OPT Q3 revenue $1.8M (+157%), net loss $6.5M; pipeline $77M

Ocean Power Technologies, Inc.

2024-Q3 EPS reported -$0.35 revenue$3,953,000

Revenue $1.8M in Q3 FY2024, up from $0.7M YoY; nine-month revenue $4.0M vs $1.8M.
Gross margin 45.4% in Q3 vs 18.5% YoY; gross profit $0.8M vs $0.1M.
Net loss $6.5M in Q3 vs $6.1M; includes ~$3.2M Paragon-related expenses YTD.
Pipeline ~$77M, 5.5x YoY increase from ~$14M, driven by defense and security.
Cash $9.3M at Jan 31, 2024, down from $41.1M a year ago; no bank debt.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ocean Power Technologies, Inc. reported third quarter ended January 31, 2024 results: revenue $1.8 million.

Period: third quarter ended January 31, 2024
Revenue: $1.8 million
Result: reported results

Exact text from the filing

including cost optimization, accelerated revenue growth, partnerships, or other mechanisms. FINANCIAL HIGHLIGHTS – Q324 Income Statement: ● Revenues for Q324 were $1.8 million, compared to $0.7 million in Q323. Revenues for the nine months ended January 31, 2024, were $4.0 million, compared to $1.8 million for the nine months ended January 31, 2023.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

Ocean Power Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009843

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.