C3is Inc. (CISS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the C3IS Third Quarter 2025 Financial and Operating Results Conference Call. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Diamantis Andriotis. Please go ahead, sir. Good morning everyone and welcome to our C3IS third quarter of 2025 earnings conference call and webcast. This is Dr. Diamantis Andriotis, CEO of the company. Joining me on the call today is our CFO Nina Pindia. Before we commence our presentation, I would like to remind you that we will be discussing forward-looking statements, which reflect current views with respect to future events and financial performance, and are based on current expectations and assumptions, which by nature are inherently uncertain and outside of companies' control. At this stage, if you could all take a moment to read our disclaimer on slide 2 of this presentation. I would also like to point out that all amounts quoted, unless otherwise clarified, are implicitly stated in US dollars. We have today released our earnings results for the third quarter of 2025, so let's proceed to discuss these results and update you on the company's strategy and the market in general. Please turn to slide 3, where we summarize and highlight the company's performances, starting with our financial highlights. For the first nine months of 2025, we achieved a net income of 5.26 million, compared to a net loss of 3 million for the same period in 2024, an increase of 281%. Our voyage revenues decreased by 24% compared to the same period in 2024, due to the dry docking of our heart from Axtanker, resulting in a loss of revenue from our highest-earning vessel over a peri...