Stabilis Solutions (SLNG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $11.9 million, down 31% year-over-year due to the conclusion of major contracts, partially offset by strong aerospace growth.

• Net loss for Q2 2026 was $4.6 million, compared to $0.6 million in Q2 2025, driven by lower revenues and vessel charter costs.

• Adjusted EBITDA was $0.1 million, excluding $2.9 million in extraordinary vessel charter costs.

• Data center power generation and aerospace are primary growth drivers, with new contracts secured and more in the pipeline.

• 2026 is seen as a pivotal year, setting up for record revenue and profitability in 2027, with management projecting revenues to exceed $100 million.

Financial highlights

• Q2 2026 revenue: $11.9 million, down from $17.3 million in Q2 2025.

• Net loss per share: $(0.25) for Q2 2026, compared to $(0.03) in Q2 2025.

• Adjusted EBITDA for Q2 2026: $0.1 million, down from $1.5 million in Q2 2025.

• Cash flow from operations was $7.1 million in Q2 2026, including $5 million in advance payments for a major 2027 contract.

• Total liquidity at quarter end was $18.9 million, with $4.5 million in unrestricted cash and $14.3 million in restricted cash.

Outlook and guidance

• Second half 2026 revenues expected to increase by over 50% compared to the first half.

• 2027 revenues projected to exceed $100 million, driven by a large data center bridge power contract.

• LNG deliveries for the new data center contract are expected to begin in Q1 2027, with total contract revenue estimated at $200 million.

• Adjusted EBITDA margin expected to expand to the high-teens as revenue scales in 2027.

• Improved profitability and cash flow expected following vessel charter termination and new contract wins.