USEA on Nasdaq
United Maritime Corp
United Maritime Corp is a water transportation company, listed on Nasdaq (USEA).1
$2.57 down 0.10 (3.75%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 21, 2026.
Overview
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- TickerUSEA on Nasdaq1
- IndustryWater Transportation1
- Headquarters1T1
- Incorporated inMarshall Islands4
- Business address154 Vouliagmenis Avenue, Glyfada, 166 744
- Filer categoryNon-accelerated filer, Emerging growth company4
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Our common shares are listed on Nasdaq and began trading on the Nasdaq Capital Market on July 6, 2022 under the symbol “USEA”.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-8.4%Operating margin3
-113.6%Net margin3
-11.7%Return on equity3
0.63×Debt to equity3
$1.5MFree cash flow3
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$5.4M
Out of $5.4M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending30¢$668.0K
- Dividends paid51¢$1.1M
- Share buybacks9¢$204.0K
- Kept or used elsewhere10¢$221.0K
Out of $2.2M of cash from operations.3
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Vessel revenue, net | $37.8M | $45.4M | $36.1M |
| Voyage expenses | -$5.1M | -$1.8M | -$3.1M |
| Vessel operating expenses | -$15.7M | -$19.7M | -$20.3M |
| Management fees | -$367.0K | -$522.0K | -$545.0K |
| Management fees - related party | -$1.7M | -$1.7M | -$1.4M |
| General and administration expenses | -$4.3M | -$4.0M | -$6.0M |
| Depreciation and amortization | -$7.8M | -$9.7M | -$9.1M |
| Amortization of deferred dry-docking costs | -$3.0M | -$3.7M | -$285.0K |
| Impairment loss | -$2.1M | -$828.0K | $0 |
| Gain on sale of vessels, net | $1.8M | $1.4M | $11.8M |
| Operating (loss) / income | -$455.0K | $4.8M | $7.1M |
| Interest and finance costs | -$6.4M | -$8.4M | -$7.2M |
| Interest and finance costs-related party | -$48.0K | $0 | $0 |
| Loss on extinguishment of debt | -$640.0K | -$397.0K | -$85.0K |
| Interest income | $218.0K | $314.0K | $430.0K |
| Loss on equity method investment | -$86.0K | -$142.0K | $0 |
| Other income | $151.0K | $311.0K | $112.0K |
| Gain on acquisition of RGI | $1.3M | $0 | $0 |
| Foreign currency exchange (losses) / gain, net | -$249.0K | $129.0K | -$132.0K |
| Total other expenses, net | -$5.8M | -$8.2M | -$6.9M |
| Net (loss) / income | -$6.2M | -$3.4M | $221.0K |
| Less: Net (loss) / income attributable to non-controlling interest | -$26.0K | $0 | $0 |
| Net (loss) / income attributable to common stockholders of United Maritime Corporation | -$6.2M | -$3.4M | $221.0K |
| Dividends to non-vested participating securities | $0 | $0 | -$95.0K |
| Net (loss) / income attributable to common stockholders | -$6.2M | -$3.4M | $126.0K |
| Net (loss) / income per common share, basic (in dollars per share) | -$0.70 | -$0.39 | $0.02 |
| Net (loss) / income per common share, diluted (in dollars per share) | -$0.70 | -$0.39 | $0.02 |
| Weighted average number of common shares outstanding, basic (in shares) | 8.9M shares | 8.7M shares | 8.4M shares |
| Weighted average number of common shares outstanding, diluted (in shares) | 8.9M shares | 8.7M shares | 8.4M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $14.2M | $6.4M | ||
| Restricted cash | $400.0K | $0 | ||
| Accounts receivable trade | $1.4M | $1.4M | ||
| Due from related parties | $386.0K | $0 | ||
| Inventories | $363.0K | $650.0K | ||
| Prepaid expenses | $413.0K | $601.0K | ||
| Vessel held for sale | $14.7M | $14.9M | ||
| Other current assets | $1.2M | $503.0K | ||
| Total current assets | $33.1M | $24.5M | ||
| Vessels, net | $58.8M | $110.6M | ||
| Right-of-use assets | $26.3M | $27.6M | ||
| Total fixed assets | $85.1M | $138.1M | ||
| Restricted cash, non-current | $0 | $350.0K | ||
| Other non-current assets | $1.4M | $1.2M | ||
| Equity method investment | $17.4M | $3.6M | ||
| Deferred charges and other investments, non-current | $1.6M | $4.3M | ||
| TOTAL ASSETS | $138.7M | $172.1M | ||
| Current portion of long-term debt and other financial liabilities, net of deferred finance costs and debt discounts of $339 and $723, respectively | $14.3M | $17.6M | ||
| Finance lease liabilities, current | $16.9M | $2.0M | ||
| Due to related parties | $9.5M | $7.3M | ||
| Trade accounts and other payables | $2.4M | $1.8M | ||
| Accrued liabilities | $4.1M | $2.7M | ||
| Deferred revenue | $593.0K | $1.4M | ||
| Dividends payable | $818.0K | $663.0K | $652.0K | |
| Total current liabilities | $48.6M | $33.5M | ||
| Long-term debt and other financial liabilities, net of current portion and deferred finance costs and debt discounts of $518 and $989, respectively | $33.6M | $61.1M | ||
| Finance lease liabilities, non-current | $0 | $16.9M | ||
| Other liabilities, non-current | $0 | $428.0K | ||
| Total liabilities | $82.2M | $112.0M | ||
| Preferred stock, $0.0001 par value; 100,000,000 shares authorized; 40,000 Series B preferred shares issued and outstanding as at December 31, 2025 and 2024, respectively | $0 | $0 | ||
| Common stock, $0.0001 par value; 2,000,000,000 authorized shares as at December 31, 2025 and 2024; 9,083,645 and 8,844,267 shares issued and outstanding as at December 31, 2025 and 2024, respectively | $1.0K | $1.0K | ||
| Additional paid-in capital | $39.5M | $39.2M | ||
| Accumulated other comprehensive income / (loss) | $7.0K | -$4.0K | ||
| Retained earnings | $13.5M | $20.9M | ||
| Total United Maritime Corporation stockholders' equity | $52.9M | $60.1M | ||
| Non-controlling interest | $3.5M | $0 | ||
| Total stockholder's equity | $56.5M | $60.1M | $65.9M | $64.6M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $138.7M | $172.1M | ||
| Deferred finance costs and debt discounts, current | $339.0K | $723.0K | ||
| Deferred finance costs and debt discounts, non-current | $518.0K | $989.0K | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 40.0K shares | 40.0K shares | ||
| Preferred stock, shares outstanding (in shares) | 40.0K shares | 40.0K shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 2.0B shares | 2.0B shares | ||
| Common stock, shares issued (in shares) | 9.1M shares | 8.8M shares | ||
| Common stock, shares outstanding (in shares) | 9.1M shares | 8.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $14.2M | $6.4M | ||
| Restricted cash | $400.0K | $0 | ||
| Accounts receivable trade | $1.4M | $1.4M | ||
| Due from related parties | $386.0K | $0 | ||
| Inventories | $363.0K | $650.0K | ||
| Prepaid expenses | $413.0K | $601.0K | ||
| Vessel held for sale | $14.7M | $14.9M | ||
| Other current assets | $1.2M | $503.0K | ||
| Total current assets | $33.1M | $24.5M | ||
| Vessels, net | $58.8M | $110.6M | ||
| Right-of-use assets | $26.3M | $27.6M | ||
| Total fixed assets | $85.1M | $138.1M | ||
| Restricted cash, non-current | $0 | $350.0K | ||
| Other non-current assets | $1.4M | $1.2M | ||
| Equity method investment | $17.4M | $3.6M | ||
| Deferred charges and other investments, non-current | $1.6M | $4.3M | ||
| TOTAL ASSETS | $138.7M | $172.1M | ||
| Current portion of long-term debt and other financial liabilities, net of deferred finance costs and debt discounts of $339 and $723, respectively | $14.3M | $17.6M | ||
| Finance lease liabilities, current | $16.9M | $2.0M | ||
| Due to related parties | $9.5M | $7.3M | ||
| Trade accounts and other payables | $2.4M | $1.8M | ||
| Accrued liabilities | $4.1M | $2.7M | ||
| Deferred revenue | $593.0K | $1.4M | ||
| Dividends payable | $818.0K | $663.0K | $652.0K | |
| Total current liabilities | $48.6M | $33.5M | ||
| Long-term debt and other financial liabilities, net of current portion and deferred finance costs and debt discounts of $518 and $989, respectively | $33.6M | $61.1M | ||
| Finance lease liabilities, non-current | $0 | $16.9M | ||
| Other liabilities, non-current | $0 | $428.0K | ||
| Total liabilities | $82.2M | $112.0M | ||
| Preferred stock, $0.0001 par value; 100,000,000 shares authorized; 40,000 Series B preferred shares issued and outstanding as at December 31, 2025 and 2024, respectively | $0 | $0 | ||
| Common stock, $0.0001 par value; 2,000,000,000 authorized shares as at December 31, 2025 and 2024; 9,083,645 and 8,844,267 shares issued and outstanding as at December 31, 2025 and 2024, respectively | $1.0K | $1.0K | ||
| Additional paid-in capital | $39.5M | $39.2M | ||
| Accumulated other comprehensive income / (loss) | $7.0K | -$4.0K | ||
| Retained earnings | $13.5M | $20.9M | ||
| Total United Maritime Corporation stockholders' equity | $52.9M | $60.1M | ||
| Non-controlling interest | $3.5M | $0 | ||
| Total stockholder's equity | $56.5M | $60.1M | $65.9M | $64.6M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $138.7M | $172.1M | ||
| Deferred finance costs and debt discounts, current | $339.0K | $723.0K | ||
| Deferred finance costs and debt discounts, non-current | $518.0K | $989.0K | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 40.0K shares | 40.0K shares | ||
| Preferred stock, shares outstanding (in shares) | 40.0K shares | 40.0K shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 2.0B shares | 2.0B shares | ||
| Common stock, shares issued (in shares) | 9.1M shares | 8.8M shares | ||
| Common stock, shares outstanding (in shares) | 9.1M shares | 8.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) / income | -$6.2M | -$3.4M | $221.0K |
| Depreciation and amortization | $7.8M | $9.7M | $9.1M |
| Amortization of deferred dry-docking costs | $3.0M | $3.7M | $285.0K |
| Amortization of deferred finance costs and debt discounts | $563.0K | $727.0K | $781.0K |
| Stock based compensation | $483.0K | $779.0K | $2.5M |
| Loss on equity method investment | $86.0K | $142.0K | $0 |
| Loss on extinguishment of debt | $312.0K | $151.0K | $68.0K |
| Impairment loss | $2.1M | $828.0K | $0 |
| Adjustments related to EUAs | $139.0K | $0 | $0 |
| Gain on sale of vessels, net | -$1.8M | -$1.4M | -$11.8M |
| Gain on acquisition of RGI | -$1.3M | $0 | $0 |
| Accounts receivable trade | $16.0K | -$1.2M | $527.0K |
| Inventories | $313.0K | -$82.0K | -$531.0K |
| Prepaid expenses | $188.0K | -$55.0K | $443.0K |
| Other current assets | -$518.0K | $3.2M | -$478.0K |
| Due from related parties | $0 | $142.0K | -$142.0K |
| Deferred charges, non-current | -$1.9M | -$6.6M | -$5.5M |
| Trade accounts and other payables | -$1.7M | -$1.8M | -$1.6M |
| Accrued liabilities | -$50.0K | -$5.0M | $1.1M |
| Due to related parties | $1.4M | $2.5M | -$755.0K |
| Deferred revenue | -$802.0K | $868.0K | -$500.0K |
| Net cash provided by / (used in) operating activities | $2.2M | $3.3M | -$6.2M |
| Vessels acquisitions and improvements | -$668.0K | -$249.0K | -$81.7M |
| Acquisition of a subsidiary, net of cash acquired | -$4.2M | $0 | $0 |
| Leasehold improvements | -$89.0K | $0 | $0 |
| Investment in equity securities | -$290.0K | $0 | $0 |
| Lease prepayments and other initial direct costs | $0 | -$8.3M | -$14.9M |
| Equity method investments | -$4.9M | -$3.7M | $0 |
| Gross proceeds from sale of vessels | $50.5M | $20.2M | $37.5M |
| Net cash provided by / (used in) investing activities | $40.4M | $7.9M | -$59.1M |
| Proceeds from issuance of common stock and warrants, net of underwriters fees and commissions | $0 | $0 | $1.9M |
| Due to related parties | $219.0K | $4.4M | $0 |
| Proceeds from related party loan | $2.0M | $0 | $0 |
| Payment of related party loan | -$2.0M | $0 | $0 |
| Payments for repurchase of common stock | -$204.0K | -$469.0K | -$673.0K |
| Proceeds from non-controlling interest | $22.0K | $0 | $0 |
| Proceeds from long-term debt and other financial liabilities | $0 | $47.1M | $54.5M |
| Payments of financing and stock issuance costs | -$20.0K | -$1.6M | -$1.8M |
| Dividends paid | -$1.1M | -$2.6M | -$9.4M |
| Payments of finance lease liabilities | -$2.0M | -$32.1M | -$2.8M |
| Repayments of long-term debt and other financial liabilities | -$31.7M | -$33.7M | -$31.9M |
| Net cash (used in) / provided by financing activities | -$34.8M | -$19.0M | $9.9M |
| Net increase / (decrease) in cash and cash equivalents and restricted cash | $7.8M | -$7.7M | -$55.4M |
| Interest | $5.9M | $7.6M | $6.3M |
| Deposit | $0 | $1.2M | $0 |
| Vessels' improvements | -$20.0K | -$62.0K | -$232.0K |
| Leasehold improvements | -$21.0K | $0 | $0 |
| Right-of use assets and initial direct costs | $0 | -$20.2M | -$34.8M |
| Payments of financing and stock issuance stocks | $0 | $0 | -$194.0K |
No quarter-by-quarter statement was filed.
Corporate structure
United Maritime Corp sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of United Maritime Corp
- Stamatios Tsantanis Filed SCHEDULE 13D/A on United Maritime Corp, latest Apr 8, 2026 (4 filings since Jan 6, 2023)
- CVI Investments, Inc. Filed SC 13G/A on United Maritime Corp, latest Feb 14, 2023 (2 filings since Jul 28, 2022)
- INTRACOASTAL CAPITAL, LLC Filed SC 13G on United Maritime Corp, latest Jul 27, 2022
- United Maritime Corp 1T
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What United Maritime Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $14.2M3 Dec 31, 2025 | $6.4M3 Dec 31, 2024 | +120.9% |
| Stakes in other companies (equity method) | $17.4M3 Dec 31, 2025 | $3.6M3 Dec 31, 2024 | +385.1% |
Inventory
Leadership
Who has led United Maritime Corp, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerStamatios Tsantanis Mar 18, 2026 to now8
- Chief financial officerStavros Gyftakis Mar 18, 2026 to now9
Board members and other officers (6)
- OfficerStavros Gyftakis Apr 8, 2026 to now10
- Board memberChristina Anagnostara Mar 18, 2026 to now11
- Board memberDimitrios Kostopoulos Mar 18, 2026 to now12
- Board memberIoannis Kartsonas Mar 18, 2026 to now13
- Board memberStamatios Tsantanis Mar 18, 2026 to now8
- Board memberStavros Gyftakis Mar 18, 2026 to now9
Timeline
- Mar 18, 2026New chief executive Stamatios Tsantanis becomes CEO8
Calendar
Coming up
- Nov 10, 2026Reports results for the quarter ending Sep/202614
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
127 filings to the SEC since October 2021: 4 annual reports, 10 insider forms, 7 large holders, 106 other. The latest 20:
- Oct 7, 20264 EDGAR
- Oct 2, 20266-K EDGAR
- Aug 7, 20266-K EDGAR
- Aug 4, 20264 EDGAR
- Jul 24, 2026EFFECT EDGAR
- Jul 15, 20264 EDGAR
- Jul 13, 2026F-3 EDGAR
- May 26, 20264 EDGAR
- May 22, 20266-K EDGAR
- Apr 9, 20266-K EDGAR
- Apr 8, 202620-F EDGAR
- Apr 8, 20264 EDGAR
- Apr 8, 2026SCHEDULE 13D/A EDGAR
- Mar 18, 20266-K EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Feb 19, 20266-K EDGAR
The 127 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 2 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Kostopoulos DimitriosDirector | Buy | 15,000 | $2.74 | $41.1K | Form 4 |
| Jul 13, 2026 | Gyftakis StavrosSee Remarks | Sale | 5,000 | $2.64 | $13.2K | Form 4 |
| May 22, 2026 | Kostopoulos DimitriosDirector | Buy | 20,000 | $2.40 | $48.0K | Form 4 |
| Apr 6, 2026 | Gyftakis StavrosSee Remarks | Sale | 5,000 | $2.08 | $10.4K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Stamatios TsantanisSCHEDULE 13D/A, 4 filings Jan 6, 2023 to Apr 8, 202615
- CVI Investments, Inc.SC 13G/A, 2 filings Jul 28, 2022 to Feb 14, 202316
- INTRACOASTAL CAPITAL, LLCSC 13G, 1 filing Jul 27, 202217
SEC filer profile
How United Maritime Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARUnited Maritime Corp1
- CIK0001912847
- Filer statusNon-accelerated filer an emerging growth company; not a shell company5
- Incorporated inMarshall Islands5
- Fiscal year endsDecember 311
- Industry code (SIC)4400 Water Transportation1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address154 Vouliagmenis Avenue, Glyfada, 166 74, Greece1
- Phone30 21301815071
- Shares outstanding9,083,645 Common Stock shares; 40,000 Series B Preferred Stock shares as of Dec 31, 20255
- AuditorErnst & Young (Hellas) Certified Auditors Accountants S.A., Athens, Greece PCAOB ID 1457; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceFeb 23, 20221
- Filings127 in all: 6-K (45), 424B3 (22), CORRESP (10), UPLOAD (6), 3 (5), 4 (5), EFFECT (5), 20-F (4)1
All 24 form types
DRSLTR (3), 144 (2), DRS (2), DRS/A (2), F-3 (2), POS AM (2), SC 13G (2), SCHEDULE 13D/A (2), 20FR12B (1), 424B1 (1), CERT (1), F-1 (1), SC 13D (1), SC 13D/A (1), SC 13G/A (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (20-F) Apr 8, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Shares of common stock, par value $0.0001, including the Preferred Stock Purchase Rights | USEA | Nasdaq |
From the cover page of the 20-F filed Apr 8, 2026 (Section 12(b) of the Exchange Act).5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2Yahoo FinanceUSEA quote
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10SEC EDGARStavros Gyftakis, Officer
- 11SEC EDGARChristina Anagnostara, Board member
- 12SEC EDGARDimitrios Kostopoulos, Board member
- 13SEC EDGARIoannis Kartsonas, Board member
- 14NasdaqNasdaq calendar
- 15
- 16
- 17