secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2024-03-13T23:59:59+00:00
Accession:  0001493152-24-009843
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224009843/0001493152-24-009843-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224009843/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009843

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