---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-035445"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T04:38:49.592321+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Tech Q2 orders surge to $2.3M; annual meeting adjourned for lack of quorum

## Summary
- Q2 orders $2.3M (vs $0.1M prior year); fiscal year order guidance reaffirmed at $9.0M.
- Revenue $0.3M (+23% YoY); net loss $4.8M improved from $5.2M loss prior year.
- Cash $46.4M, no debt; operating cash burn $11.0M for six months.
- Annual meeting adjourned to Jan 13, 2023 due to lack of quorum; votes still being solicited.
- Awarded $0.5M government surveillance contract; $1.1M advance for MOSWEC wave energy project.

## SEC filing metadata
- accession: 0001493152-22-035445
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315222035445/0001493152-22-035445-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315222035445/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-035445
- JSON: https://secwatch.observer/filing/0001493152-22-035445.json
- Plain text: https://secwatch.observer/filing/0001493152-22-035445.txt

## Key facts
- Earnings Releases
  Ocean Power Technologies, Inc. reported fiscal second quarter ended October 31, 2022 results: revenue $0.3 million, net income $4.8 million.
  - Period: fiscal second quarter ended October 31, 2022
  - Revenue: $0.3 million
  - Net income: $4.8 million
  - Result: reported results
  source text: ● Revenues for the 2Q23 were $0.3 million, as compared to $0.2 million in 2Q22. Revenues increased to $1.0 million for the six months ended 2Q23, as compared to $0.5 million for the same period in the six month period, reflecting growth of 96.0%. This growth has been driven by sales of WAM-V’s and an increase in Strategic Consulting Services during the first six months ended 2Q23. 1 ● Engineering and product development costs were $1.8 million in the 2Q23, down slightly from the $2.2 million in 1Q23 due to timing of projects and programs. ● Selling, general, and administrative (SG&A) costs were $4.6 million for the 2Q23, reflecting an increase over $4.1 million for 1Q23. This increase is mainly related to increased payroll related expenses in the quarter. ● Net loss was $4.8 million for the 2Q23, as compared to $5.2 million for the 2Q22. Net loss was $10.7 million for the six months ended 2Q23, as compared to a net loss of $8.3 million for the same period 2Q22.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315222035445/0001493152-22-035445-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.