Castor Maritime (CTRM) investor relations material

Executive summary

• Reported net income of $17.6 million for Q4 2025, reversing a $32.7 million loss in Q4 2024, and $21.5 million for the full year 2025, up 40.5% year-over-year.

• Total vessel revenues declined 11.3% in Q4 2025 and 29.0% for the year, mainly due to fleet downsizing, partially offset by higher charter rates.

• Revenue from services surged due to the acquisition of MPC Capital, contributing $9.2 million in Q4 and $35.6 million for the year.

• Completed four vessel disposals and two sale-and-leaseback transactions, optimizing capital structure.

Financial highlights

• Adjusted net income for Q4 2025 was $5.2 million, compared to a $7.7 million loss in Q4 2024; for the year, adjusted net income was $14.5 million, down from $30.9 million in 2024.

• EBITDA for Q4 2025 reached $23.5 million (vs. -$28.7 million in Q4 2024); full-year EBITDA was $40.2 million, up from $29.7 million.

• Adjusted EBITDA for Q4 2025 was $11.2 million (vs. $3.4 million in Q4 2024); full-year adjusted EBITDA was $33.2 million, down from $52.3 million.

• Cash and restricted cash increased to $152.8 million at year-end 2025 from $87.9 million a year earlier.

• Basic EPS was $1.21 for Q4 2025 and $1.13 for the year, compared to -$1.24 and $3.50, respectively, in 2024.

Outlook and guidance

• Management maintains a positive long-term outlook for the dry-bulk sector, citing strong market rates and charter demand.

• The company is positioned to capitalize on future opportunities with a disciplined funding approach and strong balance sheet.