Ocean Power Technologies Expands U.S. and International Deployment Footprint

Ocean Power Technologies (NYSE American: OPTT) announced an expanded global deployment footprint for its PowerBuoy® and WAM-V® technologies across U.S. and international customers.

Rhea-AI Summary

Ocean Power Technologies (NYSE American: OPTT) announced an expanded global deployment footprint for its PowerBuoy® and WAM-V® technologies across U.S. and international customers.

U.S. deployments have grown from one to five concurrent PowerBuoy systems, supporting Homeland Security, Department of War research for the U.S. Navy, and a research institution. Internationally, deployments now include three WAM-V vehicles and one PowerBuoy in the UAE, plus additional WAM-V units in Taiwan and other regions. The company is also showcasing its WAM-V platform at Special Operations Forces Week in Tampa, highlighting demand for offshore monitoring and autonomous maritime capabilities.

Argus May 18 session

-5.97% close to close Open Argus

Details

News Market Reaction – OPTT

On May 18, the day this news came out, OPTT closed 5.97% below the previous close.

Data tracked by StockTitan Argus for the May 18 session.

Key Figures

Quarterly revenue: $513,000 Prior-year quarterly revenue: $825,000 Quarterly net loss: $11.4 million +5 more

Quarterly revenue

$513,000

Quarter ended January 31, 2026 (10-Q)

Prior-year quarterly revenue

$825,000

Quarter ended January 31, 2025 (10-Q comparison)

Quarterly net loss

$11.4 million

Quarter ended January 31, 2026 (10-Q)

Prior-year net loss

$6.7 million

Quarter ended January 31, 2025 (10-Q comparison)

Cash balance

$7.2 million

As of January 31, 2026 (10-Q)

Order backlog

$19.9 million

Preliminary fiscal Q3 update (8-K, Mar 13, 2026)

Sales pipeline

$163.9 million

Preliminary fiscal Q3 update (8-K, Mar 13, 2026)

Series C-1 convertible notes

$10,000,000

Senior convertible notes due 2027 (424B5, Apr 01, 2026)

Historical Context

5 past events · Latest: May 12

5 events

1. May 12

   DHS buoy deployments

   24h Move

   -3.0%

   Three PowerBuoy systems deployed for DHS maritime surveillance off California.

2. May 07

   Autonomous docking demo

   24h Move

   -1.9%

   Successful WAM-V autonomous docking, charging, and redeployment demonstration.

3. Apr 13

   First DHS PowerBuoy

   24h Move

   +5.3%

   First PowerBuoy deployed under DHS contract for Coast Guard awareness.

4. Apr 10

   Investor conference

   24h Move

   -4.1%

   CEO participation in Water Tower Research Insights investor conference.

5. Mar 27

   Nordic WAM-V order

   24h Move

   -4.7%

   Contract for fully integrated WAM-V for a new Nordic underwater research customer.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

autonomous surface vehicle, senior convertible notes, beneficial ownership limitation, derivative liability, +4 more

8 terms

autonomous surface vehicle technical

"successful demonstration of autonomous docking, charging, and redeployment for its WAM-V autonomous surface vehicle"

An autonomous surface vehicle is an unmanned boat or ship that navigates and performs tasks on the water using onboard sensors and software instead of a human crew — think of it as a self-driving car for oceans, rivers, and coastal waters. Investors care because these vehicles can lower operating costs, enable new services (like remote surveying, inspections, or cargo movement), and face specific regulatory and safety hurdles that affect revenue potential and adoption timelines.

senior convertible notes financial

"issue and sell $10,000,000 in senior convertible notes"

A senior convertible note is a loan a company issues that ranks near the top of payment priority and can be exchanged for the company’s stock under preset terms. Think of it as an IOU that promises interest payments and first dibs on repayments if assets are liquidated, but also gives the lender the option to become an owner later; investors watch these for repayment safety, interest income, and potential stock dilution.

beneficial ownership limitation regulatory

"subject to a 4.99% beneficial ownership limitation (adjustable to 9.99%)"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

derivative liability financial

"created a $2.2 million derivative liability and significantly increased common shares"

A derivative liability is an obligation a company owes because of a derivatives contract—such as an option, future, swap, or forward—that has moved against it and now has negative value. Think of it like a settled bet that turned into a bill: if market moves go the other way, the company may have to pay cash or deliver assets. Investors care because these liabilities can create sudden losses, add leverage or counterparty risk, and change a company’s true financial exposure beyond its everyday operations.

at-the-market equity sales financial

"The company raised liquidity through at-the-market equity sales and issuing $16.5 million"

An at-the-market equity sales program lets a company sell newly issued shares directly into the public market over time at whatever the current trading price is, using a broker to place orders instead of setting a fixed offering price. Investors should care because this approach can gradually increase the number of shares outstanding—like a bakery quietly adding more loaves to the shelf—which can reduce each existing share’s ownership and affect supply, price volatility, and the company’s ability to raise flexible, on-demand cash.

going concern financial

"cash burn raise “substantial doubt” about its ability to continue as a going concern"

Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.

autonomous maritime systems technical

"the role of its autonomous maritime systems. The company highlights how instability"

Unmanned vessels, drones, and linked sensors that operate at sea using onboard software, sensors, and remote supervision—think of self‑driving cars for ships and offshore equipment. They matter to investors because they can cut operating costs, create new service and logistics markets, and boost efficiency, while also introducing regulatory, safety and cybersecurity risks that can affect revenue, capital needs and valuation.

command and control platform technical

"integrated with Anduril’s Lattice command and control platform and equipped with AI-driven"

A command and control platform is a centralized software system that issues instructions to and gathers status from a network of remote devices, services or applications, much like an air‑traffic control tower directing planes and receiving their positions. For investors, these platforms matter because they drive operational efficiency, scalability and security—robust systems can enable new services and lower costs, while failures or vulnerabilities can lead to outages, data breaches or regulatory penalties that hurt revenue and value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MONROE TOWNSHIP, N.J., May 18, 2026 (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 an expansion in its global deployment footprint across U.S. government, international, and research customers.

In the United States, OPT has increased its PowerBuoy^® deployments from a single research-focused system to five concurrent deployments. These include three systems supporting U.S. Department of Homeland Security activities, one system supporting Department of War research for the U.S Navy, and one additional deployment supporting a U.S.-based research institution. This expansion reflects a transition from initial research deployments toward broader multi-agency use.

Internationally, OPT continues to expand its presence with three WAM-V^® autonomous surface vehicles and one PowerBuoy^® deployed in the United Arab Emirates, as well as additional WAM-V deployments supporting customer activities in Taiwan and other regions.

OPT is also showcasing its WAM-V platform at the Special Operations Forces Week in Tampa, the major annual event for the global Special Operations Forces community, supporting engagement with defense and advanced marine operations stakeholders.

The increase in concurrent deployments across multiple regions and customers reflects growing demand for persistent offshore monitoring and autonomous maritime capabilities.

For additional information about OPT, please visit our website Ocean Power Technologies.

ABOUT OCEAN POWER TECHNOLOGIES

OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy^® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V^® unmanned surface vessels (USVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s groundbreaking products, services and solutions, visit www.OceanPowerTechnologies.com.

FORWARD-LOOKING STATEMENTS

This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including OPT’s continuing successful expansion of its international deployment footprint, the delivery of customer services, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Investors: 203-561-6945 or investorrelations@oceanpowertech.com

Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What expansion in deployments did Ocean Power Technologies (OPTT) announce on May 18, 2026?

Ocean Power Technologies announced a broader global deployment of its PowerBuoy and WAM-V platforms. According to Ocean Power Technologies, U.S. PowerBuoy deployments increased to five concurrent systems, alongside expanded WAM-V and PowerBuoy use in the United Arab Emirates, Taiwan, and other international regions.

How many PowerBuoy systems is Ocean Power Technologies (OPTT) currently deploying in the United States?

Ocean Power Technologies is currently deploying five concurrent PowerBuoy systems in the United States. According to Ocean Power Technologies, three support U.S. Department of Homeland Security activities, one supports Department of War research for the U.S. Navy, and one serves a U.S.-based research institution.

Which U.S. government agencies are supported by Ocean Power Technologies PowerBuoy deployments?

Ocean Power Technologies PowerBuoy systems support multiple U.S. government agencies. According to Ocean Power Technologies, three deployments assist the U.S. Department of Homeland Security, while another supports Department of War research activities for the U.S. Navy, indicating broader multi-agency use beyond initial research projects.

What international deployments of WAM-V and PowerBuoy has Ocean Power Technologies (OPTT) reported?

Ocean Power Technologies reported new WAM-V and PowerBuoy deployments in several international markets. According to Ocean Power Technologies, three WAM-V autonomous surface vehicles and one PowerBuoy are deployed in the United Arab Emirates, with additional WAM-V units supporting customer activities in Taiwan and other regions.

How is Ocean Power Technologies promoting its WAM-V platform to defense and marine stakeholders?

Ocean Power Technologies is promoting its WAM-V platform at Special Operations Forces Week in Tampa. According to Ocean Power Technologies, this major annual event for the global Special Operations Forces community supports engagement with defense and advanced marine operations stakeholders interested in autonomous maritime capabilities.

What market demand does Ocean Power Technologies link to its increased deployments of OPTT technologies?

Ocean Power Technologies links its increased deployments to rising demand for persistent offshore monitoring and autonomous maritime capabilities. According to Ocean Power Technologies, the growth in concurrent deployments across multiple regions and customer types reflects expanding interest in its low-carbon marine power, data, and service solutions.