Northern Ocean Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	28.11	37.51	42.75	54.35	67.49	5.46
Cash & Short-Term Investments	28.11	37.51	42.75	54.35	67.49	5.46
Cash Growth	-51.53%	-12.26%	-21.34%	-19.47%	1135.93%	-85.43%
Accounts Receivable	3.73	25.02	54.97	47.91	19.16	-
Other Receivables	-	-	-	0.13	0.95	3.51
Total Trade Receivables	3.73	25.02	54.97	48.04	20.11	3.51
Inventory	-	-	0.34	-	-	-
Other Current Assets	5.19	4.62	4.31	29.67	47.01	14.79
Total Current Assets	37.05	67.17	102.5	132.19	134.8	23.76
Net Property, Plant & Equipment	434.82	439.87	929.2	923.72	917.9	953.76
Other Long-Term Assets	-	-	-	-	1.27	0.04
Total Assets	471.86	507.02	1,032	1,056	1,054	977.55
Accounts Payable	-	0.03	0.05	0	-	0.08
Short-Term Debt	-	-	14.95	29.98	19.97	10
Current Portion of Long-Term Debt	100	100	-	53.73	-	-
Current Portion of Leases	0.02	0.03	0.11	0.11	0.2	-
Unearned Revenue	0.11	0.11	3.97	14.74	22.22	1.92
Other Current Liabilities	49.23	59.31	47.87	59.67	36.97	7.45
Total Current Liabilities	149.36	159.47	66.95	158.22	79.36	19.46
Long-Term Debt	-	-	515.85	457.95	461.23	459.53
Long-Term Leases	-	-	-	-	0.16	-
Other Long-Term Liabilities	2.47	2.5	2.61	2.72	6.24	2.93
Total Long-Term Liabilities	2.47	2.5	518.45	460.66	467.63	462.47
Total Liabilities	151.82	161.97	585.4	618.89	546.98	481.92
Common Stock	-	151.61	151.61	91.34	90.81	63.8
Additional Paid-in Capital	-	580.99	580.21	565.61	565.18	488.33
Accumulated Other Comprehensive Income	-	0.73	-0.05	-0.11	-0.15	-0.35
Retained Earnings	-	-388.27	-285.6	-219.95	-149.05	-56.16
Shareholders' Equity	320.03	345.05	446.16	436.9	506.8	495.63
Total Liabilities & Equity	471.86	507.02	1,032	1,056	1,054	977.55
Total Debt	100.02	100.03	530.91	541.76	481.56	469.53
Net Cash (Debt)	-71.91	-62.52	-488.16	-487.41	-414.06	-464.07
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.24	-0.21	-1.73	-2.67	-3.58	-7.27
Book Value	320.03	345.05	446.16	436.9	506.8	495.63
Book Value Per Share	1.06	1.14	1.58	2.39	4.39	7.77
Tangible Book Value	320.03	345.05	446.16	436.9	506.8	495.63
Tangible Book Value Per Share	1.06	1.14	1.58	2.39	4.39	7.77