secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001493152-24-050911
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPT Q2 revenue $2.4M (up 172% YoY); net loss narrows to $3.9M; $54M convertible note facility
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- Revenue $2.4M for Q2FY25, 2.7x increase YoY; net loss $3.9M vs $7.2M prior year, down 46%.
- Operating expenses fell 41% to $4.7M; cash used in ops $4.8M, down 37% YoY.
- Reaffirmed profitability target in Q4 calendar 2025; trailing 12-month revenue $7.1M, up 83%.
- Entered $54M convertible note facility; initial $4M note at 12.5% interest, 18-mo maturity, 9.5% OID.
- Partnerships: $3M purchase orders in LatAm; expanded Middle East; completed Project Overmatch exercises.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224050911/0001493152-24-050911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224050911/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050911

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