Stabilis Solutions Inc
NASDAQ:SLNG
Stabilis Solutions Inc
Stabilis Solutions, Inc. engages in the provision of small-scale liquefied natural gas production, distribution, and fueling services to multiple end markets. The company is headquartered in Houston Alabama, Texas and currently employs 249 full-time employees. The firm operates through two segments: LNG and Power Delivery. The Company’s LNG segment provides clean energy production, storage, transportation and fueling solutions primarily using liquefied natural gas (LNG) to multiple end markets across North America. Its Power Delivery segment provides power delivery equipment and services for the marine, power generation, oil and gas, and industrial market segments in Brazil. The company also offers a range of electrical and instrumentation turnarounds, maintenance and renovation projects. The company provides LNG as a virtual pipeline solution when natural gas pipelines are not available, or volumes are curtailed. The firm builds and operates cryogenic natural gas processing facilities, called liquefiers, which convert natural gas into LNG through a multiple stage cooling process. The company operates a rental fleet of approximately 162 mobile LNG storage and vaporization assets.
Stabilis Solutions, Inc. engages in the provision of small-scale liquefied natural gas production, distribution, and fueling services to multiple end markets. The company is headquartered in Houston Alabama, Texas and currently employs 249 full-time employees. The firm operates through two segments: LNG and Power Delivery. The Company’s LNG segment provides clean energy production, storage, transportation and fueling solutions primarily using liquefied natural gas (LNG) to multiple end markets across North America. Its Power Delivery segment provides power delivery equipment and services for the marine, power generation, oil and gas, and industrial market segments in Brazil. The company also offers a range of electrical and instrumentation turnarounds, maintenance and renovation projects. The company provides LNG as a virtual pipeline solution when natural gas pipelines are not available, or volumes are curtailed. The firm builds and operates cryogenic natural gas processing facilities, called liquefiers, which convert natural gas into LNG through a multiple stage cooling process. The company operates a rental fleet of approximately 162 mobile LNG storage and vaporization assets.
Revenue impact: Q4 revenue fell 23% YoY, largely because two large multiyear contracts (marine bunkering with Carnival and a power generation contract in Louisiana) ended during the quarter.
Profitability: Adjusted EBITDA was $1.5 million in Q4 (11.5% margin), down from $4.0 million (23.2% margin) a year earlier.
New large award: Company won an estimated $200 million, 2-year behind-the-meter data center contract (deliveries begin 2027) — the largest contract in company history.
Near-term outlook: Management expects lower revenue and profitability in 1H 2026 while the business bridges to new contract start-ups in mid‑2026 and early‑2027; multiyear growth visibility begins in 2027.
Galveston FID progress: 56% of planned Galveston liquefaction capacity has offtake commitments; management is negotiating project-level debt/equity and pursuing FID via an SPV structure.
Liquidity & cash flow: Q4 cash from operations was approximately $670,000; quarter-end liquidity totaled $10.2 million (cash $7.5M + $2.7M available credit).
Equipment & supply constraints: Shortage of Jones Act LNG bunkering vessels (about 5–6 in the U.S.) constrained ability to extend the Carnival bunkering contract; logistics and on-site equipment are gating factors for scaling data center work.
