Jeffrey Grampp

Shawn Severson

Brian Gordon

Glenn Mattson

Peter Gastreich

Peter Ruggiere

- **Revenue** for Q1 fiscal 2026 **decreased 9%** to **$1.2 million** compared to Q1 fiscal 2025.  **[1378140_0001493152-25-013624_ex99-1.htm:0]** **[1378140_0001493152-25-013624_ex99-1.htm:1]** 
- The company reported a **net loss of $7.4 million** for Q1 fiscal 2026, primarily due to a **$2.1 million increase in non-cash stock compensation expenses**.  **[1378140_0001493152-25-013624_ex99-1.htm:1]** **[1378140_0001493152-25-013624_ex99-1.htm:4]** 
- **Backlog surged 184%** to **$15.0 million** as of July 31, 2025, and the **pipeline increased 45%** to **$133.5 million** compared to the prior year.  **[1378140_0001493152-25-013624_ex99-1.htm:0]** **[1378140_0001493152-25-013624_ex99-1.htm:1]** 
- Ocean Power Technologies, Inc. entered a **strategic partnership with Gradient Marine** to integrate advanced digital twin and simulation capabilities for its PowerBuoy® and WAM-V® platforms.  **[1378140_0001493152-25-013624_ex99-2.htm:0]** 
- The company also expanded its partnership with UAE-based Unique Group and unveiled a major upgrade to its AI-enabled Merrows™ Maritime Domain Awareness Solution.  **[1378140_0001493152-25-013624_ex99-1.htm:0]**

Ocean Power Technologies, Inc. Announces Q1 Fiscal 2026 Results and Strategic Partnerships

- Ocean Power Technologies (OPTT) reported fiscal first quarter 2026 (1Q26) revenues of **$1.2 million**, marking a **9% decrease** from **$1.3 million** in 1Q25.  **[1378140_e1b33fc79e8a40f796bde2771604e271_0]** **[1378140_e1b33fc79e8a40f796bde2771604e271_2]** 
- The company's net loss for 1Q26 widened to **$7.4 million** from **$4.5 million** in 1Q25, primarily due to a **$2.1 million increase** in non-cash stock compensation expenses.  **[1378140_e1b33fc79e8a40f796bde2771604e271_2]** 
- Despite the revenue decrease, OPTT's backlog surged by **184%** to **$15.0 million** as of July 31, 2025, and its pipeline grew **45%** to **$133.5 million**.  **[1378140_e1b33fc79e8a40f796bde2771604e271_0]** **[1378140_e1b33fc79e8a40f796bde2771604e271_2]** 
- Cash, unrestricted cash, cash equivalents, and short-term investments increased to **$10.0 million** as of July 31, 2025, from **$3.3 million** at the beginning of the fiscal year.  **[1378140_e1b33fc79e8a40f796bde2771604e271_2]**

Ocean Power Technologies Announces Fiscal First Quarter 2026 Results

- **Ocean Power Technologies (OPTT)** has entered into a **strategic partnership with Gradient Marine (GM)** to enhance its digital twin and simulation capabilities.  **[1378140_65fe6e2a373b4cb6ad72245cc93846ce_0]** 
- Through this collaboration, OPT will integrate GM’s **Virtual Maritime Picture (VMP) software** to develop digital twins for its PowerBuoy® and WAM-V® autonomous surface vehicles.  **[1378140_65fe6e2a373b4cb6ad72245cc93846ce_0]** 
- This partnership is expected to enable **simulation-before-deployment**, accelerating development cycles and reducing operational risk for customers in defense, security, and commercial sectors.  **[1378140_65fe6e2a373b4cb6ad72245cc93846ce_0]** 
- The collaboration is also anticipated to **open new opportunities** in defense, offshore wind, aquaculture, subsea infrastructure, and environmental monitoring, while providing access to GM's Department of Defense customer network.  **[1378140_65fe6e2a373b4cb6ad72245cc93846ce_0]**