Group 1 - Proactive has a global presence with bureaus and studios in major finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - The company focuses on delivering fast, accessible, informative, and actionable business and finance news content to a global investment audience [3] - Proactive covers a wide range of sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [4] Group 2 - Proactive employs automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5] - The company specializes in medium and small-cap markets, while also providing updates on blue-chip companies, commodities, and broader investment stories [7] - The content creators at Proactive possess decades of expertise and experience, utilizing technology to enhance workflows [8]

Financial Performance - Revenues for FY24 increased 102% to $5.5 million, compared to $2.7 million in FY23[4] - Gross profit for FY24 was $2.8 million, representing a gross margin of 51%, up from $0.2 million and 9% in FY23[4] - Net loss for FY24 was $27.5 million, slightly higher than the net loss of $26.3 million in FY23[7] - Revenue for the fiscal year 2024 was $5,525,000, compared to $2,732,000 for the fiscal year 2023, representing a growth of 102.9%[25] - Gross profit increased to $2,826,000 in fiscal year 2024 from $236,000 in fiscal year 2023, marking a significant improvement[25] - The net loss for fiscal year 2024 was $27,483,000, compared to a net loss of $26,326,000 in fiscal year 2023, reflecting a slight increase in losses[25] Operating Expenses - Operating expenses for FY24 were $32.2 million, compared to $28.3 million in FY23, including extraordinary expenses of $3.9 million[7] - Total operating expenses rose to $32,157,000 in fiscal year 2024, up from $29,452,000 in fiscal year 2023, indicating an increase of 5.8%[25] Cash and Assets - Cash and cash equivalents decreased to $3,151,000 as of April 30, 2024, down from $6,883,000 as of April 30, 2023, a decline of 54.2%[23] - Total current assets dropped to $10,543,000 in April 2024 from $37,673,000 in April 2023, a decrease of 72.0%[23] - The company reported a significant increase in inventory, which rose to $4,831,000 in April 2024 from $1,044,000 in April 2023, an increase of 362.5%[23] Liabilities - Total liabilities were $9,360,000 as of April 30, 2024, slightly down from $9,421,000 in April 30, 2023[23] Future Outlook - Backlog as of April 30, 2024, was $4.9 million, a 25% increase from $4.0 million at the same time last year[4] - Contracted orders for FY25 are expected to be approximately $12.5 million, representing nearly 2x growth over FY24[10] - The company anticipates reaching profitability during the second half of calendar year 2025[5] Strategic Partnerships - The company signed a reseller agreement with Survey Equipment Services, Inc. to provide WAM-Vs domestically, enhancing revenue streams[4] - A strategic partnership with Teledyne Marine aims to enhance product offerings and drive innovation in maritime technology[3] Share Information - The weighted average shares used to compute basic and diluted net loss per share increased to 59,031,736 in fiscal year 2024 from 55,998,543 in fiscal year 2023[25] Cash Flow - Cash used in operating activities for fiscal year 2024 was $29,763,000, compared to $21,707,000 in fiscal year 2023, indicating a higher cash outflow[26]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 22-2535818 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-33417 Ocean Power Technologies, Inc. (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identifi ...

MONROE TOWNSHIP, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal fourth quarter ("4Q24") and full-year ended April 30, 2024 ("FY24"). Highlights include: 4Q24 and RECENT HIGHLIGHTS Backlog at April 30, 2024 is $4.9 million, a 25% increase over the prior year. Pipeline at April 30, 2024 stood at $71.6 million In July 2024 we announced a contract for immediate delivery of a PowerBuoy equippe ...

MONROE TOWNSHIP, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal fourth quarter ("4Q24") and full-year ended April 30, 2024 ("FY24"). Highlights include: 4Q24 and RECENT HIGHLIGHTS Backlog at April 30, 2024 is $4.9 million, a 25% increase over the prior year. Pipeline at April 30, 2024 stood at $71.6 million In July 2024 we announced a contract for immediate delivery of a PowerBuoy equippe ...

Ocean Power Technologies Inc (NYSE-A:OPTT) is seeing continued strong demand for its AI-powered Maritime Domain Awareness Solution Merrows, this week announcing it has won a contract for the delivery of a PowerBuoy equipped with the technology in the Middle East. CEO Philip Stratmann told Proactive in an interview that the announcement builds on its earlier announcement it was selected as a preferred supplier for its Merrows-equipped buoys in the region. He also highlighted the potential for the company's t ...

About this content Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a firstclass degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... ...

The Company had previously announced its selection as a preferred supplier for its Merrows equipped buoys in the region. ABOUT OCEAN POWER TECHNOLOGIES This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "con ...

A conference call to discuss OPT's financial results will be Friday July 26, 2024 9:00am EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. ABOUT OCEAN POWER TECHNOLOGIES MONROE TOWNSHIP, N.J., July 12, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2024 fourth quarter results for the period e ...

INDIVIDUAL MEETING INFORMATION CONFERENCE CALL AND WEBCAST INFORMATION OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics serv ...