OceanPal (NASDAQ:SVRN), a company historically focused on the dry bulk shipping sector, today reported its financial results for the full year ended December 31, 2025.
The results reflect a transformational period as the company executed a strategic pivot away from traditional maritime operations and toward the decentralized technology sector via its newly formed subsidiary, SovereignAI Services.
For the full year 2025, OceanPal reported total revenue of $14.1 million.
The company recorded a substantial net loss of $65.2 million, largely driven by one-time costs associated with its corporate restructuring and the aggressive reallocation of capital into digital infrastructure.
As of December 31, 2025, OceanPal maintained a cash position of $33.2 million and reported $77.5 million in digital assets, primarily consisting of approximately 51.3 million NEAR tokens held within the SovereignAI treasury.
The formation of SovereignAI Services marks the company's entry into the NEAR Protocol ecosystem, where it intends to leverage its treasury to support decentralized AI services and infrastructure.
This shift represents a fundamental change in the company's risk profile and asset base, moving from physical shipping vessels to a treasury-heavy model focused on blockchain-based digital assets.
Looking ahead to fiscal 2026, OceanPal provided a wide range of financial guidance that is heavily sensitive to the performance of the digital asset market.
The company forecasts positive segment EBITDA for its core operations, while consolidated adjusted EBITDA is projected to range from a loss of $1.1 million to a gain of $14.4 million.