Ocean Power Technologies (OPTT) Company Report

Ocean Power Technologies, Inc. (OPTT) stockholders approved an amendment to the Certificate of Incorporation to increase the authorized common stock from 300,000,000 to 400,000,000 shares.
The company also increased the shares available under its Employment Inducement Incentive Award Plan from 990,000 to 1,990,000 and under the 2015 Omnibus Incentive Plan from 27,282,036 to 32,282,036.
At the 2025 Annual Meeting held on January 27, 2026, stockholders elected five directors and ratified the selection of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2026.

Jan 28, 2026, 9:05 PM

8-K

Ocean Power Technologies Secures $5 Million DHS Contract

OPTT

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

Ocean Power Technologies (OPTT) announced a $5 million contract with the Department of Homeland Security (DHS), marking its first multi-buoy order.
This contract is a contractor-owned, contractor-operated agreement, with revenue expected to be recognized over the period of performance in weeks and months.
As of Q3 results, prior to this new contract, OPTT's backlog was approximately $15 million, and its pipeline exceeded $137 million. The new DHS contract was not previously in backlog but is now part of it.
The company is strategically focused on expanding its U.S. government business, including defense, and is also pursuing opportunities in Latin America and the Middle East.

Jan 9, 2026, 9:39 PM

8-K

Ocean Power Technologies Secures Over $5 Million Contract for Maritime Surveillance

OPTT

New Projects/Investments

Ocean Power Technologies (OPTT) announced a contract exceeding $5 million to deliver and operate MERROWS®-equipped PowerBuoy® systems for a U.S. Coast Guard mission under the Department of Homeland Security.
The contract includes the near-term deployment of four maritime surveillance buoys off the coast of San Diego.
These PowerBuoy platforms will integrate with Anduril’s Lattice command-and-control system to form a unified maritime sensing network.
This initiative highlights the growing demand for persistent, low-maintenance, renewable-powered maritime surveillance in national security applications.

Jan 6, 2026, 2:52 PM

Press Release

OPTT Awarded Multi-Buoy Contract by U.S. Department of Homeland Security

OPTT

New Projects/Investments

Ocean Power Technologies, Inc. (OPTT) announced on January 6, 2026, the award of a multi-buoy contract greater than $5 million.
This contract is with the U.S. Department of Homeland Security for the U.S. Coast Guard.
OPTT will deploy and operate four MERROWS®-equipped PowerBuoy® systems off the coast of San Diego, California, to enhance maritime domain awareness.
The PowerBuoy® platforms will integrate with Anduril surveillance towers, feeding data into Anduril's Lattice Command-and-Control (C2) system for unified situational awareness.

Jan 6, 2026, 2:18 PM

8-K

Ocean Power Technologies Awarded Multi-Buoy Contract for U.S. Coast Guard Mission

OPTT

New Projects/Investments

Product Launch

Ocean Power Technologies (OPTT) has been awarded a multi-buoy contract valued at greater than $5 million.
The contract involves deploying MERROWS®-equipped PowerBuoy® systems to support a U.S. Coast Guard mission under the U.S. Department of Homeland Security.
This demonstration will enhance maritime domain awareness off the coast of San Diego, California, by integrating four PowerBuoy® platforms with Anduril surveillance towers and their Lattice Command-and-Control system.

Jan 6, 2026, 12:00 PM

Press Release

OPTT Reports Q2 2026 Financial Results with Strong Backlog and Pipeline Growth

OPTT

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

OPTT reported a backlog of approximately $15 million and a pipeline of $137.5 million as of October 31, 2025, reflecting significant year-over-year increases.
For Q2 2026, revenue was $0.4 million, a decrease from $2.4 million in the prior period, primarily due to delayed deliverables caused by a government shutdown, leading to a net loss of $10.8 million for the quarter.
The company ended the quarter with $11.7 million in cash, cash equivalents, and short-term investments as of October 31, 2025.
OPTT is experiencing accelerated activity with the U.S. government and expanding its international presence, with operational teams reorganized and the commercial team broadened to support anticipated growth and execution in defense, government security, and offshore energy markets.

Dec 15, 2025, 2:00 PM

Transcript

OPTT Reports Q2 2026 Results with Increased Backlog and Pipeline

OPTT

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Ocean Power Technologies (OPTT) reported revenue of $0.4 million for the second quarter of fiscal 2026, ended October 31, 2025, a decrease from $2.4 million in the prior period, primarily due to delayed deliverables.
The company's backlog increased to approximately $15 million as of October 31, 2025, up $11.2 million from the same period last year, and its pipeline expanded to $137.5 million, an increase of $53.2 million year-over-year.
Net losses for the quarter were $10.8 million, compared to $3.9 million in the prior year period, while combined cash, cash equivalents, and short-term investments stood at $11.7 million as of October 31, 2025.
OPTT noted accelerated activity with the U.S. government following its reopening, contributing to pipeline growth, and continued international engagement with demonstrations in Latin America and the U.A.E..

Dec 15, 2025, 2:00 PM

Transcript

OPTT Reports Q2 2026 Results with Expanded Backlog and Pipeline

OPTT

Earnings

New Projects/Investments

For the second quarter ended October 31, 2025, Ocean Power Technologies reported revenue of $0.4 million, a gross loss of $1.4 million, and a net loss of $10.8 million. The company held $11.7 million in cash, cash equivalents, and short-term investments as of October 31, 2025.
The company's backlog stood at approximately $15 million, an increase of $11.2 million from the same period last year, and its pipeline expanded to $137.5 million, up $53.2 million year-over-year.
Demand signals are strengthening across defense, government security, offshore energy, and commercial applications, with U.S. government activity accelerating following its reopening, and international demonstrations expanding the company's footprint. The company delivered eight ASVs during the quarter and is preparing for anticipated buoy orders.

Dec 15, 2025, 2:00 PM

Transcript

Ocean Power Technologies Announces Second Quarter Fiscal 2026 Results

OPTT

Earnings

New Projects/Investments

Demand Weakening

For fiscal 2Q26, Ocean Power Technologies reported revenues of $0.4 million and a net loss of $10.8 million, with the revenue decline largely attributed to timing impacts from a U.S. federal government shutdown.
The company's backlog increased by nearly 300% to $15.0 million and its pipeline grew by 63% to $137.5 million as of October 31, 2025, signaling robust future demand.
As of October 31, 2025, Ocean Power Technologies held $11.7 million in cash, unrestricted cash, cash equivalents, and short-term investments.
Recent strategic developments include shipping eight WAM-V® autonomous surface vehicles and establishing partnerships with Mythos AI for advanced AI integration and Gradient Marine for digital-twin capabilities in late 2025.

Dec 15, 2025, 12:00 PM

Press Release

Ocean Power Technologies Partners with Mythos AI

OPTT

New Projects/Investments

Ocean Power Technologies (OPTT) announced a partnership with Mythos AI on November 12, 2025, to integrate advanced AI-driven autonomy software across OPTT’s WAM-V® Autonomous Surface Vehicles (ASVs) and PowerBuoy® platforms.
This collaboration is designed to enhance OPTT’s operational capabilities and accelerate the range of integrated solutions for customers in defense, security, and commercial sectors.
The partnership is expected to expand OPTT’s addressable market by strengthening its position in the autonomous and intelligent systems domain, with initial demonstrations scheduled for the first quarter of 2026.