C3is Inc. (CISS) Form 424B3 — Aug 27, 2026
C3is Inc. (Nasdaq: CISS) reported Q2 2026 revenues of $24.0 million, up $13.3 million from $10.7 million a year earlier, with daily TCE up 144.5% to $40,260. The company swung to net income of $10.0 million (basic EPS of $353.87) from a $5.3 million loss in Q2 2025, and adjusted EBITDA rose 321.4% to $11.8 million. The balance sheet strengthened sharply, with cash, equivalents and time deposits up 122.8% to $33.2 million and a debt-free six-vessel fleet, while the Aframax tanker is currently fetching around $100,000 per day in the spot market.
Key figures
- Eps
- 353.87
- Revenue
- 24044464
- Guidance
- CEO expects second half 2026 to mirror the strong first-half performance, with fleet expansion projected to further boost profitability
- Net Income
- 9983543
- Revenue Yoy
- +$13.3 million vs Q2 2025 ($24.0 million vs $10.7 million)
- Total Assets
- 144760888
- Cash Position
- $33.2 million cash, equivalents and time deposits at June 30, 2026 (+122.8% vs year-end 2025)
- Shares Outstanding
- 1487970
- Owned vessels
- 6
- Six month revenue
- 35620403
- Tce growth q2 pct
- 144.5
- Adjusted ebitda 6m
- 18739265
- Adjusted ebitda q2
- 11839332
- Fleet capacity dwt
- 311431
- Six month eps basic
- 483.39
- Six month net income
- 13183829
- Atm gross proceeds 6m
- $2.6 million on 15,113 shares
- Adjusted net income 6m
- 15276302
- Adjusted net income q2
- 9792352
- Vessel acquisition cost
- $39.8 million for two product tankers, payable by January 2027
- Reverse splits since 2024
- 6
- Adjusted ebitda q2 yoy pct
- 321.4
- Tce rate q2 2025 usd per day
- 16466
- Tce rate q2 2026 usd per day
- 40260
- Aframax spot rate usd per day
- 100000
- Down round deemed dividend 6m
- 5118000
- Adjusted net income q2 yoy pct
- 790.9
- Clean fury related party payable
- $22.1 million payable by January 2027
- July 2026 offering gross proceeds
- $6.0 million (units of 1 share + 1 Class F Warrant, all exercised)
- Potential dilutive shares warrants
- 4504106
- Fleet operational utilization q2 pct
- 78.6
- Product tanker spot rate usd per day
- 30000
- Potential dilutive shares preferred conversion
- 6136475
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