Delixy Holdings (NASDAQ:DLXY) reported a contraction in top-line growth for the first six months of 2025, as the recently listed oil trader navigated a volatile energy market and narrowed its focus toward higher-margin operations.
The Singapore-based company, which trades crude oil and refined products across Southeast Asia and the Middle East, reported revenue of $102 million for the period ended June 30, down from $143.8 million in the prior year.
The 29% decline was mirrored in gross profit, which slipped to $1.1 million from $1.8 million.
Despite the cooling revenue, Delixy managed to grow its bottom line through aggressive overhead reductions.
General and administrative expenses were slashed by more than half, falling to $0.7 million.
This efficiency drive pushed net income to $0.6 million, up from $0.5 million a year earlier, with basic and diluted earnings per share (EPS) rising to $0.04.
The results cover a period of significant transition for the firm.
Delixy completed its initial public offering (IPO) and began trading on the Nasdaq Capital Market on July 9, 2025, raising approximately $5.4 million in net proceeds to fund the expansion of its product offerings and regional market position.