TOP SHIPS INC. Files 6-K with Financial Updates

TL;DR

TOP SHIPS INC. 6-K shows updated preferred stock and related party data for H1 2025.

AI Summary

TOP SHIPS INC. filed a 6-K report for the period ending June 30, 2025. The filing includes information related to their financial reporting, specifically referencing Series D Preferred Stock and related party transactions for the periods ending December 31, 2024, and June 30, 2025. It also details non-related party transactions for the first half of 2024.

Why It Matters

This filing provides investors with updated financial information for TOP SHIPS INC., including details on preferred stock and related party transactions, which are crucial for assessing the company's financial health and relationships.

Risk Assessment

Risk Level: low — This is a routine 6-K filing providing financial reporting updates, not indicating any immediate operational or market risks.

Key Numbers

• 2025-06-30 — Reporting Period End (Conformed period of report for the 6-K filing.)
• 2025-10-07 — Filing Date (Date the 6-K was filed with the SEC.)

Key Players & Entities

• TOP SHIPS INC. (company) — Filer of the report
• 0001296484 (company) — Central Index Key for TOP SHIPS INC.
• us-gaap:SeriesDPreferredStockMember (company) — Financial reporting category
• us-gaap:RelatedPartyMember (company) — Financial reporting category
• us-gaap:NonrelatedPartyMember (company) — Financial reporting category

FAQ

Key Financial Figures

• $1.7 m — ed June 30, 2025, revenues increased by $1.7 million, or 4%, compared to the same peri
• $0.8 million — fhire days and reduced their revenue by $0.8 million when compared to the same period in 202
• $0.6 million — m on April 11, 2025 added an additional $0.6 million of revenue. In May 2024 a new time cha
• $15,100 — el Ray (where daily hire increased from $15,100 to $20,500 per day), which resulted in
• $20,500 — re daily hire increased from $15,100 to $20,500 per day), which resulted in an increase
• $0.5 million — h resulted in an increase in revenue of $0.5 million. These increases were offset by the fa
• $0.2 million — 25, leading to a decrease in revenue by $0.2 million for all vessels except M/Y Para Bellvm.
• $0.6 m — vessel operating expenses increased by $0.6 million, or 6%, compared to the same peri
• $3.2 million — months ended June 30, 2024, we incurred $3.2 million of Dry-docking costs due to the schedul
• $2.7 m — Interest and finance costs decreased by $2.7 million, or 21%, compared to the same per
• $1.4 million — ortization of debt discount expenses of $1.4 million relating to the amortization of the Ves
• $0.9 million — , 2025 , interest expenses decreased by $0.9 million for the vessels M/T Eco West Coast, M/T
• $6.9 million — the interest is calculated decreased by $6.9 million. In the six months ended June 30, 2024
• $0.3 million — the amortization of finance charges of $0.3 million of the HSBC Bridge Loan that was repaid
• $0.1 million — , 2025 , interest expenses decreased by $0.1 million for the vessels M/T Julius Caesar and M

Filing Documents

• ef20050406_6k.htm (6-K) — 887KB
• 0001140361-25-037499.txt ( ) — 5123KB
• tops-20250630.xsd (EX-101.SCH) — 55KB
• tops-20250630_cal.xml (EX-101.CAL) — 56KB
• tops-20250630_def.xml (EX-101.DEF) — 228KB
• tops-20250630_lab.xml (EX-101.LAB) — 580KB
• tops-20250630_pre.xml (EX-101.PRE) — 334KB
• ef20050406_6k_htm.xml (XML) — 620KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. TOP SHIPS INC. (registrant) Dated: October 7, 2025 By: /s/ Evangelos J. Pistiolis Evangelos J. Pistiolis Chief Executive Officer 4 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025 The following management's discussion and analysis is intended to discuss our financial condition, changes in financial condition and results of operations for the six months ended June 30, 2024 and 2025, and should be read in conjunction with our historical unaudited interim condensed consolidated financial statements and related notes included in this filing. For additional background information, please see our annual report on Form 20-F for the year ended December 31, 2024 filed with the SEC on April 14, 2025. This discussion contains forward-looking statements that reflect our current views with respect to future events and financial performance. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, such as those set forth in the section "Risk Factors" included in our Annual Report on Form 20-F filed with the SEC on April 14, 2025. Overview We are an international owner and operator of modern, fuel efficient eco tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. As of June 30, 2025, our fleet consisted of one 50,000 dwt product/chemical tanker, the M/T Eco Marina Del Ray, five 159,000 dwt Suezmax tankers, the M/T Eco Bel Air, M/T Eco Beverly Hills, M/T Eco West Coast, M/T Eco Malibu and M/T Eco Oceano CA, and two 300,000 dwt VLCC tankers the M/T Julius Caesar and M/T Legio X Equestris. We also own 50% interests in two 50,000 dwt product/c

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View this 6-K filing on SEC EDGAR