Security
Pangaea Logistics Solutions Ltd. Common Shares · PANL
PANLNASDAQCommon stockCurrentCIK 1606909Updated Oct 6, 2026
Name history
Quartet Holdco Ltd. · through Oct 2, 2014
PANL price & chart
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NASDAQ:PANL on TradingView ↗In the news
Pangaea Logistics Solutions Ltd. Reports Financial Results for the Second Quarter Ended June 30, 2025 News provided by Pangaea Logistics Solutions LTD Aug 07, 2025, 16:30 ET Share this article Share to X Share this article Share to X NEWPORT, R.I. , Aug. 7, 2025 /PRNewswire/ -- Pangaea Logistics Sol ↗
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SEC disclosures
Pangaea Logistics Solutions Ltd. files 8-K: Material Event ↗
Recent filings
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 932,145,629Source | 749,166,675Source | 956,677,000Source | 915,995,446Source | 692,920,602Source | 950,695,000Source | 917,988,805Source | 703,305,074Source | 928,096,000Source | 936,457,081Source | 705,179,968Source | 748,241,470Source |
| Property, Plant and Equipment, NetUSD | 683,944,545Source | 514,581,091Source | 667,189,000Source | 694,403,690Source | 464,347,780Source | 674,958,000Source | 705,349,704Source | 469,077,334Source | 677,518,000Source | 707,826,328Source | 474,265,171Source | 476,524,752Source |
| GoodwillUSD | 3,104,800Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,104,800Source | — |
| Intangible Assets, Net (Excluding Goodwill)USD | — | — | — | — | — | — | — | — | 1,675,000Source | 1,242,431Source | — | — |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 94,020,373Source | 93,119,521Source | 105,675,000Source | 59,253,000Source | 77,946,955Source | 89,744,000Source | 63,949,000Source | 95,873,255Source | 103,054,000Source | 86,805,470Source | 99,037,866Source | 128,384,606Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 45,566,001Source | 44,157,144Source | 59,147,000Source | 49,325,656Source | 41,332,293Source | 61,280,000Source | 47,915,124Source | 41,997,734Source | 55,854,000Source | 42,370,830Source | 47,891,501Source | 36,755,149Source |
| Inventory, NetUSD | 36,137,876Source | 26,742,783Source | 51,095,000Source | 38,583,748Source | 28,889,890Source | 40,262,000Source | 36,031,774Source | 22,151,644Source | 28,389,000Source | 32,848,241Source | 16,556,266Source | 29,104,436Source |
| Assets, CurrentUSD | 212,622,757Source | 196,239,098Source | 265,944,000Source | 184,008,795Source | 181,351,241Source | 250,790,000Source | 175,902,514Source | 195,557,103Source | 215,776,000Source | 191,993,893Source | 191,825,879Source | 222,511,022Source |
| Prepaid Expense and Other Assets, CurrentUSD | 30,258,855Source | 32,219,650Source | 50,027,000Source | 29,300,653Source | 33,182,103Source | 50,120,000Source | 28,006,939Source | 35,534,470Source | 28,478,000Source | 29,969,352Source | 28,340,246Source | 28,266,831Source |
| Other Assets, NoncurrentUSD | 4,798,137Source | 6,107,198Source | 3,792,000Source | 6,566,313Source | 5,986,121Source | 4,991,000Source | 5,289,742Source | 5,735,863Source | 4,561,000Source | 4,760,529Source | 5,590,295Source | 5,284,127Source |
| LIABILITIES AND EQUITY | ||||||||||||
| Stockholders’ equity: | ||||||||||||
| Preferred Stock, Value, IssuedUSD | — | 0Source | — | 0Source | 0Source | — | 0Source | 0Source | — | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 6,520Source | 4,692Source | 7,000Source | 6,539Source | 4,692Source | 7,000Source | 6,564Source | 4,685Source | 7,000Source | 6,498Source | 4,648Source | 4,590Source |
| Additional Paid in CapitalUSD | 256,663,813Source | 167,167,687Source | 259,394,000Source | 259,733,610Source | 166,521,852Source | 258,771,000Source | 260,191,506Source | 165,993,186Source | 257,072,000Source | 258,659,972Source | 164,854,546Source | 162,894,080Source |
| Retained Earnings (Accumulated Deficit)USD | 163,591,591Source | 165,417,353Source | 189,228,000Source | 154,612,941Source | 165,003,909Source | 182,280,000Source | 160,604,727Source | 166,006,383Source | 172,255,000Source | 169,155,149Source | 159,026,799Source | 151,327,392Source |
| Stockholders' Equity Attributable to ParentUSD | 420,261,924Source | 332,589,732Source | 448,629,000Source | 414,353,090Source | 331,530,453Source | 441,058,000Source | 420,802,797Source | 332,004,254Source | 429,333,000Source | 427,821,619Source | 323,885,993Source | 314,226,062Source |
| Liabilities and EquityUSD | 932,145,629Source | 749,166,675Source | 956,677,000Source | 915,995,446Source | 692,920,602Source | 950,695,000Source | 917,988,805Source | 703,305,074Source | 928,096,000Source | 936,457,081Source | 705,179,968Source | 748,241,470Source |
| Current liabilities: | ||||||||||||
| Liabilities, CurrentUSD | 130,925,056Source | 95,913,537Source | 192,184,000Source | 126,009,715Source | 83,969,385Source | 153,586,000Source | 108,997,389Source | 99,337,426Source | 128,034,000Source | 109,108,111Source | 105,334,319Source | 92,211,872Source |
| Accounts Payable, CurrentUSD | — | — | — | — | — | — | — | — | 14,328,000Source | 14,817,287Source | 6,277,693Source | 9,979,451Source |
| Other Liabilities, NoncurrentUSD | — | 16,357,366Source | — | — | 16,631,692Source | — | — | 18,751,642Source | — | 0Source | 17,936,540Source | 19,974,390Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 45,298,399Source | 46,224,871Source | 46,053,000Source | 44,777,223Source | 45,278,789Source | 45,773,000Source | 46,349,919Source | 47,301,398Source | 45,403,000Source | 46,842,716Source | 46,309,940Source | 54,495,468Source |
| Additional Financial Items | ||||||||||||
| Accrued Liabilities, CurrentUSD | — | — | — | — | — | — | — | — | — | 11,530,275Source | 14,038,418Source | 11,795,973Source |
| Dividends Payable, CurrentUSD | 1,143,501Source | 1,279,494Source | 607,000Source | 1,117,125Source | 1,116,964Source | 577,000Source | 1,048,066Source | 966,786Source | 1,198,000Source | 1,210,991Source | 1,146,321Source | 626,178Source |
| Long-term Debt, Excluding Current MaturitiesUSD | — | 117,014,342Source | — | — | 78,474,348Source | — | — | 65,929,536Source | 97,157,000Source | 129,296,740Source | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | — | 117,014,342Source | — | — | 78,474,348Source | — | — | 65,929,536Source | 97,157,000Source | — | — | — |
| Long-term Debt, Current Maturities | — | —Source | — | — | —Source | — | — | —Source | — | — | — | — |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | 12,987,513Source | 6,057,122Source | 10,481,000Source | -2,900,000Source | 13,665,000Source | -2,199,000Source | 20,167,000Source | 31,769,493Source | 28,537,772Source | 85,507,704Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 11,876,000Source | 9,923,000Source | 42,475,000Source | 30,375,721Source | 30,070,395Source | 29,489,810Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 1,700,000Source | 1,532,000Source | 4,111,000Source | 2,788,190Source | 2,087,807Source | 1,767,726Source |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | — | — | — | — | 6,216,000Source | 6,703,000Source | 15,024,000Source | -3,685,607Source | 14,075,231Source | -15,126,727Source |
| Increase (Decrease) in InventoriesUSD | — | — | — | — | — | — | 11,872,000Source | 3,184,000Source | -4,459,000Source | 11,030,458Source | -12,548,170Source | 1,956,676Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | 4,494,000Source | -4,356,000Source | 53,726,000Source | 65,691,393Source | 53,787,277Source | 134,801,400Source |
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | — | — | — | — | — | — | — | 0Source | 7,200,000Source | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | -1,311,000Source | -460,000Source | 11,411,000Source | -67,694,165Source | -15,982,325Source | -28,509,096Source |
| Cash flows from financing activities: | ||||||||||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | — | — | — | — | — | — | — | — | 2,999,000Source | — | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | -16,493,000Source | -18,041,000Source | -48,619,000Source | -10,229,624Source | -67,151,692Source | -34,116,600Source |
| Payments of Ordinary Dividends, Common StockUSD | — | — | 13,100,000Source | — | — | — | 3,891,000Source | 6,732,000Source | 16,303,000Source | 18,710,364Source | 18,103,750Source | 13,414,984Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | -13,310,000Source | -22,857,000Source | 16,519,000Source | -12,232,396Source | -29,346,740Source | 72,175,704Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 94,289,983Source | 93,119,521Source | 105,945,000Source | 59,253,000Source | 90,014,000Source | 63,949,000Source | 103,324,000Source | 86,805,470Source | 99,037,866Source | 128,384,606Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | — | — | 24,315,000Source | 17,983,252Source | 18,850,078Source | 14,906,972Source |
| Additional Financial Items | ||||||||||||
| Depreciation, Amortization and Accretion, NetUSD | — | — | 10,213,995Source | 7,719,083Source | 12,433,000Source | 10,597,000Source | 11,876,000Source | 9,923,000Source | 42,475,000Source | 30,375,721Source | 30,070,395Source | 29,489,810Source |
| Dividends Payable, CurrentUSD | — | — | 1,143,501Source | 1,279,494Source | 607,000Source | 1,117,125Source | 577,000Source | 1,048,066Source | 1,198,000Source | 1,210,991Source | 1,146,321Source | 626,178Source |
| Gain (Loss) on Sale of PropertiesUSD | — | — | 308,685Source | 0Source | — | — | — | — | 3,000,000Source | 0Source | -1,738,511Source | -318,032Source |
| General and Administrative ExpenseUSD | — | — | 9,881,730Source | — | 8,962,000Source | 7,172,000Source | 10,027,000Source | 7,274,000Source | 31,071,000Source | 24,626,469Source | 22,780,937Source | 20,103,346Source |
| GoodwillUSD | — | — | 3,104,800Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,105,000Source | 3,104,800Source | 3,104,800Source | — |
| Income (Loss) from Equity Method InvestmentsUSD | — | — | — | — | — | — | 484,000Source | 393,000Source | 2,952,000Source | 1,709,593Source | 684,470Source | 807,142Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 366,000Source | 389,000Source | 417,000Source | 443,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 12,208,328Source | 5,111,040Source | 10,201,000Source | -2,742,000Source | 13,294,000Source | -1,981,000Source | 19,369,000Source | 28,903,383Source | 26,323,300Source | 79,491,413Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | — | 779,185Source | 946,082Source | 280,000Source | -158,000Source | 371,000Source | -218,000Source | 798,000Source | 2,866,110Source | 2,214,472Source | 6,016,291Source |
| Nonoperating Income (Expense)USD | — | — | -3,934,719Source | -8,944,099Source | -10,863,000Source | -6,554,000Source | 3,199,000Source | -5,125,000Source | -20,777,000Source | -16,679,121Source | -16,079,425Source | -20,000,113Source |
| Operating ExpensesUSD | — | — | 151,747,600Source | 138,113,843Source | 165,774,000Source | 153,036,000Source | 160,114,000Source | 119,875,000Source | 591,097,000Source | 488,087,632Source | 454,650,637Source | 594,199,089Source |
| Operating Lease, ExpenseUSD | — | — | — | — | — | — | — | — | 443,000Source | 200,000Source | — | — |
| Other Nonoperating Income (Expense)USD | — | — | 954,492Source | 551,021Source | 494,000Source | 484,000Source | 484,000Source | 393,000Source | 2,952,000Source | 1,427,530Source | 761,485Source | 807,142Source |
| Proceeds from Noncontrolling InterestsUSD | — | — | — | — | — | — | — | — | 309,000Source | — | — | 0Source |
| Unrealized Gain (Loss) on DerivativesUSD | — | — | 665,790Source | -5,961,224Source | -6,696,000Source | -1,301,000Source | 6,606,000Source | 184,000Source | -1,355,000Source | -953,042Source | -2,925,347Source | 682,323Source |
| Amortization of Debt Issuance Costs | — | — | — | — | — | — | —Source | —Source | — | — | — | — |
| Gain (Loss) on Disposition of Other Assets | — | — | — | — | — | — | — | — | — | — | — | — |
| Goodwill, Impairment Loss | — | — | — | — | —Source | — | — | — | — | — | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total RevenueUSD | — | — | 168,669,832Source | 153,115,064Source | 187,119,000Source | 156,689,000Source | 170,580,000Source | 122,802,000Source | 632,041,000Source | 536,536,246Source | 499,267,834Source | 699,706,906Source |
| Operating Income (Loss)USD | — | — | 16,922,232Source | 15,001,221Source | 21,345,000Source | 3,654,000Source | 10,466,000Source | 2,926,000Source | 40,944,000Source | 48,448,614Source | 44,617,197Source | 105,507,817Source |
| Other Nonoperating Income (Expense)USD | — | — | 954,492Source | 551,021Source | 494,000Source | 484,000Source | 484,000Source | 393,000Source | 2,952,000Source | 1,427,530Source | 761,485Source | 807,142Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 366,000Source | 389,000Source | 417,000Source | 443,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | — | 779,185Source | 946,082Source | 280,000Source | -158,000Source | 371,000Source | -218,000Source | 798,000Source | 2,866,110Source | 2,214,472Source | 6,016,291Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 12,208,328Source | 5,111,040Source | 10,201,000Source | -2,742,000Source | 13,294,000Source | -1,981,000Source | 19,369,000Source | 28,903,383Source | 26,323,300Source | 79,491,413Source |
| Earnings Per Share, BasicUSD per share | — | — | 0.19Source | 0.11Source | 0.16Source | -0.04Source | 0.21Source | -0.03Source | 0.3Source | 0.64Source | 0.59Source | 1.79Source |
| Earnings Per Share, DilutedUSD per share | — | — | 0.19Source | 0.11Source | 0.16Source | -0.04Source | 0.21Source | -0.03Source | 0.3Source | 0.63Source | 0.58Source | 1.76Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 63,729,227Source | 45,279,813Source | 64,396,991Source | 64,042,209Source | 64,193,205Source | 63,851,090Source | 63,802,958Source | 45,391,855Source | 44,773,899Source | 44,398,987Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 64,823,069Source | 46,011,402Source | 65,025,857Source | 64,042,209Source | 64,775,563Source | 63,851,090Source | 64,703,473Source | 46,046,044Source | 45,475,453Source | 45,059,587Source |
| Additional Financial Items | ||||||||||||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | — | — | — | — | — | — | — | — | 0.05Source | 0.1Source | — | — |
| General and Administrative ExpenseUSD | — | — | 9,881,730Source | — | 8,962,000Source | 7,172,000Source | 10,027,000Source | 7,274,000Source | 31,071,000Source | 24,626,469Source | 22,780,937Source | 20,103,346Source |
| Income (Loss) from Equity Method InvestmentsUSD | — | — | — | — | — | — | 484,000Source | 393,000Source | 2,952,000Source | 1,709,593Source | 684,470Source | 807,142Source |
| Interest and Other IncomeUSD | — | — | 356,862Source | 893,879Source | 1,069,000Source | 292,000Source | 2,053,000Source | 444,000Source | 1,632,000Source | 3,022,593Source | 3,572,134Source | — |
| Interest Expense, DebtUSD | — | — | — | — | — | — | — | — | 24,006,000Source | 17,073,184Source | 17,025,547Source | 14,772,164Source |
| Interest Revenue (Expense), NetUSD | — | — | — | — | — | — | — | — | 0Source | — | — | — |
| Nonoperating Income (Expense)USD | — | — | -3,934,719Source | -8,944,099Source | -10,863,000Source | -6,554,000Source | 3,199,000Source | -5,125,000Source | -20,777,000Source | -16,679,121Source | -16,079,425Source | -20,000,113Source |
| Operating ExpensesUSD | — | — | 151,747,600Source | 138,113,843Source | 165,774,000Source | 153,036,000Source | 160,114,000Source | 119,875,000Source | 591,097,000Source | 488,087,632Source | 454,650,637Source | 594,199,089Source |
| Operating Lease, ExpenseUSD | — | — | — | — | — | — | — | — | 443,000Source | 200,000Source | — | — |
| Goodwill, Impairment Loss | — | — | — | — | —Source | — | — | — | — | — | — | — |