# SEA1 Q2 2026 Presentation

- Press release: SEA1: Results for the second quarter 2026 (2026-08-14)
- Original: https://storage.mfn.se/c/aHR0cHM6Ly9hcGkzLm9zbG8ub3Nsb2JvcnMubm8vdjEvbmV3c3JlYWRlci9hdHRhY2htZW50P21lc3NhZ2VJZD02Nzk3NzMmYXR0YWNobWVudElkPTMzMTEwNw/sea1-q2-2026-presentation.pdf?news-id=8a80c8a5-d149-5305-ad18-d1bef15ce9c5
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** Sea1 Offshore Inc. reported a strong Q2 2026 with increased revenue and EBITDA year-over-year, driven by high activity and a robust contract backlog, despite a slight dip in fleet utilization.

## Takeaways
- Revenue for Q2 2026 increased to $80.1 million, up from $71.3 million in Q2 2025.
- EBITDA grew to $41.5 million in Q2 2026, compared to $39.6 million in Q2 2025, achieving a 52% EBITDA margin.
- The company maintains a solid financial position with a book equity ratio of 53% and net interest-bearing debt of $259.6 million.
- Overall fleet utilization for the quarter was 83%, excluding vessels in lay-up, a decrease from 92% in Q2 2025.
- Firm contract backlog stands at $625 million as of June 30, 2026, with an additional $504 million in options.
- The company operates a fleet of 15 owned vessels and has 4 newbuilds on order, with the newbuilding program progressing as planned.

*Generated 2026-09-25 via google/gemini-2.5-flash*