Highest-materiality recent filing
Ocean Power Technologies CFO Robert Powers departs; Victoria Hay named interim CFO
Robert Powers departed as CFO effective Sept. 30, 2026; his Dec. 13, 2021 employment letter was terminated without cause.
Robert Powers departed as CFO effective September 30, 2026, upon mutual agreement with the Board; his December 13, 2021 employment letter was terminated.
Ocean Power exchanges Series C-1 notes for Series D notes, cuts conversion price to $2.45
Ocean Power signed Exchange Agreements on Sept. 25, 2026 with Series C-1 noteholders, swapping Existing Notes for equal-principal Series D Convertible Notes under Section 3(a)(9).
OPT appoints Tracy Pagliara as Acting CEO; Jason Weed as COO; Dr. Stratmann steps down
Tracy Pagliara becomes Acting President & CEO and director, effective Sept 14, 2026; salary up to $400k, 75% bonus target, 75k RSUs.
Ocean Power Technologies announces 1-for-30 reverse stock split effective Sept 11, 2026
Stockholders approved reverse split; board set ratio at 1-for-30, effective 5:00 p.m. ET Sept 11, 2026.
OPT revises FY2026 results: revenue down to $3.7M, net loss up to $48.9M; going concern
Revenue revised down ~$0.4M to $3.7M for FY ended Apr 30, 2026; gross loss cut to $5.9M from $8.1M.
NYSE American late-filing notice cured: OPT filed FY 2026 10-K on Aug 19
NYSE American notified OPT Aug 14, 2026 of non-compliance for failing to file 10-K by Aug 13, 2026 due date.
Ocean Power Technologies initiates strategic alternatives review; retains Bowen, Inc. as advisor
Board initiated review of strategic alternatives to maximize stockholder value; no definitive course approved.
Ocean Power Technologies selected for $40M U.S. Navy IDIQ contract for autonomous ocean mapping
Selected as one of six potential awardees under a $40M IDIQ contract with the Naval Oceanographic Office.
Ocean Power Technologies enters $20M at-the-market equity offering with H.C. Wainwright
Up to $20M of common stock may be sold at market prices through H.C. Wainwright as sales agent.
OPT acquires subsea IP for 10.98M shares; FY26 revenue $4.1M, backlog up 58% to $19.8M
Acquired subsea IP from Columbia Power Technologies for 10,984,848 shares valued at $2.9M based on trailing 30-day VWAP.
OPTT extends NOL protective poison pill through June 2029; preferred shares increased to 700,000
Board amended Section 382 Tax Benefits Preservation Plan, extending expiration from June 29, 2026 to June 29, 2029.
PowerBuoy deployed off San Diego for US Coast Guard generated close to 0.5 MWh of renewable energy.
Ocean Power Technologies prices $10M registered direct offering of 25M units at $0.40
Sells 25M shares plus 25M common warrants at $0.40 per unit to institutional investors.
Ocean Power Tech expands U.S. deployments from 1 to 5 PowerBuoys adds international WAM-V systems
PowerBuoy deployments grow from 1 research system to 5 concurrent: 3 for DHS, 1 for Navy research, 1 for U.S. research institution.
OPT advances autonomous drone charging; deploys 3 PowerBuoys for DHS surveillance
Successfully demonstrated autonomous docking, charging, and redeployment of WAM-V maritime drone without human intervention.
Ocean Power Technologies issues $10M convertible notes due 18 months, convertible at $0.40
$10M aggregate principal of senior convertible notes sold to institutional investors; interest 4.5% (13% upon default).
OPT ships first PowerBuoy under $6.5M DHS contract for Coast Guard surveillance
Shipment of first PowerBuoy marks milestone in $6.5M contract with U.S. Department of Homeland Security.
Ocean Power Q3 revenue $400-600K (down ~50% YoY); net loss ~$11.4M; backlog $19.9M (+165%)
Q3FY26 revenue estimated $400K–$600K vs $0.8M YoY; net loss $11.3–$11.5M vs $6.7M YoY.
Ocean Power Technologies highlights strategic relevance amid Middle East tensions
Confirms regional partners and team members in Middle East are safe; operations continue without disruption.
Ocean Power Technologies gets $1.5M USCG buoy order, advances autonomy infrastructure
Approx. $1.5M US Coast Guard order for installation/deployment of buoy systems; expected near-term revenue.
OPTT shareholders approve authorized share increase to 400M; inducement plan shares doubled
Charter Amendment approved to increase authorized common stock from 300M to 400M shares.
Ocean Power Technologies announces $5M DHS contract; backlog $15M, pipeline $137M
CEO Philipp Stratmann discusses $5M multi-buoy contract with DHS for Coast Guard border monitoring on West Coast.
OPT wins >$5M multi-buoy DHS contract; 4 PowerBuoys for Coast Guard with Anduril
Award from DHS worth >$5M for four MERROWS-equipped PowerBuoys for Coast Guard mission.
OPT reports Q2 FY2026 revenue of $0.4M, net loss $10.8M; backlog rises 300% to $15M
Revenue of $0.4M in Q2 FY2026, down from $2.4M in Q2 FY2025, due to US federal government shutdown timing.
Ocean Power Technologies partners with Mythos AI to integrate AI autonomy into maritime platforms
Partnership with Mythos AI to integrate advanced AI-driven autonomy software into WAM-V ASVs and PowerBuoy platforms.
Ocean Power Technologies certified by AUVSI as Trusted UMS Operator Training Provider
Received official AUVSI certification as a Trusted Uncrewed Maritime Systems (UMS) Operator Training Provider.
Ocean Power Technologies issues additional $6.5M in convertible notes
On Oct 7, 2025, issued $6.5M in additional Series B Convertible Notes under existing Securities Purchase Agreement.
Fiscal Q1: backlog surges 184% to $15M; net loss $7.4M; strategic partnership with Gradient Marine
Backlog surged 184% to $15.0M as of July 31, 2025; pipeline $133.5M (+45% YoY).
Ocean Power Technologies ships two WAM-V USVs to UAE partner Remah International Group
Two WAM-V Unmanned Surface Vehicles shipped to Remah International Group in the UAE for defense demonstrations.
Ocean Power Technologies expands UAE partnership with Unique Group under MSA; leases WAM-V 22
Entered Master Services Agreement with Unique Group for non-defense WAM-V USV projects in UAE.
OPT management testifies before NJ legislature, opens DC office at AUVSI, upgrades Merrows MDAS
CEO Stratmann testified at NJ Assembly/Senate hearing on tidal/wave energy; called for policy support to make NJ US marine energy hub.
OPTT signs $40M ATM equity facility with Ladenburg; terminates prior AGP agreement
Entered into ATM sales agreement for up to $40M of common stock with Ladenburg Thalmann.
Ocean Power Technologies partners with Greensea IQ on autonomous hull maintenance system
Collaboration integrates Greensea IQ's EverClean hull-grooming robot with OPT's WAM-V USV platform.
OPT reports FY25 net loss of $21.5M; backlog hits record $12.5M (+158% YoY)
FY25 revenue $5.9M (+6% YoY); operating expenses down 28% to $23.3M.
OPT deploys PowerBuoy with 5G for NPS; earns ISO 9001
Installed PowerBuoy with AT&T 5G for NPS in Monterey Bay for maritime domain awareness and subsea monitoring.
OPT awarded patent (No. 18/936,528) for autonomous floating marine charging
USPTO issued Notice of Allowance for patent application 18/936,528, dated June 26, 2025.
Ocean Power Technologies auditor changes due to Moss Adams merger with Baker Tilly
Moss Adams merged into Baker Tilly effective June 3, 2025; Moss Adams resigned as auditor.
Ocean Power Technologies hires Jason Weed as SVP Commercial; Burdyny resigns as CCO
Matthew Burdyny resigned as Chief Commercial Officer effective June 13, 2025; no disagreement with board.
OPT completes WAM-V sea trial for Africa client at NJ test site; earns AUVSI certification
Completed first WAM-V 22 sea trial for Sub Saharan Africa customer at newly permitted USCG-approved test site in Southern New Jersey.
Ocean Power Technologies issues $10M convertible notes, option for up to $15M more
Initial $10M notes issued at par on May 15, 2025; total offering up to $25M aggregate principal.
Ocean Power Technologies awarded contract for multiple WAM-Vs to Allied Forces
Contract for multiple WAM-Vs with integrated sensors and operators as COCO delivery in late Spring 2025.
OPT shareholders approve share increase to 300M; ships WAM-V for Indo-Pacific and Merrows PowerBuoy
Shareholders approved increase in authorized common shares from 200M to 300M; 48.1M for, 23.9M against, 1.3M abstain.
Ocean Power Technologies secures WAM-V order from new international government customer
Contract for fully integrated WAM-V from new international government customer; assembly begins immediately.
OPT signs US reseller agreement for WAM-V USVs; confirms supply chain operational
Reseller agreement with Grava Hydrographic Solutions to sell WAM-V USVs across the United States.
OPTT awarded PowerBuoy contract for US East Coast; sells WAM-V to Latin American mining customer
PowerBuoy contract awarded for immediate delivery in USA; deployed on East Coast with surface and subsurface sensors.
OPTT Q3 FY2025 revenue $0.8M (-54% YoY), backlog record $7.5M, cash burn down 59%
Revenue $0.8M, down 54% YoY from $1.8M; trailing twelve-month revenue $6.1M, up 24%.
OPTT announces LOI for PowerBuoy with defense contractor and WAM-V order from European offshore firm
Binding letter of intent to deploy AI-capable PowerBuoy for a major international defense contractor.
Ocean Power Technologies to demo WAM-V USV at NAVDEX with Remah International Group
Company to exhibit at NAVDEX in Abu Dhabi with local partner Remah International Group (RIG).
Ocean Power Technologies secures $2M in purchase orders for PowerBuoys in Latin America
$2 million in purchase orders for Next Generation PowerBuoys combining wave, solar, and wind power.
On September 30, 2026, Robert Powers departed from his role as Chief Financial Officer of the Company, upon mutual agreement with the Board.
On September 30, 2026, Robert Powers departed from his role as Chief Financial Officer of the Company, upon mutual agreement with the Board.
On July 21, 2026, the Company appointed Rear Admiral Joseph A. “Digger” DiGuardo Jr. to the Board of Directors as Acting Chairman, effective immediately.
On July 20, 2026, Terence J. Cryan notified the Company’s Board of Directors of his decision to retire from the Company’s Board of Directors, effective immediately.
Matthew Burdyny notified the Company of his intent to resign from the office of Chief Commercial Officer of the Company, which resignation will be effective June 13, 2025.
Effective January 16, 2025, as noted in Item 1.01 above, Tracy Pagliara was appointed Senior Vice President, General Counsel and Secretary of the Company.
Robert Powers, the Company’s Chief Financial Officer, will now also serve as principal accounting officer.
Effective April 26, 2024, Joseph DiPietro, the Company’s Corporate Controller, Treasurer and principal accounting officer, departed from the Company.
Effective November 9, 2023, as noted in Item 1.01 above, Matthew Burdyny was appointed Chief Commercial Officer of the Company.
Joseph DiPietro, the Company’s Controller, Treasurer and principal accounting officer, will no longer serve as acting principal financial officer.
Robert P. Powers was appointed Senior Vice President and Chief Financial Officer of the Company.
On September 21, 2021, but effective September 23, 2021, Matthew T. Shafer, Senior Vice President, Chief Financial Officer, and Treasurer, as well as principal financial officer and principal accounting officer, of the Company, resigned from the Company.
Max materiality 0.90 · Median 0.60 · Most common event other_material