---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-044738"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:22:48.279495+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies Q2 revenue triples to $0.9M; net loss widens to $7.2M

## Summary
- Revenue $0.9M vs $0.3M YoY; gross profit $0.5M vs $39K; net loss $7.2M vs $4.8M.
- Pipeline grew 221% YoY to ~$93M; backlog $4.5M at Oct 31.
- Expects cashflow positive within calendar year 2025 after pivot to commercial activities.
- Received letter contract for multi-buoy array with $6.5M ceiling for US government agencies.
- Appointed Matt Burdyny as Chief Commercial Officer and Rear Admiral Mercado as special advisor.

## SEC filing metadata
- accession: 0001493152-23-044738
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315223044738/0001493152-23-044738-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315223044738/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-044738
- JSON: https://secwatch.observer/filing/0001493152-23-044738.json
- Plain text: https://secwatch.observer/filing/0001493152-23-044738.txt

## Key facts
- Earnings Releases
  Ocean Power Technologies, Inc. reported fiscal second quarter ended October 31, 2023 results: revenue $0.9 million.
  - Period: fiscal second quarter ended October 31, 2023
  - Revenue: $0.9 million
  - Result: reported results
  source text: 31, 2022. The pipeline continues to grow, reflecting a significant increase in defense and security activity as well as an expansion of commercial opportunities. ● Revenues of $0.9 million for Q224 grew $0.6 million over revenues of $0.3 million for the fiscal quarter ended October 31, 2022 (“Q223”). Revenue for the six months ended October 31, 2023 was $2.2
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315223044738/0001493152-23-044738-index.htm

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