANCIAL PERFORMANCE SUMMARY
Revenue for the second quarter of 2025 was
Net loss for the second quarter of 2025 was (
Adjusted EBITDA for the second quarter of 2025 was
SECOND QUARTER 2025 CONFERENCE CALL AND WEBCAST
Stabilis will host a conference call on Thursday August 7, 2025, at 9:00 a.m. ET to review the Company's financial results 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 https://investors.stabilis-solutions.com/events. 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: | 833-316-1983 |
International Live: | 785-838-9310 |
Conference ID: | SLNGQ225 |
To listen to a replay of the teleconference, which will be available through August 14, 2025:
Domestic Live: | 800-695-2533 |
International Live: | 402-530-9029 |
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 www.stabilis-solutions.com.
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 www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. 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 share and per share data)
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
Revenues: | ||||||||||||||||||||
Revenues | $ | 17,309 | $ | 17,338 | $ | 18,598 | $ | 34,647 | $ | 38,368 | ||||||||||
Operating expenses: | ||||||||||||||||||||
Cost of revenues | 12,724 | 12,788 | 13,550 | 25,512 | 27,064 | |||||||||||||||
Change in unrealized (gain) loss on natural gas derivatives | 60 | (84 | ) | (82 | ) | (24 | ) | (334 | ) | |||||||||||
Selling, general and administrative expenses | 3,131 | 4,933 | 3,331 | 8,064 | 6,787 | |||||||||||||||
Gain from disposal of fixed assets | - | (103 | ) | (72 | ) | (103 | ) | (199 | ) | |||||||||||
Depreciation expense | 1,860 | 1,867 | 1,768 | 3,727 | 3,568 | |||||||||||||||
Total operating expenses | 17,775 | 19,401 | 18,495 | 37,176 | 36,886 | |||||||||||||||
Income (loss) from operations before equity income | (466 | ) | (2,063 | ) | 103 | (2,529 | ) | 1,482 | ||||||||||||
Net equity income from foreign joint venture operations | 50 | 368 | 295 | 418 | 492 | |||||||||||||||
Income (loss) from operations | (416 | ) | (1,695 | ) | 398 | (2,111 | ) | 1,974 | ||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest income (expense), net | 24 | 21 | 28 | 45 | 24 | |||||||||||||||
Other income (expense), net | (24 | ) | (12 | ) | 26 | (36 | ) | 5 | ||||||||||||
Total other income (expense) | - | 9 | 54 | 9 | 29 | |||||||||||||||
Net income (loss) before income tax (benefit) expense | (416 | ) | (1,686 | ) | 452 | (2,102 | ) | 2,003 | ||||||||||||
Income tax (benefit) expense | 197 | (88 | ) | 425 | 109 | 507 | ||||||||||||||
Net income (loss) | $ | (613 | ) | $ | (1,598 | ) | $ | 27 | $ | (2,211 | ) | $ | 1,496 | |||||||
Net income (loss) per common share: | ||||||||||||||||||||
Basic and diluted per common share | $ | (0.03 | ) | $ | (0.09 | ) | $ | 0.00 | $ | (0.12 | ) | $ | 0.08 | |||||||
EBITDA | $ | 1,420 | $ | 160 | $ | 2,192 | $ | 1,580 | $ | 5,547 | ||||||||||
Adjusted EBITDA | $ | 1,480 | $ | 2,069 | $ | 2,110 | $ | 3,549 | $ | 5,213 |
Stabilis Solutions, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share data)
June 30, | December 31, | |||||||
2025 | 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 12,220 | $ | 8,987 | ||||
Accounts receivable, net | 4,397 | 6,239 | ||||||
Inventories, net | 180 | 345 | ||||||
Prepaid expenses and other current assets | 1,039 | 1,902 | ||||||
Total current assets | 17,836 | 17,473 | ||||||
Property, plant and equipment: | ||||||||
Cost | 118,596 | 117,246 | ||||||
Less accumulated depreciation | (69,048 | ) | (65,518 | ) | ||||
Property, plant and equipment, net | 49,548 | 51,728 | ||||||
Goodwill | 4,314 | 4,314 | ||||||
Investments in foreign joint ventures | 10,760 | 11,659 | ||||||
Right-of-use assets and other noncurrent assets | 786 | 410 | ||||||
Total assets | $ | 83,244 | $ | 85,584 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 5,950 | $ | 5,667 | ||||
Accrued liabilities | 3,456 | 3,566 | ||||||
Current portion of long-term notes payable | 1,295 | 2,010 | ||||||
Current portion of finance and operating lease obligations | 640 | 384 | ||||||
Total current liabilities | 11,341 | 11,627 | ||||||
Long-term notes payable, net of current portion and debt issuance costs | 6,336 | 6,848 | ||||||
Long-term portion of operating lease obligations | 85 | 101 | ||||||
Total liabilities | 17,762 | 18,576 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Common stock; | 19 | 19 | ||||||
Additional paid-in capital | 103,644 | 103,214 | ||||||
Accumulated other comprehensive loss | (323 | ) | (578 | ) | ||||
Accumulated deficit | (37,858 | ) | (35,647 | ) | ||||
Total stockholders' equity | 65,482 | 67,008 | ||||||
Total liabilities and stockholders' equity | $ | 83,244 | $ | 85,584 |
Stabilis Solutions, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||
Net income (loss) | $ | (613 | ) | $ | (1,598 | ) | $ | 27 | $ | (2,211 | ) | $ | 1,496 | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||
Depreciation | 1,860 | 1,867 | 1,768 | 3,727 | 3,568 | |||||||||||||||
Stock-based compensation expense | - | 447 | 408 | 447 | 791 | |||||||||||||||
Bad debt expense (recovery) | 106 | 7 | (100 | ) | 113 | 68 | ||||||||||||||
Gain on disposal of assets | - | (103 | ) | (72 | ) | (103 | ) | (199 | ) | |||||||||||
Income from equity investment in joint venture | (120 | ) | (417 | ) | (340 | ) | (537 | ) | (587 | ) | ||||||||||
Cash settlements from natural gas derivatives, net | 76 | 163 | (359 | ) | 239 | (359 | ) | |||||||||||||
AG真人官方ized and unrealized (gains) losses on natural gas derivatives, net | 225 | (84 | ) | 30 | 141 | 30 | ||||||||||||||
Distributions from equity investment in joint venture | 1,637 | - | 1,716 | 1,637 | 1,716 | |||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||
Accounts receivable | 205 | 1,540 | (228 | ) | 1,745 | 1,736 | ||||||||||||||
Prepaid expenses and other current assets | 213 | 423 | 445 | 636 | 680 | |||||||||||||||
Accounts payable and accrued liabilities | 898 | (1,229 | ) | 1,679 | (331 | ) | (133 | ) | ||||||||||||
Other | 28 | 9 | 64 | 37 | 160 | |||||||||||||||
Net cash provided by operating activities | 4,515 | 1,025 | 5,038 | 5,540 | 8,967 | |||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisition of fixed assets | (635 | ) | (487 | ) | (1,376 | ) | (1,122 | ) | (2,249 | ) | ||||||||||
Proceeds from sale of fixed assets | - | 211 | 72 | 211 | 279 | |||||||||||||||
Net cash used in investing activities | (635 | ) | (276 | ) | (1,304 | ) | (911 | ) | (1,970 | ) | ||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Payments on short- and long-term notes payable and finance leases | (680 | ) | (671 | ) | (529 | ) | (1,351 | ) | (875 | ) | ||||||||||
Payment of debt issuance costs | - | (42 | ) | - | (42 | ) | - | |||||||||||||
Employee tax payments from restricted stock withholdings | - | (17 | ) | - | (17 | ) | (9 | ) | ||||||||||||
Net cash used in financing activities | (680 | ) | (730 | ) | (529 | ) | (1,410 | ) | (884 | ) | ||||||||||
Effect of exchange rate changes on cash | 17 | (3 | ) | (8 | ) | 14 | (4 | ) | ||||||||||||
Net increase in cash and cash equivalents | 3,217 | 16 | 3,197 | 3,233 | 6,109 | |||||||||||||||
Cash and cash equivalents, beginning of period | 9,003 | 8,987 | 8,286 | 8,987 | 5,374 | |||||||||||||||
Cash and cash equivalents, end of period | $ | 12,220 | $ | 9,003 | $ | 11,483 | $ | 12,220 | $ | 11,483 |
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 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 U.S. ("GAAP"). Accordingly, they should not be used as an indicator of, or an alternative to, net income (loss) 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 (loss), the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA (in thousands).
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
Net income (loss) | $ | (613 | ) | $ | (1,598 | ) | $ | 27 | $ | (2,211 | ) | $ | 1,496 | |||||||
Depreciation | 1,860 | 1,867 | 1,768 | 3,727 | 3,568 | |||||||||||||||
Interest expense (income), net | (24 | ) | (21 | ) | (28 | ) | (45 | ) | (24 | ) | ||||||||||
Income tax (benefit) expense | 197 | (88 | ) | 425 | 109 | 507 | ||||||||||||||
EBITDA | 1,420 | 160 | 2,192 | 1,580 | 5,547 | |||||||||||||||
Special items* | 60 | 1,909 | (82 | ) | 1,969 | (334 | ) | |||||||||||||
Adjusted EBITDA | $ | 1,480 | $ | 2,069 | $ | 2,110 | $ | 3,549 | $ | 5,213 |
* Special items for all periods presented consist of adjustments related to unrealized (gain)/loss on natural gas derivatives. The three months ended March 31, 2025 and the six months ended June 30, 2025 also include an add-back of
# # # # #
Investor Contact:
Andrew Puhala
Chief Financial Officer
832-456-6502
[email protected]
SOURCE: Stabilis Solutions
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