From GlobeNewswire: 2025-06-10 16:15:00

Heidmar Maritime Holdings Corp. reported a total net revenue of $5.8 million for the first quarter of 2025. Adjusted net income was $875,194 or $0.02 per share, excluding non-cash expenses. The decrease in revenue from the same period in 2024 was due to fewer vessels under management and terminated syndication agreements.

CEO Pankaj Khanna stated that Q1 results reflect business acquisition effects and challenging business environment. With declining freight rates, Heidmar sees an opportunity to rebuild its Time Charter book. The company aims to conclude deals within the second half of the year and is committed to its maritime services and project development strategy.

Heidmar will host a conference call on June 11, 2025, to discuss financial results. Participants can dial in using provided numbers or register online. A live webcast of the call will be available on the company’s website. Heidmar, celebrating its 40th anniversary, offers commercial and pool management services in the tanker market.

Financial tables show a net loss of $6.0 million for the first quarter of 2025. Cash and cash equivalents were $19,159,218 as of March 31, 2025. Adjusted EBITDA was $1.2 million, excluding non-cash expenses. The company’s business combination with MGO Global Inc. led to the commencement of trading on the Nasdaq Capital Market under the symbol “HMR”.

Adjusted EBITDA and Adjusted net income are non-GAAP financial measures used by Heidmar to evaluate operating profitability and performance. Adjusted net income excludes non-cash expenses for a more accurate representation of core operations. The company’s unique business model and experience in the maritime industry help achieve premier market coverage and provide seamless commercial transportation services.



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