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

MONROE TOWNSHIP, N.J., Aug. 14, 2023 (GLOBE NEWSWIRE) -- In a press release issued earlier today by Ocean Power Technologies, Inc. (NYSE American: OPTT), please note the headline has been corrected. Complete corrected text follows.

UPDATE - Ocean Power Technologies, Inc.

MONROE TOWNSHIP, N.J., Aug. 14, 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 that it will report its fiscal 2024 first quarter for the period ended July 31, 2023 results after the market closes on Wednesday September 13, 2023.

Ocean Power Technologies to Report 2023 First Quarter Results on September 13, 2023

EASTON, PA / ACCESSWIRE / August 11, 2023 / Paragon Technologies, Inc. ("Paragon") (OTC:PGNT), a diversified holding company which owns approximately 4.0% of the outstanding shares of Ocean Power Technologies, Inc. ("Company") ("OPT") (OPTT), calls on OPT to REFRAIN from ALL future equity share sales that will dilute shareholders and immediately announce a significant cost cutting plan to demonstrate the Board's commitment to protecting shareholder value. On August 2, 2023 Paragon issued a press release asking OPT to answer critical questions regarding the future viability of the Company in response to OPT's 10-K filing disclosure that the Company has enough cash to last through at least July 31, 2024, or less than one year from today.

Paragon Technologies Calls on Ocean Power Technologies to Refrain from Dilutive Equity Issuances and Immediately Announce a Significant Cost Cutting Plan

EASTON, PA / ACCESSWIRE / August 2, 2023 / Paragon Technologies, Inc. ("Paragon") (OTC:PGNT), which owns approximately 4.0% of the outstanding shares of Ocean Power Technologies ("OPT" or the "Company")(OPTT) calls on the Board of Ocean Power Technologies to clearly and immediately explain to shareholders how the Company will fund its operations for the next fiscal year. On July 28, 2023 OPT filed is 10-K Annual Report with the Securities and Exchange Commission.

Paragon Technologies Asks Board of Ocean Power Technologies to Explain How they Intend to Fund the Company's Operations after July 31, 2024

EASTON, PA / ACCESSWIRE / July 28, 2023 / Paragon Technologies (OTC:PGNT), which owns approximately 4.0% of the outstanding shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), has filed a complaint in the Delaware Court of Chancery to enforce its rights, pursuant to Section 220 of the Delaware General Corporation Law, to inspect the books and records of OPTT (the "Inspection Complaint"). On July 17, 2023, Paragon sent a demand letter (the "Inspection Demand") to OPTT requesting to inspect the Company's books and records for the purpose of investigating apparent wrongdoing and/or mismanagement by OPTT's Board of Directors (the "OPTT Board") and/or members of management, inquiring into the independence of the members of the OPTT Board, assessing possible breaches of fiduciary duty by the Company's directors and officers, and communicating with other OPTT stockholders regarding matters relating to their interests as stockholders.

Paragon Technologies New Release

EASTON, PA / ACCESSWIRE / July 24, 2023 / Paragon Technologies (OTC PINK:PGNT) owns approximately 4.0% of the outstanding shares of Ocean Power Technologies (NYSE American: OPTT). On July 11, OPT issued a response to Paragon's public letter released that morning.

Paragon Technologies Calls on the Board of Ocean Power Technologies to Return Years of Excessive Board Compensation Back to the Company

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) expects its contract orders to more than double to $15 million in the 2024 financial year, the intelligence maritime solutions and services provider highlighted when handing down its latest quarterly results. Analysts at Water Tower Research noted this expected contract growth, which is projected to be driven by the ramp-up of OPT's data-as-a-service (DaaS) line, wave adaptive module vehicle (WAM-V) sales and leases, and consulting business inflows.

Ocean Power Technologies expected to double its order book by the end of 2024

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q4 2023 Earnings Conference Call July 13, 2023 9:00 AM ET Company Participants Joseph DiPietro - Controller, Treasurer, and Principal Accounting Officer Philipp Stratmann - President and Chief Executive Officer Bob Powers - Senior Vice President and Chief Financial Officer Conference Call Participants Shawn Severson - Water Tower Research Robert Silvera - R.E. Silvera & Associates R J Tanner - Tanner Capital Management Operator Good morning and welcome to the Ocean Power Technologies Fourth Quarter and Full Fiscal Year 2023 Earnings Conference Call.

Ocean Power Technologies, Inc. (OPTT) Q4 2023 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has reported significant growth in orders and revenues in its financial results for the fourth quarter (4Q23) and full year ended April 30, 2023. In 4Q23, OPT received total orders of $2.3 million, a notable increase compared to $0.7 million in the same quarter of the previous year.

Ocean Power Technologies reports significant growth in orders and revenues

MONROE TOWNSHIP, N.J., July 12, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal fourth quarter (“4Q23”) and full-year ended April 30, 2023 (“FY23”).

Ocean Power Technologies, Inc. Announces Fourth Quarter Fiscal 2023 Results

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has said the company is committed to driving value sustainably in the best interests of all its shareholders as it sought to fight a proxy contest from Paragon Technologies which has a 3.9% stake in the company. In a statement, OPT expressed disappointment that Paragon had made misleading and distracting public statements regarding its performance and leadership and is now threatening to pursue an expensive proxy contest against OPT.

Ocean Power Technologies responds to threat of proxy contest from Paragon Tachnologies

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--The Board of Directors (the “Board”) of Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in innovative, cost-effective, and autonomous low-carbon marine data, power, and consulting service solutions, today issued the following statement in response to the recent public letter issued by Paragon Technologies, Inc. (“Paragon”) (OTC Pink: PGNT): Our Board and leadership team are committed to driving sustainable value cre.

Ocean Power Technologies Issues Statement in Response to Paragon Technologies

EASTON, PA / ACCESSWIRE / July 11, 2023 / Dear Shareholders of OPT: Paragon Technologies (OTC:PGNT) owns approximately 3.9% of the outstanding shares of Ocean Power Technologies and has become one of the largest, if not the largest, single shareholder in OPT. Paragon is a diversified holding company known for pursuing out of favor, overlooked and misunderstood businesses with opportunities for profitability and sustainability.

Paragon Technologies Calls on Ocean Power Technologies to Defend its 30 Year Record of Consecutive Losses, Precipitous Decline in Shareholder Value, and Entrenchment Tactics to Insulate Board from Accountability

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) said its Board of Directors has adopted a new tax benefits preservation plan in a bid to protect long-term shareholder value by preserving significant tax assets. The company said that the plan was designed to protect and preserve its tax assets primarily associated with net operating loss (NOL) carryforwards that could be potentially utilized in certain circumstances to offset OPT's future taxable income and reduce its federal income tax liability.

Ocean Power Technologies adopts new tax plan to protect shareholder value

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 that its Board of Directors has approved the adoption of a tax benefits preservation plan (or “the plan”) in the form of a Section 382 Rights Agreement. The plan is designed to protect and preserve OPT's tax assets primarily associated with net operating loss carryfor.

OPT Adopts Tax Benefits Preservation Plan to Protect Long-term Shareholder Value By Preserving Significant Tax Assets

MONROE TOWNSHIP, N.J., June 15, 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 that it will report its fiscal 2023 fourth quarter and full-year ended April 30, 2023, results after the market closes on Wednesday, July 12, 2023.

Ocean Power Technologies to Report 2023 Fourth Quarter and Full-Year Results on July 12, 2023

Brandywine Realty

Sirius XM Holdings Inc

Identifying penny stocks that dominate their respective niche markets is an exciting prospect for investors. These particular penny stocks possess significant growth potential due to their strong market position within specialized sectors.

3 Penny Stocks That Are Dominating Their Niche Markets

Enphase Energy

NextEra Energy

Ormat Technologies

Cameco

First Solar

Plug Power

Alternative energy stocks are getting attention as the worldwide push toward renewable energy gains momentum. Amid concerns over the environment, innovative businesses, driving innovation are facilitating this crucial transition.

7 Alternative Energy Stocks to Watch in 2023

TPI Composites

The push toward renewable energy and away from fossil fuel energy continues over concerns about the environment. Companies with and without stocks are creating innovations to address that transition.

3 Energy Stocks That Are Leading the Way in Renewable Energy Innovation

MONROE TOWNSHIP, N.J., April 27, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), a leader in innovative, cost-effective, and autonomous low-carbon marine data, power, and consulting service solutions, today announced Matt Burdyny, Vice President, Global Sales & Marketing, will be participating in the Water Tower Research Fireside Chat Series on April 28, 2023, at 11:00 am ET.

Ocean Power Technologies, Inc. to Participate in Water Tower Fireside Chat Series

Ocean Power Technologies Inc (NYSE-A:OPTT). (OPT) said it will continue to provide its WAM-V 22 Autonomous Surface Vehicle (ASV) asset to a US government agency overseas for its maritime activities through a $0.5 million contract extension.

Ocean Power Technologies extends contract with US government agency overseas

OPT's WAM-V® 22 Autonomous Surface Vehicle (ASV) will Continue Supporting a US Government Agency, Securing Recurring Revenues OPT's WAM-V® 22 Autonomous Surface Vehicle (ASV) will Continue Supporting a US Government Agency, Securing Recurring Revenues

Ocean Power Technologies Signs $0.5M Extension to Provide WAM-V® 22 for ongoing Activities Overseas

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced the successful first test of its next-generation increased power wave energy converter buoy, the Mass-On-Spring-Wave-Energy-Converter (MOSWEC) prototype. The company reported that the operational-sized buoy, deployed offshore in New Jersey, has been performing as expected and has already endured storm conditions at sea.

Ocean Power Technologies deploys next-generation wave energy convertor buoy

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q3 2023 Earnings Conference Call March 14, 2023 9:00 AM ET Company Participants Joseph DiPietro - Corporate Controller and Treasurer Philipp Stratmann - President and CEO Robert P. Powers - SVP and CFO Conference Call Participants Shawn Severson - Water Tower Research Operator Good morning and welcome to the Ocean Power Technologies Third Quarter Fiscal 2023 Earnings Conference Call.

Ocean Power Technologies, Inc. (OPTT) Q3 2023 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced a 52% increase in its fiscal third quarter 2023 revenue to $0.7 million, which was driven by sales of WAM-V autonomous vehicles and an increase in strategic consulting services. The company said total orders for the quarter rose to $0.8 million from $0.7 million during the same period last year.

News for Ocean Power Technologies Stock (OPTT)