---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-009843"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2024-03-13T23:59:59+00:00"
generated_at: "2026-06-04T22:05:23.246858+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-009843
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2024-03-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315224009843/0001493152-24-009843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315224009843/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-009843
- JSON: https://secwatch.observer/filing/0001493152-24-009843.json
- Plain text: https://secwatch.observer/filing/0001493152-24-009843.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315224009843/0001493152-24-009843-index.htm

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