C3is Q2 Revenue Jumps 124% to $24M, Net Income Swings to $10M Profit
CISS sits 47% above its 52-week low of $2.236.
Summary
C3is reported Q2 2026 revenue of $24.0 million, up 124% from $10.7 million a year earlier, driven by a 144.5% increase in daily TCE to $40,260. Net income swung to a $10.0 million profit from a $5.3 million loss, with adjusted EBITDA up 321% to $11.8 million. Cash and time deposits reached $33.2 million, up 122.8% from year-end 2025. The company took delivery of its second product tanker on August 6, 2026, expanding its fleet to six vessels. This follows the July $6 million unit offering and the 1-for-40 reverse split completed August 19, 2026. The strong results and debt-free fleet position the company for continued growth, though the recent reverse split and warrant overhang remain key considerations.
At the time of this announcement, CISS was trading at $3.28 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $4.2M. The 52-week trading range was $2.24 to $33,263.44. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.