OPT reports Q2 FY2026 revenue of $0.4M, net loss $10.8M; backlog rises 300% to $15M

Ocean Power Technologies, Inc.

2026-Q2 EPS reported -$0.10 revenue$1,606,000

Revenue of $0.4M in Q2 FY2026, down from $2.4M in Q2 FY2025, due to US federal government shutdown timing.
Net loss of $10.8M in Q2, compared to $3.9M in prior year; operating expenses increased partly due to $2.5M non-cash stock comp.
Backlog reached $15.0M as of Oct 31, 2025, up nearly 300% from $3.8M a year ago; pipeline grew 63% to $137.5M.
Shipped eight WAM-V ASVs during quarter; entered strategic partnerships with Mythos AI and Gradient Marine.
Cash and short-term investments $11.7M at Oct 31, 2025, up from $6.7M at start of fiscal year.

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