Highest-materiality recent filing
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.
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 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 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.
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.
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.
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%.
Shareholders approved increasing available shares under 2015 Omnibus Incentive Plan from 7.28M to 27.28M and extending plan by 10 years.
OPT Q2 revenue $2.4M (up 172% YoY); net loss narrows to $3.9M; $54M convertible note facility
Revenue $2.4M for Q2FY25, 2.7x increase YoY; net loss $3.9M vs $7.2M prior year, down 46%.
Ocean Power Technologies Secures $3M in Purchase Order Commitments for WAM-V USVs in Latin America
New partnership brings $3M in purchase order commitments over 36 months for WAM-V USVs in Latin America.
Ocean Power Technologies reports preliminary Q2 FY2025 revenue above $2M, net loss down 44%
Estimated Q2 revenue greater than $2 million, more than double the $0.9 million in the prior-year period.
Ocean Power Technologies receives $1.1M NJEDA NOL award; ships PowerBuoy to Middle East
Preliminary $1.1M award from NJEDA Technology Business Tax Certificate Transfer Program (NOL program).
Revenue of $1.3M flat YoY; gross margin fell to 34% from 52% due to lower-margin pass-through revenue.
Ocean Power completes WAM-V delivery, readies PowerBuoy for Middle East, wins $1M Navy contract
Completed WAM-V USV build for Latin America survey customer; triggers revenue recognition of over $0.3M.
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 0.85 · Median 0.60 · Most common event other_material