Business
Robin Energy Ltd. Reports Net Income of $0.5 Million for the Three Months Ended June 30, 2025 and $0.4 Million for the Six Months Ended June 30, 2025
LIMASSOL, Cyprus, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Robin Energy Ltd. (NASDAQ: RBNE), (“Robin”, or the “Company”), an international ship-owning company
About this update from Robin Energy Ltd.
[{"type":"text","content":"LIMASSOL, Cyprus, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Robin Energy Ltd. (NASDAQ: RBNE), (“Robin”, or the “Company”), an international ship-owning company providing energy transportation services globally, today announced its results for the three months and the six months ended June 30, 2025. Highlights of the Second Quarter Ended June 30, 2025: Total vessel revenues: $2.0 million, as compared to $1.5 million for the three months ended June 30, 2024, or a 33.3% increase; Net income: $0.5 million, as compared to $0.2 million for the three months ended June 30, 2024, or a 150.0% increase;Earnings per common share, basic: $0.15 per share, as compared to $0.08 per share for the three months ended June 30, 2024;EBITDA(1): $0.7 million, as compared to $0.4 million for the three months ended June 30, 2024; Cash of $39.4 million as of June 30, 2025, as compared to $0.01 million as of December 31, 2024;Our spin-off (the “Spin-Off”) from Toro Corp. (“Toro”) was completed on April 14, 2025 and our shares commenced trading on the Nasdaq Capital Market under the symbol “RBNE” on April 15, 2025.In June 2025, we successfully completed four registered direct equity offerings, issuing and selling 3.6 million common shares to certain institutional investors, resulting in gross proceeds of approximately $17.2 million. Highlights of the Six Months Ended June 30, 2025: Total vessel revenues: $3.6 million, as compared to $4.0 million for the six months ended June 30, 2024;Net income: $0.4 million, as compared to $1.4 million for the six months ended June 30, 2024;Earnings per common share, basic: $0.13 per share, as compared to $0.57 per share for the six months ended June 30, 2024;EBITDA(1) : $1.0 million, as compared to $1.9 million for the six months ended June 30, 2024; (1) EBITDA is not a recognized measure under United States generally accepted accounting principles (“U.S. GAAP”). Please refer to Appendix B for the definition and reconciliation of this measure to Net income, the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. Management Commentary: Mr. Petros Panagiotidis, Chief Executive Officer of the Company, commented: “The second quarter of 2025 marked our first full quarter as an independent public company, following the successful completion of our spin-off from Toro and our listing on Nasd...