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
Short-Term Investments	-	0.04	0.04	0.04	0.04	1.19
Cash & Short-Term Investments	28.11	37.55	42.79	54.39	67.53	6.65
Cash Growth	-51.56%	-12.25%	-21.33%	-19.46%	915.78%	-82.26%
Accounts Receivable	3.73	25.02	54.97	47.91	19.16	-
Other Receivables	-	3.37	0.6	0.62	3.91	4.51
Receivables	3.73	28.39	55.57	48.53	23.07	4.51
Inventory	-	-	0.34	-	0.49	-
Restricted Cash	0.13	0.17	0.14	0.14	5.43	10.15
Other Current Assets	5.08	1.06	3.67	29.13	38.29	2.45
Total Current Assets	37.05	67.17	102.5	132.19	134.8	23.76
Property, Plant & Equipment	434.81	439.86	929.07	923.59	917.71	953.76
Long-Term Deferred Tax Assets	-	-	-	-	-	0.04
Long-Term Deferred Charges	-	-	-	-	1.27	-
Total Assets	471.86	507.02	1,032	1,056	1,054	977.55
Accounts Payable	-	9.44	12.59	5.17	7.66	2.33
Accrued Expenses	-	36.94	17.57	43.48	27.33	4.21
Current Portion of Long-Term Debt	-	100	14.95	83.7	19.97	10
Current Portion of Leases	0.02	0.03	0.12	0.11	0.2	-
Current Unearned Revenue	0.11	0.11	3.97	14.74	22.22	1.92
Other Current Liabilities	49.23	12.96	17.76	11.02	1.98	1
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	-
Long-Term Unearned Revenue	2.47	2.5	2.61	2.72	6.24	2.93
Total Liabilities	151.82	161.97	585.4	618.89	546.98	481.92
Common Stock	320.03	151.61	151.61	91.34	90.81	63.8
Additional Paid-In Capital	-	580.99	580.21	565.61	565.18	488.33
Retained Earnings	-	-388.27	-285.6	-219.95	-149.05	-56.16
Comprehensive Income & Other	-	0.73	-0.05	-0.11	-0.15	-0.35
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	-62.48	-488.13	-487.37	-414.03	-462.88
Net Cash Per Share	-0.24	-0.21	-1.72	-2.67	-3.58	-7.25
Filing Date Shares Outstanding	289.23	303.22	303.22	182.68	181.62	103.8
Total Common Shares Outstanding	289.23	303.22	303.22	182.68	181.62	63.8
Working Capital	-112.31	-92.31	35.55	-26.04	55.45	4.31
Book Value Per Share	1.11	1.14	1.47	2.39	2.79	7.77
Tangible Book Value	320.03	345.05	446.16	436.9	506.8	495.63
Tangible Book Value Per Share	1.11	1.14	1.47	2.39	2.79	7.77
Machinery	-	564.69	1,104	1,067	1,033	1,029
Order Backlog	-	17	-	-	-	-