Top Ships Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	87.87	86.13	82.95	80.66	56.37	60.22
Revenue Growth (YoY)	4.77%	3.83%	2.84%	43.09%	-6.40%	-8.88%
Cost of Revenue	32.12	34.82	30.69	30.88	27.89	23.95
Gross Profit	55.75	51.3	52.26	49.78	28.48	36.27
Selling, General & Admin	10.06	9.77	8.9	3.71	4.54	7.56
Other Operating Expenses	0.29	0.29	0.28	0.24	0.31	0.18
Operating Expenses	23.89	23.4	23.53	17.24	12.52	20.91
Operating Income	31.86	27.9	28.73	32.54	15.96	15.36
Interest Expense	-19.16	-21.89	-19.33	-14.23	-6.98	-22.08
Interest & Investment Income	0.15	0.47	0.35	0.05	-	0.03
Earnings From Equity Investments	-0.59	0.16	-0.02	0.65	0.75	0.71
Other Non Operating Income (Expenses)	-1.6	-1.6	-3.66	-0.13	0.05	0.31
EBT Excluding Unusual Items	10.66	5.03	6.07	18.87	9.78	-5.66
Gain (Loss) on Sale of Assets	-	-	-	0.08	-	-12.36
Asset Writedown	-	-	-	-	-1.16	-
Other Unusual Items	-	-	-	-	-	-4.8
Pretax Income	10.66	5.03	6.07	18.95	8.62	-22.82
Earnings From Continuing Operations	10.66	5.03	6.07	18.95	8.62	-22.82
Net Income	10.66	5.03	6.07	18.95	8.62	-22.82
Preferred Dividends & Other Adjustments	-	-	28.44	28.14	3.22	5.96
Net Income to Common	10.66	5.03	-22.37	-9.19	5.4	-28.78
Net Income Growth	377.72%	-17.01%	-67.99%	119.92%	-	-
Shares Outstanding (Basic)	5	5	2	0	0	0
Shares Outstanding (Diluted)	5	5	2	0	0	0
Shares Change (YoY)	37.26%	157.19%	611.49%	52.33%	69.37%	-
EPS (Basic)	2.30	1.09	-12.44	-36.34	32.51	-293.71
EPS (Diluted)	2.30	1.09	-12.44	-36.34	32.51	-293.71
Free Cash Flow	3.35	-6.68	28.93	-183.3	-99.45	-114.82
Free Cash Flow Per Share	0.72	-1.44	16.09	-725.02	-599.23	-1171.74
Gross Margin	63.45%	59.57%	63.00%	61.72%	50.53%	60.23%
Operating Margin	36.26%	32.40%	34.63%	40.34%	28.32%	25.51%
Profit Margin	12.13%	5.85%	-26.97%	-11.39%	9.57%	-47.79%
Free Cash Flow Margin	3.82%	-7.75%	34.88%	-227.25%	-176.44%	-190.66%
EBITDA	45.4	41.24	43.08	45.83	23.65	28.57
EBITDA Margin	51.66%	47.88%	51.93%	56.83%	41.95%	47.44%
D&A For EBITDA	13.53	13.34	14.35	13.29	7.68	13.21
EBIT	31.86	27.9	28.73	32.54	15.96	15.36
EBIT Margin	36.26%	32.40%	34.63%	40.34%	28.32%	25.51%
Revenue as Reported	1.75	-	-	-	-	-

Updated Oct 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q