Significant Revenue Growth
Achieved more than 15% revenue growth in Q3 2024, with a shift from spot sales to longer-term contractual agreements. 68% of Q3 revenue was under ratable contractual agreements, up from 43% in the previous year.
Improved Liquidity and Cash Position
Ended Q3 with $15.6 million of available cash and liquidity, up from $8.6 million in the previous year. Maintained a net cash position on the balance sheet.
Marine and Aerospace Markets Expansion
Realized a threefold year-over-year increase in revenues within marine and aerospace growth markets, now comprising approximately 40% of total revenues compared to 11% last year.
Successful Data Center Strategy
Anticipated significant opportunities in data centers, which are expected to consume 22 gigawatts of power by 2030, equivalent to roughly 23 billion incremental LNG gallons of demand per year.
Record Adjusted EBITDA
Achieved a record Adjusted EBITDA of $2.6 million for Q3, with an increase of $2.1 million compared to the prior year period. Adjusted EBITDA margin increased from 3.5% to 14.6%.