$DLNG-PA

Dynagas LNG Partners LP

CIK:0001578453|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
REVENUES:
Voyage revenues	$ 156,624	$ 156,403	$ 148,878
Revenues from contracts with customers			11,602
EXPENSES:
Voyage expenses	(5,384)	(4,465)	(1,478)
Voyage expenses-related party	(1,935)	(1,983)	(1,860)
Vessel operating expenses	(33,290)	(31,643)	(34,412)
Dry-docking and special survey costs			(17,650)
General and administrative expenses	(1,122)	(1,440)	(1,331)
General and administrative expenses- related party	(723)	(703)	(701)
Management fees-related party	(6,778)	(6,599)	(6,389)
Depreciation	(32,064)	(32,151)	(31,946)
Operating income	75,328	77,419	64,713
OTHER INCOME/(EXPENSES):
Interest and finance costs	(21,350)	(31,176)	(39,210)
Interest income	1,306	2,547	2,593
Gain on derivative financial instrument		1,755	5,267
Loss on Debt extinguishment		(331)	(154)
Other Income	6,764	1,492	2,881
Other, net	(403)	(115)	(218)
Total other expenses, net	(13,683)	(25,828)	(28,841)
Partnership's Net Income	61,645	51,591	35,872
Common unitholders' interest in Net Income	50,407	38,575	24,285
Deemed dividend on Series B Preferred Units	1,503
General Partner's interest in Net Income	$ 49	$ 38	$ 24
Earnings per unit, basic and diluted:
Common unit, basic (In dollars per share)	$ 1.38	$ 1.05	$ 0.66
Common unit, diluted (In dollars per share)	$ 1.38	$ 1.05	$ 0.66
Weighted average number of units outstanding, basic and diluted:
Common units, basic (In shares)	36,557,558	36,799,490	36,802,247
Common units, diluted (In shares)	36,557,558	36,799,490	36,802,247
Series A Preferred unitholders
OTHER INCOME/(EXPENSES):
Preferred unitholders' interest in Net Income	$ 6,750	$ 6,750	$ 6,750
Series B Preferred unitholders
OTHER INCOME/(EXPENSES):
Preferred unitholders' interest in Net Income	$ 2,936	$ 6,228	$ 4,813

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from Operating Activities:
Net income:	$ 61,645	$ 51,591	$ 35,872
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	32,064	32,151	31,946
Amortization and write-off of deferred financing fees	523	1,022	1,667
Deferred revenue amortization	2,037	5,316	(8,343)
Amortization of deferred charges	216	217	216
Dry-docking and special survey costs			17,650
Gain on derivative financial instruments		(1,755)	(5,267)
Loss on Debt extinguishment		331	154
Changes in operating assets and liabilities:
Trade accounts receivable	723	(492)	(642)
Prepayments and other assets	(149)	4,181	(6,040)
Inventories	(309)	(143)	134
Due from/to related parties	(1,385)	(2,045)	83
Deferred expenses	3
Trade accounts payable	(864)	(636)	(5,276)
Accrued liabilities	(825)	2,321	(5,928)
Unearned revenue	(3,414)	99	8,165
Net cash provided by Operating Activities	90,265	92,158	64,391
Cash flows from Investing Activities:
Ballast water treatment system installation		(27)	(4,238)
Net cash used in Investing Activities		(27)	(4,238)
Cash flows from Financing Activities:
Repurchase of common units, purchase costs	(7)
Repurchase of common units	(1,315)	(247)
Distributions declared and paid	(16,893)	(14,781)	(11,563)
Proceeds from other financial liabilities		344,975
Repayment of long-term debt and other financial liabilities	(44,167)	(442,726)	(79,270)
Redemption of Series B Preferred Units	(55,000)
Receipt of derivative instruments		17,521	24,564
Payment of deferred finance fees		(2,469)
Net cash used in Financing Activities	(117,382)	(97,727)	(66,269)
Net decrease in cash and cash equivalents	(27,117)	(5,596)	(6,116)
Cash and cash equivalents at beginning of the year	68,156	73,752	79,868
Cash and cash equivalents at end of the year	41,039	68,156	73,752
RECONCILIATION OF CASH, AND CASH EQUIVALENTS
Cash and cash equivalents	41,039	68,156	73,752
Cash paid during the year for:
Interest	$ 20,891	$ 30,242	$ 37,303

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 41,039	$ 68,156
Trade accounts receivable	478	1,201
Prepayments and other assets	4,726	3,802
Inventories	1,203	894
Accrued charter revenue, current portion		2,704
Deferred Charges, current portion	107	216
Due from related party, current	$ 1,875	$ 1,189
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Total current assets	$ 49,428	$ 78,162
FIXED ASSETS, NET:
Vessels, net	733,148	765,212
Total fixed assets, net	733,148	765,212
OTHER NON-CURRENT ASSETS:
Due from related party	$ 1,350	$ 1,350
Other Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Deferred charges	$ 529	$ 640
Other receivables, non- current	1,789	1,789
Total assets	786,244	847,153
CURRENT LIABILITIES:
Current portion of other financial liabilities, net of unamortized deferred financing fees of $457 and $523, respectively	43,710	43,644
Trade payables	12,317	13,181
Due to related party		699
Accrued liabilities	5,536	5,587
Deferred Revenue - Current	664	667
Unearned revenue	16,705	20,118
Total current liabilities	78,932	83,896
NON-CURRENT LIABILITIES:
Deferred revenue	719	1,383
Other financial liabilities, net of current portion and unamortized deferred financing fees of $1,194 and $1,651, respectively	233,363	277,073
Total non-current liabilities	234,082	278,456
Commitments and contingencies
PARTNERS' EQUITY:
Common unitholders (unlimited authorized; 36,382,011 units and 36,747,129 units issued and outstanding as at December 31, 2025 and December 31, 2024, respectively)	399,834	357,949
General Partner (35,526 units issued and outstanding as at December 31, 2025 and December 31, 2024)	180	138
Total partners' equity	473,230	484,801
Total liabilities and partners' equity	786,244	847,153
Series A Preferred unitholders
PARTNERS' EQUITY:
Preferred Unitholders	$ 73,216	73,216
Series B Preferred unitholders
PARTNERS' EQUITY:
Preferred Unitholders		$ 53,498