Ocean Power Technologies, Inc. Provides Required Disclosure
Rhea-AI Summary
Ocean Power Technologies (NYSE American: OPTT) disclosed that the financial statements in its Annual Report on Form 10-K for the year ended April 30, 2026 include an audit report from its Independent Registered Public Accounting Firm containing an explanatory paragraph emphasizing a going concern qualification. The company noted this disclosure is required under Section 610(b) of the NYSE American Company Guide and clarified that it does not represent any change or amendment to its filings for the fiscal year ended April 30, 2026. Additional information about Ocean Power Technologies is available on its corporate website.
Positive
- Required NYSE American disclosure provided without changes to existing FY 2026 filings
Negative
- Audit report on FY 2026 financials includes a going concern qualification explanatory paragraph
News Explained
The disclosed going-concern qualification should be read alongside
Sources and calculations
- Ocean Power Technologies Provides Required Disclosure (2026-08-21)
- OPTT latest-quarter fundamentals (2026-04-30)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $8,719,000 / ($851,000 / 90) = [object Object]
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 20 | Late filing notice | Negative | -4.3% | NYSE American notice followed delayed Form 10-K filing and continued-listing noncompliance. |
| Aug 19 | Accounting revision | Negative | -4.3% | Audit-related revisions increased fiscal 2026 net loss and reduced reported revenue. |
| Aug 17 | Strategic review | Neutral | -6.5% | Board began strategic-alternatives review with Bowen, Inc. as financial advisor. |
| Aug 05 | Contract selection | Positive | -1.3% | OPTT joined six potential awardees for a U.S. Navy ocean-mapping contract. |
| Jul 30 | Drone delivery | Positive | +0.0% | Company delivered a WAM-V maritime drone to Stevens Institute of Technology. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
OPTT's recent record showed negative reactions to negative disclosures, while positive operating announcements produced mixed outcomes.
Key Terms
going concern qualification financial
form 10-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONROE TOWNSHIP, N.J., Aug. 21, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in maritime operational infrastructure and autonomous ocean systems, announced that its Financial Statements included in its Annual Report on Form 10-K for the year ended April 30, 2026, contained an audit report from its Independent Registered Public Accounting Firm with an explanatory paragraph emphasizing a going concern qualification. Release of this information is required by Section 610(b) of the NYSE American Company Guide and does not reflect any change or amendment to any of the Company’s filings for the fiscal year ended April 30, 2026.
For more information about Ocean Power Technologies, visit www.OceanPowerTechnologies.com.
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 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, and successfully deploy its technologies and services in support of those task orders, 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
