secwatch.observer — SEC 8-K summary
======================================

Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2023-09-14T23:59:59+00:00
Accession:  0001493152-23-032567
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Power Technologies Q1 revenue rises to $1.3M, pipeline jumps 215% to $85M
-------------------------------------------------------------------------------

- Revenue $1.3M (+86% YoY); gross profit $0.7M vs $0.2M; gross margin 52.1% vs 27.2%.
- Net loss widened to $7.0M from $5.9M; cash & equivalents $26.7M vs $51.9M year ago.
- Pipeline reached $85M, up 215% YoY, driven by defense/security and offshore wind demand.
- Awarded 3-year NOAA IDIQ contract with up to $10M total value (not in pipeline).
- Opened new marine robotics production facility in Richmond, CA; WAM-V remote charging demo completed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223032567/0001493152-23-032567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223032567/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-032567

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