Vantage Corp Reports Financial Results for the First Half Fiscal 2026 Ended September 30, 2025

SINGAPORE--(BUSINESS WIRE)--Vantage Corp (NYSE American: VNTG) (“Vantage” or the “Company”), a shipbroking company providing comprehensive services including brokerage, consultancy, and operational support in the tanker market, reports financial and operational results for the first six months of fiscal 2026 ended September 30, 2025. Recent Operational Highlights Closed the acquisition of PJ Marine Singapore Pte. Ltd. (“PJ Singapore”) Entered into a Sales and Purchase Agreement (SPA) to acquire three shipbroking firms, PJ Singapore, PJ Marine Shanghai Co., Ltd. (“PJ Shanghai”), and Peijun Marine Consultant Co., Limited (“Peijun Marine”) Announced and executed on over half of the proposed $1 million share repurchase program Management Commentary “Over the past several months since our public listing, we’ve made some encouraging strides towards our global expansion initiative,” said Vantage Corp CEO Andre D’Rozario. “Starting with our most recent news, we were pleased to close the acquisition of PJ Singapore, in addition to entering into a SPA to acquire PJ Shanghai and Peijun Marine. These three acquisitions support our entry into the China market, which we believe has significant potential within the Petrochemicals and Sales & Purchase (S&P) market. These three firms not only align with Vantage operationally but provide us with the necessary network and infrastructure to accelerate our presence in the China market. “Looking ahead, we intend to continue focusing on our global expansion initiative through inorganic means. We are continuing to evaluate a handful of opportunities in Europe and North America, including the potential acquisitions of shipbroking firms as well as targeted talent acquisitions of experienced brokers across global markets. These efforts are aimed at delivering immediate impact to our global footprint and client network. By strategically adding firms and personnel that align with Vantage’s mission and vision, we aim to continue growing and scaling our operational presence in Singapore, Dubai, China, and explore opportunities to eventually enter the European and North American markets.” First Half Fiscal 2026 Financial Results Total revenue for the six months ended September 30, 2025, was $8.5 million compared to $10.4 million in the same period last year. The decrease primarily reflects broader market pressures driven by external factors, including tariffs imposed by President Trump and the July 2025 sanctions, which introduced uncertainty across global trade and dampened overall demand, in addition to decrease in revenue from DPP operations. Gross profit for the six months ended September 30, 2025, was $4.9 million, while gross margin was 57.8%. Gross profit for the same period last fiscal year was $7.2 million, while gross margin was 68.6%. The decrease was primarily driven by current market conditions resulting in leaner commission structures, partially offset by the Company’s increased focus on cost management. Total operating expenses for the six months ended September 30, 2025, were $2.9 million compared to $1.5 million in the same period last year. The increase was primarily due to higher general and administrative expenses primarily driven by post-IPO structural adjustments, in addition to modest increase in selling and marketing and depreciation and amortization expenses. Net income for the six months ended September 30, 2025, was $1.5 million compared to $4.7 million in the same period last year. The decline reflects both lower revenue and higher operating expenses, partially offset by ongoing cost management initiatives. EBITDA for the six months ended September 30, 2025, was $2.2 million compared to $5.7 million in the same period last year. Forward book order for the six months ended September 30, 2025 was $1.2 million compared to $760,000 in the same period last year. As of September 30, 2025, cash and cash equivalents were $11.7 million compared to $5.9 million on March 31, 2025. The increase during the six month period was primarily driven by net IPO proceeds. Vantage Corp CFO Lilian Lim commented: “Amid heightened market volatility during the six-month period stemming from tariffs and sanctions, we executed strategic changes to our business model that have meaningfully improved the sustainability and predictability of our future income streams. This includes a deliberate shift in focus toward term contracts, which provide stable and predictable income regardless of market volatility, compared to our prior heavy reliance on spot fixtures that are typically one-off, non-recurring contracts. As a result of this strategy shift, term contracts increased 8.9% year-over-year, and our forward order book grew to $1.2 million. Going forward, we remained focused on expanding our forward order book to enhance revenue visibility across future quarters and support efficient cost management.” Conference Call Vantage Corp CEO Andre D’Rozario will host a conference call and webcast tomorrow, January 21, 2026, at 8:30 a.m. Eastern time to discuss its financial and operational results for the first six months of fiscal 2026 ended September 30, 2025. To listen to the audio webcast, please visit Vantage Corp’s Investor Relations website at https://www.vantageshipbrokers.com/investors or use the webcast link below. A replay of the webcast will also be available on Vantage Corp’s Investor Relations website shortly after the call. Date/Time: Wednesday, January 21, 2026, at 8:30 a.m. Eastern time Dial-In: https://register-conf.media-server.com/register/BI8f2aca1110b741a89fd5d8eb14b9386fWebcast: https://edge.media-server.com/mmc/p/3hgg2yrtEarnings Presentation: https://www.vantageshipbrokers.com/investors-news-events First Half Fiscal 2026 Revenue by Commission Type and Geographical Region For the Six Months Ended September 30, 2025 Singapore Dubai Total US$ US$ US$ Freight commission 6,044,533 155,402 6,199,935 Freight hire commission 1,530,697 7,503 1,538,200 Demurrage commission 690,679 15,289 705,968 Deviation and other commission 85,140 3,942 89,082 Total 8,351,049 182,136 8,533,185 For the Six Months Ended September 30, 2024 Singapore Dubai Total US$ US$ US$ Freight commission 7,811,621 183,840 7,995,461 Freight hire commission 1,307,220 104,764 1,411,984 Demurrage commission 826,696 966 827,662 Deviation and other commission 189,343 2,928 192,271 Total 10,134,880 292,498 10,427,378 Non-GAAP Financial Measure: Adjusted EBITDA To supplement our GAAP results, we present Adjusted EBITDA, a non-GAAP financial measure that we define as net income adjusted for interest expense, income tax, depreciation and amortization, and interest income (including interest earned on fixed deposits). We use Adjusted EBITDA to evaluate core operating performance and guide strategic planning. This measure is widely used by investors and analysts to assess underlying business performance, excluding items that may vary significantly across companies. For the Six Months Ended September 30, 2025 2024 US$ US$ Net Income (GAAP) 1,473,399 4,688,060 Add (Deduct): Interest Expenses 23,530 6,581 Income Tax 493,404 961,716 Depreciation and Amortization 244,970 102,927 Interest Income (585) (13,080) Adjusted EBITDA 2,234,718 5,746,204 Form 6-K Vantage Corp has filed its Form 6-K with an interim balance sheet and semi-annual income statement as of September 30, 2025, with the U.S. Securities and Exchange Commission on January 05, 2026. The report is available on the SEC’s website at www.sec.gov and on the Company’s website at https://www.vantageshipbrokers.com/investors. About Vantage Corp Founded in 2012 by five seasoned shipbrokers, Vantage Corp provides comprehensive shipbroking services, including operational support and consultancy services, in the tanker markets, covering clean petroleum products (“CPP”) and petrochemicals, dirty petroleum products (“DPP”), biofuels and vegetable oils. Vantage Corp also has a sales & projects team, a research/strategy team and an IT team. Vantage over the years has emerged as a trusted intermediary and a pivotal link between oil companies, traders, shipowners, and commercial managers, ensuring smooth logistical flow for cargo deliveries to timely demurrage and claims settlements. Through its 100%-owned subsidiary Vantage (BVI) Corporation, Vantage Corp operates a growing network of regional subsidiaries, including Vantage Shipbrokers Pte Ltd (Singapore), Vantage Nexus Commercial Brokers Co., L.L.C (UAE), and PJ Marine Singapore Pte. Ltd. Vantage Corp listed on the NYSE American on 12 June 2025. For more information, visit https://www.vantageshipbrokers.com/. Forward-Looking StatementsRead the full story here

Vantage Corp Reports Financial Results for the First Half Fiscal 2026 Ended September 30, 2025

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