Ocean Power Technologies

Ocean Power Technologies, Inc. engages in commercializing proprietary systems that generate electricity predominantly by harnessing the renewable energy of ocean waves. It offers PB3 PowerBuoy, which generates electricity by harnessing the renewable energy of ocean waves. It operates through the following geographical segments: North and South America, Europe, and Asia and Australia. The company was founded by George W. Taylor on April 19, 1984 and is headquartered in Monroe Township, NJ.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Ocean Power Technologies reports fiscal growth amidst shareholder challenges

Ocean Power Technologies (OPTT) showcased technological achievements and strategic partnerships in fiscal 2024 despite financial challenges from a dissident shareholder.
With a focus on achieving profitability by the second half of calendar 2025, OPTT aims to leverage cost optimization and operational efficiencies for future success.
Dr. Stratmann's emphasis on growth trajectory, market opportunities, and shareholder value underscores OPTT's commitment to driving innovation and value creation.

Ocean Power Technologies (OPTT) reports strong Q1 results and advances in renewable energy technology

Ocean Power Technologies (OPTT) delivered improved financial performance in Q1 '25 with revenue growth, cost reductions, and a strengthened backlog, signaling positive momentum.
The company's focus on innovation, strategic partnerships, and operational efficiency positions it well for future growth and market leadership in the renewable energy sector.
While OPTT faces challenges in maintaining profitability and cash flow, opportunities lie in leveraging its technological advancements and market demand to drive sustainable growth.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

MONROE TOWNSHIP, N.J., July 09, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed a Memorandum of Understanding (MOU) with AltaSea at the Port of Los Angeles (AltaSea).

Ocean Power Technologies Signs Agreement with AltaSea to Advance Wave Power Projects

Ocean Power Technologies Inc (NYSE-A:OPTT) has inked a reseller agreement with Survey Equipment Services Inc (SES), a specialist in the supply of marine survey and navigation equipment. It will see OPT supply to SES its unmanned surface vehicles (USV), branded as ‘WAM-Vs', for distribution in the United States.

Ocean Power Technologies shares gain following team up with SES

Ocean Power Technologies teams up with SES to accelerate revenue growth

MONROE TOWNSHIP, N.J., July 08, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, is pleased to announce the signing of a reseller agreement with Survey Equipment Services, Inc. (“SES”) a specialist in the supply of Marine Survey and Navigation equipment.

Ocean Power Technologies Signs Reseller Agreement with Survey Equipment Services for the USA

Roadzen Inc

Zapp Electric Vehicles Group Ltd

Investing in penny stocks can be a lucrative venture for those who understand how to navigate financial statements effectively. Penny stocks, often priced under $5 per share, provide opportunities for significant returns on investment, but they require careful analysis and a strategic approach to financial statements.

Reading Penny Stocks Financial Statements, 3 Tips

Maritime solutions and services provider Ocean Power (NYSEMKT: OPTT ) – which does business as OPT – announced a partnership with Unique Group. Based in the United Arab Emirates (UAE), Unique is a global innovator in subsea technologies and engineering but delivers products and services for several industries.

Why Is Ocean Power (OPTT) Stock Up 80% Today?

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has partnered with Unique Group to deploy its WAM-V Unmanned Surface Vehicles (USVs) in the Middle East. Investors welcomed the news, sending shares of OPT about 60% higher to US$0.45 in early trade on Tuesday.

Ocean Power Technologies shares soar on Unique Group partnership

It's been a significant week for intelligent maritime solutions and services provider Ocean Power Technologies Inc (NYSE-A:OPTT). It announced the signing of an Original Equipment Manufacturer (OEM) agreement with Teledyne Marine, a division of maritime technology provider Teledyne Technologies, which is set to enhance its product offerings and drive innovation.

Ocean Power Technologies CEO discusses new US government contract, growth strategy - ICYMI

Teledyne Technologies

Ocean Power Technologies Inc (NYSE-A:OPTT) announced the signing of an Original Equipment Manufacturer (OEM) agreement with Teledyne Marine, a division of maritime technology provider Teledyne Technologies. The provider of intelligent maritime solutions and services said the strategic partnership seeks to enhance its product offerings and drive innovation within the industry, providing customers with a turnkey system.

Ocean Power Technologies and Teledyne Marine partner to drive maritime innovation

OPT signs OEM deal with Teledyne Marine to expand AI sensor capabilities and drive innovation in marine technology. Enhancing product offerings and growth.

Ocean Power Technologies Signs OEM Agreement with Key Maritime Technology Provider Teledyne Marine

Proprietary power platform Ocean Power Technologies (NYSEMKT: OPTT ) — one of the few specialists in wave power or harnessing the natural oscillations of the ocean for conversion into usable power — saw its shares soar on Wednesday. A U.S. government contract effectively provided a much-needed credibility boost for OPTT stock, which previously struggled badly.

Why Is Ocean Power Technologies (OPTT) Stock Up 60% Today?

Ocean Power Technologies Inc (NYSE: OPTT) witnessed a remarkable surge of 70% on Wednesday following its announcement of a preliminary deal.  The company revealed its success in securing a sole source contract award for multiple WAM-Vs, which are set to be delivered to a department of the US Government.

Ocean Power stock soars after WAM-V deal with the US government

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has reached an agreement in principle on a sole source contract award for multiple WAM-Vs for delivery to a US government department. Shares of OPT surged premarket on the announcement, adding more than 30% shortly before US markets opened on Wednesday.

Ocean Power Technologies unveils contract to deliver multiple WAM-Vs to US government department

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has been selected as preferred supplier for a PowerBuoy equipped with its AI-Maritime Domain Awareness Solutions Merrows for immediate delivery for an opportunity in the Middle East.   The provider of intelligent maritime solutions and services said the contract, once finalized, will generate revenues in the current quarter.

Ocean Power Technologies named preferred supplier for Merrow buoy in the Middle East

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the launch of its Global 24/7 Service Support which will offer its customers round-the-clock support.  The provider of intelligent maritime solutions and services said the new offering will allow its customers to access 24/7 support to maintain their operations around the globe.

Ocean Power Technologies expands services with new 24/7 global support offering

MONROE TOWNSHIP, N.J., June 17, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has launched its Global 24/7 Service Support (“Services”).

Ocean Power Technologies Launches Global 24/7 Service Support Offering

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it had delivered the first set of new unmanned surface vehicles (USVs) to Sulmara, as part of a previously announced $1.6 million contract. The delivery triggers the commencement of lease payments, OPT said in a statement.

Ocean Power Technologies delivers first unmanned surface vehicles to Sulmara

EASTON, PA / ACCESSWIRE / June 7, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company and a large shareholder of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company" or "OPT"), issues the following statement. On April 28th Paragon announced its willingness to consider investing up to $3 million in non-dilutive preferred equity in OPT.

Ocean Power Fails to Engage in Good Faith with Paragon Creating Going Concern Issues and Risk for the Company and Its Shareholders

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has been awarded a contract for the immediate delivery of a Wave Adaptive Modular Vessel (WAM-V) to an offshore construction contractor. The provider of intelligent maritime solutions and services said the vehicle will provide survey services for an offshore dredging project in Sub-Saharan Africa.

Ocean Power Technologies wins contract for unmanned surface vehicle with offshore construction contractor

MONROE TOWNSHIP, N.J., June 05, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has been awarded a contract for a WAM-V for immediate delivery to an Offshore Construction Contractor.

Ocean Power Technologies Awarded Contract for Immediate Delivery of Unmanned Surface Vehicle to Offshore Construction Contractor

Ocean Power Technologies Inc (NYSE-A:OPTT) recently completed a demonstration of several simultaneously deployed Wave Adaptive Modular Vehicles (WAM-Vs) for a department of the US Government. In addition to triggering immediate revenue, the demonstration showcased the capabilities of the company's technology to both current and future customers.

Ocean Power Technologies CEO talks unmanned surface vehicle demonstration milestone

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the completion of engineering for its Merrows solution to be deployed in hot climates. The company noted that Merrows, an artificial intelligence-powered Maritime Domain Awareness Solution, has integrated lessons from current and previous deployments, including in Bahrain.

Ocean Power Technologies ready to deploy AI solution in hot climates

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it concluded the operation of several simultaneously deployed Wave Adaptive Modular Vehicles (WAM-Vs) for a Department of the US Government, a major contractual milestone with immediate revenue recognition. The provider of innovative and cost-effective low-carbon marine power, data, and service solutions said this milestone builds on other recent multi-system deliveries and contract awards.

Ocean Power Technologies achieves major milestone with WAM-Vs deployment for government department

MONROE TOWNSHIP, N.J., May 28, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed a major contractual milestone and concluded operation of several simultaneously deployed WAM-Vs for a Department of the US Government.

Ocean Power Technologies Completes Operation with Multiple Unmanned Surface Vehicles for US Government

Ocean Power Technologies Inc (NYSE-A:OPTT) has successfully publicly demonstrated capabilities of its counter-unmanned underwater vehicle. Ocean Power said on Tuesday it had showcased the vehicle at events held by the Navy League and Association for Uncrewed Vehicle Systems International.

News for Ocean Power Technologies Stock (OPTT)