Pangaea Logistics Solutions (PANL) Financial Statements & Analysis

Pangaea Logistics Solutions (PANL) Income Statement

Pangaea Logistics Solutions reported revenue of $632.04M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 17.8% from $536.54M a year earlier. Net income was $19.37M, down 33.0% year over year, a net margin of 3.1%. Gross margin was 17.6% and operating margin 6.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $187.12M, up 19.4% from the same quarter a year earlier.

Pangaea Logistics Solutions Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Pangaea Logistics Solutions Ltd. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	632.04	536.54	499.27	699.71	718.10	382.90	412.20	372.97	385.95
Cost of Revenue	520.55	433.09	430.13	541.28	620.27	344.75	362.22	319.56	345.48
Gross Profit	111.49	103.45	69.14	158.43	97.84	38.14	49.97	53.42	40.46
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	31.07	24.63	22.78	20.10	18.97	15.92	17.38	16.48	15.16
Operating Expenses	70.55	55.00	22.78	52.92	18.97	18.45	26.71	17.34	24.44
Operating Income	40.94	48.45	46.36	105.51	78.87	19.70	23.26	36.07	16.03
Other Income/Expense
Interest Income	1.63	3.02	3.57	0.93	0.00	0.00	0.00	0.00	0.00
Interest Expense	24.01	-20.18	17.49	-22.42	11.51	7.83	9.28	8.90	8.27
Other Income/Expense	-20.78	-16.68	-3.90	-20.00	5.02	-7.00	-6.21	-12.09	-6.93
Income
Income Before Tax	20.17	31.77	28.54	85.51	72.37	12.69	17.05	23.98	9.10
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	19.37	28.90	26.32	79.49	67.23	11.35	11.66	17.76	7.81
Net Income - Continuous Operations	19.37	31.77	28.54	79.49	72.37	11.35	11.66	17.76	7.81
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	80.42	78.82	76.10	138.32	106.86	37.58	44.86	50.50	32.99
EBIT	37.94	48.45	46.03	108.83	83.89	22.23	-	-	-
Depreciation & Amortization	42.48	30.38	30.07	29.49	22.97	17.06	18.53	17.62	15.61
Earnings Per Share
Basic EPS	-	1.00	1.00	2.00	2.00	-	-	-	-
Diluted EPS	-	1.00	1.00	2.00	2.00	-	-	-	-
Basic Shares Outstanding	63.80	45.39	44.77	44.40	44.00	43.42	42.75	42.25	38.41
Diluted Shares Outstanding	64.70	46.05	45.48	45.06	44.85	43.82	43.27	42.78	38.93

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Pangaea Logistics Solutions Financial Statements

What was Pangaea Logistics Solutions's revenue in fiscal 2025?

Pangaea Logistics Solutions reported revenue of $632.04M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 17.8% from $536.54M a year earlier.

Is Pangaea Logistics Solutions profitable?

Yes. Pangaea Logistics Solutions earned net income of $19.37M in fiscal 2025, a net margin of 3.1%. In fiscal 2024 it earned $28.90M.

What is Pangaea Logistics Solutions's operating margin?

Pangaea Logistics Solutions's operating income was $40.94M on revenue of $632.04M in fiscal 2025, an operating margin of 6.5%, compared with 9.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition