Logo

CISS

C3is Inc.

CISS

C3is Inc. • NASDAQ
$1.77 ▲ 4.73% (+0.08)
Market Cap $1.39 M
52w High $12.07
52w Low $1.46
Dividend Yield 0%
P/E -0.19
Volume 36.09K
Outstanding Shares 782.59K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.794M ▼ $797.647K ▼ $2.671M ▲ 55.726% ▲ $2.32 ▲ $4.299M ▲
Q2-2025 $10.737M ▲ $837.472K ▲ $-5.328M ▼ -49.625% ▼ $-8.78 ▼ $-3.663M ▼
Q1-2025 $8.671M ▼ $811.014K ▲ $7.917M ▲ 91.306% ▲ $14.89 ▲ $9.873M ▲
Q4-2024 $9.411M ▲ $632.524K ▲ $147.402K ▼ 1.566% ▼ $9.42 ▼ $2.103M ▼
Q3-2024 $9.266M $558.055K $5.075M 54.767% $10.35 $7.143M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.614M ▲ $90.241M ▲ $11.271M ▼ $78.97M ▲
Q2-2025 $2.276M ▼ $90.104M ▼ $15.512M ▼ $74.592M ▼
Q1-2025 $15.692M ▲ $103.596M ▲ $24.392M ▼ $79.204M ▲
Q4-2024 $12.589M ▲ $100.489M ▲ $29.128M ▲ $71.361M ▲
Q3-2024 $8.016M $99.401M $28.129M $71.272M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.622M ▲ $2.484M ▲ $-3.6M ▼ $1.854M ▲ $738.2K ▲ $2.484M ▲
Q2-2025 $-4.999M ▼ $-346.508K ▼ $-1.762M ▼ $-12.908M ▼ $-15.016M ▼ $-508.41K ▼
Q1-2025 $7.575M ▲ $3.294M ▼ $7.949M ▲ $-191.667K $11.052M ▲ $3.294M ▼
Q4-2024 $147.402K ▼ $4.764M ▲ $-7.949M ▼ $-191.667K ▲ $-3.376M ▲ $4.764M ▲
Q3-2024 $5.075M $-1.181M $13.2M $-36.32M $-24.301M $-1.181M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been inching higher over the last few years, but it is still very small in absolute terms, which makes the business sensitive to swings in shipping rates and vessel availability. Profitability at the operating level looks modestly positive, suggesting the core operations can cover day‑to‑day costs when market conditions are reasonable. Net income, and especially earnings per share, look extremely volatile, largely because of reverse stock splits and the small size of the business rather than big underlying changes in economics. Overall, it looks like a company hovering around break-even to modest profitability, with reported per‑share figures that can be misleading if taken at face value.

Balance Sheet

Balance Sheet The balance sheet is light but relatively clean. Total assets have grown gradually, reflecting investment in the fleet, while shareholders’ equity has also trended up, which points to a somewhat stronger capital base over time. Debt is very low to essentially absent in recent years, which aligns with management’s stated preference for a conservative, low‑leverage structure. Cash on hand, however, is not large, so the company appears to rely on a mix of operating cash flow and equity capital to fund growth rather than on borrowing from banks.

Cash Flow

Cash Flow Operating cash flow has improved from roughly break-even levels to clearly positive territory, indicating the vessels are generating enough cash to support operations and at least some reinvestment. A few years ago, the company spent relatively heavily on capital expenditures, which pushed free cash flow into negative territory, but spending has recently eased, and free cash flow has turned positive. This shift suggests a move from a more investment‑heavy phase toward a period where the existing fleet can start to fund itself. That said, cash generation remains exposed to the ups and downs of freight rates and utilization, which can change quickly in shipping.

Competitive Edge

Competitive Edge C3is competes in traditional dry bulk and tanker shipping, where services are broadly similar and pricing is driven by global supply and demand for vessels. Its key differentiators seem to be a deliberately low‑debt balance sheet, a focus on specific vessel sizes (Handysize and Aframax), and the support and industry know‑how of the Vafias Group. Compliance-focused investments like ballast water treatment systems and reliable technical management make the fleet more attractive to charterers who value regulatory and operational reliability. On the other hand, the company’s small scale and limited fleet size constrain its bargaining power and leave it more exposed to the volatility of individual charter contracts and market swings.

Innovation and R&D

Innovation and R&D This is not a research‑heavy, technology‑driven business. Innovation is mainly about staying ahead on regulation, safety, and efficiency rather than inventing new products. The company has invested in ballast water treatment systems to meet environmental rules and appears to lean on experienced external managers for technical and commercial optimization. Future innovation, if it comes, is likely to revolve around acquiring more modern, fuel‑efficient ships and selectively adopting digital tools for routing, maintenance, and fuel management. Formal R&D spending is likely modest, with the emphasis instead on practical operational upgrades and fleet renewal decisions.

Summary

C3is is a very small, relatively young listed shipping company with a conservative balance sheet and a growing but still modest revenue base. Its main strengths are low financial leverage, improving operating and free cash flow, and access to experienced industry management. Its strategy emphasizes financial prudence, regulatory compliance, and flexible chartering, rather than aggressive, debt‑fuelled growth. Key risks include its tiny scale, exposure to highly cyclical freight markets, thin cash buffers, and very volatile reported earnings per share driven by share structure changes. The company appears to be transitioning from an investment phase into a period where its existing fleet can better support itself, but its performance will remain closely tied to the broader shipping cycle and its ability to secure profitable charters.

NEWS

November 18, 2025 · 9:00 AM UTC

C3is Inc. reports third quarter and nine months 2025 financial and operating results

Read more

November 13, 2025 · 9:10 AM UTC

C3is Inc. announces the date for the release of the third quarter and nine months 2025 financial and operating results

Read more

October 9, 2025 · 11:00 AM UTC

C3is Inc. Announces Closing of $2 Million Registered Direct Offering

Read more

October 8, 2025 · 8:00 AM UTC

C3is Inc. Announces Pricing of $2 Million Registered Direct Offering

Read more

September 2, 2025 · 9:07 AM UTC

C3is Inc. reports second quarter and six months 2025 financial and operating results

Read more