C3is Inc. (CISS) has released an update.
C3is Inc. reports a significant increase in voyage revenues to $13.8 million for Q4 2023, up from $3.1 million in the previous year, largely due to an expanded fleet. The company also saw a substantial year-over-year rise in annual voyage revenues, reaching $28.7 million for 2023, compared to $3.3 million from the previous year’s inception to year-end. This financial growth resulted in a net income of $5.6 million for Q4 and $9.3 million for the full year, with EBITDA standing at $7.7 million and $14.7 million respectively.
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