New Risk • Apr 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$400k net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$51.2m market cap). Reported Earnings • Mar 18
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: US$0.08 loss per share (down from US$0.021 profit in FY 2024). Revenue: US$44.2m (up 27% from FY 2024). Net loss: US$1.75m (down US$2.18m from profit in FY 2024). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 64%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 1.3% growth forecast for the Shipping industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 134 percentage points per year, which is a significant difference in performance. New Risk • Mar 17
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.8m net loss next year). Market cap is less than US$100m (US$34.8m market cap). Major Estimate Revision • Dec 05
Consensus estimates of losses per share improve by 44% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$39.7m to US$42.4m. EPS estimate increased from -US$0.39 per share to -US$0.22 per share. Shipping industry in the US expected to see average net income growth of 11% next year. Consensus price target of US$3.00 unchanged from last update. Share price rose 37% to US$1.84 over the past week. New Risk • Dec 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$3.2m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$33.5m market cap). Reported Earnings • Nov 29
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.04 (up from US$0.027 loss in 3Q 2024). Revenue: US$12.6m (up 41% from 3Q 2024). Net income: US$725.0k (up US$1.28m from 3Q 2024). Profit margin: 5.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Aankondiging • Nov 26
Globus Maritime Limited to Report Q3, 2025 Results on Nov 28, 2025 Globus Maritime Limited announced that they will report Q3, 2025 results After-Market on Nov 28, 2025 Major Estimate Revision • Sep 26
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from US$35.9m to US$39.7m. Forecast losses expected to reduce from -US$0.50 to -US$0.39 per share. Shipping industry in the US expected to see average net income growth of 13% next year. Consensus price target of US$3.00 unchanged from last update. Share price fell 15% to US$1.11 over the past week. Reported Earnings • Sep 21
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: US$0.09 loss per share (down from US$0.16 profit in 2Q 2024). Revenue: US$9.54m (flat on 2Q 2024). Net loss: US$1.87m (down 157% from profit in 2Q 2024). Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 2.0% decline forecast for the Shipping industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 18
Globus Maritime Limited to Report Q2, 2025 Results on Sep 19, 2025 Globus Maritime Limited announced that they will report Q2, 2025 results After-Market on Sep 19, 2025 Aankondiging • Aug 12
Globus Maritime Limited, Annual General Meeting, Sep 25, 2025 Globus Maritime Limited, Annual General Meeting, Sep 25, 2025, at 11:00 GTB Standard Time. Location: at the offices of globus shipmanagement corp., 128 vouliagmenis avenue glyfada, attica, Greece New Risk • Jul 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$8.9m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$23.2m market cap). New Risk • Jun 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 35% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$8.9m net loss next year). Market cap is less than US$100m (US$26.6m market cap). New Risk • Jun 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$752k Forecast net loss in 1 year: US$2.3m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.3m net loss next year). Market cap is less than US$100m (US$26.3m market cap). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$1.35, the stock trades at a trailing P/E ratio of 64.5x. Average forward P/E is 8x in the Shipping industry in the US. Total loss to shareholders of 30% over the past three years. Aankondiging • Jun 12
Globus Maritime Limited to Report Q1, 2025 Results on Jun 16, 2025 Globus Maritime Limited announced that they will report Q1, 2025 results After-Market on Jun 16, 2025 Major Estimate Revision • Mar 21
Consensus EPS estimates fall by 350% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$50.6m to US$45.6m. Losses expected to increase from US$0.04 per share to US$0.18. Shipping industry in the US expected to see average net income decline 19% next year. Consensus price target of US$4.00 unchanged from last update. Share price fell 3.5% to US$1.25 over the past week. New Risk • Mar 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.6% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.6% operating cash flow to total debt). High level of non-cash earnings (51% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (US$26.6m market cap). Reported Earnings • Mar 16
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$0.02 (down from US$0.26 in FY 2023). Revenue: US$34.9m (up 12% from FY 2023). Net income: US$431.0k (down 92% from FY 2023). Profit margin: 1.2% (down from 17% in FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 2.9% decline forecast for the Shipping industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$1.36, the stock trades at a trailing P/E ratio of 10x. Average forward P/E is 4x in the Shipping industry in the US. Total loss to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.35, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 5x in the Shipping industry in the US. Total loss to shareholders of 40% over the past three years. New Risk • Dec 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 40% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (40% accrual ratio). Minor Risk Market cap is less than US$100m (US$29.4m market cap). Reported Earnings • Dec 01
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: US$0.027 loss per share (down from US$0.17 profit in 3Q 2023). Revenue: US$8.95m (up 17% from 3Q 2023). Net loss: US$550.0k (down 116% from profit in 3Q 2023). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 70%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Aankondiging • Nov 28
Globus Maritime Limited to Report Q3, 2024 Results on Nov 29, 2024 Globus Maritime Limited announced that they will report Q3, 2024 results After-Market on Nov 29, 2024 Major Estimate Revision • Oct 15
Consensus EPS estimates increase by 150% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$0.02 to US$0.05. Revenue forecast steady at US$36.8m. Net income forecast to shrink 114% next year vs 12% growth forecast for Shipping industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price fell 5.9% to US$1.75 over the past week. Major Estimate Revision • Sep 19
Consensus EPS estimates fall by 93% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$40.0m to US$36.5m. EPS estimate also fell from US$0.27 per share to US$0.02 per share. Net income forecast to shrink 120% next year vs 13% growth forecast for Shipping industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price rose 17% to US$1.99 over the past week. Reported Earnings • Sep 14
First quarter 2024 earnings released: US$0.015 loss per share (vs US$0.13 profit in 1Q 2023) First quarter 2024 results: US$0.015 loss per share (down from US$0.13 profit in 1Q 2023). Revenue: US$7.71m (down 10% from 1Q 2023). Net loss: US$299.0k (down 112% from profit in 1Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to US$1.74, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 6x in the Shipping industry in the US. Total loss to shareholders of 42% over the past three years. Aankondiging • Aug 16
Globus Maritime Limited, Annual General Meeting, Sep 12, 2024 Globus Maritime Limited, Annual General Meeting, Sep 12, 2024. Location: offices of globus shipmanagement corp, 128 vouliagmenis avenue in glyfada, attica greece, United States Major Estimate Revision • Jun 14
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$46.7m to US$40.0m. EPS estimate fell from US$0.38 to US$0.27 per share. Net income forecast to grow 18% next year vs 21% growth forecast for Shipping industry in the US. Consensus price target of US$4.00 unchanged from last update. Share price fell 5.0% to US$2.00 over the past week. New Risk • Jun 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 63% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (7.9% net profit margin). Market cap is less than US$100m (US$45.3m market cap). Reported Earnings • Jun 09
First quarter 2024 earnings released: US$0.01 loss per share (vs US$0.035 profit in 1Q 2023) First quarter 2024 results: US$0.01 loss per share (down from US$0.035 profit in 1Q 2023). Revenue: US$7.71m (down 6.0% from 1Q 2023). Net loss: US$299.0k (down 142% from profit in 1Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Aankondiging • Jun 08
Globus Maritime Limited to Report Q1, 2024 Results on Jun 07, 2024 Globus Maritime Limited announced that they will report Q1, 2024 results After-Market on Jun 07, 2024 Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$2.34, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Shipping industry in the US. Total loss to shareholders of 47% over the past three years. Reported Earnings • Mar 17
Full year 2023 earnings: Revenues exceed analyst expectations Full year 2023 results: Revenue: US$31.2m (down 50% from FY 2022). Net income: US$5.27m (down 78% from FY 2022). Profit margin: 17% (down from 39% in FY 2022). Revenue exceeded analyst estimates by 4.4%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to US$2.44, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Shipping industry in the US. Total loss to shareholders of 77% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings: Revenues exceed analyst expectations Third quarter 2023 results: Revenue: US$7.68m (down 52% from 3Q 2022). Net income: US$3.47m (down 20% from 3Q 2022). Profit margin: 45% (up from 27% in 3Q 2022). Revenue exceeded analyst estimates by 16%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 170% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Aankondiging • Nov 14
Globus Maritime Limited to Report Q3, 2023 Results on Nov 16, 2023 Globus Maritime Limited announced that they will report Q3, 2023 results After-Market on Nov 16, 2023 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.45, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Shipping industry in the US. Total loss to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$1.73, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Shipping industry in the US. Total loss to shareholders of 81% over the past three years. Aankondiging • Oct 05
Globus Maritime Regains Compliance with NASDAQ’s Minimum Closing Bid Price Globus Maritime Limited (‘Globus’ or the ‘Company,’) announced that it has received a letter from NASDAQ, indicating that the Company has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the NASDAQ Capital Market, pursuant to the NASDAQ marketplace rules. For at least 10 consecutive business days from September 18 to September 29, 2023, the closing bid price has been greater than $1.00. NASDAQ indicated within its letter that since the Company has regained compliance with Listing Rule 5550(a)(2) (the ‘Minimum Bid Price Rule’), this matter is now closed. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$1.06, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Shipping industry in the US. Total loss to shareholders of 91% over the past three years. Reported Earnings • Sep 13
Second quarter 2023 earnings: Revenues exceed analyst expectations Second quarter 2023 results: Revenue: US$7.84m (down 59% from 2Q 2022). Net loss: US$1.16m (down 111% from profit in 2Q 2022). Revenue exceeded analyst estimates by 8.8%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has increased by 192% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Aankondiging • Sep 12
Globus Maritime Limited to Report Q2, 2023 Results on Sep 12, 2023 Globus Maritime Limited announced that they will report Q2, 2023 results After-Market on Sep 12, 2023 New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 66% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 66% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (28% net profit margin). Market cap is less than US$100m (US$17.8m market cap). Aankondiging • Aug 24
Globus Maritime Limited, Annual General Meeting, Sep 21, 2023 Globus Maritime Limited, Annual General Meeting, Sep 21, 2023, at 11:00 E. Europe Standard Time. Location: 128 Vouliagmenis Avenue in Glyfada Attica Greece Agenda: To elect two Class I directors to serve until the 2026 annual meeting of shareholders; to approve the appointment of Ernst & Young Certified Auditors Accountants S.A. as the Company’s independent auditors for the fiscal year ending December 31, 2023; to approve one or more amendments to the Company’s Amended and Restated Articles of Incorporation to effect one or more reverse stock splits of the Company’s issued and outstanding shares of common stock and Series B preferred shares by an aggregate ratio of not more than one-for-20, with the exact ratio to be set at a whole number to be determined by the Company’s Board of Directors or a committee thereof in its discretion, at any time or times after approval of the amendments, and to authorize the Company’s Board of Directors to implement one or more reverse stock splits by filing one or more amendments with the Registrar of Corporations of the Republic of the Marshall Islands; and to discuss other matters. Major Estimate Revision • Jun 09
Consensus EPS estimates fall by 65% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$40.6m to US$38.9m. EPS estimate also fell from US$0.48 per share to US$0.17 per share. Net income forecast to shrink 57% next year vs 36% decline forecast for Shipping industry in the US. Consensus price target of US$3.50 unchanged from last update. Share price fell 2.6% to US$0.92 over the past week. Reported Earnings • Jun 04
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: US$0.13 (down from US$0.59 in 1Q 2022). Revenue: US$8.58m (down 54% from 1Q 2022). Net income: US$2.59m (down 79% from 1Q 2022). Profit margin: 30% (down from 66% in 1Q 2022). Revenue exceeded analyst estimates by 36%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, while revenues in the Shipping industry in the US are expected to remain flat. Aankondiging • Jun 01
Globus Maritime Limited to Report Q1, 2023 Results on Jun 02, 2023 Globus Maritime Limited announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on Jun 02, 2023 Reported Earnings • Mar 21
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: US$61.8m (up 42% from FY 2021). Net income: US$24.3m (up 62% from FY 2021). Profit margin: 39% (up from 35% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is expected to fall by 4.3% p.a. on average during the next 2 years compared to a 8.0% decline forecast for the Shipping industry in the US. Reported Earnings • Dec 01
Third quarter 2022 earnings: Revenues exceed analyst expectations Third quarter 2022 results: Revenue: US$15.9m (up 24% from 3Q 2021). Net income: US$4.34m (down 22% from 3Q 2021). Profit margin: 27% (down from 44% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 4.6% p.a. on average during the next 3 years compared to a 7.8% decline forecast for the Shipping industry in the US. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director Ioannis Kazantzidis was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.54 (up from US$0.002 loss in 2Q 2021). Revenue: US$19.1m (up 180% from 2Q 2021). Net income: US$11.0m (up US$11.0m from 2Q 2021). Profit margin: 57% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Over the next year, revenue is expected to shrink by 15% compared to a 4.6% decline forecast for the Shipping industry in the US. Price Target Changed • Jul 29
Price target decreased to US$4.50 Down from US$6.00, the current price target is provided by 1 analyst. New target price is 173% above last closing price of US$1.65. Stock is down 42% over the past year. The company posted earnings per share of US$1.01 last year. Reported Earnings • Jun 07
First quarter 2022 earnings released: EPS: US$0.59 (vs US$0.11 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.59 (up from US$0.11 loss in 1Q 2021). Revenue: US$18.4m (up 257% from 1Q 2021). Net income: US$12.1m (up US$12.8m from 1Q 2021). Profit margin: 66% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 1.3% while the industry in the US is not expected to grow. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 18% share price gain to US$2.34, the stock trades at a trailing P/E ratio of 3.2x. Average forward P/E is 4x in the Shipping industry in the US. Total loss to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$2.07, the stock trades at a trailing P/E ratio of 2.8x. Average forward P/E is 4x in the Shipping industry in the US. Total loss to shareholders of 99% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director Ioannis Kazantzidis was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 21% share price gain to US$2.49, the stock trades at a trailing P/E ratio of 3.4x. Average forward P/E is 4x in the Shipping industry in the US. Total loss to shareholders of 99% over the past three years. Reported Earnings • Apr 12
Full year 2021 earnings released Full year 2021 results: Revenue: US$43.4m (up 269% from FY 2020). Net income: US$15.0m (up US$32.3m from FY 2020). Profit margin: 35% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 18%, compared to a 11% growth forecast for the industry in the US. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 17% share price gain to US$2.39, the stock trades at a trailing P/E ratio of 26.1x. Average forward P/E is 4x in the Shipping industry in the US. Total loss to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$1.73, the stock trades at a trailing P/E ratio of 18.9x. Average forward P/E is 3x in the Shipping industry in the US. Total loss to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$2.02, the stock trades at a trailing P/E ratio of 22.1x. Average forward P/E is 3x in the Shipping industry in the US. Total loss to shareholders of 99% over the past three years. Reported Earnings • Dec 02
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: US$0.28 (up from US$0.81 loss in 3Q 2020). Revenue: US$12.8m (up 301% from 3Q 2020). Net income: US$5.58m (up US$6.84m from 3Q 2020). Profit margin: 44% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 18%. Over the next year, revenue is forecast to grow 66%, compared to a 16% growth forecast for the industry in the US. Reported Earnings • Sep 29
Second quarter 2021 earnings released The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$6.83m (up 197% from 2Q 2020). Net loss: US$23.0k (loss narrowed 100% from 2Q 2020). Reported Earnings • Jun 20
First quarter 2021 earnings released: US$0.11 loss per share (vs US$155 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$5.17m (up 126% from 1Q 2020). Net loss: US$766.0k (loss narrowed 92% from 1Q 2020). Reported Earnings • Mar 31
Full year 2020 earnings released: US$5.71 loss per share (vs US$873 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$11.8m (down 25% from FY 2019). Net loss: US$17.4m (loss narrowed 52% from FY 2019). Is New 90 Day High Low • Feb 25
New 90-day low: US$5.21 The company is down 44% from its price of US$9.25 on 27 November 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 40% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: US$5.45 The company is down 26% from its price of US$7.41 on 29 October 2020. The American market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 44% over the same period. Is New 90 Day High Low • Dec 30
New 90-day low: US$5.68 The company is down 55% from its price of US$12.75 on 30 September 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 34% over the same period.