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MARKETS / NASDAQ / USEA
NASDAQ · WATER TRANSPORTATION · SMALL CAP

United Maritime Corp. USEA

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$5.4M
$-6.2M
$1.5M
▼ 48.8% YoY
In brief

What this company does

United Maritime Corporation is an international shipping company currently specializing in worldwide seaborne transportation services. We currently operate a fleet of six dry bulk vessels, comprising three Panamax, one Capesize and two Kamsarmax vessels (including one vessel that we have contracted to sell, as described below) with an aggregate cargo-carrying capacity of approximately 577,750 dwt and an age of approximately 13.7 years. We were incorporated under the laws of the Republic of the Marshall Islands, pursuant to the BCA, on January 20, 2022. Our common shares are listed on Nasdaq and began trading on the Nasdaq Capital Market on July 6, 2022 under the symbol “USEA”. Following the Spin-Off, we and Seanergy became independent publicly traded companies.

Written from the business description in United Maritime Corporation's annual report to the U.S. Securities and Exchange Commission, filed 8 April 2026. Every sentence was checked against that document before publication.

Growth
USD 5.4M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 5.4 · Net income -6.2
20.0M-2.5M-5.0M2022202320242025
Compound annual growth
−16.1%
−39.6%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−114 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -8.4% · Net -114.1%
200%400%-50%-100%2022202320242025
ROE
FY2025 · ROE -11.0%
20%40%-5%-10%2022202320242025

Each USD of equity lost 11 cents this year.

Cash & shareholders
USD 1.3M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 1.5
-40M-80M2022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends 1.1 · Net buybacks 0.2
4M8MDividendsNet buybacks2022202320242025

USD 1.1M in dividends and USD 204,000.00 in buybacks went back to shareholders in a year without profit.

Total assetsUSD 138.7M
EquityUSD 52.9M
CashUSD 14.2M
Gross debtUSD 47.9M
Net debtUSD 33.7M
Current ratio0.68×

Net debt stands at 64% of equity.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.00.00.00.0
Operating income $B−0.00.00.00.0
EBITDA $B0.00.00.00.0
Income tax $B····
Net income $B−0.0−0.00.00.0
Free cash flow $B0.00.0−0.1−0.1
EPS, diluted $−0.70−0.390.024.92
Dividend / sh $····
Payout %−18−784237·
ROE %−11.0−5.40.358.1
Shares out B0.010.010.010.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 16 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 60 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityWater Transportation
Listed onNASDAQ
Incorporated inoutside the United States — SEC code 1T
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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