What is Ocean Power Technologies, Inc.'s earnings per share (EPS)?

Ocean Power Technologies, Inc. (OPTT) reported diluted earnings per share of -$0.25 for fiscal year 2026. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ocean Power Technologies, Inc. (OPTT) Financials

OPTT

Trailing 12 months to July 31, 2026

Revenue $4.3M -25.8% YoY

Net Income -$52.1M -90.0% YoY

EPS (Diluted) -$1.49 YoY not available

Free Cash Flow -$28.1M -39.1% YoY

Market Cap $5.5M as of Oct 17, 2026

Price / Sales 1.3x on $4.3M revenue, trailing 12 months to July 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to July 31, 2026

Price / Book 0.7x on $8.5M equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Jul 31, 2026 Reported Sep 14, 2026 Currency USD FYE April

Newest figures come from the 10-Q for Q1 FY2027, filed Sep 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OPTT SEC filings page.

Ocean Power Technologies, Inc. (OPTT) reported $4.3M in revenue over the twelve months to Jul 31, 2026, down 25.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OPTT FY2026 2026-10-04

Development-stage economics remain unresolved: FY2026 revenue fell, costs exceeded sales, and financing—not operations—provided the cash.

The gap between a net loss of $49.0M and operating cash outflow of $20.8M indicates that reported expenses were not entirely immediate cash payments, but the business still consumed cash from operations. Meanwhile, financing supplied $26.8M as the current ratio fell to 0.6x and debt-to-equity rose to 1.0x, shifting the balance sheet toward external funding.

FY2026 gross margin swung from 28.3% to -158.4% while revenue declined to $3.7M; costs therefore rose faster than sales, rather than scale improving the model. The resulting operating margin of -1,026.6% shows that fixed operating expenses remain large relative to the revenue base.

Earlier disclosed R&D spending fell from $7.7M in FY2024 to $3.6M in FY2025, while operating cash outflow remained substantial and FY2026 free cash flow was negative at $24.8M. Together with only five months of reported outflow in liquidity, this describes a company still dependent on capital access while commercial revenue remains small.

Financial Health Signals

Financial Health Score 25/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ocean Power Technologies, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Ocean Power Technologies, Inc. held $8.7M in cash, cash equivalents and investments at the end of fiscal year 2026, and its operations used $20.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ocean Power Technologies, Inc. scores 18/100 among other emerging companies.

Dilution

Ocean Power Technologies, Inc. had 270M shares outstanding at the end of fiscal year 2026. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ocean Power Technologies, Inc. scores 15/100 among other emerging companies.

R&D Intensity

Not available for Ocean Power Technologies, Inc., and counted as zero in the overall score.

Revenue Progress

Ocean Power Technologies, Inc. reported revenue of $3.7M in fiscal year 2026, against $5.9M in fiscal year 2025. Revenue Progress ranks emerging companies on the three-year path of that line, and Ocean Power Technologies, Inc. scores 21/100 among other emerging companies.

Burn Trend

Ocean Power Technologies, Inc.'s operations used $20.8M of cash in fiscal year 2026, against $18.6M used in fiscal year 2025. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ocean Power Technologies, Inc. scores 61/100 among other emerging companies.

Balance Sheet

Ocean Power Technologies, Inc.'s cash, cash equivalents and investments came to $8.7M at the end of fiscal year 2026, against $27.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ocean Power Technologies, Inc. scores 34/100 among other emerging companies.

Altman Z-Score Distress

-16.63

Ocean Power Technologies, Inc. scores -16.63, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($5.5M) relative to total liabilities ($27.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

1/8

Ocean Power Technologies, Inc. passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Ocean Power Technologies, Inc. reported a net loss of $48.9M while operations used $20.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Ocean Power Technologies, Inc. reported an operating loss of $38.4M against $124K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$1.7M

YoY+44.1%

QoQ+5.3%

5Y CAGR+44.3%

Ocean Power Technologies, Inc. generated $1.7M in revenue in Q1 2027. This represents an increase of 44.1% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.

EBITDA

-$14.8M

YoY-115.4%

QoQ-25.6%

Ocean Power Technologies, Inc.'s EBITDA was -$14.8M in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 115.4% from the same quarter a year earlier. Against the prior quarter it is down 25.6%.

Net Income

-$10.5M

YoY-42.6%

QoQ+45.5%

Ocean Power Technologies, Inc. reported -$10.5M in net income in Q1 2027. This represents a decrease of 42.6% from the same quarter a year earlier. Against the prior quarter it is up 45.5%.

EPS (Diluted)

-$1.28

YoY0.0%

Ocean Power Technologies, Inc. earned -$1.28 per diluted share (EPS) in Q1 2027. That is unchanged from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

-$10.4M

YoY-46.8%

QoQ-233.8%

Ocean Power Technologies, Inc. recorded an outflow of $10.4M in free cash flow in Q1 2027, representing a cash shortfall after capex. This represents a decrease of 46.8% from the same quarter a year earlier. Against the prior quarter it is down 233.8%.

Cash & Debt

$7.4M

YoY-25.4%

QoQ-15.6%

5Y CAGR-37.6%

10Y CAGR-2.0%

Ocean Power Technologies, Inc. held $7.4M in cash against $9.9M in long-term debt as of Q1 2027.

Shares Outstanding

270M

YoY+47.6%

5Y CAGR+38.8%

10Y CAGR+56.0%

Ocean Power Technologies, Inc. had 270M shares outstanding in Q1 2027. This represents an increase of 47.6% from the same quarter a year earlier.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Return on Equity

-124.6%

YoY-94.1pp

QoQ+30.3pp

5Y change-120.7pp

Ocean Power Technologies, Inc.'s ROE was -124.6% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 94.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 30.3 percentage points.

Gross Margin

Not shown for Q1 2027: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Operating Margin

Not shown for Q1 2027: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q1 2027: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Capital Expenditures

$124K

YoY-91.5%

QoQ-94.5%

5Y CAGR+77.7%

Ocean Power Technologies, Inc. invested $124K in capex in Q1 2027, funding long-term assets and infrastructure. This represents a decrease of 91.5% from the same quarter a year earlier. Against the prior quarter it is down 94.5%.

R&D Spending

Not reported for Q1 2027.

Share Buybacks

Not reported for Q1 2027.

OPTT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPTT quarterly income statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$4.3M	$3.7M-36.2%	$5.9M+6.1%	$5.5M+102.2%	$2.7M+55.3%	$1.8M+45.9%	$1.2M-29.1%	$1.7M+183.3%	$600K+17.4%	$511K-39.4%	$843K+19.6%	$705K-82.8%	$4.1M+173.9%	$1.5M-58.5%	$3.6M-37.0%	$5.7M
Cost of Revenue	$13.0M	$9.7M+129.9%	$4.2M+55.7%	$2.7M+8.1%	$2.5M+34.2%	$1.9M-18.4%	$2.3M+27.5%	$1.8M+37.1%	$1.3M+70.8%	$763K-18.7%	$938K+40.4%	$668K-85.7%	$4.7M+209.3%	$1.5M-56.6%	$3.5M-38.8%	$5.7M
Gross Profit	-$8.7M	-$5.9M-456.7%	$1.7M-41.3%	$2.8M+1097.5%	$236K+333.7%	-$101K+90.6%	-$1.1M-921.9%	-$105K+84.4%	-$671K-166.3%	-$252K-165.3%	-$95K-356.8%	$37K+106.5%	-$566K-4845.6%	-$11K-108.5%	$135K+147.0%	$55K
R&D Expenses	N/A	N/A	$3.6M-53.2%	$7.7M-23.0%	$10.0M	N/A	$4.7M+9.3%	$4.3M-12.8%	$5.0M+15.4%	$4.3M-14.1%	$5.0M-28.7%	$7.1M+69.9%	$4.1M-9.1%	$4.6M-37.7%	$7.3M-12.1%	$8.3M
SG&A Expenses	$5.1M	$3.6M+23.5%	$2.9M	N/A	N/A	N/A	$7.8M+12.4%	$6.9M-9.2%	$7.6M+9.0%	$7.0M+6.5%	$6.6M-2.7%	$6.7M-29.5%	$9.6M+2.3%	$9.4M+2.5%	$9.1M+10.3%	$8.3M
Operating Income	-$46.4M	-$38.4M-76.9%	-$21.7M+26.1%	-$29.3M-0.4%	-$29.2M-35.6%	-$21.6M-58.6%	-$13.6M-19.6%	-$11.4M+14.4%	-$13.3M-14.8%	-$11.6M+1.1%	-$11.7M+21.3%	-$14.9M-4.0%	-$14.3M-8.6%	-$13.2M+19.4%	-$16.3M+1.4%	-$16.6M
EBITDA	N/A	-$37.3M-79.7%	-$20.8M+28.1%	-$28.9M+0.4%	-$29.0M-35.6%	-$21.4M-59.2%	-$13.4M-20.0%	-$11.2M+14.4%	-$13.1M-14.5%	-$11.4M+0.9%	-$11.5M+21.7%	-$14.7M-10.7%	-$13.3M-4.7%	-$12.7M+19.5%	-$15.8M+1.9%	-$16.1M
Interest Expense	$712K	$124K+163.8%	$47K-94.1%	$800K-11.3%	$902K+627.4%	$124K0.0%	$124K0.0%	$124K+254.3%	$35K-57.8%	$83K+196.4%	$28K+250.0%	$8K+125.3%	-$32K-206.7%	$30K-76.5%	$126K	N/A
Income Tax	N/A	N/A	-$1.0M+17.5%	-$1.3M-351.1%	-$278K+84.8%	-$1.8M	N/A	-$895K-5.3%	-$850K+24.0%	-$1.1M-60.3%	-$698K+58.3%	-$1.7M-47.1%	-$1.1M+34.8%	-$1.7M-20.1%	-$1.5M-38.0%	-$1.1M
Net Income	-$52.1M	-$48.9M-99.9%	-$24.5M+11.0%	-$27.5M-4.4%	-$26.3M-39.5%	-$18.9M-27.9%	-$14.8M-42.6%	-$10.4M+15.5%	-$12.2M-20.6%	-$10.2M-7.1%	-$9.5M+27.7%	-$13.1M-0.1%	-$13.1M-19.6%	-$11.0M+25.3%	-$14.7M+3.0%	-$15.1M
EPS (Basic)	N/A	-$0.25-31.6%	-$0.19+59.6%	-$0.470.0%	-$0.47-34.3%	-$0.35+28.6%	-$0.49	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$1.49	-$0.25	-$0.19	-$0.470.0%	-$0.47-34.3%	-$0.35	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	194M	127M	59M+5.4%	56M-99.9%	54.01B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Revenue	$1.7M+44.1%	$1.6M+22.9%	$513K-37.8%	$424K-82.5%	$1.2M-9.1%	$1.3M-16.2%	$825K-54.0%	$2.4M+172.0%
Cost of Revenue	$4.5M+276.3%	$5.4M+391.0%	$1.3M+101.9%	$1.8M+11.2%	$1.2M+41.1%	$1.1M+54.4%	$628K-35.9%	$1.6M+304.7%
Gross Profit	-$2.8M-12208.7%	-$3.8M-1802.7%	-$755K-483.2%	-$1.4M-273.6%	-$23K-105.1%	$221K-74.4%	$197K-75.8%	$795K+62.9%
R&D Expenses	N/A	N/A	$600K-14.3%	$300K-50.0%	$600K+20.0%	$1.8M-18.2%	$700K-53.3%	$600K-71.4%
SG&A Expenses	$2.2M+241.3%	$1.4M	$849K+7.6%	$674K+30.1%	$652K	N/A	$789K	$518K
Operating Income	-$15.1M-113.0%	-$12.0M-62.3%	-$9.1M-55.2%	-$10.1M-158.6%	-$7.1M-58.2%	-$7.4M-9.7%	-$5.9M+23.8%	-$3.9M+47.7%
EBITDA	-$14.8M-115.4%	-$11.7M-62.5%	-$8.9M-55.6%	-$9.9M-172.3%	-$6.9M-61.7%	-$7.2M-7.8%	-$5.7M+24.7%	-$3.6M+50.6%
Interest Expense	$278K+189.7%	$1.7M+4825.7%	-$726K-12200.0%	-$564K-18900.0%	-$310K-10433.3%	$35K-12.5%	$6K-96.0%	$3K-98.9%
Net Income	-$10.5M-42.6%	-$19.3M-106.1%	-$11.4M-69.1%	-$10.8M-176.6%	-$7.4M-65.9%	-$9.4M-39.5%	-$6.7M-3.2%	-$3.9M+45.8%
EPS (Basic)	-$1.280.0%	-$0.09-125.0%	-$0.06-50.0%	-$0.06-50.0%	-$1.28-2460.0%	-$0.04+66.7%	-$0.04+63.6%	-$0.04+66.7%
EPS (Diluted)	-$1.280.0%	-$0.09-125.0%	-$0.06-50.0%	-$0.06	-$1.28	-$0.04	-$0.04	-$0.04
Diluted Shares (Avg)	8M+42.9%	N/A	195M+32.5%	184M	6M	N/A	148M	108M

Not reported in any period shown, so not listed: Income Tax.

OPTT Balance Sheet

OPTT quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$39.9M+29.6%	$30.8M+7.3%	$28.7M-46.2%	$53.4M-27.3%	$73.4M-15.0%	$86.4M+538.0%	$13.5M-26.3%	$18.4M+30.1%	$14.1M+40.2%	$10.1M-2.7%	$10.4M-45.1%	$18.9M-50.5%	$38.1M+53.4%	$24.8M-33.7%	$37.4M
Current Assets	$15.9M+16.7%	$13.6M+29.1%	$10.5M-72.0%	$37.7M-36.5%	$59.3M-29.8%	$84.4M+624.6%	$11.7M-33.9%	$17.6M+32.9%	$13.3M+36.0%	$9.7M-0.1%	$9.8M-46.4%	$18.2M-48.5%	$35.4M+65.0%	$21.4M-36.6%	$33.9M
Cash & Equivalents	$8.7M+29.8%	$6.7M+113.1%	$3.2M-54.2%	$6.9M-12.7%	$7.9M-90.5%	$83.0M+730.1%	$10.0M-40.0%	$16.7M+44.9%	$11.5M+36.6%	$8.4M+25.1%	$6.7M-61.2%	$17.3M+25.1%	$13.9M+117.5%	$6.4M-31.9%	$9.4M
Short-Term Investments	$0	$0	$0-100.0%	$27.8M-43.7%	$49.4M	$0	$0	$0-100.0%	$25K0.0%	$25K0.0%	$25K-66.7%	$75K-99.5%	$14.5M+3.6%	$14.0M-37.4%	$22.4M
Inventory	$3.2M-24.4%	$4.2M-12.6%	$4.8M+362.7%	$1.0M+136.2%	$442K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$587K-50.7%	$1.2M+49.6%	$796K+6.8%	$745K+54.6%	$482K+37.7%	$350K+233.3%	$105K+66.7%	$63K-63.2%	$171K+256.3%	$48K	N/A	$103K-66.5%	$309K-61.2%	$796K-25.2%	$1.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$27.4M+562.8%	$4.1M-55.8%	$9.4M-0.6%	$9.4M+106.5%	$4.6M-22.8%	$5.9M+94.1%	$3.0M+17.5%	$2.6M-33.3%	$3.9M-16.0%	$4.6M-32.2%	$6.8M+89.0%	$3.6M-63.8%	$10.0M+48.8%	$6.7M+25.8%	$5.3M
Current Liabilities	$26.4M+702.9%	$3.3M-55.3%	$7.4M-6.9%	$7.9M+165.5%	$3.0M-36.6%	$4.7M+146.8%	$1.9M-22.2%	$2.4M-34.7%	$3.7M-18.7%	$4.6M-25.4%	$6.2M+108.4%	$3.0M-67.9%	$9.2M+64.1%	$5.6M+12.9%	$5.0M
Non-Current Liabilities	$1.0M+22.1%	$852K-57.4%	$2.0M+32.2%	$1.5M-4.4%	$1.6M+30.4%	$1.2M+6.3%	$1.1M+677.6%	$147K+3.5%	$142K+517.4%	$23K-96.5%	$655K+0.8%	$650K-13.3%	$750K-30.7%	$1.1M+209.2%	$350K
Long-Term Debt	$12.0M	N/A	N/A	N/A	N/A	$396K	N/A	N/A	N/A	$23K-58.2%	$55K+10.0%	$50K0.0%	$50K-80.0%	$250K-28.6%	$350K
Total Equity	$12.5M-53.2%	$26.7M+37.8%	$19.3M-56.0%	$44.0M-36.1%	$68.8M-14.5%	$80.5M+666.9%	$10.5M-33.5%	$15.8M+54.1%	$10.2M+87.9%	$5.4M+54.4%	$3.5M-77.5%	$15.7M-44.9%	$28.5M+55.7%	$18.3M-43.1%	$32.1M
Retained Earnings	-$381.0M-14.7%	-$332.0M-8.0%	-$307.6M-9.8%	-$280.1M-10.4%	-$253.8M-8.0%	-$234.9M-6.7%	-$220.1M-4.9%	-$209.8M-6.2%	-$197.5M-5.4%	-$187.4M-5.3%	-$177.9M-8.0%	-$164.8M-8.6%	-$151.6M-7.8%	-$140.7M-11.7%	-$126.0M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Total Assets	$38.7M+5.7%	$39.9M+29.6%	$41.1M+19.6%	$39.3M+45.9%	$36.6M+25.5%	$30.8M+7.3%	$34.4M-0.5%	$26.9M-32.0%
Current Assets	$15.4M-16.0%	$15.9M+16.7%	$21.1M+25.4%	$18.9M+100.9%	$18.4M+65.8%	$13.6M+29.1%	$16.8M-4.1%	$9.4M-60.5%
Cash & Equivalents	$7.4M-25.4%	$8.7M+29.8%	$7.1M-29.6%	$11.7M+457.3%	$9.9M+209.9%	$6.7M+113.1%	$10.0M+112.4%	$2.1M-36.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$0-100.0%
Inventory	$4.6M-6.4%	$3.2M-24.4%	$5.2M+32.6%	$4.7M-1.7%	$4.9M-14.4%	$4.2M-12.6%	$3.9M+14.1%	$4.8M+87.5%
Accounts Receivable	$1.2M-43.4%	$587K-50.7%	$6.1M+277.1%	$1.1M-38.4%	$2.2M+129.2%	$1.2M+49.6%	$1.6M+160.2%	$1.8M+245.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%
Total Liabilities	$30.3M+143.4%	$27.4M+562.8%	$21.1M+283.1%	$17.0M+252.6%	$12.4M+80.9%	$4.1M-55.8%	$5.5M-40.9%	$4.8M-39.4%
Current Liabilities	$29.5M+154.1%	$26.4M+702.9%	$19.7M+353.6%	$15.4M+354.6%	$11.6M+126.0%	$3.3M-55.3%	$4.3M-38.3%	$3.4M-49.6%
Non-Current Liabilities	$725K-10.4%	$1.0M+22.1%	$1.4M+17.3%	$1.7M+14.5%	$809K-53.2%	$852K-57.4%	$1.2M-49.2%	$1.4M+14.6%
Long-Term Debt	$9.9M	$12.0M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.5M-65.1%	$12.5M-53.2%	$20.1M-30.5%	$22.3M+0.8%	$24.2M+8.4%	$26.7M+37.8%	$28.9M+14.4%	$22.1M-30.1%
Retained Earnings	-$391.5M-16.4%	-$381.0M-14.7%	-$358.7M-11.2%	-$347.3M-9.9%	-$336.5M-7.8%	-$332.0M-8.0%	-$322.7M-7.2%	-$315.9M-7.3%

OPTT Cash Flow Statement

OPTT quarterly cash flow statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	-$25.4M	-$20.8M-11.5%	-$18.6M+37.4%	-$29.8M-37.1%	-$21.7M-1.9%	-$21.3M-82.4%	-$11.7M-10.4%	-$10.6M+12.9%	-$12.1M-13.5%	-$10.7M-6.6%	-$10.0M+8.2%	-$10.9M+36.4%	-$17.2M-164.3%	-$6.5M+40.1%	-$10.8M+22.1%	-$13.9M
Depreciation & Amortization	N/A	$1.0M+13.7%	$904K+115.2%	$420K+129.5%	$183K+27.1%	$144K+0.7%	$143K-9.5%	$158K-12.2%	$180K+47.5%	$122K-12.9%	$140K+25.0%	$112K-88.4%	$965K+128.8%	$422K-16.0%	$502K+15.1%	$436K
Stock-Based Compensation	N/A	$9.5M+106.1%	$4.6M+298.5%	$1.2M-20.9%	$1.5M+25.0%	$1.2M+62.1%	$721K+112.1%	$340K+15.3%	$295K-10.3%	$329K-73.3%	$1.2M+266.7%	$336K+1.0%	$333K-56.9%	$772K-10.2%	$859K-23.4%	$1.1M
Capital Expenditures	$2.7M	$4.0M+693.7%	$505K-80.5%	$2.6M+298.9%	$648K+346.9%	$145K+457.7%	$26K-60.0%	$65K+20.4%	$54K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	-$28.1M	-$24.8M-29.5%	-$19.1M+40.8%	-$32.3M-44.7%	-$22.4M-4.3%	-$21.4M-83.3%	-$11.7M-9.9%	-$10.6M+12.7%	-$12.2M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.7M	-$4.0M-693.7%	-$505K-102.0%	$25.5M+24.6%	$20.5M+137.9%	-$54.0M-73114.9%	$74K+213.8%	-$65K-124.1%	-$29K+95.6%	-$658K-5161.5%	$13K-88.7%	$115K-99.5%	$21.2M+428.5%	-$6.4M-180.0%	$8.1M-58.3%	$19.3M
Financing Cash Flow	$25.6M	$26.8M+18.0%	$22.7M+4740.7%	$469K+3450.0%	-$14K-116.1%	$87K-99.9%	$84.2M+1792.7%	$4.4M-74.1%	$17.2M+17.8%	$14.6M+22.1%	$11.9M+5330.5%	$220K+318.6%	-$101K-100.5%	$20.4M+16912.2%	-$122K+39.0%	-$199K
Share Buybacks	N/A	N/A	N/A	$14K0.0%	$14K+366.7%	$3K-91.7%	$36K+3500.0%	$1K0.0%	$1K-97.3%	$37K-70.4%	$125K+1983.3%	$6K+358.4%	$1K-80.8%	$7K-68.3%	$22K-64.0%	$60K

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Operating Cash Flow	-$10.2M-82.7%	-$851K+78.8%	-$6.8M-81.6%	-$7.5M-58.0%	-$5.6M+8.5%	-$4.0M+20.7%	-$3.7M+59.4%	-$4.8M+36.5%
Depreciation & Amortization	$319K+40.5%	$297K+53.9%	$267K+42.0%	$237K-16.8%	$227K-4.2%	$193K+221.7%	$188K+27.0%	$285K+102.1%
Stock-Based Compensation	$1.8M-23.8%	N/A	$2.6M+232.5%	$2.8M+856.2%	$2.4M+826.3%	N/A	$782K+682.0%	$292K-2.7%
Capital Expenditures	$124K-91.5%	$2.3M+1354.2%	$35K-84.2%	$266K+8.1%	$1.5M+288.5%	$155K-88.6%	$222K-57.8%	-$246K-56.5%
Free Cash Flow	-$10.4M-46.8%	-$3.1M+25.4%	-$6.8M-72.3%	-$7.8M-55.6%	-$7.1M-8.6%	-$4.2M+35.1%	-$4.0M+59.4%	-$5.0M+37.9%
Investing Cash Flow	-$124K+91.5%	-$2.3M-1354.2%	-$35K+84.2%	-$266K-208.1%	-$1.5M-288.5%	-$155K-105.1%	-$222K-102.1%	$246K-96.4%
Financing Cash Flow	$9.0M-11.8%	$4.8M+460.9%	$2.2M-81.3%	$9.6M+179.8%	$10.2M+56.3%	$850K+87.6%	$11.9M+108227.3%	$3.4M+11727.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

OPTT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPTT quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	-158.4%	28.3%-22.8pp	51.1%+42.5pp	8.6%+14.4pp	-5.7%+83.2pp	-89.0%-82.8pp	-6.2%	-111.8%	-49.3%-38.1pp	-11.3%-16.5pp	5.3%+19.0pp	-13.8%-13.0pp	-0.8%-4.5pp	3.7%+2.8pp	0.9%
Operating Margin	-1026.6%	-370.0%	-530.9%	-1069.4%	-1225.3%	-1127.0%	-668.5%	-2211.8%	-2262.2%	-1386.4%	-2107.5%	-348.0%	-877.3%	-451.3%	-288.5%
Net Margin	-1308.9%	-417.4%	-497.4%	-963.6%	-1073.0%	-1223.9%	-608.9%	-2041.0%	-1987.7%	-1125.3%	-1862.3%	-319.4%	-731.8%	-406.0%	-263.8%
Return on Equity	-392.1%-300.3pp	-91.8%+50.3pp	-142.1%-82.2pp	-59.9%-32.5pp	-27.4%-9.1pp	-18.3%+80.3pp	-98.7%-21.0pp	-77.6%+21.6pp	-99.2%+74.9pp	-174.2%+198.0pp	-372.1%-288.5pp	-83.6%-45.1pp	-38.5%+41.8pp	-80.3%-33.2pp	-47.1%
Return on Assets	-122.5%-43.1pp	-79.5%+16.3pp	-95.8%-46.4pp	-49.3%-23.6pp	-25.7%-8.6pp	-17.1%+59.4pp	-76.5%-9.8pp	-66.7%+5.3pp	-71.9%+22.2pp	-94.2%+32.7pp	-126.8%-57.3pp	-69.5%-40.7pp	-28.8%+30.3pp	-59.1%-18.7pp	-40.4%
Current Ratio	0.60-3.5x	4.14+2.7x	1.43-3.3x	4.76-15.1x	19.91+1.9x	17.99+11.9x	6.13-1.1x	7.21+3.7x	3.54+1.4x	2.12+0.5x	1.58-4.6x	6.16+2.3x	3.830.0x	3.81-3.0x	6.79
Debt-to-Equity	0.96+0.8x	0.16-0.3x	0.48+0.3x	0.21+0.1x	0.07+0.1x	0.00-0.3x	0.29+0.1x	0.16-0.2x	0.38+0.4x	0.000.0x	0.020.0x	0.000.0x	0.000.0x	0.010.0x	0.01
Asset Turnover	0.09-0.1x	0.190.0x	0.19+0.1x	0.050.0x	0.020.0x	0.01-0.1x	0.13+0.1x	0.030.0x	0.040.0x	0.080.0x	0.07-0.1x	0.22+0.2x	0.04-0.1x	0.150.0x	0.15
FCF Margin	-663.2%	-326.6%	-585.5%	-818.3%	-1218.9%	-970.1%	-626.1%	-2032.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Gross Margin	-166.2%	-232.6%	-147.2%	-325.5%	-1.9%-36.3pp	16.8%-38.0pp	23.9%-21.5pp	32.9%-22.0pp
Operating Margin	-885.3%	-744.4%	-1777.4%	-2387.5%	-598.8%	-563.6%	-712.1%	-161.9%
Net Margin	-618.7%	-1195.1%	-2215.6%	-2553.1%	-625.0%	-712.2%	-814.6%	-161.8%
Return on Equity	-124.6%-94.1pp	-155.0%-119.8pp	-56.6%-33.3pp	-48.5%-30.9pp	-30.5%-10.6pp	-35.2%-0.4pp	-23.2%+2.5pp	-17.7%+5.1pp
Return on Assets	-27.2%-7.0pp	-48.4%-18.0pp	-27.6%-8.1pp	-27.5%-13.0pp	-20.2%-4.9pp	-30.5%-7.0pp	-19.5%-0.7pp	-14.5%+3.7pp
Current Ratio	0.52-1.1x	0.60-3.5x	1.07-2.8x	1.23-1.6x	1.58-0.6x	4.14+2.7x	3.88+1.4x	2.79-0.8x
Debt-to-Equity	1.17+0.7x	0.96+0.8x	1.05+0.9x	0.76+0.5x	0.51+0.2x	0.16-0.3x	0.19-0.2x	0.220.0x
Asset Turnover	0.040.0x	0.040.0x	0.010.0x	0.01-0.1x	0.030.0x	0.040.0x	0.020.0x	0.09+0.1x
FCF Margin	-608.6%	-191.9%	-1330.0%	-1838.9%	-597.1%	-315.9%	-480.0%	-207.3%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Note: The current ratio is below 1.0 (0.60), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Ocean Power Technologies, Inc. OPTT	FY2026	$3.7M	-$48.9M	N/A	$5.5M	25/100
Hurco Cos Inc HURC	FY2025	$178.6M	-$15.1M	-8.5%	$137.3M	40/100
XCHG Limited XCH	FY2025	$25.1M	-$32.5M	N/A	$10.4M	30/100
NET Power Inc. NPWR	FY2025	$0	-$578.6M	N/A	$88.5M	—
Taylor Devices Inc TAYD	FY2026	$41.6M	$8.6M	20.6%	$174.6M	72/100

Where Ocean Power Technologies, Inc. Ranks

Frequently Asked Questions

What is Ocean Power Technologies, Inc.'s annual revenue?

Ocean Power Technologies, Inc. (OPTT) reported $3.7M in total revenue for fiscal year 2026. This represents a -36.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ocean Power Technologies, Inc.'s revenue growing?

Ocean Power Technologies, Inc. (OPTT) revenue declined by 36.2% year-over-year, from $5.9M to $3.7M in fiscal year 2026.

Is Ocean Power Technologies, Inc. profitable?

No, Ocean Power Technologies, Inc. (OPTT) reported a net income of -$48.9M in fiscal year 2026.

What is Ocean Power Technologies, Inc.'s EBITDA?

Ocean Power Technologies, Inc. (OPTT) had EBITDA of -$37.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ocean Power Technologies, Inc. have?

As of fiscal year 2026, Ocean Power Technologies, Inc. (OPTT) had $8.7M in cash and equivalents against $12.0M in long-term debt.

What is Ocean Power Technologies, Inc.'s return on equity (ROE)?

Ocean Power Technologies, Inc. (OPTT) has a return on equity of -392.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Ocean Power Technologies, Inc.'s free cash flow?

Ocean Power Technologies, Inc. (OPTT) recorded an outflow of $24.8M in free cash flow during fiscal year 2026. This represents a -29.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ocean Power Technologies, Inc.'s operating cash flow?

Ocean Power Technologies, Inc. (OPTT) recorded an outflow of $20.8M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Ocean Power Technologies, Inc.'s total assets?

Ocean Power Technologies, Inc. (OPTT) had $39.9M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Ocean Power Technologies, Inc.'s capital expenditures?

Ocean Power Technologies, Inc. (OPTT) invested $4.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How many shares does Ocean Power Technologies, Inc. have outstanding?

Ocean Power Technologies, Inc. (OPTT) had 270M shares outstanding as of fiscal year 2026.

What is Ocean Power Technologies, Inc.'s current ratio?

Ocean Power Technologies, Inc. (OPTT) had a current ratio of 0.60 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.

What is Ocean Power Technologies, Inc.'s debt-to-equity ratio?

Ocean Power Technologies, Inc. (OPTT) had a debt-to-equity ratio of 0.96 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ocean Power Technologies, Inc.'s return on assets (ROA)?

Ocean Power Technologies, Inc. (OPTT) had a return on assets of -122.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Ocean Power Technologies, Inc.'s P/E ratio?

Ocean Power Technologies, Inc. (OPTT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to July 31, 2026). The market capitalization is $5.5M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Ocean Power Technologies, Inc.'s price-to-sales ratio?

Ocean Power Technologies, Inc. (OPTT) trades at 1.3x sales, its market capitalization divided by revenue of $4.3M revenue, trailing 12 months to July 31, 2026. The market capitalization is $5.5M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Ocean Power Technologies, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2026, Ocean Power Technologies, Inc. (OPTT) held $8.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $20.8M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Ocean Power Technologies, Inc.'s Altman Z-Score?

Ocean Power Technologies, Inc. (OPTT) has an Altman Z-Score of -16.63, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Ocean Power Technologies, Inc.'s Piotroski F-Score?

Ocean Power Technologies, Inc. (OPTT) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ocean Power Technologies, Inc.'s earnings high quality?

Ocean Power Technologies, Inc. (OPTT) reported a net loss of $48.9M while operations used $20.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ocean Power Technologies, Inc. cover its interest payments?

Ocean Power Technologies, Inc. (OPTT) reported an operating loss of $38.4M against $124K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ocean Power Technologies, Inc.?

Ocean Power Technologies, Inc. (OPTT) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.