secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001493152-23-007508
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/0001493152-23-007508-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223007508/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-007508

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer