MONROE TOWNSHIP, N.J., June 04, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative, cost-effective, low-carbon and artificial intelligence maritime services that enable safer and more productive ocean operations and related power, data, and service solutions, today announced the hiring of Jason Weed as Senior Vice President – Commercial Sales. Mr. Weed is a strategic leader and retired U.S. Navy Captain with over 15 years of executi ...

Core Insights - Zacks Investment Research has initiated coverage of Ocean Power Technologies, Inc. (OPTT) with a "Neutral" recommendation, emphasizing both the company's emerging strengths and significant execution risks it faces [1] Company Overview - Ocean Power Technologies, based in New Jersey, specializes in autonomous maritime solutions and has achieved a record-high backlog of $7.5 million, driven by global demand for its AI-enabled PowerBuoy and WAM-V platforms [2] - The company is transitioning to a recurring revenue model through "Data as a Service" and "Robotics as a Service," which aims to enhance margins, improve cash flow predictability, and promote customer retention [2] Financial Performance - Financial discipline is improving, with OPTT reducing its operating cash burn by 41% over the first nine months of fiscal 2025 and enhancing liquidity to $10.2 million [3] - For the first nine months of fiscal 2025, OPTT reported a net loss of $15.1 million, although liquidity has improved [5] - The company has doubled its share count over the past year by issuing more than 100 million shares to fund operations, which may limit future upside for existing shareholders [6] Market Positioning - OPTT's proprietary autonomous maritime systems integrate AI for real-time monitoring and vehicle control, providing competitive advantages in various applications, including environmental monitoring and defense surveillance [4] - The recent demonstration of the WAM-V 22 platform operating autonomously for multiple days indicates growing technical maturity and market readiness [4] Stock Performance - Shares of Ocean Power have surged over 240% in the past six months, significantly outperforming both the Zacks Alternative Energy – Other subindustry and broader market indices [7] - Despite the stock rally, concerns remain regarding the company's ongoing losses, high customer concentration, and reliance on equity-linked financing [7] Additional Information - The full Zacks research report offers a comprehensive analysis of Ocean Power's financial health, strategic initiatives, and market positioning, providing insights into potential risks and opportunities [8]

Core Insights - Ocean Power Technologies, Inc. (OPT) has been recognized as one of the initial certified operators under the AUVSI Trusted UMS Operator Program, highlighting its commitment to operational excellence in autonomous maritime solutions [1][2][3] Group 1: Certification and Commitment - The AUVSI Trusted UMS Operator Program aims to establish high standards for training, proficiency, and safety in the operation of uncrewed maritime systems [2] - OPT's certification underscores its dedication to safety, operational rigor, and workforce training in deploying uncrewed technologies in challenging maritime environments [3] - The Trusted Operator designation provides a framework for standardizing skills and practices across the industry, helping stakeholders identify operators who meet high performance and accountability standards [3] Group 2: Company Overview and Services - OPT specializes in intelligent maritime solutions that enhance safety, cleanliness, and productivity in ocean operations across various sectors, including defense, security, oil and gas, science and research, and offshore wind [4] - The company offers products such as Merrows™, which integrates AI for Maritime Domain Awareness Systems, and PowerBuoy® platforms that provide clean electric power and real-time data communications for remote maritime applications [4]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - 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]

Group 1 - Ocean Power Technologies, Inc. has successfully completed its first WAM-V 22 sea trials for a significant customer operating in Sub Saharan Africa, conducted at its newly permitted test site in Southern New Jersey [1][2] - The completion of these sea trials allows the company to conduct year-round testing on both the East and West Coasts, facilitating quicker product delivery and reducing the time from booking to revenue recognition [2] - Ocean Power Technologies specializes in intelligent maritime solutions, including AI-capable systems for maritime domain awareness, PowerBuoy platforms for clean energy, and WAM-V unmanned surface vehicles [3]

Ocean Power Technologies (OPTT) Conference Call Summary Company Overview - **Company**: Ocean Power Technologies (OPTT) - **Industry**: Ocean technology, specifically focusing on autonomous ocean intelligence and surveillance systems Key Points and Arguments Recent Developments - OPTT has recently shipped multiple PowerBuoys to international customers, indicating a busy operational period [2][3] - The company is collaborating with an international defense contractor to develop persistent ocean intelligence surveillance and reconnaissance devices [2] - A vehicle equipped with extended over-the-horizon capabilities has been shipped to the Indo-Pacific region for survey work [2] Business Transformation - OPTT has pivoted from a focus on hardware to providing intelligence and data solutions, addressing gaps in ocean technology markets [9][10] - The company now offers persistent and autonomous ocean intelligence platforms capable of subsea and surface monitoring, acting as communication nodes [11][12] - The shift includes a focus on defense and security sectors, as well as offshore energy markets [12][13] Defense and Security Landscape - The company positions itself within the maritime domain awareness sector, providing monitoring systems akin to a "CCTV for the ocean" [16] - OPTT's vehicles are designed for various applications, including mine detection and seabed surveys, emphasizing stability and payload capacity over speed [18][21] - The ongoing geopolitical climate, particularly the war in Ukraine, has heightened the focus on autonomous warfare and maritime security [15] Partnerships and Contracts - OPTT prefers to partner with prime contractors for larger government contracts rather than acting as a prime contractor itself [23] - The company has established partnerships with various contractors, including Episci and Rimar International Group, to enhance its market presence [25][26] - OPTT is directly involved in smaller contracts with the US government, including three IDIQs for uncrewed systems with NOAA [27] Financial Outlook and Profitability - The company aims to achieve profitability by the end of calendar 2025, having made significant strides in reducing operating expenses [28][30] - OPTT's revenue pipeline is projected to generate between $3 million to $6 million per quarter, depending on project conversions [34][35] - The company is confident in its ability to reach positive cash flow and profitability based on current demand signals and backlog [36] Valuation Insights - OPTT is currently valued at a discount compared to peers, attributed to the influx of venture capital in the defense tech space [40][41] - The public market perception of OPTT differs from private valuations, which often reflect long-term growth potential rather than immediate financial results [42][43] - The company emphasizes its solid governance and transparency as a public entity, contrasting with the less frequent reporting of private companies [44] Additional Important Content - The company is focused on long-term growth and aims to deliver solutions that enhance ocean safety and national security [46] - The conversation highlighted the importance of visibility into business operations for achieving proper valuations in the public market [47]

Core Insights - Ocean Power Technologies, Inc. (OPT) is committed to engaging with the investor community through a fireside chat scheduled for May 6, 2025, at 11 a.m. ET [1][2] - Dr. Philipp Stratmann, President and CEO of OPT, will discuss the company's recent performance, progress, and future prospects during the event [2] Company Overview - OPT specializes in innovative and cost-effective low-carbon marine power, data, and service solutions, targeting markets 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 remote maritime applications [4] - OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [4]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across key finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans to maintain quality and best practices in content production [5]

Core Insights - Ocean Power Technologies, Inc. has been awarded a contract for multiple WAM-Vs for delivery to certain Allied Forces, which is expected to enhance the company's growth in the defense sector [1][2] - The contract includes the provision of vehicles, integrated sensors, and operators under a contractor-owned contractor-operated (COCO) model, with delivery scheduled for late Spring 2025 [1] - The CEO of OPT highlighted the significance of this contract as a validation of the company's role in ocean security and the cost-efficiency of its unmanned surface vehicles [3] Company Overview - Ocean Power Technologies specializes in innovative low-carbon marine power solutions, providing services across various sectors including defense, oil and gas, science and research, and offshore wind [4] - The company offers a range of products such as PowerBuoys for clean energy and real-time data communications, as well as WAM-V unmanned surface vehicles [4] - OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [4]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive focuses on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Group 2 - Proactive is a forward-looking company that adopts technology enthusiastically, utilizing decades of expertise and experience [4] - The company employs automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]