Exhibit 99.1 INDEX TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF ICON ENERGY CORP. | Interim Consolidated Balance Sheets as of June 30, 2025 (unaudited) and December 31, 2024 (audited) | 2 | | --- | --- | | Unaudited Interim Consolidated Statements of (Loss)/Income for the six-month periods ended June 30, 2025 and 2024 | 3 | | Unaudited Interim Consolidated Statements of Changes in Shareholders' Equity for the six-month periods ended June 30, 2025 and | 4 | | 2024 | | | Unaudited I ...

Exhibit 99.1 INDEX TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF ICON ENERGY CORP. | Interim Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31, 2024 (audited) | 2 | | --- | --- | | Unaudited Interim Consolidated Statements of (Loss)/Income for the three-month periods ended March 31, 2025 and 2024 | 3 | | Unaudited Interim Consolidated Statements of Changes in Shareholders' Equity for the three-month periods ended March 31, 2025 | 4 | | and 2024 | | | Unau ...

ATHENS, Greece, June 24, 2025 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon” or the “Company”) (Nasdaq: ICON), an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, is pleased to announce the successful delivery of the M/V Charlie to its fleet. Delivery. On June 21, 2025, Icon took delivery of the M/V Charlie, a 2020-built, scrubber-fitted, eco Ultramax dry bulk carrier, it had agreed to bareboat charter-in from an una ...

Market Conditions - The Baltic Dry Index (BDI) has shown significant volatility, declining from an all-time high of 11,793 in May 2008 to a low of 290 in February 2016, representing a decline of approximately 98%[34] - The BDI ranged from a low of 976 on December 19, 2024, to a high of 2,419 on March 18, 2024, with a current value of 1,300 as of April 23, 2025[34] - The ongoing war between Russia and Ukraine has caused instability in energy markets and significant volatility in commodity prices, adversely affecting shipping freight rates[60] - The economic conditions in China and the Asia Pacific region may continue to experience volatile or negative growth, impacting the demand for shipping services[50] - Global financial markets are experiencing volatility, with risks associated with changes in interest rates and instability in banking and securities markets, which may impair the ability to borrow[51] Financial Performance Risks - The company is currently dependent on index-linked charters, which may adversely affect its financial performance if spot freight charter rates decline[39] - An over-supply of dry bulk vessel capacity may depress charter rates and vessel values, adversely affecting the company's financial results[42] - The company relies on a limited number of customers for a significant portion of its revenue, which poses a risk to its financial stability[31] - The company is exposed to fluctuations in interest rates, including volatility of SOFR, which could impact its financial condition[33] - The company may face challenges in accessing credit and capital markets, which could affect its ability to operate and grow[33] Geopolitical and Regulatory Risks - The company faces risks from geopolitical events, including the ongoing war in Ukraine and tensions in the Middle East, which could negatively impact its business and financial condition[46] - Significant tariffs announced by President Trump include a 34% tax on imports from China, 20% on products from the E.U., and a baseline 10% tax on imports from many countries, which could adversely affect operating results and cash flows[53] - The U.S. Trade Representative has enacted fees targeting Chinese owners and operators, calculated at a rate of $50 per net ton for each port entrance beginning October 14, 2025, increasing to $140 per net ton in 2028[68][69] - The potential for further economic sanctions related to the war in Ukraine could disrupt operations and negatively impact financial condition[61] - The company is subject to evolving sanctions and embargo laws, which could result in fines or penalties and adversely affect its business operations[96] Environmental and Compliance Challenges - The IMO has set a target to reduce CO2 emissions from international shipping by at least 40% by 2030 compared to 2008 levels[81] - Compliance with new greenhouse gas regulations may incur substantial implementation and compliance costs, adversely affecting financial results[83] - The EU Emissions Trading Scheme will require compliance starting January 2024, with significant costs associated with purchasing emissions allowances[85] - The company may face increased costs due to stricter sulfur content standards in designated Emission Control Areas, effective from January 1, 2015[84] - The company has installed approved Ballast Water Treatment Systems (BWTS) on its vessels to comply with updated guidelines, but further regulations may incur additional compliance costs[104] Operational Risks - The company faces risks from operating ocean-going vessels, including mechanical failures and geopolitical events, which could increase costs or lower revenues[65] - The company may experience operational disruptions due to public health threats, such as pandemics, which could materially affect business performance[55] - Increased inspection procedures and tighter import/export controls could lead to higher operational costs and disrupt business[106] - Acts of piracy have increased, particularly in regions like the Gulf of Guinea and the South China Sea, posing risks to vessel operations and insurance costs[107] - Maritime claims could lead to vessel arrests, interrupting cash flows and requiring significant payments to resolve[111] Financial Structure and Governance - The company operates as a holding entity, relying on its wholly owned subsidiaries to distribute funds for financial obligations and potential dividends[152] - The company maintains cash with a limited number of financial institutions, exposing it to credit risk, particularly in Greece[149] - The company is classified as an "emerging growth company" and has opted out of certain financial accounting standards, which may affect the attractiveness of its Common Shares to investors[187] - The company incurs significant legal, accounting, and compliance costs due to its public listing in the U.S., which were not present as a private entity[189] - The Chairwoman and CEO controls 99.9% of the voting power due to ownership of Series B Preferred Shares, limiting the influence of other shareholders[214] Shareholder Considerations - The market price of the company's Common Shares is subject to significant fluctuations due to various factors, including seasonal variations and changes in market valuations[207] - The company may issue additional Common Shares in the future, which could dilute existing shareholders and affect the market price of its securities[201] - Holders of Series A Preferred Shares have priority over Common Shares regarding dividends, which may limit dividend payments to Common Shareholders[213] - The multi-class share structure concentrates voting control with the Chairwoman, limiting the ability of other shareholders to influence corporate matters[221] - Anti-takeover provisions in the company's bylaws may hinder shareholders' ability to change the Board of Directors or prevent favorable mergers[218]

Financial Highlights for the Reporting Period Operational Highlights Icon Energy Corp. Reports Financial Results for the Year Ended December 31, 2024, and Declares Cash Dividend of $0.07 per Common Share Athens, Greece, April 23, 2025 (GLOBE NEWSWIRE) — Icon Energy Corp. ("Icon" or the "Company") (Nasdaq: ICON), an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, (i) reports financial results for the year ended ...

ATHENS, Greece, April 23, 2025 (GLOBE NEWSWIRE) -- Icon Energy Corp. ("Icon" or the "Company") (Nasdaq: ICON), an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, (i) reports financial results for the year ended December 31, 2024, (the "Reporting Period") and (ii) declares cash dividend of $0.07 per common share. All share and per share amounts disclosed in this earnings release give retroactive effect, for all ...

Core Viewpoint - Icon Energy Corp. announced a 1-for-40 reverse stock split effective April 1, 2025, to comply with Nasdaq listing requirements and improve its stock price [1][4][9]. Corporate Matters Update - On January 24, 2025, the company closed a public offering of units worth $12.0 million, which included common shares and warrants [2]. - As of March 27, 2025, 99.99% of the warrants from the offering have been exercised [3]. Reverse Stock Split Details - The reverse stock split will convert every 40 outstanding common shares into 1 share, effective April 1, 2025, under the existing trading symbol "ICON" [4][5]. - The new CUSIP number for the common shares post-split will be Y4001C 206 [4]. - The total number of outstanding common shares will decrease from 87,410,311 to approximately 2,185,257, adjusted for fractional shares [10]. Compliance and Listing Status - The company received a notification from Nasdaq on March 7, 2025, regarding non-compliance due to the closing bid price being below $1.00 for 30 consecutive trading days [6]. - The company has until September 3, 2025, to regain compliance, with a potential additional grace period if other listing standards are met [6][9]. - The closing bid price has been at or below $0.10 for six consecutive trading days, prompting the board to implement the reverse stock split to maintain Nasdaq listing [8]. Purpose of the Reverse Stock Split - The reverse stock split aims to increase the market price of the common shares, maintain compliance with Nasdaq rules, and regain compliance with listing standards [9].

Core Viewpoint - Icon Energy Corp. has entered into a definitive agreement to charter-in a modern dry bulk carrier, the M/V Charlie, which is expected to enhance its operational capacity and revenue generation capabilities [1][4]. Group 1: Agreement Details - Icon has signed a bareboat charter-in agreement for a 2020-built, scrubber-fitted, Eco, Ultramax dry bulk carrier with a carrying capacity of 63,668 dwt [1]. - The company has made an advance payment of $2.75 million and will pay an additional $2.75 million upon delivery, followed by a hire rate of $7,500 per day over a three-year charter period [2]. - At the end of the charter period, Icon has the option to purchase the vessel for $18.0 million [2]. Group 2: Charter Employment - Icon has secured a time charter for the M/V Charlie with a reputable dry bulk operator for a period of 9 to 12 months, with a floating daily hire rate linked to the Baltic Supramax Index [3]. - In addition to the daily hire rate, Icon will receive part of the fuel cost savings realized by the charterer through the vessel's scrubber [3]. Group 3: Strategic Implications - The addition of the M/V Charlie is expected to expand Icon's operational capacity and strengthen its ability to serve customers [4]. - The vessel is anticipated to commence generating revenue immediately upon delivery, leveraging existing industry relationships [4].

Core Viewpoint - Icon Energy Corp. has received a notification from Nasdaq regarding non-compliance with listing rules due to its common shares trading below $1.00 for 30 consecutive days, with a grace period of 180 days to regain compliance [1][2][3] Compliance Status - The company is compliant with all other Nasdaq Capital Market continued listing standards and has until September 3, 2025, to regain compliance with the $1.00 share price requirement [2] - If the company does not regain compliance within the grace period but meets other listing standards, it may be eligible for an additional 180-day grace period [2] Share Price Recovery - The company can cure the deficiency by maintaining a closing bid price of $1.00 or higher for at least 10 consecutive trading days during the grace period [3] - The company's common shares will continue to be listed and trade on the Nasdaq Capital Market during this time [3] Upcoming Shareholder Meeting - The 2025 Annual Meeting of Shareholders is scheduled for March 17, 2025, with a Notice of Meeting and Proxy Statement sent to shareholders [4] - Proposals to be voted on include the election of a director, ratification of independent auditors, and authority for the board to approve reverse stock splits if deemed necessary [5][7] Proposals Overview - Proposal One: Election of Spiros Vellas as a Class I Director until the 2028 Annual Meeting [7] - Proposal Two: Ratification of Ernst & Young (Hellas) as independent auditors for the fiscal year ending December 31, 2025 [7] - Proposal Three: Authority for the board to approve reverse stock splits to maintain Nasdaq listing [5][7]

Public Offering Details - Icon Energy Corp closed its public offering of 9,160,305 units at a price of $1.31 per unit, with each unit consisting of one common share and one warrant to purchase one common share [1] - The gross proceeds from the offering were $12.0 million before deducting placement agent's fees and other offering expenses [2] - The net proceeds will be used for general corporate purposes, including working capital needs, debt repayments, and fleet expansion [2] Offering Structure and Participants - The common shares and warrants were purchased together but issued separately and were immediately separable upon issuance [2] - Maxim Group LLC acted as the sole placement agent for the offering [3] Regulatory and Legal Information - A registration statement on Form F-1 was filed with the SEC and declared effective on January 23, 2025 [4] - The final prospectus related to the offering was filed with the SEC and is available on the SEC's website [4] Company Overview - Icon Energy Corp is an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels [6] - The company maintains its principal executive office in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol "ICON" [6] Forward-Looking Statements - The company's forward-looking statements are based on various assumptions, including historical operating trends and data from third parties, but actual results could differ materially due to risks and uncertainties [6] - Factors that could cause actual results to differ include future operating or financial results, liquidity, changes in shipping industry trends, and broader market impacts from war or pandemics [7]