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 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

Earnings data Q3 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.

Ocean Power Technologies (OPTT) achieves record revenue and eyes profitability in Q4 2025

Ocean Power Technologies (OPTT) reported strong financial performance in Q2 2025, with record revenue and reduced net losses. Strategic partnerships and market expansion efforts are driving growth, positioning the company for profitability by Q4 2025. Analysts see opportunities in global expansion and recurring revenue models for OPTT.

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

Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has received a $1.2 million grant award from the New Jersey Economic Development Authority (NJEDA). The company, in a statement, highlighted that the grant programme is designed to assist technology and life sciences businesses in New Jersey, and, it enables these companies to convert a portion of their net operating losses and unused research and development (R&D) tax credits into cash, by selling them to unrelated profitable corporations.

Ocean Power Technologies receives $1.2mln grant in New Jersey

MONROE TOWNSHIP, N.J., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has been awarded approximately $1.2 million under the New Jersey Economic Development Authority (NJEDA) 2023 Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) Program.

Ocean Power Technologies Announces $1.2 million award from the New Jersey Economic Development Authority (NJEDA) Net Operating Loss (NOL) Program

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 that both leading, independent proxy advisory firms – Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”) – have now recommended that the Company's shareholders vote ONLY on the WHITE proxy card “FOR” all of the OPT Board of.

Both Leading Independent Proxy Advisory Firms – ISS and Glass Lewis – Now Recommend Voting ONLY on the WHITE Proxy Card “FOR” All of Ocean Power Technologies Board Nominees

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 that Glass, Lewis & Co., LLC (“Glass Lewis”), a leading independent proxy advisory firm, has joined Institutional Shareholder Services Inc. (“ISS”) in recommending that the Company's shareholders vote ONLY on the WHITE proxy card “FOR” all of the OPT Board of Dire.

Leading Independent Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote ONLY on the WHITE Proxy Card “FOR” All of Ocean Power Technologies Board Nominees

EASTON, PA / ACCESSWIRE / January 25, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.8% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), is urging shareholders to carefully evaluate OPT's track record of dishonesty and vote Paragon's BLUE proxy card to send a message to the OPT board. Paragon believes that the OPT board has conducted the most shameless and desperate campaign of entrenchment, instead of fulfilling their duties to shareholders to conduct a fair and lawful annual meeting.

Paragon Calls Out OPT's Shameless and Desperate Campaign of Entrenchment; Urges Shareholders to Carefully Evaluate OPT's Track Record of Dishonesty

EASTON, PA / ACCESSWIRE / January 22, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.8% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), asks shareholders to disregard misleading statements from OPT about your vote not counting on the BLUE proxy card. Your vote does count.

Paragon Calls Out OPT's Inaccurate Statements About Voting on the Blue Proxy Card; Vote the Blue Proxy Card and Put an End to the Corporate Greed and Drowning Share Price

OPT Urges All Holders to Vote ONLY on the WHITE Proxy Card Today “ FOR ” All the Company's Board Nominees and Other Proposals

Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote ONLY on the WHITE Proxy Card “FOR” All of Ocean Power Technologies Board Nominees

EASTON, PA / ACCESSWIRE / January 18, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.8% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), calls on CEO Phillip Stratmann to immediately substantiate his misleading statements about OPT's future made in the Company's January 17, 2024 press release. Mr.

Paragon Urges OPT Shareholders to Disregard CEO Phillip Stratmann's Continued Misleading Statements and Calls on Mr. Stratmann to Substantiate His Claims to Shareholders

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) said it has completed several previously announced milestones and initiatives, including reallocation of headcount towards commercialization that it believes will enhance shareholder value.  The provider of ocean energy and intelligent data services said it now has fully commercialized customer solutions, a robust pipeline, and several recent commercial wins, with expectations of achieving profitability in calendar year 2025.

Ocean Power Technologies reveals commercialization progress; sees profitability in 2025

Company is Well-Positioned to Drive Shareholder Value Creation in Post-R&D Phase, With Fully Commercialized Solutions and Robust Pipeline Company is Well-Positioned to Drive Shareholder Value Creation in Post-R&D Phase, With Fully Commercialized Solutions and Robust Pipeline

Ocean Power Technologies Announces Progress on Shift to Commercialization and Expects to Achieve Profitability in Calendar Year 2025

EASTON, PA / ACCESSWIRE / January 4, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, and the largest shareholder of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), reminds OPT shareholders to DISREGARD any WHITE proxy from OPT and issued the following presentation on how to vote the BLUE proxy card below. https://storage.googleapis.com/accesswire/media/821746/pr16opt.pdf Please email us at ir@pgntgroup.com with any questions about how to vote your BLUE proxy card.

Paragon Technologies Issues Presentation to OPT Shareholders to Vote Blue Proxy Card

EASTON, PA / ACCESSWIRE / December 28, 2023 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, and the largest shareholder of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), would like to thank shareholders for their overwhelming support so far. We also want to remind shareholders to ONLY VOTE the BLUE proxy card that is being mailed to them and disregard the WHITE proxy card mailed by the Ocean Power Technologies.

Paragon Reminds OPT Shareholders to ONLY Vote Blue Proxy and Send Message to OPT Board that Change is Needed to Avoid Continued Shareholder Losses

Expresses Serious Concerns About OPT's alarming financial and Stock Price Underperformance Under the Current Board and CEO. Believes that the Board and CEO Are Misleading Shareholders by Making Positive Statements About the Future of Ocean Power While the Company Appears Likely to Run Out of Capital in 2024 Believes Ocean Power Could be Worth +$3 a Share, or 10x Return with an Improved Operating Cost Structure, Disciplined Capital Allocation, and Focus on Marine Advance Robotics Expresses Grave Concerns that the Board's Actions to Insulate their Board Seats and Deny Shareholders the Right to Vote for Outside Qualified Directors Has Cost Ocean Power Millions of Dollars and Puts OPT at Risk in 2024 EASTON, PA / ACCESSWIRE / December 21, 2023 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company owning approximately 4.9% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), issued the following statement to the stockholders of Ocean Power Technologies: Dear Ocean Power Technologies Stockholder: We are writing to our fellow stockholders today because we believe that OPT's board of directors (the "Board") is not acting with the sort of urgency required to address the Company's dire situation.

Paragon Technologies Issues Statement to the Stockholders of Ocean Power Technologies. Reminds Stockholders to Vote ONLY the Blue Proxy Card

EASTON, PA / ACCESSWIRE / December 18, 2023 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.9% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), today mailed out its BLUE proxy card to OPT shareholders and issued the following letter: To the Stockholders of Ocean Power Technologies: While I realize most of you have endured significant and consistent losses holding OPT shares, I along with my director nominees believe there is an enormous opportunity to increase stockholder value at OPT if you support Paragon's director nominees by voting the BLUE Proxy Card. We urge you to vote the BLUE Proxy Card no matter how many shares you own.

Paragon Technologies Commences Mailing of BLUE Proxy Card and Issues Letter to Ocean Power Technologies Shareholders

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q2 2024 Earnings Conference Call December 14, 2023 9:00 AM ET Company Participants Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Philipp Stratmann - President, CEO Bob Powers - SVP, CFO Conference Call Participants Shawn Severson - Water Tower Research Operator Good morning, and welcome to the Ocean Power Technologies Second Quarter Fiscal Year 2024 Earnings Conference Call. The webcast of this call is also available and can be accessed by a link on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q2 2024 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) told investors it expects to be cashflow positive in calendar year 2025 after reporting second-quarter results that show strong progress with its strategy. The company, a provider of ocean energy and intelligent data services, said its pipeline amounted to roughly $93 million at the end of October, a 221% year-over-year increase from a year earlier.

Ocean Power reports buoyant 2Q pipeline as it targets positive cash flow in 2025

MONROE TOWNSHIP, N.J., Dec. 13, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal second quarter ended October 31, 2023 (“Q224”), including year-over-year revenue, gross profit, and pipeline growth.

Ocean Power Technologies, Inc. Announces Second Quarter Fiscal 2024 Results

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) told investors that it is executing its commercialization-focused strategy as it moves away from the research and development related to its marine power, data, and service solutions. In a letter to shareholders ahead of its Annual Meeting of Stockholders to be held on January 31, 2024, OPT told investors to vote on the white proxy card to support the company's proposals, which it said would allow its leadership team to continue delivering on its strategy.

Ocean Power Technologies seeks investor support at upcoming annual meeting

EASTON, PA / ACCESSWIRE / December 13, 2023 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.9% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), calls out OPT's recent contract award press releases in response to Paragon's criticism of the financial mismanagement of OPT as yet another attempt to divert shareholder attention from the degrading financial condition of the Company. When Paragon expressed its grave concerns to the OPT Board regarding the Company's alarming financial losses and rapid decline in shareholder value, Paragon requested that its three directors be part of OPT's six-member Board, thus contributing an equal voice on the Board.

RETRANSMISSION: Paragon Calls Out Ocean Power's Contract Award Announcements in Response to Paragon's Campaign as Too Little, Too Late

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 sent a letter to shareholders in connection with the Company's upcoming Annual Meeting of Stockholders (the “2023 Annual Meeting”), which is scheduled to be held on Wednesday, January 31, 2024, via live webcast. The full text of the letter is below: Dear Fellow Shareholders, Th.

Ocean Power Technologies Sends Letter to Shareholders Highlighting Continued Execution of Company's Value-Enhancing Strategy

Paragon Calls Out Ocean Power's Contract Award Announcements in Response to Paragon's Campaign as Too Little, Too Late

Ocean Power Technologies Inc (NYSE-A:OPTT)' win of a $6.5 million contract to provide multiple maritime domain awareness buoys to a U.S. government contractor underpins the opportunities in front of the company, its CEO says. “We've been focusing on setting ourselves up to successfully supply the government, defence and security markets and our ability to deliver for those customers is going to help with other contracts in the space,” Ocean Power CEO Philipp Stratmann told Proactive in a recent interview.

Ocean Power Technologies $6.5M contract win for maritime domain awareness technology to open doors to other opportunities

Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has received a letter contract from a US-based prime contractor with a $6.5 million ceiling to provide multiple maritime domain awareness buoys to strengthen maritime surveillance efforts The collaboration with the prime contractor will focus on providing multidomain marine solutions in support of US government agencies, OPT said in a statement. The company's PowerBuoys will play a pivotal role in enhancing surveillance capabilities above and below the waterline, contributing significantly to maritime domain awareness initiatives.

Ocean Power Technologies secures contract worth up to $6.5M to bolster maritime domain awareness for US government agencies

MONROE TOWNSHIP, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has received a letter contract from a US based prime contractor for multiple maritime domain awareness buoys advancing our commitment to national security and intelligence.

Ocean Power Technologies Secures a Multi-Buoy Letter Contract with a $6.5M Ceiling to Bolster Maritime Domain Awareness for US Government Agencies

EASTON, PA / ACCESSWIRE / December 8, 2023 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company, owning approximately 4.9% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company") ("OPT"), reminds OPT shareholders to vote the BLUE proxy and disregard any materials from OPT. Unless a complete overhaul of the OPT Board happens NOW, we believe the share price of OPT is headed towards ZERO in 2024.

News for Ocean Power Technologies Stock (OPTT)