- Castor Maritime Inc. reported a **net loss of $17,008,587** for the six months ended June 30, 2025, a significant decline from the net income of $45,185,357 for the same period in 2024.  **[1720161_0001140361-25-036888_ef20050371_ex99-2.htm:7]**  This resulted in a **basic loss per common share of $1.84** for the six months ended June 30, 2025, compared to basic earnings per common share of $4.52 in the prior year period.  **[1720161_0001140361-25-036888_ef20050371_ex99-1.htm:47]** 
- Total vessel revenues decreased by **41.4%** to **$21,482,267** for the six months ended June 30, 2025, from $36,669,776 in the corresponding period of 2024, primarily due to a reduction in Available Days from vessel sales and lower prevailing charter rates, with the Daily TCE Rate falling to **$10,410** from $13,769.  **[1720161_0001140361-25-036888_ef20050371_ex99-2.htm:7]** 
- The company's balance sheet as of June 30, 2025, shows a decrease in total assets to **$702,809,497** from $797,376,921 at December 31, 2024, and a substantial reduction in total non-current liabilities to **$22,847,002** from $107,509,414, largely due to the full repayment of a **$100.0 million related-party term loan** by June 30, 2025.  **[1720161_0001140361-25-036888_ef20050371_ex99-1.htm:2]** **[1720161_0001140361-25-036888_ef20050371_ex99-1.htm:33]** 
- A new revenue stream from services, totaling **$16,803,545**, was generated for the six months ended June 30, 2025, following the acquisition of MPC Capital on December 16, 2024.  **[1720161_0001140361-25-036888_ef20050371_ex99-2.htm:1]** **[1720161_0001140361-25-036888_ef20050371_ex99-2.htm:7]** **[1720161_0001140361-25-036888_ef20050371_ex99-1.htm:48]**

Castor Maritime Inc. Reports Net Loss and Decreased Vessel Revenues for Six Months Ended June 30, 2025

- Castor Maritime Inc. reported a **37.4% decrease in total vessel revenues** to **$10.2 million** for the three months ended June 30, 2025, and a **41.4% decrease** to **$21.5 million** for the six months ended June 30, 2025, compared to the same periods in 2024.  **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:0]** 
- The company recorded a **net income of $6.3 million** for the three months ended June 30, 2025, a **72.5% decrease** from the prior year, and a **net loss of $17.0 million** for the six months ended June 30, 2025, compared to a net income of $45.2 million in the first half of 2024.  **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:0]** 
- Basic earnings per common share were **$0.34** for the three months ended June 30, 2025, and a **loss of $(1.84)** for the six months ended June 30, 2025.  **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:0]** 
- As of June 30, 2025, cash decreased to **$44.8 million** from $87.9 million at December 31, 2024, while total debt significantly decreased to **$5.3 million** from $103.7 million due to substantial prepayments, primarily to Toro Corp..  **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:0]** **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:4]** 
- On September 29, 2025, Castor agreed to issue **60,000 Series E cumulative perpetual convertible preferred shares** to Toro Corp. for **$60.0 million** in cash, with the transaction closing on September 30, 2025.  **[1720161_0001140361-25-036884_ef20056443_6k.htm:1]** **[1720161_0001140361-25-036884_ef20056443_ex99-1.htm:4]**

Castor Maritime (CTRM)