Imperial Petroleum Inc (IMPP) financial statements: income statement, balance sheet and cash flow
Imperial Petroleum Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Imperial Petroleum Inc reported revenue of $161.0M (+9.2% year on year) and net income of $50.0M (-0.4% year on year).
Income statement
Imperial Petroleum Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$161.0M
$147.5M
$183.7M
$97.0M
Voyage expenses
$47.4M
$50.2M
$60.3M
$32.6M
Voyage expenses – related party
$2.0M
$1.9M
$2.3M
$1.2M
Vessels' operating expenses
$37.2M
$26.0M
$25.3M
$16.2M
Vessels' operating expenses – related party
$523.0K
$328.0K
$346.6K
$165.5K
Dry-docking costs
$1.7M
$1.7M
$6.6M
$1.9M
Management fees – related party
$2.6M
$1.7M
$1.6M
$1.0M
General and administrative expenses (including $465,176, $490,054 and $490,782 to related party)
$4.6M
$4.9M
$4.9M
$1.8M
Depreciation
$25.9M
$17.0M
$15.6M
$12.3M
Other operating income
($885.4K)
($1.9M)
—
—
Impairment loss
$0
$0
$9.0M
—
Net gain on sale of vessel – related party
$0
$0
—
—
Net loss on sale of vessel
$0
$1.6M
($8.2M)
—
Total expenses, net
$121.1M
$103.3M
$117.7M
$67.2M
Income from operations
$39.9M
$44.1M
$66.0M
$29.8M
Interest and finance costs
($12.9K)
($16.3K)
($1.8M)
($1.6M)
Interest expense – related party
($2.3M)
($382.1K)
—
—
Interest income
$7.3M
$6.7M
$4.5M
$1.3M
Interest income – related party
$0
$1.6M
$1.4M
—
Dividend income from related party
$760.4K
$762.5K
$404.2K
—
Foreign exchange gain / (loss)
$4.4M
($2.7M)
$700.3K
$11.6K
Other income, net
$10.1M
$6.0M
$5.1M
($308.5K)
Net income
$50.0M
$50.2M
$71.1M
$29.5M
Earnings per share attributable to common shareholders — basic
$1.35
$1.54
$3.22
$0.19
Earnings per share attributable to common shareholders — diluted
$1.29
$1.40
$2.93
$0.19
Weighted average number of shares, basic
34.5M
29.9M
18.6M
128.4M
Weighted average number of shares, diluted
36.2M
33.0M
22.9M
128.8M
Imperial Petroleum Inc income statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Total revenues
$148.8M
$68.4M
$88.2M
$124.5M
Voyage expenses
$33.1M
$20.3M
$29.5M
$34.6M
Voyage expenses – related party (Note 3)
$1.8M
$834.6K
$1.1M
$1.5M
Vessels' operating expenses
$25.3M
$15.3M
$12.3M
$13.8M
Vessels' operating expenses – related party (Note 3)
$335.0K
$207.5K
$159.5K
$154.3K
Drydocking costs
$9.0M
$1.7M
$625.5K
$1.3M
Management fees – related party (Note 3)
$1.6M
$1.0M
$805.6K
$871.6K
General and administrative expenses (including $256,241 and $262,797 to related parties, respectively) (Note 3)
$2.2M
$2.3M
$2.7M
$2.5M
Depreciation (Note 4)
$16.1M
$10.7M
$8.2M
$8.7M
Other operating income (Note 10)
($430.3K)
$0
($1.9M)
—
Total expenses, net
$88.9M
$52.4M
$55.1M
$72.4M
Income from operations
$59.9M
$16.0M
$33.1M
$52.1M
Interest and finance costs
($8.6K)
($6.7K)
—
($1.8M)
Interest expense – related parties
($583.5K)
($1.4M)
($8.2K)
—
Interest income
$3.9M
$4.5M
$2.3M
$2.1M
Dividend income from related party (Note 3)
$377.1K
$377.1K
$379.2K
$20.8K
Foreign exchange gain/(loss)
($826.5K)
$4.7M
($1.1M)
$149.1K
Other income, net
$2.9M
$8.1M
$3.1M
$490.3K
Net income
$62.8M
$24.1M
$36.2M
$52.6M
Balance sheet
Imperial Petroleum Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$5.8M
$67.8M
$91.9M
$50.9M
Time deposits
$173.3M
$138.9M
$32.1M
$68.0M
Trade and other receivables
$13.4M
$13.5M
$13.5M
$7.9M
Other current assets
$1.1M
$652.8K
$302.8K
$240.0K
Claim Receivables
$479.5K
—
—
—
Inventories
$4.7M
$7.3M
$7.3M
$5.5M
Advances and prepayments
$245.0K
$250.6K
$161.9K
$172.9K
Total current assets
$199.0M
$228.4M
$183.2M
$133.9M
Operating lease right-of-use asset
$0
$78.8K
—
—
Vessels, net
$335.4M
$208.2M
$180.8M
$226.4M
Investment in related party
$13.0M
$12.8M
$12.8M
—
Total non current assets
$348.4M
$221.1M
$193.6M
$232.0M
Total assets
$547.4M
$449.5M
$376.8M
$365.8M
Trade accounts payable
$6.0M
$5.2M
$8.3M
$8.1M
Payable to related parties
$3.0M
$18.7M
$2.3M
—
Accrued liabilities
$4.2M
$3.4M
$3.0M
$2.0M
Deferred income
$3.4M
$1.4M
$919.1K
$1.1M
Operating lease liability, current portion
$0
$78.8K
—
—
Total current liabilities
$16.6M
$28.8M
$14.5M
$24.4M
Total liabilities
$16.6M
$28.8M
$14.5M
$84.2M
Capital stock, $0.01 par value, 2,000,000,000 authorized at December 31, 2024 and 2025, 38,275,518 issued and 34,023,635 shares outstanding at December 31, 2024 and 48,900,620 shares issued and 44,648,737 shares outstanding as at December 31, 2025 (Note 8)
489.0K
382.8K
332.6K
1.9M
Preferred stock
$8.1K
$8.1K
$8.1K
$8.1K
Treasury stock 4,251,883 shares at December 31, 2024 and 2025, respectively with a par value of $0.01 per share (Note 8)
-$8390225.00
-$8390225.00
-$5885727.00
—
Additional paid-in capital
$344.4M
$282.6M
$270.2M
$251.1M
Retained earnings
$194.3M
$146.0M
$97.6M
$28.6M
Total stockholders' equity
$530.8M
$420.7M
$362.3M
$281.7M
Total liabilities and stockholders' equity
$547.4M
$449.5M
$376.8M
$365.8M
Imperial Petroleum Inc balance sheet, quarters
Line item
Jun 30, 2026
Jun 30, 2025
Jun 30, 2024
Jun 30, 2023
Cash and cash equivalents
$7.5M
$127.7M
$69.7M
$36.7M
Time deposits
$237.7M
$84.5M
$60.0M
$61.9M
Trade and other receivables
$18.7M
$12.8M
$18.5M
$10.4M
Other current assets (Note 9)
$1.2M
$166.8K
$637.8K
$376.1K
Claims receivable
$909.8K
—
—
—
Inventories
$10.4M
$6.0M
$8.7M
$7.4M
Advances and prepayments
$671.5K
$225.5K
$604.8K
$353.2K
Total current assets
$277.1M
$231.4M
$197.7M
$117.2M
Operating lease right-of-use asset
$263.4K
$39.9K
$114.9K
$31.3K
Vessels, net (Note 4)
$354.7M
$350.6M
$201.9M
$216.8M
Investment in related party (Note 3)
$13.0M
$12.8M
$12.8M
$12.7M
Total non current assets
$367.9M
$363.4M
$214.8M
$229.5M
Total assets
$645.1M
$594.8M
$412.5M
$346.6M
Trade accounts payable
$13.9M
$6.2M
$5.6M
$8.1M
Payable to related parties (Notes 3)
$35.2M
$137.7M
$3.3M
$491.5K
Accrued liabilities
$6.4M
$3.2M
$3.2M
$2.6M
Operating lease liability, current portion
$101.0K
$39.9K
$72.7K
$31.3K
Deferred income
$2.7M
$2.2M
$1.4M
$173.0K
Total current liabilities
$58.1M
$149.4M
$13.6M
$11.5M
Operating lease liability, non-current portion
$162.5K
—
$42.2K
—
Total non-current liabilities
$162.5K
—
$42.2K
$0
Total liabilities
$58.3M
$149.4M
$13.6M
$11.5M
Common stock, 2,000,000,000 shares authorized at December 31, 2025 and June 30, 2026, 48,900,620 shares issued and 44,648,737 outstanding at December 31, 2025 and 50,440,620 shares issued and 44,475,268 outstanding at June 30, 2026
504.4K
386.6K
345.8K
170.9K
Preferred stock
$8.1K
$8.1K
$8.1K
$8.1K
Treasury stock 4,251,883 shares at December 31, 2025 and 5,965,352 shares at June 30, 2026
-19.0M
-8.4M
-8.4M
—
Additional paid-in capital
$349.1M
$284.2M
$273.9M
$244.9M
Retained earnings
$256.2M
$169.2M
$132.9M
$80.1M
Total stockholders' equity
$586.8M
$445.4M
$398.8M
$325.2M
Total liabilities and stockholders' equity
$645.1M
$594.8M
$412.5M
$346.6M
Cash flow statement
Imperial Petroleum Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income for the year
$50.0M
$50.2M
$71.1M
$29.5M
Depreciation
$25.9M
$17.0M
$15.6M
$12.3M
Amortization of deferred finance charges
$0
$0
$474.0K
$94.0K
Noncash lease expense
$78.8K
$71.2K
$62.6K
—
Shared based compensation
$3.2M
$3.4M
$2.4M
$117.3K
Impairment loss
$0
$0
$9.0M
—
Net gain on sale of vessel – related party
$0
$0
—
—
Net loss on sale of vessel
$0
$1.6M
($8.2M)
—
Unrealized foreign exchange (gain)/loss on time deposits
($967.8K)
$2.0M
($426.0K)
—
Dividends income from related party
$0
—
($404.2K)
—
Trade and other receivables
$52.5K
$42.7K
($6.5M)
($6.5M)
Other current assets
($455.2K)
($350.0K)
($62.8K)
($240.0K)
Claim receivables
($479.5K)
—
—
—
Inventories
$2.6M
($15.2K)
($1.9M)
($5.2M)
Changes in operating lease liabilities
($78.8K)
($71.2K)
($62.6K)
—
Advances and prepayments
$5.5K
($88.6K)
($182.0K)
($22.4K)
Due from related party
($191.7K)
$2.2M
($2.2M)
—
Trade accounts payable
$716.1K
($2.2M)
$118.5K
$6.7M
Due to related party
($2.4M)
$3.1M
($692.1K)
—
Accrued liabilities
$826.0K
$361.5K
$1.4M
$1.5M
Deferred income
$2.0M
$500.1K
($54.9K)
$607.6K
Net cash provided by operating activities
$80.8M
$77.7M
$79.5M
$40.9M
Dividends income received
$0
$0
$241.7K
—
Proceeds from sale of vessel, net
$0
$41.2M
$3.9M
—
Payments for acquisition and capitalized expenses of vessels
($1.7M)
($74.7M)
($28.1M)
($118.7M)
Purchase of bank time deposits
($318.1M)
($259.6M)
$203.8M
($68.0M)
Maturity of bank time deposits
$284.8M
$150.8M
($167.5M)
—
Proceeds from seller financing
$0
$35.7M
—
—
Net cash provided by/(used in) investing activities
($35.1M)
($106.7M)
$12.3M
($186.7M)
Proceeds from issuance of Series B preferred shares
655.0K
—
—
200.0K
Proceeds from exercise of stock options
$60.0M
$475.0K
—
—
Proceeds from equity offerings
$2.1M
$0
$29.1M
$168.0M
Stock issuance costs
($4.0M)
$0
($1.5M)
($11.2M)
Issuance costs on warrants exercise
$0
($22.2K)
—
—
Stock repurchase
$0
($2.5M)
($5.9M)
—
Warrants repurchase
$0
$0
($1.5M)
—
Dividends paid on preferred shares
-1.7M
-1.7M
-2.1M
-1.7M
Loan repayments
$0
$0
($70.4M)
($5.4M)
Repayment of seller and capital expenditures financing
($164.7M)
—
—
—
Cash retained by C3is Inc. at spin off
$0
$0
($5.0M)
—
Net cash (used in)/ provided by financing activities
($107.7M)
$4.8M
($57.4M)
$196.9M
Net increase/(decrease) in cash, cash equivalents
($62.0M)
($24.1M)
$34.4M
$51.2M
Cash, cash equivalents at the beginning of the year