Ocean Power Technologies, Inc.听Announces Fourth Quarter and Full Year Fiscal 2025 Results
Ocean Power Technologies (NYSE American: OPTT) reported its Q4 and full-year fiscal 2025 results, marking significant growth in key metrics. The company achieved a record backlog of $12.5 million, up 158% year-over-year, and a pipeline of $137.5 million, representing an 88% increase from the previous year.
Financial highlights include revenue growth of 6% to $5.9 million for FY25 and a 28% reduction in operating expenses to $23.3 million. The company secured multiple strategic partnerships, including agreements with Remah International Group, Unique Group, and Red Cat Holdings, while expanding its global presence through platform deployments and reseller agreements.
Notable achievements include obtaining a Department of Defense Facility Security Clearance and ISO 9001 certification. The company ended FY25 with $6.9 million in cash and equivalents, compared to $3.3 million at the start of the fiscal year.
Ocean Power Technologies (NYSE American: OPTT) ha riportato i risultati del quarto trimestre e dell'intero anno fiscale 2025, evidenziando una crescita significativa nei principali indicatori. L'azienda ha raggiunto un record di backlog pari a 12,5 milioni di dollari, con un aumento del 158% rispetto all'anno precedente, e un portafoglio ordini di 137,5 milioni di dollari, con un incremento dell'88% rispetto all'anno precedente.
I punti salienti finanziari includono una crescita dei ricavi del 6% a 5,9 milioni di dollari per l'anno fiscale 2025 e una riduzione del 28% delle spese operative a 23,3 milioni di dollari. L'azienda ha siglato diverse partnership strategiche, tra cui accordi con Remah International Group, Unique Group e Red Cat Holdings, espandendo la sua presenza globale tramite implementazioni di piattaforme e accordi con rivenditori.
Tra le realizzazioni pi霉 importanti si annoverano l'ottenimento della certificazione di sicurezza per strutture del Dipartimento della Difesa e la certificazione ISO 9001. L'azienda ha chiuso l'anno fiscale 2025 con 6,9 milioni di dollari in contanti e equivalenti, rispetto ai 3,3 milioni di inizio anno fiscale.
Ocean Power Technologies (NYSE American: OPTT) report贸 sus resultados del cuarto trimestre y del a帽o fiscal completo 2025, mostrando un crecimiento significativo en m茅tricas clave. La compa帽铆a alcanz贸 un r茅cord de cartera de pedidos de 12,5 millones de d贸lares, un aumento del 158% interanual, y una cartera potencial de 137,5 millones de d贸lares, representando un incremento del 88% respecto al a帽o anterior.
Los aspectos financieros destacados incluyen un crecimiento de ingresos del 6% hasta 5,9 millones de d贸lares para el a帽o fiscal 25 y una reducci贸n del 28% en gastos operativos a 23,3 millones de d贸lares. La empresa asegur贸 m煤ltiples alianzas estrat茅gicas, incluyendo acuerdos con Remah International Group, Unique Group y Red Cat Holdings, mientras ampliaba su presencia global mediante despliegues de plataformas y acuerdos con revendedores.
Logros notables incluyen la obtenci贸n de una autorizaci贸n de seguridad para instalaciones del Departamento de Defensa y la certificaci贸n ISO 9001. La compa帽铆a termin贸 el a帽o fiscal 25 con 6,9 millones de d贸lares en efectivo y equivalentes, comparado con 3,3 millones al inicio del a帽o fiscal.
Ocean Power Technologies (NYSE American: OPTT)電� 2025 須岅硠鞐半弰 4攵勱赴 氚� 鞐瓣皠 鞁れ爜鞚� 氚滍憸頃橂┌ 欤检殧 歆�響滌棎靹� 靸侂嫻頃� 靹膘灔鞚� 旮半頄堨姷雼堧嫟. 須岇偓電� 鞝勲厔 雽�牍� 158% 歃濌皜頃� 1,250毵� 雼煬鞚� 靷儊 斓滊寑 靾橃＜ 鞛旉碃鞕赌 1鞏� 3,750毵� 雼煬鞚� 韺岇澊頂勲澕鞚�鞚� 頇曤炒頃橃棳 鞝勲厔 雽�牍� 88% 歃濌皜毳� 雮橅儉雰堨姷雼堧嫟.
鞛 頃橃澊霛检澊韸鸽電� 2025 須岅硠鞐半弰 毵れ稖鞚� 6% 歃濌皜頃� 590毵� 雼煬毳� 旮半頄堦碃, 鞖挫榿牍勳毄鞚� 28% 臧愳唽頃橃棳 2,330毵� 雼煬鞐� 雼枅鞀惦媹雼�. 須岇偓電� Remah International Group, Unique Group, Red Cat Holdings鞕赌鞚� 鞝勲灥鞝� 韺岉姼雱堨嫮鞚� 觳搓舶頄堨溂氅�, 頂岆灚韽� 氚办箻 氚� 毽厐霟� 瓿勳暯鞚� 韱淀暣 旮�搿滊矊 鞛呾毳� 頇曥灔頄堨姷雼堧嫟.
欤检殧 靹标臣搿滊姅 甑癌攵� 鞁滌劋 氤挫晥 鞀轨澑瓿� ISO 9001 鞚胳 須嶋摑鞚� 韽暔霅╇媹雼�. 須岇偓電� 2025 須岅硠鞐半弰 毵愳棎 順勱笀 氚� 順勱笀靹� 鞛愳偘 690毵� 雼煬毳� 氤挫湢頄堨溂氅�, 須岅硠鞐半弰 齑堨潣 330毵� 雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟.
Ocean Power Technologies (NYSE American : OPTT) a publi茅 ses r茅sultats du quatri猫me trimestre et de l'exercice fiscal complet 2025, marquant une croissance significative des indicateurs cl茅s. L'entreprise a atteint un record de carnet de commandes de 12,5 millions de dollars, en hausse de 158 % sur un an, et un pipeline de 137,5 millions de dollars, soit une augmentation de 88 % par rapport 脿 l'ann茅e pr茅c茅dente.
Les faits marquants financiers incluent une croissance du chiffre d'affaires de 6 % 脿 5,9 millions de dollars pour l'exercice 2025 et une r茅duction de 28 % des d茅penses d'exploitation 脿 23,3 millions de dollars. L'entreprise a conclu plusieurs partenariats strat茅giques, notamment avec Remah International Group, Unique Group et Red Cat Holdings, tout en 茅tendant sa pr茅sence mondiale gr芒ce 脿 des d茅ploiements de plateformes et des accords de revente.
Parmi les r茅alisations notables figurent l'obtention d'une autorisation de s茅curit茅 pour installations du D茅partement de la D茅fense et la certification ISO 9001. L'entreprise a termin茅 l'exercice 2025 avec 6,9 millions de dollars en liquidit茅s et 茅quivalents, contre 3,3 millions au d茅but de l'exercice.
Ocean Power Technologies (NYSE American: OPTT) meldete seine Ergebnisse f眉r das vierte Quartal und das Gesamtjahr des Gesch盲ftsjahres 2025 und verzeichnete ein signifikantes Wachstum bei wichtigen Kennzahlen. Das Unternehmen erreichte einen Rekordauftragsbestand von 12,5 Millionen US-Dollar, ein Plus von 158 % gegen眉ber dem Vorjahr, sowie eine Pipeline von 137,5 Millionen US-Dollar, was einem Anstieg von 88 % gegen眉ber dem Vorjahr entspricht.
Zu den finanziellen Highlights z盲hlen ein Umsatzwachstum von 6 % auf 5,9 Millionen US-Dollar im Gesch盲ftsjahr 2025 sowie eine Reduzierung der Betriebskosten um 28 % auf 23,3 Millionen US-Dollar. Das Unternehmen sicherte sich mehrere strategische Partnerschaften, darunter Vereinbarungen mit Remah International Group, Unique Group und Red Cat Holdings, und erweiterte seine globale Pr盲senz durch Plattformbereitstellungen und Wiederverkaufsvereinbarungen.
Bemerkenswerte Erfolge sind die Erlangung einer Sicherheitsfreigabe f眉r Einrichtungen des Verteidigungsministeriums sowie die ISO 9001-Zertifizierung. Das Unternehmen schloss das Gesch盲ftsjahr 2025 mit 6,9 Millionen US-Dollar an liquiden Mitteln und 脛quivalenten ab, verglichen mit 3,3 Millionen zu Beginn des Gesch盲ftsjahres.
- Record backlog of $12.5 million, up 158% year-over-year
- Pipeline increased 88% to $137.5 million
- Operating expenses reduced by 28% to $23.3 million
- Revenue grew 6% to $5.9 million in FY25
- Obtained DoD Facility Security Clearance for classified programs
- Secured multiple strategic partnerships and distribution agreements
- Achieved ISO 9001 certification
- Net loss of $21.5 million in FY25
- Gross profit decreased to $1.7 million from $2.8 million in FY24
- Cash burn of $18.6 million from operating activities
Insights
OPT shows improved financial discipline with 28% lower expenses, 6% revenue growth, and 158% backlog increase, though still operating at significant losses.
Ocean Power Technologies' latest results reveal a company in transition, with a record $12.5 million backlog (up 158% year-over-year) and an $137.5 million pipeline (88% increase) signaling potential future growth. The firm achieved $5.9 million in revenue for FY25, a modest 6% improvement over FY24, but more importantly demonstrated significant cost discipline by reducing operating expenses by 28% to $23.3 million.
Despite these improvements, OPT remains deeply unprofitable with a $21.5 million net loss for FY25. While this represents an improvement from the prior year's $27.5 million loss, the company's burn rate remains substantial relative to its revenue. The
The cash position of
The ISO 9001 certification and transition from technology proof-of-concept to commercial scaling represent meaningful operational milestones. While the company's financial transformation is still in progress, the combination of controlled expenses, growing backlog, and strategic partnerships with entities like AT&T, Red Cat Holdings, and Teledyne Marine provide a more credible pathway to eventual profitability than seen in previous periods.
OPT's defense sector expansion with DoD security clearance, international defense contracts, and unmanned maritime-aerial integration significantly enhances growth prospects.
OPT's Department of Defense Facility Security Clearance represents a strategic inflection point, authorizing the company to support classified programs at the Secret level. This credential significantly expands their addressable market within defense procurement channels, as many maritime surveillance and security programs require contractors with established security protocols.
The company's international defense positioning has strengthened through multiple channels. Their new contract with an international defense agency for WAM-V庐 Unmanned Surface Vehicles expands their footprint in allied naval markets. The partnership with Remah International Group creates a dedicated channel into Middle Eastern defense and security sectors, where maritime domain awareness is increasingly prioritized due to regional tensions.
Most technically significant is OPT's strategic alliance with Red Cat Holdings to integrate aerial drone capabilities with their WAM-V庐 platforms. This multi-domain approach addresses a critical capability gap in current defense systems by creating persistent, autonomous air-sea ISR (Intelligence, Surveillance, Reconnaissance) platforms that don't require human crews or conventional infrastructure. The defense sector increasingly values such autonomous, interconnected systems that can operate in contested environments with minimal human intervention.
The PowerBuoy庐 deployment with the U.S. Naval Postgraduate School integrating AT&T庐 5G technology demonstrates how OPT's platforms can serve dual roles as both surveillance assets and communications infrastructure nodes along coastlines 鈥� addressing a recognized vulnerability in maritime domain awareness. The company's successful navigation of defense procurement processes, evidenced by their growing backlog with defense customers, suggests their technology is transitioning from experimental to operationally relevant.
OPT Enters Fiscal 2026 with Record Backlog and Record Pipeline
MONROE TOWNSHIP, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal fourth quarter (鈥�4Q25鈥�) and full-year ended April 30, 2025 (鈥淔Y25鈥�). Highlights include:
FY25 RESULTS and RECENT HIGHLIGHTS
- Backlog at April 30, 2025 was
$12.5 million , a158% increase over the prior year. - Pipeline as of the date of this release stands at
$137.5 million , an88% increase over the$71.6 million pipeline at April 30, 2024. - Operating expenses of
$23.3 million for FY25 decreased$8.9 million , or28% , versus$32.2 million for the year ended April 30, 2024. - Revenues for FY25 of
$5.9 million increased6% over FY24 revenues.
Global Platform Deployments:
- Shipped an AI-enabled Merrows鈩� PowerBuoy庐 to a Middle Eastern customer following a competitive procurement.
- Secured a new contract with an international defense agency to demonstrate multiple WAM-V庐 Unmanned Surface Vehicles, expanding OPT鈥檚 presence in allied naval markets.
- Received multi-million-dollar orders for PowerBuoy庐 and WAM-V庐 systems from customers in Latin America, with deliveries spanning several quarters.
- Completed a U.S. Naval Postgraduate School deployment of a PowerBuoy庐 with Merrows鈩� for persistent maritime surveillance research. The full system integrates AT&T庐 5G technology and advanced subsea sensors into OPT鈥檚 latest PowerBuoy庐 equipped with its proprietary Merrows鈩� suite. The collaboration with AT&T庐 demonstrates how PowerBuoys庐 can serve as 5G communications nodes along the U.S. coastline.
Strategic Partnerships:
- Signed a
$3 million reseller agreement with a leading Mexican engineering firm, to expand our reach across Central America through integrated sales and support of OPT鈥檚 full suite of intelligent maritime solutions. This strategic partnership deepens OPT鈥檚 Latin American presence and builds on recent momentum in global market expansion, further validating demand for the Company鈥檚 WAM-V庐 USVs, Next Gen PowerBuoy庐, and AI-powered Merrows鈩� platform. With this agreement, OPT continues to execute on its strategy to scale through high-impact regional partnerships, accelerate revenue growth, and strengthen its position as a global marine robotics leader. - Formed exclusive distribution and integration alliances with:
- Remah International Group (UAE) for defense and security markets in the Middle East.
- Unique Group to expand WAM-V庐 deployments across the GCC region.
- Elektron SAS (Colombia), which committed to a multi-million-dollar purchase of OPT鈥檚 maritime technologies.
- Ocean Wave Solutions Ltda (Brazil) to address growing demand across South America.
- We entered into a strategic alliance with Red Cat Holdings (Red Cat), a leading provider of military-grade aerial drones. Together, we plan to integrate Red Cat鈥檚 drone technology with our WAM-V庐 uncrewed surface vehicles (USVs) to deliver a powerful, ocean-powered solution for air and sea-based intelligence, surveillance, and reconnaissance (ISR) missions. This collaboration opens the door to multi-domain operations, where OPT鈥檚 autonomous maritime platforms work seamlessly with Red Cat鈥檚 aerial systems to gather and transmit critical data across vast environments, all without human crews or traditional infrastructure. By combining our strengths, we鈥檙e creating a highly flexible, mobile ISR solution for defense, security, and commercial applications, a major step forward in our mission to modernize how persistent surveillance is delivered across land, sea, and air.
- Signed an OEM agreement with Teledyne Marine to co-develop integrated payload and AI solutions.
ISO 9001
- We achieved ISO 9001 certification for our quality management system, a globally recognized benchmark for excellence in engineering, manufacturing, and service delivery. This is not just a compliance achievement. It is a reflection of OPT鈥檚 evolution into a scalable, repeatable, and process-driven provider of maritime solutions. As ISO 9001 is often a requirement for customers, we believe this certification will meaningfully support our growth strategy while deepening the confidence of our partners, investors, and customers alike.
Streamlined Team and Streamlined Opex
- This year鈥檚 performance reflects the strength of our disciplined operating model. We鈥檙e executing with a streamlined team and leaner operating expense structure, yet delivering more, for our customers, our partners, and our shareholders. Year over year operating expenses declined by approximately
26% . By aligning resources with top priorities, we鈥檝e increased our operating efficiency without compromising our delivery capability or innovation roadmap. This positions us not only to weather volatility, but to scale with purpose as demand accelerates. We view this phase of lean execution not as a constraint, but as a foundation. With core systems, processes, and leadership in place, we鈥檙e prepared to scale responsibly as opportunities mature.
Facility Security Clearance (FCL):
- Granted Facility Security Clearance: OPT鈥檚 New Jersey headquarters and primary assembly facility received a U.S. Department of Defense Facility Security Clearance, authorizing the Company to support classified programs at the Secret level. This milestone significantly enhances OPT鈥檚 eligibility for future defense contracts and affirms its compliance with industrial security standards.
Management Commentary 鈥� Dr. Philipp Stratmann, OPT's President and Chief Executive Officer
鈥淔iscal 2025 was a pivotal year for Ocean Power Technologies as we transitioned from proving our technology to scaling our impact. We secured a Facility Security Clearance from the U.S. Department of Defense, deepening our eligibility for classified programs, and executed key international deployments across the Middle East and Latin America. Notably, our AI-enabled Merrows鈩� PowerBuoy庐 and WAM-V庐 platforms are now active in global defense markets, providing clear evidence that OPT鈥檚 autonomous maritime systems are becoming mission-critical infrastructure. With record backlog of
FY25 FINANCIAL HIGHLIGHTS
- Revenues for FY25 increased to
$5.9 million , a6% increase over FY24 revenue of$5.5 million . - Gross profit for FY25 was
$1.7 million , as compared to a gross profit of$2.8 million for FY24. - Operating expenses decreased
$8.9 million or28% to$23.3 million in FY25, as compared to$32.2 million in FY24. - Net loss was
$21.5 million for FY25, as compared to a net loss of$27.5 million for FY24, primarily driven by the decrease in operating expenses noted above. - Backlog increased
$7.6 million or155% to$12.5 million as of April 30, 2025 as compared to$4.9 million at April 30, 2024. Our backlog includes unfilled firm written orders for our products and services from commercial or governmental customers, which we call orders. We believe the disclosure of orders is a useful metric for investors, as it helps support our future revenue expectations and adds validity to our strategic growth plan. Company management uses orders as a tool to manage expected growth, budget and cash requirements, and to monitor the success of our sales and marketing efforts. If any of our orders were to be terminated, delayed or revised downward, our orders and our backlog would be reduced by the expected value of the remaining terms of such contract.
Balance Sheet and Cash Flows:
- Combined cash, unrestricted cash, cash equivalents and short-term investments as of April 30, 2025, was
$6.9 million , which compares to$3.3 million at the beginning of the fiscal year. - Net cash used in operating activities for FY25 was approximately
$18.6 million , compared to$29.8 million FY24.
Conference Call & Webcast
As previously announced, a conference call to discuss OPT鈥檚 financial results will be held tomorrow morning, Friday, July 25, 2025, at 9:00 a.m. Eastern time. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call.
- The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.
- Live webcast:
- Call Replay: Will be available by telephone approximately two hours after the call's completion until August 26, 2024. You may access the replay by dialing 877-660-6853 from the U.S. or 201-612-7415 for international callers and using the Conference ID 13754036.
- Webcast Replay: The archived webcast will also be available on the OPT investor relations section of its website.
About听Ocean Power Technologies
OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy庐听platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V庐听autonomous surface vessels (ASVs) and marine robotics services. The Company鈥檚 headquarters is located in听Monroe Township, New Jersey听and has an additional office in听Richmond,听California. To learn more, visit听.
Non-GAAP Measures: Pipeline
Pipeline is not a term recognized under听United States听generally accepted accounting principles; however, it is a common measurement used in our industry. Our methodology for determining pipeline may not be comparable to the methodologies used by other companies. Pipeline is a representation of the journey potential customers take from the moment they become aware of our products and service to the moment they become a paying customer. The sales pipeline is divided into a series of phases, each representing a different milestone in the customer journey. It is a tool we use to track sales progress, identify potential roadblocks, and make data-driven decisions to improve our sales performance. Revenue estimates derived from our pipeline can be subject to change due to project accelerations, cancellations or delays due to various factors. These factors can also cause revenue amounts to be realized in periods and at levels different than originally projected.
Forward-Looking Statements
This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the听U.S. Securities and Exchange Commission听for further discussion of these risks and uncertainties..听Except as may be required by applicable law, the Company undertakes no, and expressly disclaims any, obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, circumstances or otherwise after the date of this press release, and you are cautioned not to rely upon them unduly,
Financial Tables Follow
Additional information may be found in the Company's Annual Report on Form 10-K that will be filed with the U.S. Securities and Exchange Commission. The Form 10-K is accessible at www.sec.gov or the Investor Relations section of the Company's website (www.OceanPowerTechnologies.com/investor-relations).
Contact Information
Investors: 609-730-0400 x401 or 听
Media: 609-730-0400 x402 or 听
| Ocean Power Technologies, Inc. and Subsidiaries Consolidated Balance Sheets (in thousands, except share data) | 听 | |||||||
| 听 | 听 | April 30, 2025 | 听 | 听 | April 30, 2024 | 听 | ||
| ASSETS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Current assets: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash and cash equivalents | 听 | $ | 6,715 | 听 | 听 | $ | 3,151 | 听 |
| Accounts receivable, net | 听 | 听 | 1,191 | 听 | 听 | 听 | 796 | 听 |
| Contract assets | 听 | 听 | 1,088 | 听 | 听 | 听 | 18 | 听 |
| Inventory | 听 | 听 | 4,222 | 听 | 听 | 听 | 4,831 | 听 |
| Other current assets | 听 | 听 | 400 | 听 | 听 | 听 | 1,747 | 听 |
| Total current assets | 听 | $ | 13,616 | 听 | 听 | $ | 10,543 | 听 |
| Property and equipment, net | 听 | 听 | 3,444 | 听 | 听 | 听 | 3,443 | 听 |
| Intangibles, net | 听 | 听 | 3,490 | 听 | 听 | 听 | 3,622 | 听 |
| Right-of-use assets, net | 听 | 听 | 1,552 | 听 | 听 | 听 | 2,405 | 听 |
| Restricted cash, long-term | 听 | 听 | 154 | 听 | 听 | 听 | 154 | 听 |
| Goodwill | 听 | 听 | 8,537 | 听 | 听 | 听 | 8,537 | 听 |
| Total assets | 听 | $ | 30,793 | 听 | 听 | $ | 28,704 | 听 |
| LIABILITIES AND SHAREHOLDERS鈥� EQUITY | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts payable | 听 | $ | 568 | 听 | 听 | $ | 3,366 | 听 |
| Earn out payable | 听 | 听 | 300 | 听 | 听 | 听 | 1,130 | 听 |
| Accrued expenses | 听 | 听 | 1,271 | 听 | 听 | 听 | 1,787 | 听 |
| Contract liabilities | 听 | 听 | 鈥� | 听 | 听 | 听 | 302 | 听 |
| Right-of-use liabilities, current portion | 听 | 听 | 1,150 | 听 | 听 | 听 | 774 | 听 |
| Total current liabilities | 听 | $ | 3,289 | 听 | 听 | $ | 7,359 | 听 |
| Deferred tax liability | 听 | 听 | 203 | 听 | 听 | 听 | 203 | 听 |
| Right-of-use liabilities, less current portion | 听 | 听 | 649 | 听 | 听 | 听 | 1,798 | 听 |
| Total liabilities | 听 | $ | 4,141 | 听 | 听 | $ | 9,360 | 听 |
| Commitments and contingencies (Note 14) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Shareholders鈥� Equity: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Preferred stock, | 听 | $ | 鈥� | 听 | 听 | $ | 鈥� | 听 |
| Common stock, | 听 | 听 | 172 | 听 | 听 | 听 | 61 | 听 |
| Treasury stock, at cost; 787,477 and 88,017 shares, respectively | 听 | 听 | (1,018 | ) | 听 | 听 | (369 | ) |
| Additional paid-in capital | 听 | 听 | 356,588 | 听 | 听 | 听 | 327,276 | 听 |
| Accumulated deficit | 听 | 听 | (329,090 | ) | 听 | 听 | (307,579 | ) |
| Accumulated other comprehensive loss | 听 | 听 | 鈥� | 听 | 听 | 听 | (45 | ) |
| Total shareholders鈥� equity | 听 | 听 | 26,652 | 听 | 听 | 听 | 19,344 | 听 |
| Total liabilities and shareholders鈥� equity | 听 | $ | 30,793 | 听 | 听 | $ | 28,704 | 听 |
| Ocean Power Technologies, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) | 听 | |||||||
| 听 | 听 | Fiscal year ended April 30, | 听 | |||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||
| Revenue | 听 | $ | 5,861 | 听 | 听 | $ | 5,525 | 听 |
| Cost of revenue | 听 | 听 | 4,201 | 听 | 听 | 听 | 2,699 | 听 |
| Gross profit | 听 | 听 | 1,660 | 听 | 听 | 听 | 2,826 | 听 |
| Loss/(Gain) from change in fair value of consideration | 听 | 听 | 鈥� | 听 | 听 | 听 | (72 | ) |
| Operating expenses | 听 | 听 | 23,346 | 听 | 听 | 听 | 32,229 | 听 |
| Total operating expenses | 听 | 听 | 23,346 | 听 | 听 | 听 | 32,157 | 听 |
| Operating loss | 听 | $ | (21,686 | ) | 听 | $ | (29,331 | ) |
| Interest income, net | 听 | 听 | 47 | 听 | 听 | 听 | 800 | 听 |
| Other (expense)/income | 听 | 听 | (23 | ) | 听 | 听 | 2 | 听 |
| Loss on disposition of assets (Note 7) | 听 | 听 | 鈥� | 听 | 听 | 听 | (210 | ) |
| Loss on extinguishment of debt | 听 | 听 | (838 | ) | 听 | 听 | 鈥� | 听 |
| Foreign exchange (loss)/gain | 听 | 听 | (45 | ) | 听 | 听 | 2 | 听 |
| Loss before income taxes | 听 | $ | (22,545 | ) | 听 | $ | (28,737 | ) |
| Income tax benefit | 听 | 听 | 1,034 | 听 | 听 | 听 | 1,254 | 听 |
| Net loss | 听 | $ | (21,511 | ) | 听 | $ | (27,483 | ) |
| Basic and diluted net loss per share | 听 | $ | (0.17 | ) | 听 | $ | (0.47 | ) |
| Weighted average shares used to compute basic and diluted net loss per share | 听 | 听 | 126,913,998 | 听 | 听 | 听 | 59,031,736 | 听 |
| OCEAN POWER TECHNOLOGIES, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) | 听 | ||||||||
| 听 | 听 | Fiscal year ended April 30, | 听 | ||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | ||
| Cash flows from operating activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net loss | 听 | $ | (21,511 | ) | 听 | $ | (27,483 | ) | 听 |
| Adjustments to reconcile net loss to net cash used in operating activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Foreign exchange loss/(gain) | 听 | 听 | 45 | 听 | 听 | 听 | (2 | ) | 听 |
| Depreciation of fixed assets | 听 | 听 | 771 | 听 | 听 | 听 | 420 | 听 | 听 |
| Amortization of intangible assets | 听 | 听 | 132 | 听 | 听 | 听 | 148 | 听 | 听 |
| Amortization of right-of-use assets | 听 | 听 | 853 | 听 | 听 | 听 | 593 | 听 | 听 |
| (Accretion of discount)/amortization of premium on investments | 听 | 听 | 鈥� | 听 | 听 | 听 | (290 | ) | 听 |
| Change in contingent consideration liability | 听 | 听 | 鈥� | 听 | 听 | 听 | (72 | ) | 听 |
| Loss on disposal of assets | 听 | 听 | 鈥� | 听 | 听 | 听 | 210 | 听 | 听 |
| Stock based compensation | 听 | 听 | 4,603 | 听 | 听 | 听 | 1,155 | 听 | 听 |
| Loss on extinguishment of debt | 听 | 听 | 838 | 听 | 听 | 听 | 鈥� | 听 | 听 |
| Loss on disposal of property and equipment | 听 | 听 | 111 | 听 | 听 | 听 | 鈥� | 听 | 听 |
| Changes in operating assets and liabilities, net of acquisitions: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts receivable | 听 | 听 | (395 | ) | 听 | 听 | (51 | ) | 听 |
| Contract assets | 听 | 听 | (1,070 | ) | 听 | 听 | 134 | 听 | 听 |
| Inventory | 听 | 听 | 230 | 听 | 听 | 听 | (3,787 | ) | 听 |
| Other assets | 听 | 听 | 1,347 | 听 | 听 | 听 | (753 | ) | 听 |
| Accounts payable | 听 | 听 | (2,798 | ) | 听 | 听 | 2,414 | 听 | 听 |
| Accrued expenses | 听 | 听 | (515 | ) | 听 | 听 | (309 | ) | 听 |
| Earn out payable | 听 | 听 | (200 | ) | 听 | 听 | (500 | ) | 听 |
| Right-of-use liabilities | 听 | 听 | (773 | ) | 听 | 听 | (514 | ) | 听 |
| Contract liabilities | 听 | 听 | (302 | ) | 听 | 听 | (1,076 | ) | 听 |
| Net cash used in operating activities | 听 | $ | (18,634 | ) | 听 | $ | (29,763 | ) | 听 |
| Cash flows from investing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Redemptions of short-term investments | 听 | $ | 鈥� | 听 | 听 | $ | 35,975 | 听 | 听 |
| Purchases of short-term investments | 听 | 听 | 鈥� | 听 | 听 | 听 | (7,894 | ) | 听 |
| Purchases of property and equipment | 听 | 听 | (505 | ) | 听 | 听 | (2,585 | ) | 听 |
| Net cash (used in)/provided by investing activities | 听 | $ | (505 | ) | 听 | $ | 25,496 | 听 | 听 |
| Cash flows from financing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash paid for tax withholding related to shares withheld | 听 | $ | (649 | ) | 听 | $ | (14 | ) | 听 |
| Proceeds from convertible notes | 听 | 听 | 3,173 | 听 | 听 | 听 | 鈥� | 听 | 听 |
| Proceeds from issuance of common stock - At The Market offering, net of issuance costs | 听 | 听 | 17,729 | 听 | 听 | 听 | 483 | 听 | 听 |
| Proceeds from issuance of common stock - Capital Raise, net of issuance costs | 听 | 听 | 2,450 | 听 | 听 | 听 | 鈥� | 听 | 听 |
| Net cash provided by/(used in) financing activities | 听 | $ | 22,703 | 听 | 听 | $ | 469 | 听 | 听 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 听 | $ | 鈥� | 听 | 听 | $ | 鈥� | 听 | 听 |
| Net decrease in cash, cash equivalents and restricted cash | 听 | $ | 3,564 | 听 | 听 | $ | (3,798 | ) | 听 |
| Cash, cash equivalents and restricted cash, beginning of year | 听 | 听 | 3,305 | 听 | 听 | 听 | 7,103 | 听 | 听 |
| Cash, cash equivalents and restricted cash, end of year | 听 | $ | 6,869 | 听 | 听 | $ | 3,305 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Supplemental disclosure of noncash investing and financing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Common stock issued related to bonus and earnout payments | 听 | $ | 630 | 听 | 听 | $ | 1,250 | 听 | 听 |
| Common stock issued related to conversion of convertible debt | 听 | 听 | 15 | 听 | 听 | 听 | 鈥� | 听 | 听 |
| Operating right of use asset obtained in exchange for operating lease liability | 听 | $ | 鈥� | 听 | 听 | $ | 1,247 | 听 | 听 |
FAQ
What were Ocean Power Technologies (OPTT) key financial results for fiscal 2025?
How much is Ocean Power Technologies (OPTT) current backlog and pipeline?
What strategic partnerships did Ocean Power Technologies (OPTT) secure in fiscal 2025?
What certifications did Ocean Power Technologies (OPTT) achieve in fiscal 2025?
How much cash does Ocean Power Technologies (OPTT) have as of April 30, 2025?
