---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-007508"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2023-03-14T23:59:59+00:00"
generated_at: "2026-06-18T03:01:08.302665+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Tech Q3 revenue up 51.7% to $0.7M; net loss widens to $6.1M

## Summary
- Revenue of $0.7M, up 51.7% YoY; nine-month revenue $1.8M, up 74.7%.
- Gross profit turned positive at $0.1M vs loss of $(0.1)M in Q322; gross margin 18.5%.
- Net loss $6.1M vs $5.5M loss in prior year; nine-month loss $16.8M vs $13.8M.
- Total orders Q3 $0.8M; nine-month orders $3.8M, up 111% YoY.
- Cash $41.1M at Jan 31, 2023; operating cash burn $16.1M YTD.

## SEC filing metadata
- accession: 0001493152-23-007508
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2023-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/0001493152-23-007508-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-007508
- JSON: https://secwatch.observer/filing/0001493152-23-007508.json
- Plain text: https://secwatch.observer/filing/0001493152-23-007508.txt

## Key facts
- Earnings Releases
  Ocean Power Technologies, Inc. reported nine months ended January 31, 2023 results: revenue $1.8 million, net income $16.8 million.
  - Period: nine months ended January 31, 2023
  - Revenue: $1.8 million
  - Net income: $16.8 million
  - Result: reported results
  source text: Revenues of $1.8 million for the nine months ended Q323, increased 74.7%, over revenues of $1.0 million for the same timeframe in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/0001493152-23-007508-index.htm
- Earnings Releases
  Ocean Power Technologies, Inc. reported fiscal third quarter ended January 31, 2023 results: revenue $0.7 million, net income $6.1 million.
  - Period: fiscal third quarter ended January 31, 2023
  - Revenue: $0.7 million
  - Net income: $6.1 million
  - Result: reported results
  source text: Revenues for the Q323 were $0.7 million, reflecting a growth of 51.7% over Q322 revenues.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/0001493152-23-007508-index.htm

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