7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-07-01 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-07-01 2016-06-30 2016-03-31 2015-12-31 2015-06-30 2014-06-30 
      
    		                                            
      revenues
    		                                           15,853,840 
      net pool revenues—related party
    		120,627,086 83,842,752 265,627,971 78,022,488 79,877,644 109,407,054 -33,612,661 155,922,970 137,851,402 104,386,551 8,991,059 96,558,251 70,585,169 70,171,001 117,939,720 62,856,243 56,721,405 55,162,246 98,766,179 82,659,967 49,723,556 66,929,421 -88,491,421 77,470,478 80,944,577 50,092,137 12,141,838 46,683,295 32,027,042 16,106,401 26,404,410 31,610,427 20,468,380  28,475,359 20,199,552 22,301,512 20,837,311  37,659,385 32,675,255.75 66,044,777   
      time charter revenues
    		  17,615,233 2,433,411 2,432,989 3,414,351 3,399,383 6,410,997 6,475,768 6,423,472 4,966,698 5,971,056 5,197,542 6,241,915 3,576,719 5,301,134 5,268,603 5,346,139 20,182,498 4,665,664 4,177,064 5,086,004 8,613,750 7,859,035 10,271,398 10,982,031 21,698,285 8,370,000 8,640,000 11,467,881 12,605,268 12,498,849 12,507,394  12,564,655 9,229,977.5 11,921,875 12,465,684  12,532,351 -8,567,444 11,237,746 5,372,203  
      other revenues
    		3,437,195 369,214 20,931 210,880 122,847 1,531,637 636,621 730,536 371,292 752,884 4,149,526 792,949 185,476 410,806 -215,005 442,405 1,096,850 2,442,353 -1,873,304 1,153,393 809,657 1,149,899 -318,071 108,293 408,900 91,378 -138,973 60,000 140,500 70,000 25,000 101,069 20,000  -14,542 211,731.75 214,649 308,238  324,040 -167,360 433,341 95,514  
      total revenues
    		124,064,281 84,211,966 283,264,135 80,666,779 82,433,480 114,353,042 -29,576,657 163,064,503 144,698,462 111,562,907 18,107,283 103,322,256 75,968,187 76,823,722 121,301,434 68,599,782 63,086,858 62,950,738 117,075,373 88,479,024 54,710,277 73,165,324 -80,195,742 85,437,806 91,624,875 61,165,546 35,769,641 55,113,295 40,807,542 27,644,282 39,034,678 44,545,589 34,729,021  41,025,472 29,965,499.25 35,734,988 33,611,233  50,515,776 -174,238,900 93,283,708 20,331,901  
      expenses
    		                                            
      voyage expenses
    		1,033,917 1,342,756 165,800 950,842 752,552 804,985 1,318,962 772,879 1,221,228 298,383 1,757,206 424,343 1,367,618 775,545 208,899 779,746 1,064,613 1,356,392 816,405 752,404 858,919 815,195 -674,956 1,178,702 855,023 339,114 1,391,155 287,221 435,224 100,173 312,170 386,637 1,275,521  239,445 4,255,684 1,193,265 466,218  755,804 -4,740,870 4,347,222 3,523,073 2,785,998 
      charter hire expenses
    		13,714,116 10,721,911 12,591,064 10,586,115 9,851,068 10,645,140 -7,780,325 8,359,808 12,068,419 10,546,810 290,016 5,215,144 5,358,333 5,402,145 7,306,530 4,917,012 2,403,968 3,508,070 -3,764,682 4,392,132 4,518,850 4,715,598 -5,943,681 2,071,206 2,055,000 2,055,000                   
      vessel operating expenses
    		20,682,956 21,911,606 19,001,981 21,439,514 19,539,916 20,480,279 11,486,169 19,196,097 20,977,119 19,842,386 21,662,540 17,919,058 17,554,707 17,067,913 21,303,815 18,205,762 18,428,738 20,281,554 13,450,811 19,202,291 21,435,904 17,389,363 14,235,806 19,131,124 17,393,685 16,119,953 13,478,280 16,773,634 17,375,273 16,685,457 15,892,536 15,794,381 15,740,438  16,885,289 -41,154,296 17,114,358 16,339,345  16,095,552 -22,084,199 14,265,183 6,754,086 3,483,123 
      depreciation and amortization
    		17,921,869 18,379,147 16,627,022 17,497,383 17,370,662 17,170,986 12,314,049 17,380,846 17,045,919 16,655,317 18,725,190 15,959,727 15,937,420 15,809,778 17,691,239 16,859,224 16,769,098 17,142,915 14,915,956 17,253,447 17,202,714 16,890,413 15,750,909 16,710,403 16,473,418 16,266,421 16,196,879 16,430,363 16,437,653 16,265,056 16,105,764 16,466,322 16,464,707  16,293,158 -42,323,811 16,385,921 16,365,517  16,192,745 -20,077,510 13,536,900 4,857,427 2,466,942 
      general and administrative expenses
    		12,012,042 16,910,101 4,656,607 7,464,856 16,458,650 10,424,070 1,630,131 7,659,466 13,578,648 9,218,137 5,689,605 6,947,964 8,176,031 9,413,139 10,633,010 5,867,454 9,351,728 8,038,807 591,456 5,548,526 5,912,810 11,302,976 6,765,222 5,037,783 5,895,406 6,735,835 7,417,336 5,156,573 7,462,726 8,403,286 6,694,250 5,536,028 5,421,145  8,534,909 -15,547,790 5,166,239 5,203,915  5,611,310 -19,568,881 7,506,740 7,214,280 792,506 
      total expenses
    		65,364,900 69,265,521 53,042,474 57,938,710 63,972,848 59,525,460 18,968,986 53,369,096 64,891,333 56,561,033 48,124,557 46,466,236 48,394,109 48,468,520 57,143,493 46,629,198 48,018,145 50,327,738 26,009,946 47,148,800 49,929,197 51,113,545 40,156,047 44,129,218 42,672,532 41,516,323 28,463,214 46,414,638 41,710,876 41,453,972 39,004,720 38,183,368 38,901,811  41,952,801 -91,647,857 39,859,783 38,374,995  38,655,411 -63,454,653 39,656,045 22,348,866 10,653,569 
      other income—related parties
    		645,364 645,364 655,529 655,365 635,454 645,943 454,864 645,454 680,950 620,433 580,455 638,055 563,738 591,802 485,791 580,388 580,387 632,888 194,307 545,311 632,680 468,023 1,092,063 450,169 314,084 623,283 705,543 614,633 584,632 644,517 643,489 633,883 638,070  633,883 444,164.75 670,836 552,922  552,901 287,731.75 383,642   
      operating income
    		59,344,745 15,591,809 230,877,190 23,383,434 19,096,086 55,473,525 -48,090,779 110,340,861 80,488,079 55,622,307 -22,179,922 57,494,075 28,137,816 28,947,004 61,177,522 22,550,972 19,115,310 13,255,888 17,452,274.25 41,875,535 5,413,760 22,519,802       -318,702 -13,165,173          12,413,266 -111,935,174 54,011,305 13,293,594 5,200,271 
      yoy
    		210.77% -71.89% -580.09% -78.81% -76.27% -0.27% 116.82% 91.92% 186.05% 92.15% -136.26% 154.95% 47.20% 118.37% 250.54% -46.15% 253.09% -41.14%                      138.70%     
      qoq
    		280.61% -93.25% 887.35% 22.45% -65.58% -215.35% -143.58% 37.09% 44.70% -350.78% -138.58% 104.33% -2.80% -52.68% 171.29% 17.97% 44.20% -24.04% -58.32% 673.50% -75.96%        -97.58%           -111.09% -307.24% 306.30% 155.63%  
      operating margin %
    		                                            
      other income/
    		                                            
      interest and finance costs
    		-7,599,108 -7,714,797 -12,639,226 -8,884,499 -9,438,273 -9,518,430 -7,008,419 -10,076,638 -10,314,881 -10,403,849 1,524,709 -8,636,387 -11,997,163 -7,958,554 -8,976,412 -7,412,231 -5,557,707 -5,649,774 -14,265,968 -6,087,193 -6,665,144 -9,087,236 -12,869,671 -8,778,905 -9,303,373 -9,697,282 -5,131,074 -10,000,018 -10,152,672 -10,374,281 -10,894,624 -8,683,257 -8,602,430  -7,477,734 19,951,382 -7,332,260 -7,160,119  -7,038,209 4,121,377 -4,633,454 -135,800 -178,540 
      interest income
    		2,996,777 2,843,446 -2,498,617 3,797,264 4,461,174 3,728,507 -2,815,785 2,903,622 2,030,752 1,690,220 -1,994,003 1,165,596 767,211 408,278 142,269 53,792 39,104 186,299 1,189,344 53,197 91,349 124,835 653,428 394,876 344,919 362,036 -886,383 413,546 451,923 460,973 292,571 103,446 28,226  15,816 346,995 27,711 30,317  23,178 290,975 22,382 65,585 107,355 
      unrealized loss on derivatives
    		-381,658 -1,183,841                    -495,806             -2,370,191          
      realized gain on derivatives
    		528,095 539,429 3,282,972 838,906 1,654,119 1,717,249 1,423,082 1,916,347 1,928,217              547,854.25 449,276 709,146 1,032,995                   
      other gain/(loss)
    		493,185  3,201,108 -638,894 -761,263 308,916 -343,513 959,041 819,904  -2,611,209 536,437 -333,439 1,047,142 2,525,767 -772,607 704,935 -1,453,321 788,823 265,182 -141,006 -87,361 -957,612 358,513 361,887 175,593 -51,464.5 -157,480                 
      total other incomes
    		-3,962,709 -5,509,708                                           
      net income
    		55,382,036 10,082,101 225,368,340 21,361,828 9,428,605 51,288,140 -55,762,785 99,972,913 76,512,665 51,721,137 -24,487,877 51,263,710 20,311,465 24,847,720 56,012,865 16,580,885 14,101,803 5,869,100 12,132,804.75 35,825,264 537,950 12,168,005       -8,177,120 -20,596,558   -11,915,136  -6,689,970      -106,693,627 54,661,323 13,652,883 3,667,249 
      yoy
    		487.38% -80.34% -504.16% -78.63% -87.68% -0.84% 127.72% 95.02% 276.70% 108.15% -143.72% 209.17% 44.03% 323.37% 361.66% -53.72% 2521.40% -51.77%           -31.37%                
      qoq
    		449.31% -95.53% 955.00% 126.56% -81.62% -191.98% -155.78% 30.66% 47.93% -311.21% -147.77% 152.39% -18.26% -55.64% 237.82% 17.58% 140.27% -51.63% -66.13% 6559.59% -95.58%        -60.30%            -295.19% 300.36% 272.29%  
      net income margin %
    		                                            
      ​
    		                                            
      weighted-average shares outstanding:
    		                                            
      basic
    		42,535,822 42,427,473 40,275,350 42,574,256 42,491,949 40,905,196 40,026,313 40,350,476 40,281,518 40,137,687 40,203,937 40,091,299 40,021,368 39,898,485 49,729,358 39,890,674 40,011,505 40,944,845 53,881,483 50,255,908 50,711,714 50,554,233 54,513,118 53,944,991 54,646,451 54,552,994  54,441,203   54,039,886              
      diluted
    		42,639,337 42,488,024 40,450,567 42,595,323 42,600,848 41,115,667 40,211,642 40,507,503 40,405,417 40,378,835 40,365,088 40,254,774 40,159,117 40,124,705 49,826,798 40,025,399 40,114,942 41,165,138 54,115,338 50,368,392 50,754,507 50,679,449 54,513,118 54,176,748 54,763,634 54,881,326  54,441,203   54,039,886              
      earnings per common share—basic
    		1.3 0.24 5.68 0.5 0.22 1.25 -1.37 2.48 1.9 1.29 -0.62 1.28 0.51 0.62 0.95 0.42 0.35 0.14 0.24 0.71 0.01 0.24                   -1.83 0.97   
      earnings per common share—diluted
    		1.3 0.24 5.65 0.5 0.22 1.25 -1.36 2.47 1.89 1.28 -0.62 1.27 0.51 0.62 0.96 0.41 0.35 0.14 0.24 0.71 0.01 0.24                   -1.83 0.97   
      other gain
    		 6,055        105,421                                   
      unrealized gain/(loss) on derivatives
    		  3,144,913 2,865,617 -5,583,238 -421,627 -412,613 -6,070,320   1,211,766 -700,015      433,726 -22,159,183 479,534 3,968,686  -2,524,897 1,446,395 -667,110 -6,070,789 12,331,721 -6,669,266 1,051,460 1,707,616   652,160     6,528,203  -4,369,859     
      total other income/(expenses)
    		  -5,508,850 -2,021,606 -9,667,481 -4,185,385 -7,672,006 -10,367,948 -3,975,414 -3,901,170 -2,307,955 -6,230,365 -7,826,351 -4,099,284 -5,164,657 -5,970,087 -5,013,507 -7,386,788 -27,949,695 -6,050,271 -4,875,810 -10,351,797 -14,102,046 -6,129,845 -8,554,531 -14,197,447 6,579,674 -15,531,942 -7,858,418 -7,431,385 -4,139,442 -5,325,689 -8,380,416  -6,396,524 6,588,027 8,493,583 -2,934,748  -13,704,387 5,241,547 650,018 359,289  
      unrealized gain on derivatives
    		        1,560,594 2,859,274   3,092,845 2,454,234 1,051,366.25 3,056,741 714,998              513,282.25 3,771,160    6,634,912.5 24,381,306        
      realized gain/(loss) on derivatives
    		         1,847,764 -5,448,258 1,404,004 644,195      6,497,289 -760,991 -2,129,695 -806,229     -3,823,718 881,276 830,991 782,565               
      gain on disposal of vessels
    		                                            
      realized loss on derivatives
    		             -50,384 -678,584.25 -895,782 -914,837 -903,718             89,838 -369,941 -435,920  -612,863 9,253,260 -8,390,014 -2,333,915  -2,256,788     
      gain on disposal of vessel
    		              866,552.5  3,466,210                            
      professional and legal fees related to the bw proposal
    		                          2,505,109 7,766,847                 
      operating income/
    		                      -119,259,726 41,758,757 49,266,427 20,272,506 8,011,970 9,313,290   791,984.5 6,996,104 -3,534,720  -293,446 -357,099 -3,453,959 -4,210,840       
      net income/
    		                      -133,361,772 35,628,912 40,711,896 6,075,059 -8,748,082.5 -6,218,652   -3,465,995 1,670,415    6,230,928 5,039,624 -7,145,588  -1,291,121     
      earnings/(loss) per common share—basic
    		                      -2.45 0.66 0.75 0.11 -0.16 -0.11   -0.07 0.03    0.15 0.09 -0.13       
      earnings/(loss) per common share—diluted
    		                      -2.44 0.66 0.74 0.11 -0.16 -0.11   -0.07 0.03    0.15 0.09 -0.13       
      voyage charter revenues
    		                               335,244 1,733,247   324,238 1,296,952    -34,803,073 15,567,844 14,864,184  
      gain on early extinguishment of debt
    		                                  4,117,364          
      foreign currency loss
    		                            -40,120 -8,258 4,371 -147,097   -68,916 -63,775.75 -193,160    -104,697.25 -121,352   
      weighted-average shares outstanding:
    		                                            
      basic and diluted
    		                          54,039,886  54,431,820 54,237,237               
      loss per common share—basic and diluted
    		                            -0.15 -0.38               
      foreign currency (gain)/loss
    		                                -22,452            
      loss per common share—basic
    		                                -0.22  -0.12          
      loss per common share—diluted
    		                                -0.22  -0.12          
      loss on disposal of assets
    		                                        26,387.25  -105,549  
      foreign currency gain/(loss)
    		                                     766  -62,709   9,016 -73,693 
      earnings/(loss) per common share—basic and diluted
    		                                       -0.02     
      management fees—related party
    		                                           1,125,000 
      gain/(loss) on derivatives
    		                                        -204,231.5 5,382,442 142,395  
      net pool income
    		                                          15,310,559  
      other income—related party
    		                                          383,642  
      earnings per common share, basic and diluted
    		                                          0.24 0.07 
      loss on derivatives—net
    		                                           -1,388,144 
      total other income/(loss)
    		                                           -1,533,022 
      weighted-average number of common shares outstanding, basic and diluted
    		                                           53,346,160 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.