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C3is Inc. (CISS)
NASDAQ:CISS
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C3is Inc.
(NASDAQ:CISS)
Rating:73Outperform
Price Target:―
C3is Inc. (CISS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.48M
Dividend YieldN/A
Average Volume (3M)47.37K
Price to Earnings (P/E)<0.1
Beta (1Y)1.14
Revenue Growth47.17%
EPS Growth-97.95%
CountryUS
EmployeesN/A
SectorIndustrials
Sector Strength88
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.29
Shares Outstanding780,768
10 Day Avg. Volume24,832
30 Day Avg. Volume47,373
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap31.21
Enterprise Value/Revenue2.02
Enterprise Value/Gross Profit8.68
Enterprise Value/Ebitda7.84
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
C3is Inc. Business Overview & Revenue Model
Company DescriptionC3is Inc. provides international seaborne transportation services. It provides its services to dry bulk charterers, including national and private industrial users, commodity producers, and traders. The company owns and operates a fleet of two handysize drybulk carriers which transport major bulks, such as iron ore, coal and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers. C3is Inc. was incorporated in 2022 and is headquartered in Majuro, Marshall Islands.
How the Company Makes MoneyC3is Inc. generates revenue through a combination of subscription-based models, service contracts, and consulting fees. The core revenue streams include selling software licenses for their proprietary cybersecurity solutions and offering managed security services to clients. Additionally, the company capitalizes on strategic partnerships with technology firms and enterprise clients, which not only enhances their service offerings but also expands their customer base. Professional consulting services and custom security solution deployments also contribute to their earnings, allowing them to cater to specialized client needs and complex security environments.
C3is Inc. Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q4-2024)
| % Change Since: -15.24%|
Next Earnings Date:Aug 29, 2025
Earnings Call Sentiment Neutral
The earnings call presented robust revenue growth and fleet expansion without incurring bank debt, indicating solid financial management. However, challenges such as decreased daily time charter rates, increased expenses, and a net income decrease balanced the positive aspects.Q4-2024 Updates
Positive Updates
Significant Revenue Growth
Revenues for 2024 increased by 47% to $42.3 million compared to 2023, with net revenues growing by 33%.
Fleet Expansion
Added the Eco Spitfire Handysize drybulk carrier, increasing fleet capacity by 234% since company's inception, without incurring bank debt.
Strong Cash Balance
Cash balance at the end of Q4 2024 was $12.6 million, a 39% increase from year-end 2023, despite significant CapEx payments.
Positive Adjusted EBITDA
Adjusted EBITDA increased by 11% to $16.4 million from 2023.
No Bank Debt
The company maintained no bank debt while expanding its fleet.
Negative Updates
Decrease in Daily Time Charter Equivalent
Daily time charter equivalent for 2024 was $21,000 per day, a 10% decrease from the previous year.
Net Income Decrease
Adjusted net income decreased by 7% from 2023, and a non-cash item led to a net loss of $2.7 million for 2024.
Increased Voyage and Operating Expenses
Voyage expenses were $14.1 million, and operating expenses were $8.4 million due to higher bunker and port costs.
Depreciation Increase
Depreciation increased by 51%, attributed to the increase in the average number of vessels.
Company Guidance
During the C3is Fourth Quarter Earnings Conference Call, the company provided guidance highlighting several key metrics. For the fiscal year 2024, C3is reported revenues of $42.3 million, marking a 47% increase from 2023. The Aframax tanker, Afrapearl II, was a major contributor, accounting for 76% of total revenues. The company's net revenues were $28 million, up by 33% compared to the previous year, while the adjusted EBITDA rose by 11% to $16.4 million. Despite a 10% decrease in Time Charter Equivalent (TCE) rates to $21,000 per day, the company maintained a strong financial position with a cash balance of $12.6 million by year-end, a 39% increase from 2023. Capital expenditures amounted to $41 million, including $39.5 million for Afrapearl II and a 10% down payment of $1.62 million on the Eco Spitfire bulk carrier. The company operates a fleet of four vessels with a total capacity of 213,000 deadweight tons, reflecting a growth of 234% since its inception. Despite geopolitical challenges and market fluctuations, C3is remains optimistic about future growth and profitability, particularly with potential favorable U.S. policies under the Trump administration.C3is Inc. Financial Statement Overview
Summary
C3is Inc. shows impressive revenue growth and solid balance sheet strength, although recent profitability challenges are notable. Despite a negative net income margin in the TTM, the company maintains strong operational efficiency and cash flow resilience.Income Statement
C3is Inc. demonstrates strong revenue growth, with a significant increase from previous years, particularly evident in the TTM (Trailing-Twelve-Months) data. Gross profit margin remains healthy, although the net profit margin has turned negative in the TTM period due to recent expenses, indicating potential profitability issues. EBIT and EBITDA margins show solid operational efficiency, despite the recent net income loss.75
Positive
Balance Sheet
The company maintains a robust balance sheet with a high equity ratio, indicating financial stability. The debt-to-equity ratio is minimal, reflecting low financial leverage, which is a strength in managing risks. Return on equity has been strong but dipped recently, aligning with the net income loss in the TTM period.80
Positive
Cash Flow
Cash flow analysis reveals a substantial increase in operating cash flow, demonstrating strong cash generation capacity. Free cash flow has also improved, indicating better financial flexibility. However, the free cash flow to net income ratio suggests potential inefficiencies in converting income to cash, especially given the negative net income in the TTM period.70
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 42.30M | 27.26M | 16.13M | 6.27M |
| Gross Profit | 13.62M | 10.54M | 8.24M | 3.78M |
| EBITDA | 5.90M | 14.76M | 6.03M | 4.10M |
| Net Income | -2.75M | 9.29M | 5.83M | 3.61M |
Balance Sheet | ||||
| Total Assets | 100.49M | 95.47M | 44.86M | 16.36M |
| Cash, Cash Equivalents and Short-Term Investments | 12.59M | 9.06M | 5.00M | 18.99K |
| Total Debt | 28.77K | 0.00 | 0.00 | 7.28M |
| Total Liabilities | 29.13M | 39.93M | 965.47K | 7.61M |
| Stockholders Equity | 71.36M | 55.54M | 43.89M | 8.75M |
Cash Flow | ||||
| Free Cash Flow | 23.35M | 1.34M | -38.34M | -11.65M |
| Operating Cash Flow | 24.98M | 5.64M | 1.05M | -12.08K |
| Investing Cash Flow | -1.36M | -12.43M | -39.39M | -11.64M |
| Financing Cash Flow | -19.67M | 7.48M | 38.34M | 12.42M |
C3is Inc. Technical Analysis
Negative
3.17
Price Trends
3.50
Negative
3.68
Negative
7.23
Negative
Market Momentum
-0.07
Positive
35.95
Neutral
7.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CISS, the sentiment is Negative. The current price of 3.17 is below the 20-day moving average (MA) of 3.40, below the 50-day MA of 3.50, and below the 200-day MA of 7.23, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 35.95 is Neutral, neither overbought nor oversold. The STOCH value of 7.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CISS.
C3is Inc. Risk Analysis
C3is Inc. disclosed 86 risk factors in its most recent earnings report. C3is Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
C3is Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (71)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.48M | 0.08 | 1.43% | ― | 47.17% | -97.95% | |
71 Outperform | ¥174.40B | 11.31 | 5.60% | 2.68% | 5.43% | -31.35% | |
69 Neutral | $20.92M | 2.39 | 3.07% | ― | -32.07% | -9.50% | |
67 Neutral | $20.89M | 0.85 | 21.39% | ― | -7.48% | 3.08% | |
48 Neutral | $14.41M | ― | -10.92% | 10.86% | -2.85% | -280.26% | |
46 Neutral | $16.76M | ― | -20.19% | ― | 35.58% | -64.92% | |
42 Neutral | $21.41M | 61.24 | -0.43% | ― | 17.92% | -131.47% |
* Industrials Sector Average
Performance Comparison
CISS
C3is Inc.
3.17
-15.73
-83.23%
PSHG
Performance Shipping
1.68
-0.22
-11.58%
GLBS
Globus Maritime
1.04
-0.56
-35.00%
CTRM
Castor Maritime
2.16
-2.44
-53.04%
OP
OceanPal Inc
0.12
-1.32
-91.67%
USEA
United Maritime Corp.
1.56
-0.65
-29.41%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.