secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2023-07-12T23:59:59+00:00
Accession:  0001493152-23-024338
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPT FY2023 revenue up 55% to $2.7M; net loss widens to $26.3M
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- Q4 revenue $1.0M (+29.5% YoY); Q4 net loss $9.5M vs $5.1M loss year ago.
- FY2023 total orders $6.3M, up 250% from $1.8M YoY; backlog $4.0M.
- Cash and short-term investments $34.7M, down from $57.3M; net cash used in ops $21.7M.
- FY2024 guidance: contracted orders expected ~$15M, more than 2x FY2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223024338/0001493152-23-024338-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223024338/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-024338

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