C3is Inc. (CISS) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.046 Good morning everyone and welcome to our C3IS first quarter of 2025 earnings conference 00:00:05.046 -- 00:00:09.779 call and webcast. This is Dr. Yamadis Andriotis, CEO of the company. 00:00:09.779 -- 00:00:12.991 Joining me on the call today is our CFO, Nina Pindia. 00:00:12.991 -- 00:00:16.636 Before we commence our presentation, I would like to remind you that we will be discussing 00:00:16.636 -- 00:00:20.761 forward-looking statements which reflect current views with respect to future events 00:00:20.761 -- 00:00:24.766 and financial performance, and are based on current expectations and assumptions, which 00:00:24.766 -- 00:00:29.493 by nature are inherently uncertain and outside of the company's control. 00:00:29.493 -- 00:00:32.897 At this stage, if you could all take a moment to read our disclaimer on slide 2 of this 00:00:32.897 -- 00:00:34.405 presentation. 00:00:34.405 -- 00:00:38.451 I would also like to point out that all amounts quoted, unless otherwise clarified, are 00:00:38.451 -- 00:00:43.578 implicitly stated in US dollars. Today we released our earnings results for the first 00:00:43.578 -- 00:00:48.525 quarter of 2025, so let's proceed to discuss these results and update you on the company's 00:00:48.525 -- 00:00:51.569 strategy and the market in general. 00:00:51.569 -- 00:00:56.035 Please turn to slide 3, where we summarize and highlight the company's performances, 00:00:56.035 -- 00:01:01.038 starting with our financial highlights. For the first quarter of 2025, we achieved 00:01:01.038 -- 00:01:06.743 an end income of 8 million, which is an increase of 109% from Q1 2024. 00:01:08.288 -- 00:01:13.675 We reported net revenues of 5.8 million, which is a decrease of 41% compared 00:01:13.675 -- 00:01:16.118 t...