For the quarter ending 2026-03-31, PANL has $950,695,000 in assets. $89,744,000 in cash and cash equivalents.
| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 89,744,000 | 103,054,000 | 94,020,373 | 59,252,910 |
| Accounts receivable (net of allowance of 6,642 and 6,017 at march31, 2026 and december31, 2025, respectively) | 61,280,000 | 55,854,000 | 45,566,001 | 49,325,656 |
| Inventories | 40,262,000 | 28,389,000 | 36,137,876 | 38,583,748 |
| Advance hire, prepaid expenses and other current assets | 50,120,000 | 28,478,000 | 30,258,855 | 29,300,653 |
| Vessel held for sale | 9,384,000 | - | 6,639,652 | 7,545,828 |
| Total current assets | 250,790,000 | 215,776,000 | 212,622,757 | 184,008,795 |
| Restricted cash | 270,000 | 270,000 | 269,610 | - |
| Fixed assets, at cost, net of accumulated depreciation of 191,074 and 179,988 at march31, 2026 and december31, 2025, respectively | 674,958,000 | 677,518,000 | 683,944,545 | 694,403,690 |
| Finance lease right of use assets, at cost, net of accumulated depreciation of 7,465 and 12,678 at march31, 2026 and december31, 2025, respectively | 16,580,000 | 26,866,000 | 27,405,780 | 27,911,848 |
| Goodwill | 3,105,000 | 3,105,000 | 3,104,800 | 3,104,800 |
| Other non-current assets | 4,991,000 | 4,561,000 | 4,798,137 | 6,566,313 |
| Total assets | 950,695,000 | 928,096,000 | 932,145,629 | 915,995,446 |
| Accounts payable, accrued expenses and other current liabilities | 72,684,000 | 54,257,000 | 64,240,121 | 61,401,165 |
| Long-term debt and finance lease obligation | - | 322,449,000 | - | - |
| Note payable | - | 806,000 | - | - |
| Affiliated companies payable | 1,867,000 | - | 272,916 | 61,694 |
| Long-term debt and lease obligation, undiscounted excess amount | - | 72,807,000 | - | - |
| Deferred revenue | 28,708,000 | 24,891,000 | 18,288,146 | 18,491,044 |
| Long-term debt and lease obligation | - | 249,642,000 | - | - |
| Current portion of secured long-term debt | 16,985,000 | 16,910,000 | 16,696,990 | 16,656,227 |
| Unamortized debt issuance expense | - | 1,972,000 | - | - |
| Current portion of financing obligations | - | 27,896,000 | - | - |
| Current portion of financing obligations | 31,764,000 | 27,896,000 | 27,746,924 | 25,438,710 |
| Current portion of finance lease liabilities | 1,000,000 | 2,076,000 | 2,536,458 | 2,843,750 |
| Dividend payable | 577,000 | 1,198,000 | 1,143,501 | 1,117,125 |
| Total current liabilities | 153,586,000 | 128,034,000 | 130,925,056 | 126,009,715 |
| Secured long-term debt, net | 93,156,000 | 97,157,000 | 100,683,757 | 104,712,469 |
| Financing obligations, net | 208,969,000 | 219,774,000 | 226,339,082 | 217,110,667 |
| Finance lease liabilities, net | 8,153,000 | 8,395,000 | 8,637,411 | 9,032,282 |
| Total non current liabilities | 310,278,000 | - | - | - |
| Common stock, 0.0001 par value, 100,000,000 shares authorized 65,414,923 shares issued and outstanding at march31, 2026 64,973,988 shares issued and outstanding at december31, 2025 | 7,000 | 7,000 | 6,520 | 6,539 |
| Additional paid-in capital | 258,771,000 | 257,072,000 | 256,663,813 | 259,733,610 |
| Retained earnings | 182,280,000 | 172,255,000 | 163,591,591 | 154,612,941 |
| Total pangaea logistics solutions ltd. equity | 441,058,000 | 429,333,000 | 420,261,924 | 414,353,090 |
| Non-controlling interests | 45,773,000 | 45,403,000 | 45,298,399 | 44,777,223 |
| Total stockholders' equity | 486,831,000 | 474,736,000 | 465,560,323 | 459,130,313 |
| Total liabilities and stockholders' equity | 950,695,000 | 928,096,000 | 932,145,629 | 915,995,446 |
Pangaea Logistics Solutions Ltd. (PANL)
Pangaea Logistics Solutions Ltd. (PANL)