Ocean Power Technologies develops intelligent maritime power, data and autonomy solutions for defense and security, offshore energy, science and research, and offshore wind customers. Its recurring news centers on PowerBuoy® offshore power and communications systems, WAM-V® autonomous surface vessels, Merrows™ maritime domain awareness integration, marine robotics services, and low-carbon infrastructure for remote ocean operations.
Company updates commonly cover customer orders, government and commercial deployments, autonomous docking and charging capabilities, maritime domain awareness programs, international shipments, quarterly results, backlog and sales pipeline commentary, and participation in investor events. OPTT news also reflects work on persistent offshore monitoring, communications relay, autonomous navigation, and support for maritime security and infrastructure protection missions.
Ocean Power Technologies (OPTT) received an order from the Naval Postgraduate School for a WAM-V 8 maritime drone for coastal research.
Researchers in the school's Consortium for Robotics and Unmanned Systems Education & Research plan to use the drone for coastal sensing and autonomous-systems research, including integrating atmospheric and electro-optical instruments. The order expands an existing relationship that included an OPT PowerBuoy deployed in Monterey Bay for oceanographic, meteorological, communications and maritime-sensing research. The WAM-V 8 adds a mobile research asset alongside that persistent sensing infrastructure.
Ocean Power Technologies (OPTT) completed a proof of concept deploying Greensea IQ’s Bayonet 150 amphibious vehicle offshore from a modified WAM-V 16.
The WAM-V transported the 300-pound vehicle, triggered its release remotely and safely deployed its connecting cable. Bayonet then operated under Greensea IQ’s control system and completed its transit from the offshore release point to the beach. Greensea IQ requested the demonstration, which focused on transport, deployment and safe separation between the vehicles.
Ocean Power Technologies (OPTT) deployed three classes of its WAM-V unmanned surface vessels across five mission sets during the REPMUS 2026 multinational robotic experimentation exercise in Portugal.
The WAM-V 8 performed rapid environmental assessment and bathymetric surveys in amphibious surf zones, while the WAM-V 16 supported mine countermeasures and harbor security in beach and harbor approaches. The WAM-V 22 executed above‑water warfare tasks, including surface target identification and intelligence, surveillance and reconnaissance. OPT vessels integrated with U.S. command and control and were the only U.S. unmanned surface vessels to do so, with a WAM-V 22 also used to train U.S. Navy and Marine Corps personnel in basic autonomous operations.
Ocean Power Technologies (OPTT) conducted a formally evaluated demonstration of its WAM-V® 8 autonomous vessel in challenging surf-zone conditions at the U.S. Army Corps of Engineers’ Engineer Research and Development Center Field Research Facility in Duck, North Carolina. The testing generated data and operational insights to support development of OPT’s larger 16- and 22-foot WAM-V platforms for demanding near-shore environments, including assessments of sensor performance, vehicle configuration, sensor deployment methods, and potential design, operational, and safety improvements aligned with customer requirements.
Ocean Power Technologies (OPTT) reported fiscal Q1 2027 results for the quarter ended July 31, 2026, highlighting growth in revenue and backlog alongside substantially higher losses and cash burn.
Revenue rose 44% year over year to $1.7 million, driven by a jump in lease revenue to $657,000 from $67,000. Backlog increased to $19.1 million, up from $15.0 million a year earlier, and the sales pipeline reached $150.8 million, up 13% year over year. However, cost of revenues surged to $4.5 million, resulting in a gross loss of $2.8 million, and operating expenses increased to $12.2 million, producing an operating loss of $15.1 million and a net loss of $10.5 million.
Cash, cash equivalents and short-term investments totaled $7.4 million, with net cash used in operations of $10.2 million. The company advanced multiple defense and research deployments, acquired subsea technology assets from C-Power, achieved CMMC Level 2 compliance, and began a Board-led review of strategic alternatives.
Ocean Power Technologies (OPTT) announced a leadership realignment effective September 14, 2026, aimed at improving commercial execution, backlog conversion and operational accountability.
By mutual agreement, Dr. Philipp Stratmann has stepped down as President, Chief Executive Officer and Board member, and will assist during a transition period. Tracy Pagliara, currently Senior Vice President, General Counsel and Secretary, becomes Acting CEO, President and a Board member, bringing prior public-company CEO and CPA experience. Jason Weed, previously Senior Vice President, Commercial Sales, is appointed Chief Operating Officer, overseeing commercial sales, operations and technology and innovation to create clear accountability from customer opportunity through execution and delivery. The company states it remains focused on its maritime autonomy and Maritime Domain Awareness strategy.
Ocean Power Technologies (OPTT) has approved a 1-for-30 reverse stock split of its common stock, with split-adjusted trading on the NYSE American starting September 14, 2026.
Each 30 existing shares of common stock will be automatically combined into 1 share, with no fractional shares issued; holders otherwise entitled to a fraction will receive 1 whole share. The company expects approximately 9.1 million common shares to be issued and outstanding immediately after the split, and states that each stockholder’s pro-rata ownership percentage will remain unchanged. All outstanding warrants and other derivatives will automatically adjust per their terms. The new CUSIP for the common stock will be 674870 605.
The reverse split also mechanically adjusts the purchase price of the preferred stock purchase rights under the Section 382 Tax Benefits Preservation Plan from $2.25 to $67.50 per one one-thousandth share of Series A Participating Preferred Stock, without changing the fraction purchasable or the number of rights per common share, and without triggering any defined “Acquiring Person” or other triggering events under the plan.
Ocean Power Technologies (OPTT) has begun participating in a week-long uncrewed surface vehicle demonstration hosted by the U.S. Army Engineer Research and Development Center’s Coastal and Hydraulics Laboratory at its Field Research Facility in Duck, North Carolina.
The event evaluates technologies that can sustain uncrewed surface vehicle operations through surf zones, breaking waves, currents and coastal inlets. OPT will demonstrate its WAM-V maritime drone platform in live coastal conditions, showcasing capabilities for bathymetric mapping and submerged-hazard detection that may support U.S. Army Corps of Engineers civil works missions and military logistics over the shore. Participation does not constitute a U.S. Government procurement contract, though promising technologies may be considered for follow-on testing if funding is available.
Ocean Power Technologies (OPTT) announced the implementation of Palantir Foundry, via the Palantir for Builders program, to support its growing U.S. and international autonomous maritime deployments. Foxtrot Professional Services, a Foundry-native Palantir partner, will lead the rollout and integration effort.
The initiative aims to create end-to-end visibility across manufacturing, supply chain, deployment, fleet operations, maintenance and customer support. By connecting data and workflows, modeling key operational relationships and instituting governed workflows, OPT expects faster, data-driven decisions and an operating backbone designed to support significantly greater future scale.
Ocean Power Technologies (NYSE American: OPTT) announced that President and CEO Dr. Philipp Stratmann will join the Water Tower Research Fireside Chat Series on Tuesday, August 25, 2026 at 11:00 am ET. Hosted by Water Tower Research Managing Director Peter Gastreich, the session will address OPTT’s evolution into an operational provider, its $19.8 million backlog (up 58% in 2026 and nearly five times FY26 revenue), Coast Guard program and recurring revenue model, WAM-V delivery speed, defense and international opportunities, and targets for 35–55% gross margins, capital plans, and FY27 execution milestones. The event is open to all investors via online registration through Water Tower Research.