Stabilis Solutions, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 4, 2026, reporting a return to quarterly net income after a year-to-date net loss.

Key Highlights

  • Q3 2026 Revenue: Revenues for the three months ended September 30, 2026 were $14,839 thousand, compared with $20,325 thousand in the same period of 2025, according to the filing.
  • Q3 Net Income: The company reported net income of $189 thousand ($0.01 per basic and diluted share) for the third quarter of 2026, versus net income of $1,119 thousand ($0.06 per share) in Q3 2025.
  • Nine-Month Net Loss: For the nine months ended September 30, 2026, the company reported a net loss of $8,524 thousand ($0.46 per basic and diluted share), compared with a net loss of $1,092 thousand ($0.06 per share) for the same period in 2025.
  • Deferred Revenue Surge: Total deferred revenue rose to $25,011 thousand at September 30, 2026 (current portion $3,793 thousand; noncurrent $21,218 thousand), from just $1 thousand at December 31, 2025.
  • Restricted Cash: Restricted cash and cash equivalents stood at $16,839 thousand at September 30, 2026, compared with zero at December 31, 2025.
  • Total Assets: Total assets were $102,368 thousand at September 30, 2026, up from $83,110 thousand at December 31, 2025.
  • Shares Outstanding: As of November 2, 2026, there were 18,596,301 shares of common stock outstanding.

Stabilis Solutions Q3 2026 Financial Results: Revenue Decline and Year-to-Date Loss

According to the filing, Stabilis Solutions, Inc. (NASDAQ:SLNG) reported revenues of $14,839 thousand for the three months ended September 30, 2026, a decline from $20,325 thousand in the third quarter of 2025. Despite the revenue decrease, the company returned to profitability in the quarter, with income from operations of $163 thousand and net income of $189 thousand, compared with net income of $1,119 thousand in Q3 2025. The filing attributes operating expenses of $14,772 thousand in Q3 2026, including cost of revenues of $10,506 thousand and depreciation and amortization of $1,748 thousand.

For the nine months ended September 30, 2026, the company disclosed revenues of $37,134 thousand, against $54,972 thousand in the comparable prior-year period. The year-to-date loss from operations was $8,462 thousand, with net loss of $8,524 thousand. The filing notes that nine-month operating expenses included a time charter expense of $4,342 thousand and an impairment charge of $71 thousand, neither of which appeared in the comparable 2025 period. Selling, general and administrative expenses for the nine months were $7,814 thousand, compared with $10,847 thousand in 2025.

The balance sheet showed notable changes compared with December 31, 2025. The filing reports that restricted cash and cash equivalents increased to $16,839 thousand from zero, and deferred revenue - both current and noncurrent - rose substantially to a combined $25,011 thousand. Cash and cash equivalents decreased to $1,535 thousand from $7,459 thousand. The accumulated deficit widened to $45,525 thousand from $37,001 thousand, reducing total stockholders' equity to $58,747 thousand from $66,672 thousand. Net equity income from foreign joint venture operations contributed $96 thousand in Q3 2026 and $538 thousand year-to-date, the filing disclosed. The company's forward-looking statements are subject to its cautionary language as described in the filing.

What Was Disclosed

Stabilis Solutions filed its quarterly report for the period ended September 30, 2026, disclosing a third-quarter net income of $189 thousand, a year-to-date net loss of $8,524 thousand, and significant increases in restricted cash and deferred revenue relative to year-end 2025.