Ocean Power Tech Stock Price, News & Analysis

Ocean Power Technologies (NYSE American: OPTT) has secured $2 million in purchase orders for Next Generation PowerBuoys® in Latin America. These PowerBuoys® combine wave, solar, and wind power generation capabilities and can be deployed in various water depths from coastal to deep ocean.

The systems support both above and below-surface payloads and can be equipped with various communication solutions. This order follows recent growth in WAM-V solutions in the region, enabling customers to add permanent monitoring and marine intelligence solutions to their existing roaming capabilities.

According to CEO Philipp Stratmann, this expansion strengthens OPT's position in Latin America and demonstrates the company's commitment to delivering marine intelligence solutions in the region.

Ocean Power Technologies (NYSE: OPTT) has successfully completed major exercises in California, demonstrating the autonomous capabilities of their WAM-V technology for extended offshore operations. The breakthrough achievement shows the WAM-V 22's ability to conduct multi-day seabed surveys without returning to base.

The system demonstrated real-time hydrographic and survey data collection capabilities while maintaining persistent sea presence. The enhanced WAM-V design now enables full operations over extended time periods, representing a significant advancement in autonomous maritime technology.

According to CEO Philipp Stratmann, this achievement marks a groundbreaking milestone for OPT, enabling new operating approaches and enhanced efficiencies for customers while opening up new market opportunities. The extended operational capability is specifically designed to support longer and more power-intensive requirements while hosting various offshore instrumentation.

Ocean Power Technologies (NYSE: OPTT) has appointed three Advisory Board Members following its 2024 Annual Meeting of Stockholders. The appointees include Natalie Lorenz-Anderson, a MIT Board of Trustees Member with cybersecurity expertise, and two decorated Naval Veterans - Rear Admirals Joseph A. DiGuardo and Victorino Mercado.

The Advisory Board Members will provide guidance on operations and strategic plans, with compensation through equity grants determined by the Board. Lorenz-Anderson previously served on the Board but stepped down due to other commitments. DiGuardo and Mercado were former Board consultants.

Additionally, the company granted an inducement award to Tracy Pagliara, the new Senior VP and General Counsel, consisting of 75,000 restricted shares vesting equally over two years under the Employment Inducement Incentive Award Plan.

Ocean Power Technologies (NYSE American: OPTT) has announced its participation in The Microcap Conference 2025, scheduled for January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, NJ. This premier event brings together growth-focused companies and investors.

During the conference, OPT's management team will deliver a corporate presentation and conduct one-on-one meetings with both institutional and individual investors. These sessions will focus on discussing the company's recent developments, growth strategy, and investment opportunities.

Ocean Power Technologies (NYSE American: OPTT) has completed the main assembly of a PowerBuoy® system for the Naval Postgraduate School (NPS). The system features AT&T® 5G technology and advanced subsea sensors, integrated with OPT's latest Merrows™ suite for AI-capable Maritime Domain Awareness.

The system is being prepared for shipment and deployment in early 2025, coinciding with NPS's January Technology Showcase. Once deployed, it will provide continuous, autonomous monitoring and data collection in a strategically significant maritime environment.

The project aims to demonstrate PowerBuoy's® capability as 5G communication nodes along the U.S. coastline, supporting maritime security and operational capabilities both above and below the surface.

Ocean Power Technologies (NYSE: OPTT) has announced its participation in a fireside chat scheduled for December 19, 2024, at 11:00 a.m. ET. During this listen-only event, CEO Dr. Philipp Stratmann will discuss several key topics including:

• Recent performance and revenue growth
• Cost savings and expenditure reduction initiatives
• Integration of AI-capable solutions
• Geographic expansion into the Middle East and Latin America
• Development of dual-use technology for U.S. defense and security markets

The presentation will be available for replay in the Investors section of the OPT website under 'Events and Presentations.' No Q&A session will be included in this event.

Ocean Power Technologies (OPTT) reported strong Q2 FY25 financial results with revenue reaching $2.4 million, a 2.7x increase from the previous year. The company reduced its net loss by 46% to $3.9 million and decreased operating expenses by 41%. OPTT secured strategic partnerships in Latin America with $3 million in purchase commitments over 36 months, and expanded presence in the Middle East through partnerships with Unique Group, Remah International Group, and 3B General Trading.

The company completed military exercises for Project Overmatch as a subcontractor to EpiSci, contributing to revenue growth. OPTT reaffirmed its guidance to reach profitability by Q4 2025, citing strong product demand and effective cost management. Trailing twelve-month revenue reached $7.1 million, representing an 83% increase year-over-year.

Ocean Power Technologies (NYSE American: OPTT) has secured $3 million in purchase order commitments for WAM-V USV's in Latin America through a new partnership, extending over 36 months. This represents a $1.5 million increase from previously announced purchase orders in the region.

The WAM-V USV's will be deployed for hydrographic applications, offering versatile multi-application solutions. The order reinforces OPT's position in the maritime artificial intelligence robotics sector and demonstrates growing demand for their innovative solutions in Latin America.

Ocean Power Technologies (OPTT) announced preliminary Q2FY25 financial results, showing significant improvements. Revenue is estimated to exceed $2 million, more than double compared to $0.9 million in the same period last year. Net loss decreased by over 40% to approximately $4 million from $7.2 million year-over-year. Operating expenses were reduced by about 40%, and cash used in operations decreased to less than $4.7 million from $7.5 million.

The company completed several military exercises as part of Project Overmatch, delivered vehicles to Latin American customers, and signed its first multi-year service contract. OPT reaffirms its guidance to reach profitability by Q4 2025, citing strong product demand and effective cost management.