Stabilis Solutions (SLNG) lands $200M LNG contract and advances $350–$400M Galveston project

Rhea-AI Filing Summary

Stabilis Solutions released preliminary fourth quarter 2025 results and highlighted major strategic developments. The company has secured a historic, multi-year take-or-pay LNG supply contract for a U.S. behind-the-meter data center power project, with an estimated total contract value of $200 million over its initial two-year term starting in the first quarter of 2027. Management expects this agreement to generate about $100 million in annual revenue, more than its total consolidated revenue in any prior year, and to establish a significant entry into the data center power market.

Stabilis is also advancing its proposed Galveston LNG liquefaction and bunkering project toward a targeted Final Investment Decision by the end of the first quarter 2026. The project, requiring an estimated $350 million to $400 million of capital, has customer commitments for about 56% of its planned 350,000 gallons-per-day capacity, with financing discussions in progress. Two multi-year contracts that contributed approximately 19% and 32% of 2025 revenues ended in the fourth quarter, and management describes 2026 as a transitional year as it redeploys assets and prepares for anticipated growth tied to new long-term agreements and the Galveston facility, which is expected to be on-stream by year-end 2027.

Positive

• Transformational LNG contract: Award of a multi-year, take-or-pay LNG supply agreement with an estimated value of $200 million over its initial 2027–2029 term, expected to generate about $100 million in annual revenue, more than any prior full-year revenue for the company.
• Galveston LNG project progression: Proposed Galveston liquefaction and bunkering project advancing toward an expected FID by the end of Q1 2026, with roughly 56% of its planned 350,000 gpd capacity under customer commitments and detailed financing negotiations in progress.

Negative

• Loss of major revenue sources: Two multi-year customer contracts, which contributed approximately 19% and 32% of 2025 revenues, respectively, concluded in the fourth quarter, creating a near-term revenue gap.
• Transitional year ahead: Management expects 2026 to be a transitional year as it redeploys assets and personnel and works to replace the concluded contracts while larger new projects and contracts do not begin contributing until 2027.

Insights

Energy infrastructure and LNG strategist

$200M LNG contract and Galveston project reshape Stabilis’ medium-term profile.

Stabilis Solutions has secured a multi-year, take-or-pay LNG contract with an estimated value of $200 million for a data center power application, starting in the first quarter of 2027. Management states this should contribute roughly $100 million of annual revenue, exceeding any prior full-year revenue, and marks its first entry into the data center behind-the-meter segment.

Concurrently, the Galveston LNG liquefaction and bunkering project is moving toward a targeted FID by the end of Q1 2026, with about 56% of its 350,000 gpd capacity under customer commitments and total capital needs of $350 million to $400 million. Financing talks and due diligence are underway, indicating an advanced development stage but still contingent on final approvals and documentation.

There are near-term headwinds: two multi-year contracts that accounted for approximately 19% and 32% of 2025 revenues have concluded, and management characterizes 2026 as a transitional year as it pursues replacement work. The company frames 2027 as a potential inflection point, based on the new contract ramp and preliminary expectations for Galveston to be on-stream by year-end, though actual outcomes will depend on contract execution, project delivery, and LNG market conditions.

false 0001043186 0001043186 2026-02-17 2026-02-17

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 17, 2026

Stabilis Solutions, Inc.

(Exact name of registrant as specified in its charter)

Florida	001-40364	59-3410234
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11750 Katy Freeway Suite 900 Houston, Texas	77079
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 832-456-6500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $.001 par value	SLNG	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

The information set forth under item 7.01 is incorporated by reference as if fully set forth herein.

Item 7.01 Regulation FD Disclosure.

On February 17, 2026, Stabilis Solutions, Inc. (the “Company”) issued a press release announcing preliminary fourth quarter 2025 results and issued an update on recent strategic milestones, including the award of a multi-year take-or-pay LNG supply agreement with an estimated contract value of $200 million commencing in 2027. A copy of the Company's press release is furnished as Exhibit 99.1 to this Form 8-K.

The Company’s press release contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or (“GAAP”). Pursuant to the requirements of Regulation G, the Company has provided within the press release quantitative reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

The information in this Current Report, including the exhibit, is being furnished pursuant to Item 7.01 of Form 8-K and General Instruction B.2 thereunder. The information in this Current Report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

Exhibits:

Exhibit No.	Description
99.1	Press release dated February 17, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STABILIS SOLUTIONS, INC.

By: /s/ Andrew L. Puhala

Andrew L. Puhala

Chief Financial Officer

Date: February 17, 2026

Exhibit 99.1

STABILIS SOLUTIONS ANNOUNCES PRELIMINARY FOURTH QUARTER 2025 RESULTS,

PROVIDES BUSINESS UPDATE

Houston, February 17, 2026 -- Stabilis Solutions, Inc., (“Stabilis” or the “Company”) (Nasdaq: SLNG), a leading provider of clean energy production, storage, and delivery solutions, today announced preliminary fourth quarter 2025 results and issued an update on recent strategic milestones, including the award of a historic, multi-year take-or-pay LNG supply agreement with an estimated contract value of $200 million, commencing in 2027.

PRELIMINARY FOURTH QUARTER 2025 RESULTS

All listed ranges are an estimate, based on information available to management as of the date of this release, and are subject to change subject to customary closing procedures. Please see the Company’s Financial Disclosure Advisory in the appendix of this release.

● Revenues of between $13.0 million and $13.5 million

● Net loss of between ($0.3) million and ($0.5) million

● Adjusted EBITDA of between $1.4 million and $1.6 million

$200 MILLION DATA CENTER CONTRACT AWARD

Stabilis was recently awarded a multi-year take-or-pay contract to supply LNG for a U.S. behind-the-meter power generation application for a world-leading provider of remote and temporary power generation and energy services. LNG deliveries are expected to commence during the first quarter of 2027 and continue through the first quarter of 2029. Stabilis anticipates total revenue under the initial two-year term of the contract of approximately $200 million. This contract represents the Company’s first-ever contract in support of data center behind-the-meter power generation, consistent with its strategic focus on growing, high-value vertical markets.

GALVESTON LNG LIQUEFACTION AND BUNKERING PROJECT

Stabilis continues to advance its proposed Galveston liquefaction facility and Jones Act-compliant LNG bunkering vessel (“the Project”) toward an expected Final Investment Decision (“FID”) by the end of the first quarter 2026. Stabilis has secured customer commitments for approximately 56% of the project’s planned 350,000 gallons-per-day (“gpd”) capacity and is engaged in late-stage discussions with multiple potential customers to secure the remaining available offtake. The total capital required for the Project is estimated at $350 million to $400 million. Financing for the Project is progressing with counterparties conducting detailed due diligence and active negotiations on definitive documentation and key commercial terms.

CONCLUSION OF MULTI-YEAR LNG SUPPLY CONTRACTS

During the fourth quarter, two multi-year customer contracts concluded in accordance with their terms. The completed contracts were for temporary remote power in Louisiana, and the Company’s truck-to-vessel LNG marine bunkering services in Galveston, Texas. The marine customer elected not to extend the agreement due to the unavailability of suitable Jones Act-compliant LNG bunker vessels during the contemplated extension period. The two contracts accounted for approximately 19% and 32% of 2025 revenues, respectively.

The Company is engaged in late-stage discussions for new customer opportunities and expects to redeploy assets and personnel to support replacement work during 2026.

MANAGEMENT COMMENTARY

“Following the conclusion of customer contracts within our marine bunkering and power generation markets, we anticipate 2026 will be a transitional year for our organization as we prepare to support new, long-term customer agreements, while continuing to advance toward FID under our Galveston LNG project,” said Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer.

“The recently awarded multi-year contract for LNG for behind the meter power will be transformational for the Company,” continued Crenshaw. “On an annualized basis, we expect this contract will represent approximately $100 million in revenue – more than our total, consolidated annual revenue in any year since our inception, with an anticipated contract commencement planned for the first quarter 2027. In addition to providing us longer-term demand certainty, this contract provides a definitive, high-value entry point into the data center power generation market, a key area of strategic focus for our organization.”

“Looking ahead, 2027 is shaping up to be a historic year for Stabilis,” concluded Crenshaw. “Given current contract commitments, customer indications of interest, and preliminary expectations for our Galveston LNG facility to be on-stream by year-end 2027, we’re building steady momentum toward a positive inflection in our business, one guided by a continued focus on disciplined execution, financial conservatism, and a returns-driven approach toward capital allocation.”

FOURTH QUARTER AND FULL YEAR 2025 CONFERENCE CALL AND WEBCAST DATE

Today the Company announced that it will issue fourth quarter and full year 2025 results after the U.S. markets close on Wednesday, March 4, 2026. A conference call will be held on Thursday, March 5, 2026, at 9:00 a.m. ET to review the Company’s financial results and conduct a question-and-answer session.

A webcast of the conference call will be available in the Investor Relations section of the Company’s corporate website at https://investors.stabilis-solutions.com/events. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.

1

To participate in the live teleconference:

Domestic Live:	800-245-3047
International Live:	203-518-9765
Conference ID:	SLNGQ425

To listen to a replay of the teleconference, which will be available through March 12, 2026:

Domestic Live:	800-839-4197
International Live:	402-220-2987

ABOUT STABILIS SOLUTIONS

Stabilis Solutions (Nasdaq: SLNG) is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com.

FINANCIAL DISCLOSURE ADVISORY

The Company has not yet completed its reporting process for the fourth quarter and fiscal year-ended December 31, 2025. The preliminary results presented herein are based on its reasonable estimates and the information available to it at this time and, because of their preliminary nature, in certain cases, the Company has provided ranges, rather than specific amounts. As such, the Company’s actual results may materially vary from the preliminary results presented herein and will not be finalized until the Company reports its final results for fourth quarter of fiscal year 2025 after the completion of its normal quarter end accounting procedures and the execution of its internal controls over financial reporting. In addition, any statements regarding the Company’s estimated financial performance for the fourth quarter and fiscal year 2025 do not present all information necessary for an understanding of the Company’s financial condition and results of operations as of and for the quarterly and annual period ended December 31, 2025.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “can,” “believes,” “feels,” “anticipates,” “expects,” “could,” “will,” “plan,” “may,” “should,” “predicts,” “potential,” “outlook” and similar expressions are intended to identify such forward-looking statements.

Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, availability of financing, ability to achieve the conditions precedent to the bunkering agreement, ability to achieve additional offtake necessary for FID, construction delays or cost overruns, regulatory or other legal impediments, and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 25, 2025 which is available on the SEC’s website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

CORPORATE CONTACT

Andrew Puhala

Chief Financial Officer

ir@stabilis-solutions.com

2

FAQ

What major contract did Stabilis Solutions (SLNG) announce in its latest update?

Stabilis announced a multi-year, take-or-pay LNG supply contract with an estimated value of $200 million. The agreement supports a U.S. behind-the-meter power generation project for a leading remote power provider and is expected to run from the first quarter of 2027 through the first quarter of 2029.

How significant is the new LNG contract to Stabilis Solutions’ (SLNG) revenue outlook?

Management expects the new LNG contract to generate about $100 million in annual revenue. They note this exceeds the company’s total consolidated revenue in any previous year, indicating a potentially transformative impact once deliveries begin in 2027.

What progress has Stabilis Solutions (SLNG) made on the Galveston LNG project?

Stabilis is advancing its Galveston LNG liquefaction and bunkering project toward an expected FID by end of Q1 2026. It has customer commitments for about 56% of the planned 350,000 gpd capacity and estimates total capital needs at $350 million to $400 million.

Which existing contracts ended for Stabilis Solutions (SLNG), and how important were they?

Two multi-year contracts for Louisiana remote power and Galveston marine LNG bunkering concluded in the fourth quarter. These contracts represented approximately 19% and 32% of 2025 revenues, respectively, highlighting a meaningful near-term reduction in contracted revenue.

Why does Stabilis Solutions (SLNG) describe 2026 as a transitional year?

The company expects 2026 to be transitional after the conclusion of two large contracts. Management plans to redeploy assets and personnel toward new customer opportunities while preparing to serve the newly awarded long-term agreements and progressing the Galveston LNG project.

When does Stabilis Solutions (SLNG) expect the Galveston LNG facility to be operating?

Stabilis has preliminary expectations for the Galveston LNG facility to be on-stream by year-end 2027. This timing, combined with the start of the new data center LNG contract in early 2027, underpins management’s view of 2027 as a potential inflection year.

When will Stabilis Solutions (SLNG) report full fourth quarter and 2025 results?

The company plans to release full fourth quarter and 2025 results after U.S. markets close on March 4, 2026. A conference call and webcast are scheduled for March 5, 2026, to discuss the results and take questions from participants.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 21.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB