Pangaea Logistics Solutions Ltd.
For the period ended Jun 30, 2026. Filed Aug 10, 2026.
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.
Jun 30, 2026 · Filed Aug 10, 2026
PANL$7.57+2.7%Stored close · as of Nov 6, 2026
Contents
Unaudited Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025
Condensed Consolidated Balance Sheets
| June 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $105,675 | $103,054 |
| Accounts receivable (net of allowance of $6,536 and $6,017 at June 30, 2026 and December 31, 2025, respectively) | 59,147 | 55,854 |
| Inventories | 51,095 | 28,389 |
| Advance hire, prepaid expenses and other current assets | 50,027 | 28,478 |
| Total current assets | 265,944 | 215,776 |
| Restricted cash | 270 | 270 |
| Fixed assets, at cost, net of accumulated depreciation of $200,962 and $179,988 at June 30, 2026 and December 31, 2025, respectively | 667,189 | 677,518 |
| Finance lease right of use assets, at cost, net of accumulated depreciation of $7,648 and $12,678 at June 30, 2026 and December 31, 2025, respectively | 16,376 | 26,866 |
| Goodwill | 3,105 | 3,105 |
| Other non-current assets | 3,792 | 4,561 |
| Total assets | $956,677 | $928,096 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable, accrued expenses and other current liabilities | $83,012 | $54,257 |
| Affiliated companies payable | 1,085 | 806 |
| Deferred revenue | 27,805 | 24,891 |
| Current portion of secured long-term debt | 40,155 | 16,910 |
| Current portion of financing obligations | 38,521 | 27,896 |
| Current portion of finance lease liabilities | 1,000 | 2,076 |
| Dividend payable | 607 | 1,198 |
| Total current liabilities | 192,184 | 128,034 |
| Noncurrent liabilities | ||
| Secured long-term debt, net | 66,542 | 97,157 |
| Financing obligations, net | 195,360 | 219,774 |
| Finance lease liabilities, net | 7,909 | 8,395 |
| Total noncurrent liabilities | 269,811 | 325,326 |
| Stockholders' equity: | ||
| Common stock, $0.0001 par value, 100,000,000 shares authorized; 65,473,772 shares issued and outstanding at June 30, 2026; 64,973,988 shares issued and outstanding at December 31, 2025 | 7 | 7 |
| Additional paid-in capital | 259,394 | 257,072 |
| Retained earnings | 189,228 | 172,255 |
| Total Pangaea Logistics Solutions Ltd. equity | 448,629 | 429,333 |
| Non-controlling interests | 46,053 | 45,403 |
| Total stockholders' equity | 494,682 | 474,736 |
| Total liabilities and stockholders' equity | $956,677 | $928,096 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.