Fiscal Q1: backlog surges 184% to $15M; net loss $7.4M; strategic partnership with Gradient Marine

Ocean Power Technologies, Inc.

2026-Q1 EPS reported -$0.04 vs consensus -$0.05 ▲ beat (+12.9%)

Backlog surged 184% to $15.0M as of July 31, 2025; pipeline $133.5M (+45% YoY).
Revenue $1.2M (-9% YoY); net loss $7.4M (vs $4.5M) driven by $2.1M non-cash stock comp.
Cash $10.0M; operating cash use $5.6M vs $6.1M prior year.
Announced strategic partnership with Gradient Marine for digital twin and simulation.
Expanded UAE partnership with Unique Group; opened new DC office at AUVSI.

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