Ocean Power Tech Stock Price, News & Analysis

Ocean Power Technologies (NYSE American: OPTT) has secured a new contract from an international government customer for a fully integrated WAM-V system with near-term delivery requirements. The contract represents an expansion of OPT's presence in international markets, particularly in Latin America and the Middle East.

The company will begin immediate assembly and shipping of the vehicle, with training and services to be provided in the customer's country. CEO Philipp Stratmann highlighted this contract as evidence of growing market demand for OPT's systems, emphasizing the company's success in converting pipeline opportunities into backlog and driving further growth.

Ocean Power Technologies (NYSE American: OPTT) has signed a strategic reseller agreement with Elektron SAS, a Colombia-based specialist in hydrographic and oceanographic instrumentation services. The partnership includes a $4 million purchase commitment for OPT's maritime technologies, including WAM-V® Unmanned Surface Vehicles, Next Generation PowerBuoy®, and AI-powered Merrows™ platform.

The agreement enables Elektron to provide sales, integration, and support services across Latin America, significantly expanding OPT's commercial presence in the region. This partnership aligns with OPT's strategy of global expansion through strategic partnerships and channel-driven growth in high-potential markets.

Ocean Power Technologies (NYSE American: OPTT) has signed a reseller agreement with Grava Hydrographic Solutions to expand the distribution and support of its WAM-V® Unmanned Surface Vehicle technology across the United States.

The partnership aims to leverage Grava Hydro's expertise in hydrographic services and established customer relationships to enhance the deployment of WAM-V technology in real-world environments. This agreement is part of OPT's broader strategy to scale access to its marine robotics portfolio through trusted channel partners, focusing on maritime data collection, survey operations, and coastal monitoring applications.

Ocean Power Technologies (NYSE: OPTT) announced its operational resilience amid global supply chain challenges, highlighting its majority domestic supply chain as a strategic advantage. The company confirmed stable inventory levels and procurement practices, with no material impact on costs or customer delivery schedules.

CEO Philipp Stratmann emphasized OPT's fully U.S.-based workforce, which includes over 20% veterans, as a key differentiator enabling agility and competitiveness in both defense and commercial energy sectors. The company's supply chain strategy positions it to meet increasing demand for dual-use technologies serving defense and renewable energy applications while maintaining quality and security standards.

Ocean Power Technologies (NYSE: OPTT) has announced the sale of a Wave Adaptive Modular Vessel (WAM-V®) to an undisclosed mining customer in Latin America, marking its expansion into a new industry sector. The WAM-V® will be utilized for bathymetry surveys related to mining operations.

The sale represents a strategic milestone for OPT, demonstrating the versatility of their autonomous surface vessel (ASV) technology beyond traditional markets. The WAM-V® platform is notable for its stability, lightweight design, and modular architecture, enabling quick adaptation to various mission requirements. It can be launched from almost anywhere and operate in diverse sea conditions with minimal environmental impact.

CEO Philipp Stratmann emphasized that this deployment showcases the WAM-V®'s adaptability for both offshore and onshore applications where floating systems are required.

Ocean Power Technologies (NYSE American: OPTT) has secured a contract for immediate delivery of a PowerBuoy® system in the USA. The buoy, set for deployment on the East Coast, will be capable of integrating surface and subsea sensors with AI capabilities.

While specific details remain confidential, CEO Philipp Stratmann highlighted this as a revenue-generating contract, emphasizing the company's growth in both PowerBuoy® and WAM-V® business segments. The company positions its proven technology solutions as enabling persistent and resident monitoring for research and security applications.

Ocean Power Technologies (OPTT) reported Q3 FY25 financial results with mixed performance. The company achieved a record backlog of $7.5 million, up from $3.3 million year-over-year, driven by new Latin American partnerships worth $5 million in purchase orders.

Q3 revenue decreased to $0.8 million from $1.8 million year-over-year, while operating expenses reduced by 29% to $6.1 million. The company significantly improved cash management, reducing cash used in operating activities by 59% to $3.7 million from $9.2 million.

Notable operational highlights include successful WAM-V autonomous capability demonstrations in California, participation in NAVDEX 2025 alongside UAE partner Remah International Group, and strategic expansion in government contracting sectors through new sales personnel.

Ocean Power Technologies (NYSE: OPTT) has secured a new contract from a European Offshore Services Provider for a fully integrated WAM-V® unmanned surface vehicle (USV). The contract marks OPTT's expansion into the European Union market, adding to its presence in the United States, Latin America, and the Middle East.

The company will begin immediate assembly of the WAM-V® for near-term delivery, with training and services to be provided in the customer's country. CEO Philipp Stratmann highlighted that this contract demonstrates market demand for their systems, particularly in defense, security, autonomous survey, and offshore construction applications.

Ocean Power Technologies (NYSE: OPTT) has secured a binding letter of intent to deploy a PowerBuoy® system for an undisclosed defense customer. The deployment aims to demonstrate the system's survivability and suitability for multidomain defense and security applications in extreme sea conditions.

This development follows a previous teaming agreement with a major international defense contractor to provide OPTT's Merrows™ suite of solutions in specific geographic regions. The project focuses on advancing intelligence, surveillance, and reconnaissance capabilities for maritime security applications.