Financial Performance - Revenues for the three months ended October 31, 2025, were $0.4 million, down from $2.4 million in the same period last year[7] - Net losses for the three months ended October 31, 2025, were $10.8 million, compared to $3.9 million for the same period in 2024[10] - Gross profit for the three months ended October 31, 2025, was a loss of $1.4 million, compared to a profit of $0.8 million in the prior year[7] - Operating expenses for the three months ended October 31, 2025, were $8.7 million, up from $4.7 million in the same period of 2024[7] - Revenues for the six months ended October 31, 2025, were $424 million, a decrease from $2,418 million in the same period of 2024[18] - Operating loss increased to $10,123 million for the six months ended October 31, 2025, compared to a loss of $3,915 million in 2024[18] - Net loss for the six months ended October 31, 2025, was $18,212 million, up from $8,365 million in 2024[20] - Basic and diluted net loss per share was $0.06 for the six months ended October 31, 2025, compared to $0.04 in 2024[18] Cash Flow and Financial Position - Cash and cash equivalents as of October 31, 2025, totaled $11.7 million, an increase from $6.7 million at the beginning of the fiscal year[10] - Net cash used in operating activities was $13,136 million for the six months ended October 31, 2025, compared to $10,890 million in 2024[20] - Net cash provided by financing activities was $19,799 million for the six months ended October 31, 2025, compared to $9,959 million in 2024[20] - Cash, cash equivalents, and restricted cash at the end of the period were $11,813 million, up from $2,246 million in 2024[20] Operational Highlights - Backlog increased to $15.0 million, a nearly 300% increase from $3.8 million year-over-year[10] - Pipeline as of October 31, 2025, stands at $137.5 million, reflecting a 63% increase from $84.4 million a year earlier[3] - The company shipped eight WAM-V® autonomous surface vehicles during the quarter, indicating growing demand and production capacity[3] - The company became certified by AUVSI as a Trusted Uncrewed Maritime Systems Operator Training Provider, expanding its training offerings[3] Strategic Initiatives - In November 2025, the company signed a strategic partnership with Mythos AI to enhance its WAM-V® ASVs and PowerBuoy® platforms with AI capabilities[3] Shareholder Information - Share-based compensation increased significantly to $5,191 million for the six months ended October 31, 2025, from $551 million in 2024[20] - Purchases of property and equipment were $1,719 million for the six months ended October 31, 2025, compared to $128 million in 2024[20] - The weighted average shares used to compute basic and diluted net loss per common share increased to 183,559,304 in 2025 from 108,396,875 in 2024[18]

Ocean Power Technologies, Inc. (NYSE American: OPTT) reported an EPS of -$0.06, below EPS estimates of -$0.02 and fell short on revenue expectations with $424,000 against an estimated $2.5 million.The company has seen a significant increase in its backlog to approximately $15 million, indicating strong demand for its products and services.Despite strategic advancements and partnerships, Ocean Power Technologies faces financial challenges with a negative P/E ratio of approximately -20.49 and a high price-to- ...

Financial Data and Key Metrics Changes - Backlog as of October 31, 2025, was approximately $15 million, an increase of $11.2 million year-over-year, reflecting conversion of opportunities across various sectors [7] - Pipeline expanded to $137.5 million, up $53.2 million year-over-year, indicating larger and more strategic opportunities [7] - Revenue for the quarter was $0.4 million, down from $2.4 million in the prior period, primarily due to delays in deliverables [8] - Gross profit for the quarter was a loss of $1.4 million compared to a profit of $0.8 million in the prior year [8] - Operating expenses increased to $8.8 million for the quarter, up from $4.7 million in the prior year, largely due to higher non-cash stock-based compensation [9] - Net losses for the quarter were $10.8 million, compared to $3.9 million in the prior year [9] Business Line Data and Key Metrics Changes - Eight Autonomous Surface Vehicles (ASVs) were delivered during the quarter, supporting demonstrations and ongoing user trials [8] - The company maintained steady ASV deliveries and advanced PowerBuoy readiness for national security missions [5] Market Data and Key Metrics Changes - The company is seeing increased demand across defense, government security, offshore energy, and commercial applications [4] - International demonstrations in Latin America and the UAE have validated system performance and opened avenues for follow-on work [5] Company Strategy and Development Direction - The company reorganized delivery and internal R&D teams to improve coordination and scalability as opportunities grow [6] - Focus remains on execution, reliability, and supporting customer missions with systems that perform consistently in real-world environments [10] Management's Comments on Operating Environment and Future Outlook - Management noted strengthening demand signals across core markets and regained momentum in government engagement [10] - The company is optimistic about upcoming orders and has started pre-building buoy assets for anticipated orders [17] Other Important Information - The company has been recognized as a trusted operator by AUVSI, leading to the opening of a training school for USV operators [16] - The company is actively engaged in international markets, particularly in oil and gas sectors outside the U.S. [24] Q&A Session Summary Question: Can you provide details on the pipeline and customer orders? - Management indicated a balanced mix in the pipeline, with ongoing discussions particularly in homeland security and the Department of War [13] Question: How is headcount expansion supporting the pipeline? - The company has increased headcount in delivery-focused functions and marine operations to facilitate discussions with government agencies [16] Question: Will the government shutdown impact future revenues? - Management noted an uptick in pace and is optimistic about shipping efforts shortly, although it is uncertain if the impact will be additive or merely a push-out [17] Question: How has recent regulatory news affected momentum in wind energy? - The company remains engaged in offshore energy sectors outside the U.S., particularly in the UAE, and is focused on lowering operational costs for international clients [23] Question: How does the company differentiate between pipeline and backlog? - Pipeline consists of qualified opportunities under NDA, while backlog includes confirmed contracts and purchase orders [26]

Financial Data and Key Metrics Changes - Backlog as of October 31, 2025, was approximately $15 million, an increase of $11.2 million year-over-year, reflecting conversion of opportunities across various sectors [7] - Pipeline expanded to $137.5 million, up $53.2 million year-over-year, indicating larger and more strategic opportunities [7] - Revenue for the quarter was $0.4 million, down from $2.4 million in the prior period, attributed to delays in deliverables [8] - Gross profit for the quarter was a loss of $1.4 million compared to a profit of $0.8 million in the prior year [8] - Operating expenses increased to $8.8 million for the quarter, up from $4.7 million in the prior year, primarily due to higher non-cash stock-based compensation [9] - Net losses were $10.8 million for the quarter, compared to $3.9 million in the prior year [9] Business Line Data and Key Metrics Changes - The company delivered eight WAM-V vehicles during the quarter, supporting demonstrations and customer trials [8] - Operational planning reflects expectations for buoy orders, indicating a focus on long-duration power solutions and autonomous surface vehicles [5] Market Data and Key Metrics Changes - The company is seeing increased engagement in defense, government security, offshore energy, and commercial applications, with a notable uptick in U.S. government activity [4] - International demonstrations in Latin America and the U.A.E. have validated system performance and opened avenues for follow-on work [5] Company Strategy and Development Direction - The company reorganized delivery and internal R&D teams to improve coordination and scalability in response to rising demand [6] - Focus remains on execution, reliability, and supporting customer missions with systems that perform consistently in real-world environments [10] Management's Comments on Operating Environment and Future Outlook - Management noted strengthening demand signals across core markets, with backlog and pipeline at significantly higher levels than last year [10] - Government engagement has regained momentum, supported by new initiatives across multiple agencies [10] Other Important Information - The company has been granted trusted operator status by AUVSI, leading to the opening of a training school for USV operators [16] - The company is actively pursuing international opportunities, particularly in oil and gas sectors outside the U.S. [24] Q&A Session Summary Question: Can you talk about the pipeline and customer orders? - Management indicated a balanced mix in the pipeline, with ongoing discussions particularly in homeland security and the Department of War [13] Question: How is headcount growth supporting the pipeline? - Headcount has expanded in delivery-focused functions and commercial teams to facilitate discussions with government agencies [16] Question: Will the government shutdown impact revenues next quarter? - Management noted an uptick in pace recently and is optimistic about shipping efforts shortly [17] Question: How has recent regulatory news on wind permits impacted momentum? - The company remains engaged in offshore energy sectors outside the U.S., focusing on oil and gas projects [23] Question: How does the company identify and quantify pipeline versus backlog? - Pipeline consists of qualified opportunities under NDA, while backlog includes confirmed contracted purchase orders [26]

Financial Data and Key Metrics Changes - Backlog increased to approximately $15 million, up $11.2 million year-over-year, reflecting conversion of opportunities across various sectors [6][8] - Pipeline expanded to $137.5 million, an increase of $53.2 million year-over-year, indicating larger and more strategic opportunities [6][8] - Revenue for the quarter was $0.4 million, down from $2.4 million in the prior period, attributed to delays in deliverables [8] - Gross profit for the quarter was a loss of $1.4 million, compared to a profit of $0.8 million in the prior year [8] - Operating expenses rose to $8.8 million for the quarter, compared to $4.7 million in the prior year, primarily due to higher non-cash stock-based compensation [9] - Net losses were $10.8 million for the quarter, compared to $3.9 million in the prior year [9] - Cash and short-term investments totaled $11.7 million as of October 31, up from $6.7 million at the beginning of the fiscal year [9] Business Line Data and Key Metrics Changes - Eight Autonomous Surface Vehicles (ASVs) were delivered during the quarter, supporting demonstrations and customer milestones [8] - The company maintained steady ASV deliveries and advanced PowerBuoy readiness for national security missions [5][8] Market Data and Key Metrics Changes - The company is seeing increased demand across defense, government security, offshore energy, and commercial applications [4][10] - International demonstrations in Latin America and the UAE have validated system performance and opened new avenues for follow-on work [5][10] Company Strategy and Development Direction - The company reorganized delivery and internal R&D teams to improve coordination and scalability as opportunities grow [6] - Focus remains on execution, reliability, and supporting customer missions with systems that perform consistently in real-world environments [10] Management's Comments on Operating Environment and Future Outlook - Management noted strengthening demand signals across core markets and regained momentum in government engagement [10] - The company is preparing for anticipated buoy orders and has aligned teams to support upcoming opportunities [10] Other Important Information - The company has been granted trusted operator status by AUVSI, leading to the opening of a training school for USV operators [17] - The company is expanding its international footprint, particularly in the oil and gas sector outside the U.S. [24] Q&A Session Summary Question: Can you talk about the pipeline and customer orders? - Management indicated a balanced mix in the pipeline, with ongoing discussions particularly in homeland security and the Department of War [12][13] Question: How is headcount growth supporting the pipeline? - The company has expanded its delivery-focused functions and commercial team to facilitate discussions with government agencies [16][17] Question: Will the government shutdown impact revenues next quarter? - Management noted an uptick in pace and is optimistic about shipping efforts shortly, but it is uncertain if it will be additive or a push-out [18] Question: How has recent regulatory news impacted momentum in wind energy? - The company remains engaged in offshore energy sectors outside the U.S., particularly in the UAE, and is focused on lowering operational costs for customers [23][24] Question: How does the company differentiate between pipeline and backlog? - Pipeline consists of qualified opportunities under NDA, while backlog includes confirmed contracts and purchase orders [25][26]

Core Insights - Proactive provides fast, accessible, and actionable business and finance news content to a global investment audience [2] - The company focuses on medium and small-cap markets while also covering blue-chip companies and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, mining, oil and gas, and emerging technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Financial Performance - The company incurred a net loss of approximately $18.2 million and used cash in operations of approximately $13.1 million during the six months ended October 31, 2025 [141]. - Revenues for the three months ended October 31, 2025, were approximately $0.4 million, a decline of 83.5% compared to $2.4 million in the same period of 2024, primarily due to disruptions from the U.S. federal government shutdown [165]. - The net loss for the six months ended October 31, 2025, was $18.2 million, compared to a net loss of $8.4 million for the same period in 2024, indicating a year-over-year increase of 116.7% [176]. - Operating expenses rose to $8.7 million for the three months ended October 31, 2025, compared to $4.7 million in 2024, driven by a $2.5 million increase in share-based compensation [167]. - Net cash used in operating activities for the six months ended October 31, 2025, was $13.1 million, an increase of $2.2 million from $10.9 million in the same period of 2024 [177]. - Interest expense for the three months ended October 31, 2025, was $(564,000), a significant decrease from $3,000 in 2024, primarily due to expenses related to convertible notes [168]. Financial Position - As of October 31, 2025, the company had cash and cash equivalents of $11.8 million, which is expected to fund operations through December 2026 [182]. - The company believes cash on hand and forecasted operating results will provide sufficient liquidity for at least the next 12 months [142]. - Net cash provided by financing activities increased to $19.8 million for the six months ended October 31, 2025, compared to $10.0 million in 2024, primarily due to proceeds from convertible notes [179]. - The company issued an additional $6.5 million of convertible notes to institutional investors during the quarter, increasing its financial flexibility [140]. Market and Operational Insights - As of October 31, 2025, the backlog was $15.0 million, compared to $3.8 million at October 31, 2024, indicating significant growth in unfulfilled purchase orders [147]. - The company expects to convert all current backlog into revenue within the next 12 to 36 months, although timing may vary [147]. - Revenue distribution for the three months ended October 31, 2025, showed 32% from North and South America, 26% from EMEA, and 42% from Asia and Australia, highlighting a shift in market focus [154]. Costs and Expenses - Cost of revenues increased to $1.8 million for the three months ended October 31, 2025, from $1.6 million in 2024, reflecting full recognition of losses associated with contracts in strategically important markets [166]. - The company has a history of operating losses, which are expected to continue in the short term [141]. Development and Strategic Plans - Engineering and product development costs are focused on enhancing the PowerBuoy® system's power output and reliability, as well as developing new products [156]. - The company plans to use net proceeds from its At-the-Market Offering Program, which has a gross sales price of up to $40.0 million, for general corporate purposes including product development and potential acquisitions [144]. Accounting and Reporting - The company is currently evaluating the impact of recently issued Accounting Standards Updates on its financial reporting [149]. - The company experienced a foreign exchange loss of $10, compared to a loss of $1 in the same period of 2024 [164]. - The company has not engaged in any off-balance sheet financing activities since inception [183].

Year Over Year Backlog increases to $15.0 Million as Commercial Momentum AcceleratesMONROE TOWNSHIP, N.J., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal second quarter (“2Q26”) ended October 31, 2025. Highlights include: 2Q26 RESULTS and RECENT HIGHLIGHTS Backlog at October 31, 2025 was approximately $15.0 million, an increase of $11.2 million and nearly 300% over the prior year period.Pipelin ...

Core Insights - Ocean Power Technologies, Inc. (OPT) will release early earnings for its fiscal 2026 second quarter on December 15, 2025, prior to market open [1] - A conference call to discuss the financial results will take place on the same day at 9:00 AM EST, hosted by CEO Philipp Stratmann and CFO Bob Powers [2] Company Overview - OPT specializes in innovative low-carbon marine power solutions and services, targeting sectors such as defense, oil and gas, science and research, and offshore wind [4] - The company offers products like Merrows™, which integrates Maritime Domain Awareness Systems, and PowerBuoy® platforms that provide clean electric power and real-time data communications for maritime applications [4] - OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [4]

Core Insights - Proactive provides fast, accessible, and informative business and finance news content to a global investment audience [2] - The company focuses on medium and small-cap markets while also covering blue-chip companies and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]