OPT FY2023 revenue up 55% to $2.7M; net loss widens to $26.3M

Introduction of Fiscal 2024 Annual Guidance The Company is also introducing the following select guidance for full-year fiscal 2024: ● Contracted orders for FY24 are expected to be approximately $15 million. This represents growth of more than 2x over FY23.

FY23 FINANCIALS ● Revenues for FY23 increased to $2.7 million, a 55.3% increase over FY22. This growth has been driven by sales of WAM-V autonomous vehicles and an increase in strategic consulting services during the year. ● Gross profit for FY23 was $0.2 million, as compared to a gross loss of $(0.1) million for FY22. ● Operating expenses were $28.3 million in FY23, as compared to $21.5 million in FY22, primarily due to the inclusion of a full year of activity related to our MAR acquisition, and strategic increases in bonus and headcount, including additional resource needs in the areas of sales and marketing. ● Net loss was ($26.3) million for FY23, as compared to a net loss of ($18.9) million for FY22 which included non-cash equity compensation expense of $1.5 million and $1.2 million for FY23 and FY22, respectively.

4Q23 FINANCIALS ● Revenues for the 4Q23 were $1.0 million, 29.5% growth over 4Q22 revenues. ● Gross loss for 4Q23 was $133 thousand, as compared to a gross loss of $44 thousand in Q422. ● Operating expenses were $8.8 million in the 4Q23, up sequentially from $7.2 million in 3Q23, due to timing of projects and programs. ● Net loss was ($9.5) million for 4Q23, as compared to a net loss of ($5.1) million for the 4Q22.