OceanPal Inc. (OP) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
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OP Revenue Growth
Revenue Breakdown (FY 2024)
OP's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
OP Revenue Analysis (2019–2024)
As of May 8, 2026, OceanPal Inc. (OP) generated trailing twelve-month (TTM) revenue of $19.4 million, reflecting significant decline in growth of -54.3% year-over-year. The most recent quarter (Q2 2025) recorded $3.1 million in revenue, up 0.0% sequentially.
Looking at the longer-term picture, OP's 5-year compound annual growth rate (CAGR) stands at +15.7%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $25.7 million in 2024, representing a new all-time high.
Revenue diversification analysis shows OP's business is primarily driven by Tanker Segment (100%). With over half of revenue concentrated in Tanker Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including SBLK (-17.6% YoY), GNK (+30336.5% YoY), and NMM (-1.3% YoY), OP has underperformed the peer group in terms of revenue growth. Compare OP vs SBLK →
OP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| OPCurrent | $19M | -54.3% | +15.7% | -70.2% | |
 SBLK | $1.0B | -17.6% | +8.5% | 13.5% | |
 GNK | $342M | +30336.5% | -0.8% | 2.7% | |
 NMM | $1.3B | -1.3% | +43.5% | 33.6% | |
 SB | $308M | -13.7% | +9.2% | 36.4% | |
 DSX | $228M | -5.4% | +0.7% | 25.8% |
OP Historical Revenue Data (2019–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $25.7M | +35.6% | $2.3M | 9.0% | $-18,045,000 | -70.2% |
| 2023 | $19.0M | -0.7% | $5.5M | 29.2% | $-7,722,000 | -40.7% |
| 2022 | $19.1M | +1330.7% | $8.5M | 44.7% | $-326,000 | -1.7% |
| 2021 | $1.3M | -85.8% | $926K | 69.4% | $134K | 10.0% |
| 2020 | $9.4M | -23.9% | $-65,099 | -0.7% | $-3,796,000 | -40.3% |
| 2019 | $12.4M | - | $5.2M | 42.4% | $-1,863,000 | -15.1% |
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Start ComparisonOP — Frequently Asked Questions
Quick answers to the most common questions about buying OP stock.
Is OP's revenue growth accelerating or slowing?
OP revenue declined -54.3% year-over-year, contrasting with the 5-year CAGR of +15.7%. TTM revenue fell to $19M. This reverses the prior growth trend.
What is OP's long-term revenue growth rate?
OceanPal Inc.'s 5-year revenue CAGR of +15.7% reflects the variable expansion pattern. Current YoY growth of -54.3% is below this long-term average.
How is OP's revenue distributed by segment?
OP reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.