Revenue has plummeted to $3.1 million in 2025Q2, while gross margins have deteriorated into negative territory at -3.3%, signaling a fundamental inability to cover the cost of shipping operations.
| Sales/Revenue | 19.43M | 25.7M | 18.96M | 19.09M | 1.33M | 9.41M | 12.37M |
| Revenue Growth % | -12.05% | 35.58% | -0.67% | 1330.66% | -85.83% | -23.92% | - |
| Cost of Goods Sold | 19.31M | 23.39M | 13.42M | 10.56M | 408K | 9.48M | 7.13M |
| COGS % of Revenue | - | 91.02% | 70.79% | 55.33% | 30.58% | 100.69% | 57.65% |
| Gross Profit | 122K | 2.31M | 5.54M | 8.53M | 926K | -65.1K | 5.24M |
| Gross Margin % | 0.63% | 8.98% | 29.21% | 44.67% | 69.42% | -0.69% | 42.35% |
| Gross Profit Growth % | - | -58.32% | -35.04% | 820.63% | 1522.45% | -101.24% | - |
| Operating Expenses | 19.04M | 20.35M | 13.26M | 8.85M | 792K | 3.73M | 4.62M |
| OpEx % of Revenue | - | 79.19% | 69.95% | 46.38% | 59.37% | 39.65% | 37.37% |
| Selling, General & Admin | 6.67M | 6.21M | 6.52M | 3.96M | 901.02K | 2.02M | 809.21K |
| SG&A % of Revenue | - | 24.17% | 34.38% | 20.75% | 67.54% | 21.48% | 6.54% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 3.31M | 14.14M | 6.74M | 4.89M | -109.02K | 1.71M | 3.81M |
| Operating Income | -18.92M | -18.05M | -7.72M | -326K | 134K | -3.8M | -1.86M |
| Operating Margin % | -97.33% | -70.21% | -40.73% | -1.71% | 10.04% | -40.34% | -15.06% |
| Operating Income Growth % | - | -133.68% | -2268.71% | -343.28% | 103.53% | -103.76% | - |
| EBITDA | -11.94M | -10.85M | -52K | 4.57M | 488K | -1.64M | 616.43K |
| EBITDA Margin % | -61.41% | -42.2% | -0.27% | 23.95% | 36.58% | -17.47% | 4.98% |
| EBITDA Growth % | -95.21% | -20759.62% | -101.14% | 836.48% | 129.68% | -366.7% | - |
| D&A (Non-Cash Add-back) | 6.98M | 7.2M | 7.67M | 4.9M | 354K | 2.15M | 2.48M |
| EBIT | -15.46M | -17.75M | -1.07M | -326K | 134K | -3.8M | 1.19M |
| Net Interest Income | 164K | 203K | -405K | 0 | 0 | 0 | 0 |
| Interest Income | 273K | 312K | 504K | 0 | 0 | 0 | 0 |
| Interest Expense | 109K | 109K | 909K | 0 | 0 | 0 | 0 |
| Other Income/Expense | 127K | 183K | 5.75M | 0 | 0 | 0 | 0 |
| Pretax Income | -18.79M | -17.86M | -1.98M | -326K | 134K | -3.8M | -1.86M |
| Pretax Margin % | -96.68% | -69.5% | -10.43% | -1.71% | 10.04% | -40.34% | -15.06% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -18.79M | -17.86M | -1.98M | -326K | 134K | -3.8M | -1.86M |
| Net Margin % | -96.68% | -69.5% | -10.43% | -1.71% | 10.04% | -40.34% | -15.06% |
| Net Income Growth % | -46.39% | -803.49% | -506.44% | -343.28% | 103.53% | -103.76% | - |
| Net Income (Continuing) | -18.79M | -17.86M | -1.98M | -326K | 134K | -3.8M | -1.86M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -62.52 | -66.07 | -95.85 | -429.48 | 26.50 | -2151.85 | -1056.00 |
| EPS Growth % | 0.87% | 31.07% | 77.68% | -1720.66% | 101.23% | -103.77% | - |
| EPS (Basic) | - | -66.07 | -50.57 | -429.48 | 36.85 | -2151.85 | -1056.00 |
| Diluted Shares Outstanding | 300.53K | 298.61K | 134.89K | 6.23K | 2.46K | 1.76K | 1.76K |
| Basic Shares Outstanding | 263.36K | 298.61K | 132.62K | 6.23K | 1.76K | 1.76K | 1.76K |
| Dividend Payout Ratio | - | - | - | - | 1249.8% | - | - |
Persistent operating losses
According to the most recent quarterly filings, Oceanpal Inc experienced a significant revenue decline, with top-line figures falling to $3.1 million in 2025Q2, representing a sharp 54.3% year-over-year contraction that highlights the company's struggle to maintain consistent demand within the volatile marine shipping sector.
The consistent downward trend in revenue suggests that the company is facing structural challenges in securing profitable chartering opportunities. This rapid erosion of the top line complicates efforts to achieve the necessary scale to cover fixed operating costs.
As reported in financial statements, Oceanpal Inc's gross margin has deteriorated into negative territory, reaching -3.3% in 2025Q2, which indicates that the cost of revenue now consistently exceeds the income generated from shipping operations, a stark reversal from previous periods of positive gross profitability.
The inability to maintain positive gross margins suggests that the company's vessel operating expenses are currently misaligned with prevailing market rates. Investors should monitor whether this margin compression is a temporary cyclical outcome or a permanent impairment of the company's competitive pricing power.
Based on Oceanpal Inc's reported figures, the company continues to struggle with high fixed costs, as evidenced by an operating loss of $5.3 million in 2025Q2, which demonstrates a failure to achieve operating leverage even as revenue levels have significantly retreated from their 2024 peaks.
The persistence of high SG&A expenses relative to a shrinking revenue base suggests that the company lacks the operational flexibility to right-size its cost structure. This disconnect between overhead and revenue generation appears to be a primary driver of the ongoing net losses.
Data from recent income statements indicates that Oceanpal Inc's net loss of $5.2 million in 2025Q2, combined with recurring stock-based compensation of $694.5K, raises significant questions regarding the long-term viability of the current business model without external capital injections or a fundamental shift in market conditions.
Short-term observers may focus on the company's inability to generate consistent net income, which has been elusive across most of the last ten quarters. The reliance on non-cash compensation while operating cash flows remain negative warrants further investigation into the company's liquidity runway.
Quick answers to the most common questions about buying SVRN stock.
For fiscal year 2024, Oceanpal Inc (SVRN) reported total revenue of $25.7M. This represents a 107.8% increase compared to $12.4M in 2019.
Oceanpal Inc (SVRN) reported a net loss of $17.9M for the fiscal year ending 2024.
Oceanpal Inc (SVRN) reported an operating income of $-18.0M, resulting in an operating profit margin of -70.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Oceanpal Inc (SVRN) generated $2.3M in gross profit for the year, representing a gross profit margin of 9.0%. This demonstrates the company's core pricing power and production efficiency.