Overview

• U.S. clean fueling provider's Q1 revenue fell 40% yr/yr after large contract completions

• Company posted wider net loss and negative adjusted EBITDA for Q1

• Secured $200 mln LNG supply contract for U.S. data center, starting Q1 2027

Outlook

• Company expects results to significantly improve in second half of 2026

• Stabilis expects new data center contracts to commence in Q2 2026

• Company preparing for ramp-up of large data center contract in early 2027

Result Drivers

• CONTRACT COMPLETIONS - Revenue decline primarily due to completion of contracts in marine and power generation sectors

• VESSEL CHARTER EXPENSES - Net loss reflects $1.5 mln in vessel charter expenses for a marine vessel being subchartered

• AEROSPACE GROWTH - Aerospace revenues grew 31% yr/yr, partially offsetting declines in other sectors

Company press release: ID:nACSNZpR9a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS	Miss	-$0.22	-$0.02 (1 Analyst)
Q1 Net Income	Miss	-$4.1 mln	-$500,000 (1 Analyst)
Q1 Adjusted EBITDA	Miss	-$672,000	$1.40 mln (1 Analyst)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas transportation services peer group is "buy"

• Wall Street's median 12-month price target for Stabilis Solutions Inc is $9.00, about 119.5% above its May 5 closing price of $4.10

• The stock recently traded at 60 times the next 12-month earnings vs. a P/E of 278 three months ago

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