secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0001493152-22-035445
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315222035445/0001493152-22-035445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315222035445/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-035445

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