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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Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed the final assembly of its AI-capable Merrows PowerBuoy for the Naval Postgraduate School (NPS). The provider of intelligent maritime solutions said the advanced system, which integrates AT&T 5G technology and subsea sensors, is designed for seamless integration with Maritime Domain Awareness platforms.

Ocean Power Technologies nearing PowerBuoy deployment for Naval Postgraduate School

MONROE TOWNSHIP, N.J., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has finalized the main assembly of the previously announced PowerBuoy® for Naval Postgraduate School.

Ocean Power Technologies Readies Shipment of AI Capable Merrows™ PowerBuoy® for Naval Postgraduate School

MONROE TOWNSHIP, N.J., Dec. 18, 2024 (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 on Thursday, December 19, 2024, at 11:00 a.m. ET.

Ocean Power Technologies to Participate in a Fireside Chat on Thursday, December 19, 2024

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q2 2025 Earnings Call Transcript December 17, 2024 9:00 AM ET Company Participants Bob Powers - SVP and CFO Philipp Stratmann - President and CEO Conference Call Participants Shawn Severson - Water Tower Research Jeff Grampp - Alliance Global Partners Brian Gordon - Water Tower Research Operator Good morning, and welcome to the Ocean Power Technologies Second Quarter of Fiscal Year 2025 Earnings Conference Call. A webcast of this call is also available and can be accessed via a link on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q2 2025 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has reported its financial results for the fiscal second quarter of 2025 marked by a 2.7x year-over-year increase in revenue to $2.4 million and a 46% reduction in its net loss to $3.9 million. The company reduced its operating expenses by 41% from the year-ago quarter.

Ocean Power Technologies reports increased revenue on strong demand for Q2

Confirms pathway to profitability in late 2025 based on record quarterly revenues and materially reduced expenses Confirms pathway to profitability in late 2025 based on record quarterly revenues and materially reduced expenses

Ocean Power Technologies Announces Financial Results for Second Quarter Fiscal 2025

Ocean Power Technologies Inc (NYSE-A:OPTT) is expected to cap off a strong 2024 with reduced losses and commercial growth opportunities, according to analysts at Water Tower Research. The manufacturer of the Wave Adaptive Modular Vessel (WAV) recently stated its guidance of achieving profitability by the fourth quarter of 2025.

Ocean Power Technologies eyes profitability as military and commercial contracts heat up: analysts

Ocean Power Technologies Inc (NYSE-A:OPTT) announced a new partnership including $3 million of purchase order commitments for its WAM-V unmanned surface vehicles (USVs) over 36 months in Latin America. The provider of intelligent maritime solutions highlighted that this builds on a previous $1.5 million order, doubling the total commitments to $3 million in the region.

Ocean Power Technologies wins $3M in purchase commitment for WAM-V USVs in Latin America

MONROE TOWNSHIP, N.J., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced a new partnership, with $3M of purchase order commitments over 36 months in Latin America.

Ocean Power Technologies Secures $3 Million in Purchase Order Commitments for WAM-V USV's in Latin America

Ocean Power Technologies Inc (NYSE-A:OPTT) has captured investor attention this week with the preliminary release of its fiscal second quarter financial results. Shares of the provider of intelligent maritime solutions have added 87% in the last five days, jumping to $0.38 per share from $0.20.

Ocean Power Technologies' operational efficiencies and strategic wins drive shareholder optimism

Ocean Power Technologies Inc (NYSE-A:OPTT) has released preliminary financial results for the second quarter of fiscal year 2025, ending October 31, 2024. These unaudited results are subject to change and will be finalized when the company files its complete financial report in mid-December.

Ocean Power Technologies expects record revenue for the fiscal second quarter

Ocean Power Technologies Pre-Releases Preliminary Financial Results for Second Quarter Fiscal 2025

Ocean Power Technologies Inc (NYSE-A:OPTT) recently highlighted strategic advancements in its defense and offshore energy sectors. Earlier this week, CEO Philipp Stratmann told Proactive about progress on Project Overmatch, an initiative with the US Navy focused on multi-domain operations that deploy multiple unmanned surface vehicles.

Ocean Power Technologies secures major US Navy project - ICYMI

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced a follow-on order for its WAM-V 8 unmanned surface vehicle from a customer in the Latin America region. This comes after several major contractual milestones were completed in the region with deliveries of a WAM-V 16 and WAM-V 22, Ocean Power Technologies said on Thursday.

Ocean Power Technologies gets follow-on order as major deliveries carried out

MONROE TOWNSHIP, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed several major contractual milestones and delivered new unmanned surface vehicles, a WAM-V 16 and a WAM-V 22, to previously announced survey customers in Latin America.

Ocean Power Technologies Secures Follow-On Order for WAM-V 8 and Delivers WAM-V 16 and WAM-V 22 to Latin America

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed a major milestone for the Naval Information Warfare Center Pacific's Project Overmatch. The provider of intelligent maritime solutions said it has completed the second set of services of the previously announced follow-on contract as a subcontractor to EpiSci, resulting in immediate revenue recognition.

Ocean Power Technologies demonstrates defense capabilities with completion of Project Overmatch milestone

MONROE TOWNSHIP, N.J., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it has completed the second set of exercises of the previously announced follow-on contract as a subcontractor to EpiSci and successfully deployed several of its WAM-V autonomous surface vehicles during the Mission Autonomy Proving Grounds (MAPG) as part of Project Overmatch.

Ocean Power Technologies Completes Major Milestone for Naval Information Warfare Center Pacific's Project Overmatch

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has appointed Remah International Group as its distributor in the UAE, marking a significant development in the company's expansion within the Middle East's defense and security sector. The agreement enables collaboration between the two companies to promote, sell, and service OPT's range of solutions, including WAM-V Unmanned Surface Vehicles, the Next Generation Powerbuoy, and AI-enabled Merrows.

Ocean Power Technologies taps Remah International Group as UAE distributor

Paradigm Shifting Development in OPT's Expansion of its Defense and Security Business in the Middle East Paradigm Shifting Development in OPT's Expansion of its Defense and Security Business in the Middle East

Ocean Power Technologies Appoints Remah International Group as Distributor in the UAE

Ocean Power Technologies Inc (NYSE-A:OPTT) announced the shipment of a WAM-V Unmanned Surface Vehicle (USV) to the United Arab Emirates (UAE). This move follows the company's partnership with Unique Group, a UAE-based provider of offshore services and equipment.

Ocean Power Technologies to showcase autonomous vehicle at Abu Dhabi event

MONROE TOWNSHIP, N.J., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has shipped a WAM-V Unmanned Surface Vehicle (“USV”) to the UAE.

Ocean Power Technologies to exhibit Autonomous Vehicle Services at ADIPEC with Unique Group

Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has entered into a service partnership with 3B General Trading & Contracting to explore offshore energy and maritime industry projects in Kuwait. The agreement will involve deploying the company's WAM-V autonomous and unmanned surface vehicles and its Next Generation PowerBuoys equipped with AI-powered Merrows technology.

Ocean Power Technologies expands in Middle East

MONROE TOWNSHIP, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed an agreement with 3B General Trading & Contracting Co. W.L.L.

Ocean Power Technologies Appoints Authorized Service Partner in Kuwait for PowerBuoys® and WAM-Vs®

MONROE TOWNSHIP, N.J., Oct. 11, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will be participating in the MicroCap Rodeo Fall Conference, which will be held on Wednesday, October 16th, 2024, in New York City.

Ocean Power Technologies to Present at the MicroCap Rodeo Fall Conference in New York City on October 16th, 2024

MONROE TOWNSHIP, N.J., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has received customer confirmation to ship to a customer in the Middle East the previously announced shipment ready AI capable Merrows™ PowerBuoy®.

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