DORIAN LPG LTD. Revenue Disclosure
15. Revenues
Revenues comprise the following:
| Year ended | ||||||||
March 31, 2025 | March 31, 2024 | March 31, 2023 | |||||||
Net pool revenues—related party | $ | 341,418,480 | $ | 532,935,157 | $ | 364,548,262 | |||
Time charter revenues | 8,252,182 | 25,895,984 | 22,709,620 | ||||||
Other revenues, net | 3,670,814 | 1,886,295 | 2,491,333 | ||||||
Total revenues | $ | 353,341,476 | $ | 560,717,436 |
| $ | 389,749,215 | ||
Net pool revenues—related party depend upon the net results of the Helios Pool, and the available days and pool points for each vessel. Refer to Notes 2 and 4 above for further information.
Other revenues, net mainly represent income from charterers relating to reimbursement of voyage expenses such as costs for security guards and war risk insurance.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | May 29, 2025 | Showing above |
| 2020 | Jun 12, 2020 | |
| 2019 | May 30, 2019 | |
| 2018 | Jun 28, 2018 | |
| 2017 | Jun 14, 2017 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.