Top Ships Inc. (TOPS) quarterly income statement — complete revenue, gross profit & net income history
Top Ships Inc. (TOPS) annual income statement — 24-year revenue, gross profit & net income history
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'23 | Q2'23 | Q4'22 | Q2'22 | Q4'21 | Q2'21 | Q4'20 | Q2'20 | Q4'19 | Q2'19 | Q4'18 | Q2'18 | Q4'17 | Q2'17 | Q4'16 | Q2'16 | Q4'15 |
|---|
| Sales/Revenue | 25.48M | 36.6M | 43.81M | 41.8M | 41.15M | 20.91M | 19.42M | 15.53M | 12.65M | 13.81M | 16.3M | 18.15M | 14.89M | 21.36M | 19.68M | 20.38M | 18.98M | 8.4M | 5.81M | 8.38M |
| Revenue Growth % | -41.85% | - | - | 99.97% | 111.84% | 34.62% | 53.48% | 12.41% | -22.35% | -23.89% | 9.43% | -15.04% | -24.34% | 4.83% | 3.69% | 142.54% | 226.52% | 0.3% | 23.77% | 464.56% |
| Cost of Goods Sold | 12.29M | 15.2M | 17.96M | 16.88M | 17.6M | 7.46M | 7.98M | 6.98M | 6.97M | 5.58M | 6.39M | 7.88M | 8.68M | 11.27M | 10.74M | 10.43M | 10.21M | 4.51M | 3.94M | 6.32M |
| COGS % of Revenue | 48.23% | 41.54% | 41% | 40.38% | 42.78% | 35.68% | 41.08% | 44.94% | 55.04% | 40.42% | 39.22% | 43.43% | 58.26% | 52.75% | 54.57% | 51.16% | 53.77% | 53.71% | 67.76% | 75.4% |
| Gross Profit | 13.19M | 21.4M | 25.85M | 24.92M | 23.54M | 13.45M | 11.44M | 8.55M | 5.69M | 8.23M | 9.91M | 10.27M | 6.22M | 10.09M | 8.94M | 9.96M | 8.78M | 3.89M | 1.87M | 2.06M |
| Gross Margin % | 51.77% | 58.46% | 59% | 59.62% | 57.22% | 64.32% | 58.92% | 55.06% | 44.96% | 59.58% | 60.78% | 56.57% | 41.74% | 47.25% | 45.42% | 48.84% | 46.23% | 46.29% | 32.24% | 24.6% |
| Gross Profit Growth % | -48.97% | - | - | 85.36% | 105.71% | 57.25% | 101.14% | 3.89% | -42.56% | -19.85% | 59.34% | 1.73% | -30.47% | 1.4% | 1.89% | 155.95% | 368.12% | 88.72% | 209.32% | 255.34% |
| Operating Expenses | 1.57M | 13.36M | 7.61M | 12.47M | 7.27M | 4.64M | 3.68M | 3.01M | 3.43M | 12.44M | 6.08M | 12.07M | 2.62M | 7.75M | 13.55M | 10.63M | 6.93M | 3.23M | 1.26M | 4.61M |
| OpEx % of Revenue | 6.17% | 36.5% | 17.36% | 29.82% | 17.67% | 22.22% | 18.94% | 19.4% | 27.1% | 90.08% | 37.3% | 66.51% | 17.57% | 36.26% | 68.85% | 52.13% | 36.53% | 38.45% | 21.75% | 55.07% |
| Selling, General & Admin | 1.57M | 13.36M | 7.61M | 12.47M | 7.27M | 994.5K | 860.5K | 957.5K | 1.31M | 1.01M | 2.77M | 1.19M | 894K | 6.98M | 9.44M | 4.74M | 7.46M | 1.82M | 1.33M | 2.83M |
| SG&A % of Revenue | 6.17% | 36.5% | 17.36% | 29.82% | 17.67% | 4.76% | 4.43% | 6.17% | 10.37% | 7.29% | 17.01% | 6.57% | 6% | 32.67% | 47.96% | 23.23% | 39.28% | 21.64% | 22.96% | 33.78% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 768K | 1000K | 1000K | -523K | 1000K | -70.5K | 1000K |
| Operating Income | 11.62M | 8.04M | 18.24M | 12.45M | 16.27M | 8.74M | 7.53M | 5.27M | 2.71M | 6.16M | 1.52M | 5.45M | 2.67M | -388K | -3.5M | 2.17M | -558K | 2.5M | -74.5K | -1.74M |
| Operating Margin % | 45.6% | 21.96% | 41.64% | 29.79% | 39.55% | 41.83% | 38.75% | 33.95% | 21.4% | 44.58% | 9.34% | 30.04% | 17.93% | -1.82% | -17.79% | 10.67% | -2.94% | 29.73% | -1.28% | -20.76% |
| Operating Income Growth % | -36.32% | - | - | 42.43% | 116.21% | 65.84% | 177.94% | -14.38% | 77.92% | 12.93% | -43% | 1505.41% | 176.26% | -117.85% | -527.42% | -12.99% | -648.99% | 243.67% | 97.13% | -43575% |
| EBITDA | 17M | 23.11M | 25.11M | 19.63M | 23.45M | 15.92M | 13.64M | 9.6M | 4.38M | 12.16M | 5.11M | 9.02M | 5.32M | 3.37M | -499K | 5.25M | 2.23M | 3.68M | 539.5K | -1.13M |
| EBITDA Margin % | 66.72% | 63.12% | 57.32% | 46.95% | 56.99% | 76.15% | 70.23% | 61.84% | 34.59% | 88.03% | 31.34% | 49.7% | 35.74% | 15.79% | -2.54% | 25.75% | 11.76% | 43.78% | 9.28% | -13.46% |
| EBITDA Growth % | -32.31% | - | - | 23.3% | 71.9% | 65.76% | 211.6% | -21.02% | -14.3% | 34.79% | -4.03% | 167.46% | 1166.63% | -35.73% | -122.36% | 42.67% | 313.72% | 426.11% | 122.37% | -381.3% |
| D&A (Non-Cash Add-back) | 5.38M | 15.07M | 6.87M | 7.17M | 7.17M | 7.17M | 6.11M | 4.33M | 1.67M | 6M | 3.59M | 3.57M | 2.65M | 3.76M | 3M | 3.07M | 2.79M | 1.18M | 614K | 611K |
| EBIT | 11.62M | 8.04M | 18.24M | 11.41M | 16.33M | 8.74M | 7.53M | 5.27M | 2.71M | 6.16M | 1.52M | 5.45M | 2.67M | -388K | -3.5M | 2.17M | -558K | 2.5M | -74.5K | -1.74M |
| Net Interest Income | -5.67M | -13.09M | -9.93M | -12.17M | -10.47M | 3.63M | 3.46M | 2.07M | 1.42M | 5.76M | 5.26M | 5.27M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 74K | 325K | 60K | 288K | 58K | 3.63M | 3.46M | 2.07M | 1.42M | 5.76M | 5.26M | 5.27M | 3.91M | 3.43M | 1M | 3.43M | 3.84M | 979K | 465K | 296.5K |
| Interest Expense | 5.74M | 13.41M | 9.99M | 12.46M | 10.53M | 7.44M | 6.93M | 4.16M | 2.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -5.13M | -12.52M | -10.68M | -13.9M | -8.76M | -3.57M | -3.22M | -1.81M | -1.87M | -16.13M | -2.96M | -12.53M | -2.98M | -4.12M | -3.12M | -9.71M | -5.28M | -2.82M | 219.5K | -1.41M |
| Pretax Income | 6.48M | -4.48M | 7.56M | -1.45M | 7.52M | 5.17M | 4.3M | 3.47M | 841K | -9.97M | -1.43M | -7.07M | -314K | -4.51M | -6.62M | -7.53M | -5.84M | -320.5K | 145K | -3.15M |
| Pretax Margin % | 25.45% | -12.23% | 17.26% | -3.47% | 18.27% | 24.74% | 22.15% | 22.33% | 6.65% | -72.21% | -8.8% | -38.96% | -2.11% | -21.11% | -33.63% | -36.97% | -30.76% | -3.81% | 2.49% | -37.55% |
| Income Tax | 0 | 0 | 0 | -1.74M | 1.74M | 3.21M | 10.86M | 1.15M | 457.5K | 432K | 2.55M | 812.5K | 7.3M | 0 | 5K | 23K | 9K | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 120.13% | 23.18% | 62% | 252.43% | 33.24% | 54.4% | -4.33% | -177.75% | -11.49% | -2323.41% | 0% | -0.08% | -0.31% | -0.15% | 0% | 0% | 0% |
| Net Income | 6.48M | -4.48M | 7.56M | 292K | 5.77M | 1.97M | -6.56M | 2.31M | 383.5K | -10.41M | -3.98M | -7.88M | -7.61M | -4.51M | -6.62M | -7.56M | -5.85M | -320.5K | 145K | -3.15M |
| Net Margin % | 25.45% | -12.23% | 17.26% | 0.7% | 14.03% | 9.4% | -33.77% | 14.9% | 3.03% | -75.34% | -24.44% | -43.44% | -51.09% | -21.11% | -33.65% | -37.08% | -30.8% | -3.81% | 2.49% | -37.55% |
| Net Income Growth % | -14.27% | - | - | -85.14% | 188.04% | -15.1% | -1810.17% | 122.24% | 109.63% | -31.98% | 47.66% | -74.83% | -14.88% | 40.32% | -13.29% | -2257.88% | -4132.41% | 89.81% | 102.7% | -280.18% |
| Net Income (Continuing) | 6.48M | -4.48M | 7.56M | 292K | 5.77M | 1.97M | -6.56M | 2.31M | 383.5K | -10.41M | -3.98M | -7.88M | -7.61M | -4.51M | -6.62M | -7.56M | -5.85M | -320.5K | 145K | -3.15M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.19M | 1.13M | 0 | 0 | 0 |
| EPS (Diluted) | 3.60 | -9.70 | 16.30 | -130.40 | 6.00 | 59.90 | -369.10 | 139.50 | 23.10 | -628.60 | -130.90 | 0.00 | 0.00 | -297677.84 | -437210.20 | -999999.00 | -999999.00 | -999999.00 | 999999.00 | -999999.00 |
| EPS Growth % | -77.91% | - | - | -317.7% | 101.63% | -57.06% | -1697.84% | 122.19% | 117.65% | - | - | 100% | 100% | 95.35% | 100% | 99.26% | -15399.89% | 99.74% | 100.07% | -586.47% |
| EPS (Basic) | 6.80 | -9.70 | 16.30 | -132.10 | 7.70 | 59.90 | -369.10 | 139.50 | 23.10 | -628.60 | -130.90 | 0.00 | 0.00 | -297677.84 | -437210.20 | -999999.00 | -999999.00 | -999999.00 | 999999.00 | -999999.00 |
| Diluted Shares Outstanding | 1.07M | 462.62K | 462.62K | 179.88K | 275.66K | 32.8K | 17.77K | 16.6K | 16.6K | 16.55K | 30.43K | 0 | 0 | 15 | 15 | 0 | 0 | 0 | 0 | 0 |
| Basic Shares Outstanding | 570.89K | 462.62K | 462.62K | 179.88K | 148.28K | 32.8K | 17.77K | 16.6K | 16.6K | 16.55K | 30.43K | 0 | 0 | 15 | 15 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | - | - | - | 1193.49% | 60.36% | - | - | 38.43% | - | - | - | - | - | - | - | - | - | - | - | - |