secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001493152-24-037590
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPT reports Q1 FY2025 net loss of $4.5M; operating expenses down 39% YoY; pipeline reaches record $92M
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- Revenue of $1.3M flat YoY; gross margin fell to 34% from 52% due to lower-margin pass-through revenue.
- Operating expenses of $4.9M decreased 39% from $8.1M; net loss improved to $4.5M from $7.0M.
- Pipeline grew to ~$92M (record); backlog increased 71% to $5.3M from $3.1M.
- Cash used in operations was $6.1M, down 23% YoY; cash and equivalents of $3.3M, no debt.
- Amended stock purchase agreement adds covenant limiting share issuance to 19.99% without stockholder approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224037590/0001493152-24-037590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224037590/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-037590

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