v3.26.1
Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 48,065 $ 48,244
Restricted cash 5,109 8,109
Accounts receivable trade, net 1,037 871
Inventories 1,836 1,634
Prepaid expenses 2,885 3,444
Due from related parties $ 6,634 $ 9,100
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Other current assets $ 1,858 $ 1,950
Foreign exchange forward contract 0 46
Net investment in sales type lease, current 2,760 0
Intangible assets 1,931 1,493
Total current assets 72,115 74,891
Fixed assets:    
Vessels, net 443,216 506,542
Vessels under construction 70,161 118
Other fixed assets, net 124 160
Total fixed assets 513,501 506,820
Other non-current assets:    
Deferred charges and other investments, non-current 23,201 17,426
Restricted cash, non-current 6,300 6,300
Net investment in sales type lease, non-current 22,268 0
Advances in finance lease contracts 3,883 0
Intangible assets, non-current 1,175 67
Operating lease, right of use asset 159 214
Investment in equity securities 830 830
Other non-current assets 30 31
TOTAL ASSETS 643,462 606,579
Current liabilities:    
Current portion of long-term debt and other financial liabilities, net of deferred finance costs and debt discounts of $1,249 and $1,963, respectively 46,791 54,940
Trade accounts and other payables 8,963 13,123
Accrued liabilities 15,548 12,222
Operating lease liability, current 93 98
Deferred revenue 2,570 4,934
Financial instruments 68 0
Other current liabilities 6,647 2,745
Total current liabilities 80,680 88,062
Non-current liabilities:    
Long-term debt and other financial liabilities, net of current portion and deferred finance costs and debt discounts of $2,360 and $1,835, respectively 248,076 235,220
Operating lease liability, non-current 66 116
Other liabilities, non-current 1,531 1,798
Total liabilities 330,353 325,196
Commitments and contingencies
STOCKHOLDERS EQUITY    
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; 20,000 and 20,000 shares issued and outstanding as at June 30, 2026 and December 31, 2025, respectively 0 0
Common stock, $0.0001 par value; 500,000,000 authorized shares as at June 30, 2026 and December 31, 2025; 21,668,198 and 21,114,098 shares issued and outstanding as at June 30, 2026 and December 31, 2025, respectively 2 2
Additional paid-in capital 605,345 600,845
Accumulated deficit (292,238) (319,464)
Total Stockholders' equity 313,109 281,383
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 643,462 $ 606,579