Imperial Petroleum (IPMM) investor relations material

Executive summary

• Q4 2025 saw record operational utilization of 91.8%, with tankers at 93.4% and dry bulk at 90.4%, driven by favorable markets and fleet expansion to 20 vessels by January 2026, with further acquisitions planned for 2026.

• Revenues for Q4 2025 surged 95% year-over-year to $51.1 million, with net income rising to $15 million, up 285% from Q4 2024.

• EBITDA reached $21.3 million in Q4 2025, a 233% increase year-over-year.

• Maintained a debt-free balance sheet and robust cash position, supporting ongoing growth and shareholder returns.

• Cash and equivalents stood at $179 million at year-end 2025, rising to about $198 million by March 2026.

Financial highlights

• Q4 2025 revenues reached $51.1 million, up 95% year-over-year; net income was $15 million, up 285% from Q4 2024.

• Full-year 2025 net income totaled $50 million; EBITDA $71 million; operating cash flow $81 million.

• Q4 2025 EPS (basic): $0.37; full-year 2025 EPS (basic): $1.35.

• Adjusted net income for 2025 was $53.2 million, with adjusted EPS (basic) of $1.44.

• Ended 2025 with $179 million in cash, increasing to $198 million by the call date.

Outlook and guidance

• Six additional vessels scheduled for delivery in 2026, targeting a fleet of 26 ships and 1.5 million dwt.

• Capital commitments for seven vessels total $130 million, with $52 million due by Q3 2026 and $78 million by end of 2026.

• Market outlook remains bullish for both tanker and dry bulk segments, supported by geopolitical factors and strong demand.

• Profitability expected to remain strong as market rates exceed break-even levels.

• Management highlights geopolitical risks in the Middle East as a key concern for tanker market stability.