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C3is Inc. (CISS)
NASDAQ:CISS
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C3is Inc.
(NASDAQ:CISS)
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Select Model
Rating:73Outperform
Price Target:―
C3is Inc. benefits from strong revenue growth, a robust balance sheet, and attractive valuation metrics. However, recent profitability challenges and bearish technical indicators present risks. The earnings call further highlights both growth opportunities and potential operational challenges.
Positive Factors
Revenue Growth
The significant revenue growth indicates strong market demand and effective business strategies, enhancing long-term financial stability and competitive positioning.
Fleet Expansion
Fleet expansion without incurring bank debt demonstrates strategic growth and operational resilience, positioning the company well for future market opportunities.
Strong Cash Balance
A strong cash balance enhances financial flexibility, allowing for strategic investments and cushioning against market volatility, supporting long-term growth.
Negative Factors
Net Income Decrease
A decrease in net income indicates challenges in profitability, which could impact reinvestment capabilities and shareholder returns if not addressed.
Increased Operating Expenses
Rising operating expenses can erode profit margins, necessitating cost management strategies to maintain financial health and competitive pricing.
Decrease in TCE Rates
A decrease in TCE rates suggests potential revenue pressure, impacting profitability and necessitating strategic adjustments to sustain growth.
C3is Inc. (CISS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.98M
Dividend YieldN/A
Average Volume (3M)3.71M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth-27.96%
EPS Growth-98.99%
CountryUS
EmployeesN/A
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.41
Shares Outstanding2,579,879
10 Day Avg. Volume9,943,106
30 Day Avg. Volume3,711,906
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.04
Price to Sales (P/S)0.07
P/FCF Ratio0.12
Enterprise Value/Market Cap0.16
Enterprise Value/Revenue0.02
Enterprise Value/Gross Profit0.28
Enterprise Value/Ebitda0.06
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 Money
C3is Inc. Key Performance Indicators (KPIs)
Any
Average Number Of Vessels
Indicates the average size of the fleet over a period, highlighting the company's capacity to generate revenue and its market presence in the shipping industry.
Indicates the average size of the fleet over a period, highlighting the company's capacity to generate revenue and its market presence in the shipping industry.
Data provided by:
The Fly
The FlyC3is Inc. Earnings Call Summary
Earnings Call Date:Nov 18, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 31, 2026
Earnings Call Sentiment Neutral
The earnings report highlights significant improvements in net income and EBITDA, alongside achieving a debt-free status, indicating strong financial health. However, challenges include a notable decline in voyage revenues and TCE rates, as well as a reduction in cash balance due to strategic financial settlements. The company's adaptability and resilience amidst market uncertainties are evident, yet revenue-generating metrics have faced setbacks.Q3-2025 Updates
Positive Updates
Significant Increase in Net Income
The company achieved a net income of $5.26 million for the first 9 months of 2025 compared to a net loss of $3 million for the same period in 2024, marking an increase of 281%.
EBITDA Growth
Reported an EBITDA of $10 million for the first 9 months of 2025, compared to $3 million for the same period in 2024, an increase of 245%.
Debt-Free Financial Status
The company is fully delevered, having settled the final outstanding balance of $14.6 million for the Eco Spitfire, enhancing financial flexibility.
Successful Dry Docking
Successfully completed the dry docking of the Aframax tanker in August 2025, maintaining vessel quality and operational efficiency.
Negative Updates
Decline in Voyage Revenues
Voyage revenues decreased by 24% compared to the same period in 2024, primarily due to the drydocking of the Aframax tanker, which resulted in 74 non-revenue days.
Decrease in Time Charter Equivalent Rates
The time charter equivalent rates decreased by 40% compared to the same period in 2024, impacting overall revenue.
Reduction in Cash Balance
Cash balance decreased by 48% from $12.6 million at the end of 2024 to $6.6 million, largely due to the full settlement of the Eco Spitfire purchase.
Company Guidance
During the C3is Third Quarter 2025 Financial and Operating Results Conference Call, the company reported significant financial improvements, achieving a net income of $5.26 million for the first nine months of 2025, compared to a net loss of $3 million in the same period in 2024, marking a 281% increase. Despite a 24% decrease in voyage revenues due to the drydocking of their Aframax tanker, which resulted in 74 non-revenue days, the company successfully increased its EBITDA by 245% to $10 million. The time charter equivalent (TCE) rate saw a 40% decline. In April 2025, C3is settled the final outstanding balance of $14.6 million on their latest addition, the Eco Spitfire. The company also highlighted its strategic focus on maintaining a high-quality fleet, with an increase in fleet size by 234% since inception, while remaining debt-free. Looking ahead, C3is aims to continue its disciplined growth strategy amidst the geopolitical uncertainties affecting the shipping market.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 33.61M | 42.30M | 28.74M | 3.29M | 6.27M |
| Gross Profit | 2.96M | 13.62M | 12.02M | 750.83K | 3.78M |
| EBITDA | 12.61M | 5.90M | 14.76M | 1.11M | 4.10M |
| Net Income | 5.41M | -2.75M | 9.29M | 551.59K | 3.61M |
Balance Sheet | |||||
| Total Assets | 90.24M | 100.49M | 95.47M | 44.86M | 16.36M |
| Cash, Cash Equivalents and Short-Term Investments | 6.61M | 12.59M | 9.06M | 5.00M | 18.99K |
| Total Debt | 41.76K | 28.77K | 0.00 | 0.00 | 7.28M |
| Total Liabilities | 11.27M | 29.13M | 39.93M | 965.47K | 7.61M |
| Stockholders Equity | 78.97M | 71.36M | 55.54M | 43.89M | 8.75M |
Cash Flow | |||||
| Free Cash Flow | 10.03M | 23.35M | 1.34M | -38.34M | -11.65M |
| Operating Cash Flow | 10.20M | 24.98M | 5.64M | 1.05M | -12.08K |
| Investing Cash Flow | -5.36M | -1.36M | -12.43M | -39.39M | -11.64M |
| Financing Cash Flow | -11.44M | -19.67M | 7.48M | 38.34M | 12.42M |
C3is Inc. Technical Analysis
Neutral
1.86
Price Trends
2.04
Negative
2.49
Negative
3.17
Negative
Market Momentum
-0.07
Negative
50.65
Neutral
80.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CISS, the sentiment is Neutral. The current price of 1.86 is above the 20-day moving average (MA) of 1.75, below the 50-day MA of 2.04, and below the 200-day MA of 3.17, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 50.65 is Neutral, neither overbought nor oversold. The STOCH value of 80.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $25.24M | 1.02 | 17.90% | ― | -11.07% | -13.39% | |
73 Outperform | $4.98M | -0.60 | 7.12% | ― | -27.96% | -98.99% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $16.88M | ― | -7.09% | 6.77% | -8.96% | -88.67% | |
50 Neutral | $23.67M | -4.01 | -2.63% | ― | 18.49% | -264.74% | |
46 Neutral | $19.03M | ― | -5.54% | ― | -1.35% | -118.25% | |
46 Neutral | ― | ― | ― | ― | 35.58% | -119.92% |
* Industrials Sector Average
CISS
C3is Inc.
1.86
-9.24
-83.24%
PSHG
Performance Shipping
2.46
0.74
43.02%
GLBS
Globus Maritime
1.80
0.44
32.35%
CTRM
Castor Maritime
2.20
-1.24
-36.05%
OP
OceanPal Inc
1.36
-33.69
-96.12%
USEA
United Maritime Corp.
1.84
0.09
5.14%
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.