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Heidmar Maritime Holdings (HMR) investor relations material
Heidmar Maritime Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Q3 2025 revenues reached $15.6 million, up 117% year-over-year, driven by managed fleet growth and new charter contracts, including the PSV ACE Supplier.
Q3 2025 net profit from continuing operations was $1.2 million, with adjusted net income of $1.8 million after excluding $0.7 million in stock-based compensation.
Nine-month 2025 revenues totaled $30.8 million, up from $23.6 million in 2024, but resulted in a consolidated net loss from continuing operations of $4.8 million, impacted by Nasdaq listing costs, stock-based compensation, and executive bonuses.
Discontinued operations, mainly from the sale of Americana Liberty, resulted in a $13.8 million net loss, including $11.2 million goodwill impairment.
Sale of loss-making subsidiary Heidmar Trading DMCC generated a net gain of $61,000 and simplified the corporate structure.
Financial highlights
Q3 2025 adjusted net income was $1.8 million, up from $1.2 million after excluding non-cash stock-based compensation.
Q3 2025 revenues increased by $8.4 million year-over-year to $15.6 million.
Nine-month 2025 revenues were $30.8 million, up from $23.6 million in 2024.
G&A expenses for Q3 2025 were $3.1 million, up from $2.7 million in Q3 2024, mainly due to stock-based compensation.
Cash and cash equivalents at September 30, 2025: $9.1 million, down from $20.0 million at year-end 2024.
Outlook and guidance
Strong tanker freight rates expected in Q4 2025 and Q1 2026, especially benefiting larger tankers.
Revenue and profit growth anticipated as fleet expands and market conditions remain favorable.
Delivery of the container vessel ADOR XX and additional contracted revenue from C/V A. Obelix expected in Q4.
Focus remains on disciplined execution, measured growth, and leveraging an integrated maritime platform for sustainable value creation.
Assess the strategic shift from pools to commercial management
Evaluate the sustainability of opportunistic charter revenue
Analyze reliance on Capital for future fleet expansion
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Next Heidmar Maritime Holdings earnings date
Q4 202520 Feb, 2026
Next Heidmar Maritime Holdings earnings date
Q4 202520 Feb, 2026
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