Stabilis Solutions, Inc. (SLNG) released preliminary results for its fourth quarter of 2025, reporting revenue in the range of $13.0 million to $13.5 million, a net loss of $0.3 million to $0.5 million, and adjusted EBITDA of $1.4 million to $1.6 million. The figures are preliminary and will be finalized in the company’s full earnings release on March 4‑5, 2026.
The revenue range reflects a mix of continued demand for Stabilis’ last‑mile LNG solutions and the loss of two multi‑year contracts that accounted for 51 % of 2025 revenue. Compared with the $20.3 million revenue reported in Q3 2025, the preliminary Q4 figure represents a decline, underscoring the transitional nature of 2026 as the company redeploys assets after the contract expirations. The net loss is largely attributable to the transition costs and the absence of the high‑margin contracts that previously supported profitability.
Stabilis’ net loss is offset by a modest adjusted EBITDA margin that remains positive, indicating that operating leverage is still being realized. The company’s prior quarter (Q4 2024) posted a net income of $2.1 million and an adjusted EBITDA of $4.0 million, a 23.2 % margin, highlighting the impact of the contract wind‑downs on profitability in the current quarter.
In addition to the earnings update, Stabilis announced a new take‑or‑pay LNG supply agreement valued at approximately $200 million for a behind‑the‑meter data‑center power application. The contract is expected to generate about $100 million in annual revenue, exceeding any prior full‑year revenue, and deliveries will begin in the first quarter of 2027 and continue through the first quarter of 2029. This deal marks a strategic pivot toward high‑value, long‑term contracts in the data‑center power market, providing the company with a predictable revenue stream and a foothold in a rapidly growing sector.
The company also reported progress on its Galveston LNG project, which is moving toward a final investment decision by the end of Q1 2026. Capital needs are estimated at $350 million to $400 million, and customer commitments cover about 56 % of the planned 350,000 gallons‑per‑day capacity. The project’s advancement signals Stabilis’ commitment to scaling liquefaction capacity and diversifying its portfolio beyond last‑mile solutions.
"Looking ahead, 2027 is shaping up to be a historic year for Stabilis," said Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer. "Given current contract commitments, customer indications of interest, and preliminary expectations for our Galveston LNG facility to be on‑stream by year‑end 2027, we’re building steady momentum toward a positive inflection in our business, one guided by a continued focus on disciplined execution, financial conservatism, and a returns‑driven approach toward capital allocation." "The recently awarded multi‑year contract for LNG for behind‑the‑meter power will be transformational for the Company," Crenshaw added. "On an annualized basis, we expect this contract will represent approximately $100 million in revenue – more than our total, consolidated annual revenue in any year since our inception, with an anticipated contract commencement planned for the first quarter 2027. In addition to providing us longer‑term demand certainty, this contract provides a definitive, high‑value entry point into the data center power generation market, a key area of strategic focus for our organization."
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