Stabilis Solutions, Inc. Q3 FY2025 earnings call

• Third quarter volume increased by more than 20% YOY driven by strong demand in marine, aerospace, and power generation sectors.
• Secured the largest customer contract in company history, a 10-year marine bunkering contract. Expect to break ground on Galveston facility in Q1 2026 and target it to come online late 2027.
• Plan to construct Jones Act compliant LNG bunkering vessel. Target 75% of Galveston facility capacity sold under long-term contracts by early 2026 FID.
• Worked with engineering partners to secure long lead-time items and finalize equipment contracts. Pursuing joint-venture financing for the project.

Third quarter revenue increased 15% year-over-year. Aerospace revenues increased by more than 88% YOY, power generation by 31%, and marine by 32%. Approximately 73% of total revenue was derived from aerospace, marine, and power generation customers.

• Expect to break ground on Galveston facility in Q1 2026 and target it to come online late 2027.
• Aim to have approximately 75% of the total capacity at Galveston facility sold under long-term customer contracts by early 2026 FID.
• Intend to pursue a joint-venture structure for project financing, retaining operational control.

• Forward-looking statements subject to risks and uncertainties that may cause actual results to differ from projections.
• Uncertainties related to project permitting (e.g., Texas Railroad Commission, Coast Guard) and project financing.

Q: Any key permits to watch for the Galveston project?

A: Permits like Texas Railroad Commission for the facility and Coast Guard for the bunkering operation are being tracked, and progress is ongoing.

Q: Details on growth in aerospace and power generation?

A: Aerospace demand up due to increased space activity; power generation demand driven by distributed power needs for data centers. Working on optimizing capacity to meet demand, including plans for additional LNG trains.

Q: Industry of the marine client in late-stage discussions?

A: Could be cruise, container ships, or third-party traders in the bunkering space.

Q: What about the stock block at $5?

A: Stabilis doesn't know who is offering the 100,000 share block at $5.

Q: Is data center demand included in power generation?

A: Yes, distributed power needs for data centers are part of the power generation demand discussed.