Every 10-Q that Ocean Power Technologies, Inc. (OPTT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow OPTT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OPTT filings page.
Ocean Power Technologies, Inc. (OPTT) reported results for the quarter ended July 31, 2026 with total revenue of $1.7 million, up from $1.2 million a year earlier, driven by higher lease revenue. However, cost of revenues of $4.5 million produced a negative gross margin of $2.8 million.
Operating expenses rose to $12.2 million, including $2.7 million of product development costs and a $2.2 million charge for acquired in‑process R&D, leading to a net loss of $10.5 million versus $7.4 million last year. Operating activities used $10.2 million of cash, leaving $7.5 million in cash, cash equivalents and restricted cash. Management states that these losses and cash burn raise substantial doubt about the company’s ability to continue as a going concern.
The company completed an April 2026 convertible note financing (fair value $8.1 million at quarter‑end, effective interest about 20%) and a June 2026 equity and warrant offering providing $9.3 million net proceeds; a change in warrant fair value generated a $4.9 million non‑cash gain. On September 11, 2026 a 1‑for‑30 reverse stock split became effective, and on September 14, 2026 the board appointed an acting CEO following the prior CEO’s resignation.
Ocean Power Technologies, Inc. reported weaker results for the quarter and nine months ended January 31, 2026, and disclosed that recurring losses and cash burn raise “substantial doubt” about its ability to continue as a going concern.
Quarterly revenue fell to $513,000 from $825,000, while net loss widened to $11.4 million from $6.7 million. For the nine-month period, revenue dropped to $2.1 million from $4.5 million, and net loss nearly doubled to $29.6 million. Gross margin turned negative and operating expenses, including a sharp increase in share‑based compensation, pushed operating loss higher.
Cash, cash equivalents and restricted cash totaled $7.2 million at January 31, 2026, after using $19.9 million in operating cash over nine months. The company raised liquidity through at‑the‑market equity sales and issuing $16.5 million of convertible notes, which created a $2.2 million derivative liability and significantly increased common shares outstanding.
Ocean Power Technologies reported a much wider loss for fiscal Q2 2026 as revenue dropped sharply and margins turned negative. Revenue for the quarter ended October 31, 2025 fell to $424,000 from $2,418,000 a year earlier, with weaker WAM‑V sales and one‑time losses on two contracts in strategically important markets driving a gross margin loss of $1.4 million versus a prior profit. Operating expenses increased to $8.7 million from $4.7 million, partly due to higher share‑based compensation, and the quarterly net loss widened to $10.8 million from $3.9 million, or $0.06 per share versus $0.04.
For the first six months, revenue was $1.6 million compared with $3.7 million and net loss reached $18.2 million. To fund operations and growth, the company raised $16.8 million from 0% convertible notes and about $3.0 million from at‑the‑market equity sales, lifting cash, cash equivalents and restricted cash to $11.8 million from $6.9 million at April 30, 2025, but adding $10.3 million of convertible notes payable and an $881,000 derivative liability. Management expects the convertible notes to be repaid in common stock and states that existing cash and projected results should cover at least the next 12 months, while acknowledging that additional financing could be needed if results fall short.
Ocean Power Technologies, Inc. reported a quarter showing continued cash usage and financing activity while generating modest revenue. The company held approximately $10.0 million of cash and equivalents as of July 31, 2025 (compared with $6.9 million at April 30, 2025) and recognized total revenue of roughly $1.18 million for the three-month period. The company recorded a net loss of $7.388 million during the period and continues to consume cash in operations.
The filing discloses financing actions including net proceeds of $9.7 million from convertible notes and prior proceeds of about $17.7 million under an ATM facility (plus $0.3 million between reporting dates); the ATM agreement was later terminated. Significant items include $10.524 million of unrecognized compensation cost related to unvested RSUs, $8.5 million of goodwill from a 2021 acquisition, and concentrated customer exposure where large customers represent a high percentage of revenues. Lease obligations total future minimum payments of $1.702 million.