Vantage (VNTG) investor relations material

Executive summary

• Fiscal 2026 was marked by challenging market conditions, including market volatility, geopolitical disruptions, tariffs, sanctions, and global trade dislocation, particularly in maritime transportation.

• Revenue declined year-over-year due to softer market conditions, reduced transaction volumes, and ongoing uncertainty in international trade and shipping demand.

• Completed strategic acquisitions (PJ Shanghai, Peijun Marine, PJ Singapore), strengthening business resilience and supporting long-term growth direction.

• Maintained focus on disciplined execution, operational adjustments, and advancing core priorities despite headwinds.

• Increased total fixing volume year-over-year across DPP, Specialized, and Projects segments, demonstrating business resilience.

Financial highlights

• Revenue for fiscal 2026 was $17.8 million, down from $18.7 million year-over-year, reflecting softer market conditions and reduced transaction volumes.

• Gross profit was $7.4 million (41.5% margin), compared to $8.6 million (46.2% margin) last year, impacted by higher compensation and commission expenses.

• Net loss of $1.3 million, compared to net income of $3.8 million in the prior year, due to higher operating expenses and acquisition-related costs.

• Cash and cash equivalents totaled $8.9 million as of March 31, 2026.

• Adjusted EBITDA was $(129,000), down from $4.9 million in the prior year.

Outlook and guidance

• Management expects gradual normalization of charter demand and recovery in the forward order book as geopolitical tensions ease.

• Early indicators in fiscal 2027 show continued or slightly growing fixture volumes despite ongoing headwinds.

• Strategic priorities include growing term contracts, restoring/scaling Dubai operations, expanding in China, pursuing M&A in the Americas and Europe, and monetizing IT platforms.

• Diversification of revenue streams and IT business monetization targeted for Q3 or year-end 2026.