Stabilis Solutions, Inc.

Stabilis Solutions, Inc.'s subsidiary, Stabilis GDS, has terminated its time charter agreement with Seaspan Energy Ltd. for the liquefied natural gas bunkering vessel Seaspan Garibaldi. The termination, effective June 24, 2026, follows the Owners' exercise of a termination option. Stabilis GDS is now obligated to pay an early termination fee of $750,000 by January 1, 2027, and approximately $1.1 million in previously accrued amounts during the third quarter of 2026.

Stabilis Solutions reported a significant decline in Q1 2026 revenues to $10.38 million, a 40% decrease year-over-year, and a widened net loss of $4.08 million, or $(0.22) per share. Despite the weaker quarterly financial performance, the company secured a $15.0 million advance payment for a multi-year data center power generation contract, contributing to a substantial increase in operating cash flow and deferred revenue. The company also entered into a new operating lease for a marine bunkering vessel, expanding its asset base.

Stabilis Solutions reported Q1 2026 revenues of $10.4 million, a 40.2% decrease year-over-year, and a net loss of ($4.1) million. Adjusted EBITDA was ($0.7) million. Despite the soft quarter, the company secured a $200 million LNG supply contract for a data center, commencing Q1 2027, and generated $12.4 million in cash flow from operations, including $15.0 million in advance payments. Management anticipates significant improvement in the second half of 2026.