High Trend International Group (NASDAQ:HTCO) saw its stock climb 6.6% during after-hours trading on Friday following its fiscal year 2025 financial disclosure. The ocean technology and shipping company almost doubled its revenue compared to the prior fiscal year, signaling a period of robust business growth.
For the fiscal year ending October 31, 2025, the company recorded total revenues amounting to $214.4 million, up 98% from the $108.2 million reported in fiscal 2024. The largest component of this revenue, ocean freight, rose by 103% year-over-year to $214.0 million, underscoring the company's reliance on shipping operations.
This marked increase primarily originated from the expansion of High Trend's coal transportation activities along strategic trade routes including Australia to Asia and Indonesia to Southeast Asia. The company's journey count, measured by total voyage days, more than doubled, rising from 3,496 days in fiscal 2024 to 7,470 days in fiscal 2025 as a result of increased fleet utilization and growing demand among customers.
Although High Trend boosted its top-line considerably, it recorded a net loss of $20.1 million for the fiscal year, a slight improvement over the $21.2 million loss from the previous year. The company attributed these losses largely to substantial non-cash charges: share-based compensation expenses escalated to $21.9 million from $1.2 million recorded in fiscal 2024.
Despite the net loss, High Trend's operational cash flow showed a positive shift, moving to $4.6 million compared to a negative $3.3 million in the prior year. Concurrently, liquidity improved with cash and cash equivalents rising from $6.9 million to $10.1 million by October 31, 2025.
Chairman Christopher Nixon Cox highlighted the company's successful expansion, emphasizing the near doubling of revenue and strengthened financial position, including growth in book value per share.