Rubico FY 2025 net income fell 56% to USD 3 million

Reuters03-23 18:04

Rubico FY 2025 net income fell 56% to USD 3 million

Rubico published an annual report (Form 20-F) reporting revenue of USD 23.5 million, down 3%.
Net income was USD 2.6 million, down 56%, while operating income was USD 12.4 million.
Interest and finance costs were USD 8.3 million, up 27%, primarily driven by a November 2025 refinancing that increased outstanding debt and triggered accelerated finance charges and prepayment fees, partly offset by lower average SOFR and lower average debt.
Loss on derivative financial instruments was USD 1.6 million, reflecting initial measurement losses on warrants from the November offering net of gains on subsequent remeasurements.
Adjusted EBITDA was USD 16.6 million, while management said 2026 operating cash flow is expected to decrease due to fleetwide drydocking and lower daily charter rates effective January 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rubico Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001140361-26-010621), on March 23, 2026, and is solely responsible for the information contained therein.

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