Vantage Drilling International reported a net income attributable to shareholders of approximately $8.1 million or $0.60 per diluted share for the three months ended December 31, 2025, based on the weighted average shares outstanding, as compared to a net income attributable to shareholders of approximately $55.5 million or $4.17 per diluted share for the three months ended December 31, 2024.
For the year ended December 31, 2025, Vantage reported net income attributable to shareholders of approximately $40.3 million or $2.99 per diluted share for the year ended December 31, 2025, based on weighted average shares outstanding, as compared to a net loss attributable to shareholders of approximately $27.8 million or $2.09 per diluted share for the year ended December 31, 2024.
As of December 31, 2025, Vantage had approximately $97.0 million in cash, including $4.0 million in restricted cash and $10.8 million pre-funded by our Managed Services customers for near-term obligations. In comparison, as of December 31, 2024, Vantage had $89.6 million in cash, including $6.2 million in restricted cash and $28.3 million pre-funded by our Managed Services customers for near-term obligations.
Ihab Toma, CEO, commented: 'We are pleased to report a strong quarter for the Company, highlighted by the payment of a cash dividend in the amount $67.8 million to shareholders in the fourth quarter following our successful transition to an asset-light, debt-free structure. In addition, we recently received a notification of award for the Platinum Explorer, which includes a three-year firm term valued at approximately $261 million with a one-year option. Securing this opportunity provides a strategic long-term contract for the drillship in close proximity to its current location, significantly reducing execution risk. Just as importantly, we are returning to a customer and region where we have deep operational experience, a strong understanding of the local cost structure, and established access to high-quality local resources.'
Vantage, a Bermuda exempted company, is an offshore drilling contractor. Vantage's primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and independent oil and gas companies. Vantage also markets, operates and provides management services in respect of third party-owned drilling units.
Source: Vantage Drilling
