Heidmar reports strong Q2 revenue growth and strategic fleet expansion

Heidmar Maritime Holdings Corp. reported robust financial performance for the second quarter of 2026, highlighting significant growth in revenue and net income. The company's results underscore its strategic expansion and operational efficiency.

For the quarter ended June 30, 2026, Heidmar reported total revenues of $29.0 million, a substantial increase from $9.6 million in the same period last year and a rise of $10.6 million from the first quarter of 2026. The net income attributable to shareholders was $2.2 million, or $0.04 per share, marking an improvement over the $0.02 per share reported in the second quarter of 2025. Adjusted net income, which excludes non-cash stock-based compensation, stood at $2.4 million.

During the second quarter, the company added seven vessels to its commercially managed fleet, including state-of-the-art scrubber-fitted and dual-fuel LNG capable Suezmax and Aframax tankers, along with two MR tankers. These additions align with Heidmar’s asset-light growth strategy, which allows for scalable expansion without significant capital outlay. The fleet's growth is expected to further enhance operational efficiency and revenue generation.

In the first half of 2026, the company's total revenue reached $47.3 million, a $32.1 million jump from $15.2 million in the same period of 2025. The increase is attributed to a higher number of vessels employed on short-term spot and time charter voyages, contributing to the overall expansion of the commercially managed fleet. Adjusted net income for the first half of 2026 was $5.0 million, or $0.08 per share.

Pankaj Khanna, Chief Executive Officer of Heidmar, commented, "We are pleased to report another quarter of strong operational and strategic progress. The company’s growth in revenue and adjusted net income reflect our continued expansion and the effective management of our fleet."

The quarter saw Heidmar achieve compliance with Nasdaq listing requirements, overcoming a deficiency notice. Additionally, on July 1, 2026, the company acquired Q-Shipping B.V., a ship management and crewing business, for approximately $0.2 million. The acquisition added nine vessels to Heidmar's managed fleet and established a presence in the Netherlands and Turkey, alongside crewing capabilities in Ukraine. This move is expected to be immediately accretive to management fee revenue and deepen the company’s access to seafaring talent and strategic maritime hubs.

Looking ahead, Heidmar plans to leverage artificial intelligence (AI) to further enhance its commercial and operational platforms. AI-driven tools will integrate data and workflows across chartering, operations, and finance, automating tasks and providing clearer visibility into fleet performance. The company believes these advancements will support more predictive, data-informed decision-making, from voyage and route optimization to commercial planning.

Market conditions remain volatile, driven by geopolitical tensions, particularly in the Middle East and Europe. The tanker market faced challenges, with seaborne crude volumes contracting and war risk premiums escalating. However, Suezmax and Aframaxes have outperformed VLCCs, trading at historical highs. Heidmar's commercially managed platform is well-positioned to capture this volatility on behalf of its fleet partners.

As the company looks towards the winter months, it anticipates rates to remain elevated, potentially strengthening further depending on geopolitical developments. The acquisition of Q-Shipping B.V. and the AI-driven enhancements are expected to bolster Heidmar's strategic position, supporting its goal of maximizing customer profitability and maintaining market leadership.

Heidmar will host a conference call to discuss its financial results on September 1, 2026, at 8:30 a.m. Eastern Time. Participants can dial into the call using the provided numbers or register for the live webcast available on the company's website. The call and webcast details are listed for convenience. For more information, visit www.heidmar.com. The information on the company's website does not form part of this release.

This release contains forward-looking statements that reflect the company's current expectations and are subject to risks and uncertainties. Readers are encouraged to consult the company's filings with the Securities and Exchange Commission for a discussion of important factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. The company does not undertake to update any forward-looking statements.