Ocean Power Technologies

Ocean Power Technologies, Inc. engages in commercializing proprietary systems that generate electricity predominantly by harnessing the renewable energy of ocean waves. It offers PB3 PowerBuoy, which generates electricity by harnessing the renewable energy of ocean waves. It operates through the following geographical segments: North and South America, Europe, and Asia and Australia. The company was founded by George W. Taylor on April 19, 1984 and is headquartered in Monroe Township, NJ.

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Ocean Power Technologies reports fiscal growth amidst shareholder challenges

Ocean Power Technologies (OPTT) showcased technological achievements and strategic partnerships in fiscal 2024 despite financial challenges from a dissident shareholder.
With a focus on achieving profitability by the second half of calendar 2025, OPTT aims to leverage cost optimization and operational efficiencies for future success.
Dr. Stratmann's emphasis on growth trajectory, market opportunities, and shareholder value underscores OPTT's commitment to driving innovation and value creation.

Ocean Power Technologies (OPTT) reports strong Q1 results and advances in renewable energy technology

Ocean Power Technologies (OPTT) delivered improved financial performance in Q1 '25 with revenue growth, cost reductions, and a strengthened backlog, signaling positive momentum.
The company's focus on innovation, strategic partnerships, and operational efficiency positions it well for future growth and market leadership in the renewable energy sector.
While OPTT faces challenges in maintaining profitability and cash flow, opportunities lie in leveraging its technological advancements and market demand to drive sustainable growth.

Ocean Power Technologies (OPTT) achieves record revenue and eyes profitability in Q4 2025

Ocean Power Technologies (OPTT) reported strong financial performance in Q2 2025, with record revenue and reduced net losses. Strategic partnerships and market expansion efforts are driving growth, positioning the company for profitability by Q4 2025. Analysts see opportunities in global expansion and recurring revenue models for OPTT.

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Results include Third Quarter Revenue Growth of 51.7% Results include Third Quarter Revenue Growth of 51.7%

Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2023 Results

MONROE TOWNSHIP, N.J., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2023 third quarter for the period ended January 31, 2023 results after the market closes on Monday, March 13, 2023.

Ocean Power Technologies to Report 2023 Third Quarter Results on March 13, 2023

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Ocean Power Technologies to Discuss Latest Developments in Autonomous Systems and their Applications in Safeguarding Ocean Resources and Maritime Security Ocean Power Technologies to Discuss Latest Developments in Autonomous Systems and their Applications in Safeguarding Ocean Resources and Maritime Security

OPT to Participate in Third Installment of Fireside Chat Series with Water Tower Research on January 26, 2023

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Water Tower Research analyst Shawn Severson has noted that second-quarter 2023 results from Ocean Power Technologies Inc (NYSE-A:OPTT) (OPTT) showed its consulting business driving top-line growth, together with strong R&D efforts across the company's offerings. Severson pointed out that OPTT saw its Q2 revenue grow by 22.7% year-on-year to $0.3 million, compared with $0.2 million in 2Q22, with the increase was primarily due to higher levels of revenue, stemming from the acquisition of MAR, which produced $0.1 million in 2Q23, while sales of WAM-Vs also drove growth.

Ocean Power Technologies Q2 results showed its consulting business driving top-line growth, notes analyst

MONROE TOWNSHIP, N.J., Dec. 15, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that as part of the Company's ongoing commitment to connecting with the investor community, it will participate in a fireside chat hosted by Water Tower Research (WTR) at 2:00 p.m. ET on December 16, 2022 followed by a brief question-and-answer session.

Ocean Power Technologies to Participate in a Fireside Chat with Water Tower Research on Friday, December 16

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q2 2023 Earnings Conference Call December 15, 2022 9:00 AM ET Corporate Participants Joseph DiPietro - Corporate Controller and Treasurer Philipp Stratmann - President and Chief Executive Officer Bob Powers - Senior Vice President, Chief Financial Officer Conference Call Participants Shawn Severson - WTR Jeffrey Campbell - Alliance Global Partners Operator Good morning and welcome to the Ocean Power Technologies Second Quarter Fiscal 2023 Earnings Conference Call. A webcast of this call is also available on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q2 2023 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has reported a 23% increase in revenues to $0.3 million in the second quarter driven by sales of WAM-V's and an increase in Strategic Consulting Services. Losses at the low-carbon marine data, power, and consulting service solutions company fell to $4.8 million in the quarter compared to $5.2 million for the same quarter last year.

Ocean Power Technologies cuts losses as orders and revenues grow

MONROE TOWNSHIP, N.J., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced financial results for its second quarter ended October 31, 2022 (“2Q23”).

Ocean Power Technologies, Inc. Announces Second Quarter Fiscal 2023 Results

MONROE TOWNSHIP, N.J., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced that the Company's 2022 Annual Meeting of Stockholders (the “Annual Meeting”) was convened on December 14, 2022 at 9:00 AM EST and adjourned, without any business being conducted, due to lack of the required quorum.

Ocean Power Technologies Announces Adjournment of Annual Meeting of Stockholders

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Ocean Power Technologies Inc (NYSE-A:OPTT), which offers renewable energy-as-a-service for offshore applications and maritime products for commercial and military markets, is “uniquely positioned to leverage several megatrends” in the industry, noted analysts at Water Tower Research. In a note to clients, Water Tower Research said the offshore power market is expected to see "significant growth" in the coming years, with OPT focused strategically on data and Power-as-a-Service (PaaS).

Ocean Power Technologies is uniquely positioned to leverage megatrends in the offshore power industry, says Water Tower Research

Tackling illegal fishing. Marine collision avoidance.

Ocean Power Technologies is offering critical ocean intelligence services to the defense, oil and gas, offshore wind, and research markets

MONROE TOWNSHIP, N.J., Oct. 11, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that Philipp Stratmann, Chief Executive Officer, will participate in the LD Micro Main Event XV Conference.

Ocean Power Technologies to Participate in the LD Micro Main Event XV Conference

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q1 2023 Earnings Conference Call September 13, 2022 9:00 AM ET Company Participants Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Philipp Stratmann - President, Chief Executive Officer Robert Powers - Senior Vice President, Chief Financial Officer Conference Call Participants Operator Good morning and welcome to the Ocean Power Technologies First Quarter Fiscal 2023 Earnings Conference Call. A webcast of this call is also available on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q1 2023 - Earnings Call Transcript

MONROE TOWNSHIP, N.J., Sept. 13, 2022 (GLOBE NEWSWIRE) -- In a release issued on Monday, September 12 by Ocean Power Technologies, Inc. (NYSE American: OPTT), please note that the headline should have read "Fiscal 2023" and not "Fiscal 2022". The complete and corrected release follows:

CORRECTION -- Ocean Power Technologies, Inc.

MONROE TOWNSHIP, N.J., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced financial results for its first quarter ended July 31, 2022.

Ocean Power Technologies, Inc. Announces First Quarter Fiscal 2022 Results

MONROE TOWNSHIP, N.J., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that Bob Powers, Chief Financial Officer, will participate in the H.C. Wainwright & Co. 24th Annual Global Investment Conference.

Ocean Power Technologies to Participate in the H.C. Wainwright & Co. 24th Annual Global Investment Conference

MONROE TOWNSHIP, N.J., Aug. 12, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2023 first quarter after the market closes on Monday, September 12, 2022.

Ocean Power Technologies to Report 2023 First Quarter Results on Monday, September 12, 2022

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MONROE TOWNSHIP, N.J., July 18, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced that the U.S. Department of Energy (DOE) selected the Company for the Phase II development of a next-generation wave energy converter.

Ocean Power Technologies Announces DOE Award Supporting Phase II Development of Next Generation Technologies

Ocean Power Technologies Inc. (NYSE:OPTT ) Q4 2022 Earnings Conference Call July 14, 2022 9:00 AM ET Company Participants Philipp Stratmann - President, Chief Executive Officer Robert Powers - Senior Vice President, Chief Financial Officer Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Conference Call Participants Robert Silvera - RE Silvera & Associates Peter Ruggiere - Dawson James Operator Good morning and welcome to the Ocean Power Technologies fourth quarter and full year fiscal 2022 conference call. A webcast of this call is also available on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies (OPTT) CEO, Philipp Stratmann on Q4 2022 Results - Earnings Call Transcript

Revenues Increased in Fiscal 2022 as Company Executes Its Growth Strategy to be the Offshore Leader of Data-as-a-Service and Power-as-a-Service Revenues Increased in Fiscal 2022 as Company Executes Its Growth Strategy to be the Offshore Leader of Data-as-a-Service and Power-as-a-Service

Ocean Power Technologies, Inc. Announces Fourth Quarter and Full-Year Fiscal 2022 Results

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