Pangaea Logistics Solutions Ltd.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
PANL$7.57+2.7%Stored close · as of Nov 6, 2026
Contents
Unaudited condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024
Condensed Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $94,020,373 | $86,805,470 |
| Accounts receivable (net of allowance of $5,700,641 and $5,492,901 at September 30, 2025 and December 31, 2024, respectively) | 45,566,001 | 42,370,830 |
| Inventories | 36,137,876 | 32,848,241 |
| Advance hire, prepaid expenses and other current assets | 30,258,855 | 29,969,352 |
| Vessel held for sale | 6,639,652 | — |
| Total current assets | 212,622,757 | 191,993,893 |
| Restricted cash | 269,610 | — |
| Fixed assets, net | 683,944,545 | 707,826,328 |
| Right of use assets, net | 27,405,780 | 28,771,531 |
| Goodwill | 3,104,800 | 3,104,800 |
| Other non-current assets | 4,798,137 | 4,760,529 |
| Total assets | $932,145,629 | $936,457,081 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable, accrued expenses and other current liabilities | $64,240,121 | $46,581,567 |
| Affiliated companies payable | 272,916 | 1,181,015 |
| Deferred revenue | 18,288,146 | 15,447,488 |
| Current portion of secured long-term debt | 16,696,990 | 16,576,195 |
| Current portion of financing obligations | 27,746,924 | 25,267,105 |
| Current portion of finance lease liabilities | 2,536,458 | 2,843,750 |
| Dividend payable | 1,143,501 | 1,210,991 |
| Total current liabilities | 130,925,056 | 109,108,111 |
| Non current liabilities | ||
| Secured long-term debt, net | 100,683,757 | 112,720,545 |
| Financing obligations, net | 226,339,082 | 229,529,792 |
| Finance lease liabilities, net | 8,637,411 | 10,434,298 |
| Total non current liabilities | 335,660,250 | 352,684,635 |
| Stockholders' equity: | ||
| Common stock, $0.0001 par value, 100,000,000 shares authorized; 65,176,619 shares issued and outstanding at September 30, 2025; 64,961,433 shares issued and outstanding at December 31, 2024 | 6,520 | 6,498 |
| Additional paid-in capital | 256,663,813 | 258,659,972 |
| Retained earnings | 163,591,591 | 169,155,149 |
| Total Pangaea Logistics Solutions Ltd. equity | 420,261,924 | 427,821,619 |
| Non-controlling interests | 45,298,399 | 46,842,716 |
| Total stockholders' equity | 465,560,323 | 474,664,335 |
| Total liabilities and stockholders' equity | $932,145,629 | $936,457,081 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.