v3.26.3
Consolidated Balance Sheets - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Current assets      
Cash and cash equivalents $ 144,924,000 $ 103,054,000 $ 94,020,000
Accounts receivable (net of allowance of $6,411 and $6,017 at September 30, 2026 and December 31, 2025, respectively) 64,275,000 55,854,000  
Inventories 58,687,000 28,389,000  
Advance hire, prepaid expenses and other current assets 42,541,000 28,478,000  
Total current assets 310,426,000 215,776,000  
Restricted cash 270,000 270,000  
Fixed assets, at cost, net of accumulated depreciation of $208,154 and $179,988 at September 30, 2026 and December 31, 2025, respectively 661,687,000 677,518,000  
Finance lease right of use assets, at cost, net of accumulated depreciation of $7,862 and $12,678 at September 30, 2026 and December 31, 2025, respectively 16,138,000 26,866,000  
Goodwill 3,105,000 3,105,000  
Other non-current assets 4,369,000 4,561,000  
Total assets 995,995,000 928,096,000  
Current liabilities      
Accounts payable 42,797,000 30,389,000 30,389,000
Accrued expenses and other current liabilities 46,416,000   23,868,000
Affiliated companies payable 1,331,000 806,000  
Deferred revenue 38,132,000 24,891,000  
Current portion of secured long-term debt 37,758,000 16,910,000  
Current portion of financing obligations 35,775,000 27,896,000  
Current portion of finance lease liabilities 1,000,000 2,076,000  
Dividend payable 714,000 1,198,000  
Total current liabilities 203,922,000 128,034,000  
Secured long-term debt, net 64,838,000 97,157,000  
Financing obligations, net 191,237,000 219,774,000  
Finance lease liabilities, net 7,665,000 8,395,000  
Total noncurrent liabilities 263,739,000 325,326,000  
Commitments and contingencies - Note 9  
Stockholders' equity:      
Common stock, $0.0001 par value, 100,000,000 shares authorized; 65,473,772 shares issued and outstanding at September 30, 2026; 64,973,988 shares issued and outstanding at December 31, 2025 7,000 7,000  
Additional paid-in capital 260,047,000 257,072,000  
Retained earnings 220,934,000 172,255,000  
Total Pangaea Logistics Solutions Ltd. equity 480,988,000 429,333,000  
Non-controlling interests 47,345,000 45,403,000  
Total stockholders' equity 528,333,000 474,736,000 $ 465,560,000
Total liabilities and stockholders' equity $ 995,995,000 $ 928,096,000