Core Insights - Ocean Power Technologies, Inc. announced a significant upgrade to its AI-capable Merrows™ Maritime Domain Awareness Solution (MDAS), enhancing its capabilities as an ISR node for improved maritime domain awareness and autonomous collaboration across various platforms [1][3]. Product Enhancements - The upgraded Merrows™ system offers faster performance, greater stability, and improved security, enabling operators to maintain persistent surveillance in challenging environments [2]. - The system's flexibility allows multiple users to monitor different assets simultaneously, and it now integrates third-party feeds such as global AIS, weather data, and advanced mapping tools [2]. Strategic Importance - The CEO of Ocean Power Technologies emphasized that Merrows™ is becoming essential for maritime operations, supporting autonomous platforms and enhancing decision-making in complex maritime environments [3]. - The enhanced Merrows™ MDAS can operate independently or in conjunction with the company's PowerBuoy platforms and WAM-V Unmanned Surface Vehicles, creating tailored autonomous monitoring networks [3]. Company Overview - Ocean Power Technologies provides intelligent maritime solutions aimed at improving safety, environmental sustainability, and productivity in various sectors, including defense, oil and gas, science, and offshore wind [5]. - The company is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [5].

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 has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is focused on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4] - Automation and software tools, including generative AI, are used, but all content is edited and authored by humans [5]

Core Insights - Ocean Power Technologies, Inc. has opened a new office at the AUVSI headquarters in Washington, D.C., marking a significant milestone in its expansion efforts and commitment to uncrewed systems operations and policy engagement at the national level [1][2] Group 1: Strategic Expansion - The new office enhances collaboration with AUVSI, the largest nonprofit organization focused on uncrewed systems and robotics, and supports industry-wide initiatives like the AUVSI Trusted Operator Program [2][3] - This strategic move allows the company to deepen engagement with key stakeholders in government, industry, and policy [3] Group 2: Growth Strategy - The expansion aligns with the company's broader growth strategy, which includes increasing its fleet of WAM-V® Unmanned Surface Vehicles and advancing its AI-capable Merrows™ Maritime Domain Awareness System [3] - The company aims to deliver persistent offshore infrastructure through its PowerBuoy® platforms [3][5] Group 3: Industry Positioning - By collocating with AUVSI, the company gains access to thought leadership, collaborative opportunities, and real-time engagement with decision-makers in both defense and commercial sectors [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 various financial markets [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 includes insights across 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 [5]

Core Insights - Ocean Power Technologies, Inc. (OPT) is actively participating in shaping the future of marine energy in New Jersey through a joint hearing with state lawmakers, emphasizing the importance of tidal and wave energy [1][2] - The company’s proprietary technologies, including PowerBuoy systems and WAM-V autonomous surface vehicles, are positioned to provide clean energy and environmental monitoring, showcasing New Jersey's potential as a leader in the marine energy sector [2][4] Company Developments - OPT recently achieved a significant milestone with the installation of an AI-capable Merrows™ PowerBuoy for the Naval Postgraduate School, integrating advanced technology for continuous monitoring and real-time data applications [3] - The company’s President and CEO, Philipp Stratmann, highlighted the strategic advantages of New Jersey, including its coastline and industrial base, which could support a global leadership position in marine energy if backed by appropriate policies [2][4] Industry Context - Stratmann called for accelerated actions from lawmakers to foster industry collaboration and enable real-world testing within state waters, which could drive innovation and create high-value jobs while enhancing climate resilience and national security [4] - OPT's offerings include intelligent maritime solutions that cater to various sectors such as defense, oil and gas, and offshore wind, indicating a broad market application for its technologies [6]

Core Viewpoint - Ocean Power Technologies, Inc. (OPTT) has experienced a significant decline in share price despite some operational improvements and strategic initiatives aimed at growth and market expansion [1][2][5]. Financial Performance - Fiscal 2025 revenue grew modestly by 6% to $5.9 million from $5.5 million in fiscal 2024, but gross profit contracted to $1.7 million from $2.8 million [1][2]. - Operating expenses decreased by 28% to $23.3 million from $32.2 million, leading to a narrowed net loss of $21.5 million compared to $27.5 million the previous year [2]. - The diluted net loss per share improved to 17 cents from 47 cents in fiscal 2024, attributed to reduced operating expenses and an increased share count [2]. Business Metrics - The company closed fiscal 2025 with a record backlog of $12.5 million, a 155% increase from $4.9 million at the end of fiscal 2024 [3]. - The sales pipeline surged by 88% year over year, rising from $71.6 million to $137.5 million, indicating strong future revenue potential [3]. Operational Efficiency - Net cash used in operations decreased by 38% to $18.6 million from $29.8 million, and the company ended the year with $6.9 million in cash and equivalents, up from $3.3 million [4]. - A $10 million post-year-end unsecured debt facility was secured to support near-term scaling efforts [4]. Management Insights - The CEO characterized fiscal 2025 as a pivotal year, highlighting the transition from a technology demonstrator to a scaling solutions provider, with successful international deployments of AI-enabled platforms [5]. - The company received Facility Security Clearance from the U.S. Department of Defense, allowing participation in classified contracts and enhancing credibility in government bidding processes [6]. Challenges and Future Outlook - Revenue remained below expectations due to procurement delays linked to U.S. election uncertainty and macroeconomic headwinds, particularly in the defense segment [7]. - Management anticipates improved margins as the project mix shifts towards recurring service revenues and full-scale system deployments [8]. - Confidence in backlog execution and pipeline conversion is strong, with plans to invest cautiously in capacity expansions to meet future demand [9]. Strategic Initiatives - In Q4 of fiscal 2025, Ocean Power signed a $3 million reseller agreement with a Mexican engineering firm to promote maritime solutions in Central America [10]. - Exclusive distribution partnerships were formed in the UAE, Colombia, and Brazil to enhance market reach and reduce customer acquisition costs [11]. - A strategic alliance with Red Cat Holdings was established to integrate military-grade aerial drones with WAM-V surface vehicles, enhancing operational capabilities [12]. - An OEM agreement with Teledyne Marine was signed to co-develop AI-powered integrated payload solutions, reinforcing the company's commitment to innovation [13].

Core Viewpoint - Ocean Power Technologies (OPTT) reported fiscal 2025 earnings showing a modest revenue increase but significant challenges in profitability and gross margin [1][5]. Financial Performance - GAAP revenue for FY2025 was $5.9 million, a 6% increase from $5.5 million in FY2024 [2][5]. - Gross profit declined sharply to $1.7 million, down 39.3% from $2.8 million in FY2024 [2][5]. - Operating expenses were reduced by 27.6%, from $32.2 million in FY2024 to $23.3 million in FY2025 [2][6]. - The net loss decreased to $21.5 million from $27.5 million in FY2024 [2][6]. - Net cash used in operating activities was $18.6 million, down 37.6% from $29.8 million in FY2024 [2][6]. Company Overview and Key Drivers - Ocean Power Technologies designs renewable energy systems and autonomous marine robots for various markets, including offshore monitoring and defense [3]. - The core products include the PowerBuoy®, WAM-V® autonomous surface vehicles, and the Merrows™ command and control system [3]. Growth Strategy - The company focuses on expanding market reach and building recurring revenue through product innovation, new geographies, and strategic partnerships [4]. - The order backlog reached a record $12.5 million, up from $4.9 million, indicating increased visibility for future revenue [10]. Operational Highlights - The company shipped its first AI-enabled Merrows™ PowerBuoy® and deployed a PowerBuoy® integrated with 5G technology [7]. - Strategic partnerships expanded, including a $3 million reseller deal in Mexico and collaborations with Teledyne Marine and Red Cat Holdings [8][9]. Regulatory and Certification Milestones - The company received Department of Defense Facility Security Clearance and attained ISO 9001 certification, enhancing eligibility for government contracts [10]. Future Outlook - Management did not provide explicit financial guidance for fiscal 2026 but highlighted a record backlog and increased international interest as positive indicators [12]. - The company finished FY2025 with $6.9 million in cash, up from $3.3 million [13].

[Executive Summary & Fiscal Year 2025 Overview](index=1&type=section&id=Executive%20Summary) OPT achieved significant FY25 milestones, including substantial backlog and pipeline growth, revenue increase, reduced operating expenses, and key certifications [FY25 Results and Recent Highlights](index=1&type=section&id=FY25%20RESULTS%20and%20RECENT%20HIGHLIGHTS) Ocean Power Technologies (OPT) reported significant operational and financial milestones for fiscal year 2025, including substantial increases in backlog and pipeline, a 6% revenue growth, and a 28% reduction in operating expenses. The company expanded its global presence through key platform deployments and strategic partnerships, while also achieving ISO 9001 certification and a U.S. Department of Defense Facility Security Clearance FY25 Key Financial & Operational Highlights | Metric | FY25 Value (in millions) | FY24 Value (in millions) | Change (%) | Source | | :----- | :----------------------- | :----------------------- | :--------- | :----- | | Backlog (as of Apr 30) | $12.5 | $4.9 | +155% | chunk 2, 11 | | Pipeline (as of release date) | $137.5 | $71.6 (Apr 30, 2024) | +88% | chunk 2 | | Operating Expenses | $23.3 | $32.2 | -28% | chunk 2, 11 | | Revenues | $5.9 | $5.5 | +6% | chunk 2, 11 | - Shipped an AI-enabled Merrows™ PowerBuoy® to a Middle Eastern customer following a competitive procurement[2](index=2&type=chunk) - Secured a new contract with an international defense agency to demonstrate multiple WAM-V® Unmanned Surface Vehicles, expanding OPT's presence in allied naval markets[2](index=2&type=chunk) - Achieved ISO 9001 certification for its quality management system, a globally recognized benchmark for excellence in engineering, manufacturing, and service delivery[3](index=3&type=chunk) - Granted Facility Security Clearance by the U.S. Department of Defense, authorizing support for classified programs at the Secret level and significantly enhancing eligibility for future defense contracts[4](index=4&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary%20%E2%80%93%20Dr.%20Philipp%20Stratmann) Dr. Philipp Stratmann, CEO, highlighted FY25 as a pivotal year for OPT, marking a transition from technology proving to scaling impact. He emphasized the company's success in securing Facility Security Clearance and executing international deployments, positioning OPT's autonomous maritime systems as mission-critical infrastructure. The company enters FY26 with record backlog and growing demand, focusing on disciplined execution, recurring revenue expansion, and platform adoption - Fiscal 2025 was a pivotal year for Ocean Power Technologies, transitioning from proving technology to scaling impact, with key international deployments across the Middle East and Latin America[5](index=5&type=chunk) - AI-enabled Merrows™ PowerBuoy® and WAM-V® platforms are now active in global defense markets, providing clear evidence that OPT's autonomous maritime systems are becoming mission-critical infrastructure[5](index=5&type=chunk) - Entering fiscal 2026 with record backlog of **$12.5 million**, a solid balance sheet, access to additional capital, and growing demand from allied nations, with a focus on disciplined execution, expanding recurring revenue, and accelerating platform adoption[5](index=5&type=chunk) [Business and Operational Achievements](index=1&type=section&id=Business%20and%20Operational%20Achievements) OPT expanded its global presence through strategic platform deployments, key partnerships, and achieved operational excellence with ISO 9001 certification and DoD security clearance [Global Platform Deployments](index=1&type=section&id=Global%20Platform%20Deployments) OPT successfully deployed its AI-enabled Merrows™ PowerBuoy® and WAM-V® systems in critical international and defense applications, demonstrating their capability for persistent maritime surveillance and integration with advanced communication technologies like AT&T 5G - Shipped an AI-enabled Merrows™ PowerBuoy® to a Middle Eastern customer following a competitive procurement[2](index=2&type=chunk) - Secured a new contract with an international defense agency to demonstrate multiple WAM-V® Unmanned Surface Vehicles, expanding OPT's presence in allied naval markets[2](index=2&type=chunk) - Completed a U.S. Naval Postgraduate School deployment of a PowerBuoy® with Merrows™ for persistent maritime surveillance research, integrating AT&T 5G technology and advanced subsea sensors[2](index=2&type=chunk) [Strategic Partnerships & Alliances](index=1&type=section&id=Strategic%20Partnerships) OPT expanded its market reach and solution offerings through several strategic partnerships, including a reseller agreement in Central America, exclusive distribution alliances in the Middle East and South America, and a multi-domain ISR collaboration with Red Cat Holdings - Signed a **$3 million** reseller agreement with a leading Mexican engineering firm to expand reach across Central America through integrated sales and support of OPT's full suite of intelligent maritime solutions[2](index=2&type=chunk) - Formed exclusive distribution and integration alliances with Remah International Group (UAE) for defense and security, Unique Group for WAM-V® deployments across the GCC region, Elektron SAS (Colombia) for a multi-million-dollar purchase, and Ocean Wave Solutions Ltda (Brazil) for South America[2](index=2&type=chunk) - Entered into a strategic alliance with Red Cat Holdings to integrate drone technology with WAM-V® USVs for ocean-powered air and sea-based intelligence, surveillance, and reconnaissance (ISR) missions[6](index=6&type=chunk) - Signed an OEM agreement with Teledyne Marine to co-develop integrated payload and AI solutions[6](index=6&type=chunk) [Operational Excellence & Certifications](index=2&type=section&id=Operational%20Excellence%20%26%20Certifications) OPT achieved ISO 9001 certification, reflecting its evolution into a scalable, process-driven provider, and secured a U.S. Department of Defense Facility Security Clearance, significantly enhancing its eligibility for classified defense contracts. The company also streamlined operations, reducing operating expenses by approximately 26% year over year - Achieved ISO 9001 certification for its quality management system, a globally recognized benchmark for excellence in engineering, manufacturing, and service delivery, supporting growth strategy[3](index=3&type=chunk) - Operating expenses declined by approximately **26%** year over year due to a streamlined team and leaner operating expense structure, increasing operating efficiency without compromising delivery or innovation[4](index=4&type=chunk) - Granted Facility Security Clearance by the U.S. Department of Defense, authorizing support for classified programs at the Secret level and affirming compliance with industrial security standards[4](index=4&type=chunk) [Fiscal Year 2025 Financial Performance](index=3&type=section&id=FY25%20FINANCIAL%20HIGHLIGHTS) OPT reported a 6% revenue increase, a 28% reduction in operating expenses, and a narrower net loss, supported by significant growth in backlog and cash reserves [Key Financial Highlights](index=3&type=section&id=Key%20Financial%20Highlights) For FY25, OPT reported a 6% revenue increase to $5.9 million, alongside a significant 28% decrease in operating expenses. Despite a decline in gross profit, the reduced operating costs led to a narrower net loss of $21.5 million, an improvement of 21.7% compared to FY24 FY25 vs FY24 Income Statement Highlights (in thousands) | Metric | FY25 | FY24 | Change ($) | Change (%) | Source | | :----- | :--- | :--- | :--------- | :--------- | :----- | | Revenue | $5,861 | $5,525 | $336 | +6.1% | chunk 11, 19 | | Cost of Revenue | $4,201 | $2,699 | $1,502 | +55.6% | chunk 19 | | Gross Profit | $1,660 | $2,826 | $(1,166) | -41.2% | chunk 11, 19 | | Operating Expenses | $23,346 | $32,229 | $(8,883) | -27.6% | chunk 11, 19 | | Net Loss | $(21,511) | $(27,483) | $5,972 | -21.7% | chunk 11, 19 | | Basic and Diluted Net Loss Per Share | $(0.17) | $(0.47) | $0.30 | -63.8% | chunk 19 | FY25 vs FY24 Cash & Backlog Highlights (in thousands) | Metric | FY25 | FY24 | Change ($) | Change (%) | Source | | :----- | :--- | :--- | :--------- | :--------- | :----- | | Backlog (as of Apr 30) | $12,500 | $4,900 | $7,600 | +155% | chunk 11 | | Combined Cash, Cash Equivalents & Short-Term Investments (as of Apr 30) | $6,900 | $3,300 | $3,600 | +109.1% | chunk 11 | | Net Cash Used in Operating Activities | $(18,600) | $(29,800) | $11,200 | -37.6% | chunk 11 | [Non-GAAP Measures: Backlog and Pipeline](index=1&type=section&id=Non-GAAP%20Measures%3A%20Pipeline) OPT reported a record backlog of $12.5 million as of April 30, 2025, a 155% increase year-over-year, and a pipeline of $137.5 million, an 88% increase from the prior year. These metrics are considered useful indicators for future revenue expectations and strategic growth, though pipeline is a non-GAAP measure subject to change Backlog and Pipeline Growth | Metric | As of Apr 30, 2025 (in millions) | As of Apr 30, 2024 (in millions) | Change (%) | Source | | :----- | :------------------------------- | :------------------------------- | :--------- | :----- | | Backlog | $12.5 | $4.9 | +155% | chunk 2, 11 | | Pipeline | $137.5 (as of release date) | $71.6 | +88% | chunk 2 | - Backlog includes unfilled firm written orders for products and services, serving as a useful metric for investors to support future revenue expectations and validate strategic growth plans[11](index=11&type=chunk) - Pipeline is a non-GAAP measure representing the journey potential customers take, used to track sales progress and identify roadblocks, but revenue estimates can be subject to change due to various factors[12](index=12&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of April 30, 2025, OPT's total assets increased to $30.8 million from $28.7 million in the prior year, primarily driven by a significant increase in cash and cash equivalents and contract assets. Total liabilities significantly decreased by 55.8% to $4.1 million, mainly due to reductions in accounts payable and earn out payable, contributing to a 37.8% increase in total shareholders' equity to $26.7 million Consolidated Balance Sheet Highlights (in thousands) | Metric | April 30, 2025 | April 30, 2024 | Change ($) | Change (%) | Source | | :----- | :------------- | :------------- | :--------- | :--------- | :----- | | Total Assets | $30,793 | $28,704 | $2,089 | +7.3% | chunk 17 | | Cash and cash equivalents | $6,715 | $3,151 | $3,564 | +113.1% | chunk 17 | | Contract assets | $1,088 | $18 | $1,070 | +5944.4% | chunk 17 | | Total Liabilities | $4,141 | $9,360 | $(5,219) | -55.8% | chunk 17 | | Accounts payable | $568 | $3,366 | $(2,798) | -83.1% | chunk 17 | | Earn out payable | $300 | $1,130 | $(830) | -73.5% | chunk 17 | | Total Shareholders' Equity | $26,652 | $19,344 | $7,308 | +37.8% | chunk 17 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) For FY25, OPT's revenue increased by 6.1% to $5.86 million, while cost of revenue rose significantly by 55.6%, leading to a 41.2% decrease in gross profit. However, a substantial 27.6% reduction in operating expenses helped narrow the net loss by 21.7% to $21.51 million, resulting in a basic and diluted net loss per share of $(0.17) Consolidated Statements of Operations (in thousands, except per share data) | Metric | FY25 | FY24 | Change ($) | Change (%) | Source | | :----- | :--- | :--- | :--------- | :--------- | :----- | | Revenue | $5,861 | $5,525 | $336 | +6.1% | chunk 19 | | Cost of revenue | $4,201 | $2,699 | $1,502 | +55.6% | chunk 19 | | Gross profit | $1,660 | $2,826 | $(1,166) | -41.2% | chunk 19 | | Operating expenses | $23,346 | $32,229 | $(8,883) | -27.6% | chunk 19 | | Operating loss | $(21,686) | $(29,331) | $7,645 | -26.1% | chunk 19 | | Net loss | $(21,511) | $(27,483) | $5,972 | -21.7% | chunk 19 | | Basic and diluted net loss per share | $(0.17) | $(0.47) | $0.30 | -63.8% | chunk 19 | | Weighted average shares | 126,913,998 | 59,031,736 | 67,882,262 | +115.0% | chunk 19 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In FY25, net cash used in operating activities significantly decreased to $18.63 million from $29.76 million in FY24, primarily due to a lower net loss and favorable changes in working capital. Investing activities used $0.51 million, while financing activities provided $22.70 million, mainly from proceeds from convertible notes and common stock issuances, resulting in a net increase in cash, cash equivalents, and restricted cash of $3.56 million Consolidated Statements of Cash Flows Highlights (in thousands) | Metric | FY25 | FY24 | Change ($) | Source | | :----- | :--- | :--- | :--------- | :----- | | Net cash used in operating activities | $(18,634) | $(29,763) | $11,129 | chunk 21 | | Net cash (used in)/provided by investing activities | $(505) | $25,496 | $(26,001) | chunk 21 | | Net cash provided by/(used in) financing activities | $22,703 | $469 | $22,234 | chunk 21 | | Net decrease in cash, cash equivalents and restricted cash | $3,564 | $(3,798) | $7,362 | chunk 21 | | Cash, cash equivalents and restricted cash, end of year | $6,869 | $3,305 | $3,564 | chunk 21 | - Proceeds from issuance of common stock (At The Market offering) were **$17.73 million** in FY25, significantly up from $0.48 million in FY24[21](index=21&type=chunk) - Proceeds from convertible notes were **$3.17 million** in FY25[21](index=21&type=chunk) [Additional Information](index=3&type=section&id=Additional%20Information) This section provides an overview of Ocean Power Technologies' intelligent maritime solutions, details for the upcoming conference call, forward-looking statement disclaimers, and contact information [About Ocean Power Technologies](index=3&type=section&id=About%20Ocean%20Power%20Technologies) Ocean Power Technologies (OPT) provides intelligent maritime solutions and services for diverse markets including defense and security, oil and gas, science and research, and offshore wind. Their core offerings include PowerBuoy® platforms for clean power and real-time data communications, as well as WAM-V® autonomous surface vessels and marine robotics services - 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[9](index=9&type=chunk) - The company's PowerBuoy® platforms provide clean and reliable electric power and real-time data communications, while they also offer WAM-V® autonomous surface vessels (ASVs) and marine robotics services[9](index=9&type=chunk) [Conference Call & Webcast Details](index=3&type=section&id=Conference%20Call%20%26%20Webcast) OPT will host a conference call on Friday, July 25, 2025, at 9:00 a.m. Eastern time to discuss its financial results, with CEO Philipp Stratmann and CFO Bob Powers. Details for accessing the live webcast, dial-in numbers, and replay options (both telephone and archived webcast) are provided - A conference call to discuss OPT's financial results will be held on Friday, July 25, 2025, at 9:00 a.m. Eastern time, hosted by CEO Philipp Stratmann and CFO Bob Powers[8](index=8&type=chunk)[11](index=11&type=chunk) - Live webcast and call replay options are available, with the replay accessible by telephone until August 26, 2024, and the archived webcast available on the OPT investor relations website[11](index=11&type=chunk) [Forward-Looking Statements & SEC Filings](index=4&type=section&id=Forward-Looking%20Statements) This release contains forward-looking statements, identified by specific phrases, which reflect current expectations but are subject to assumptions, estimates, risks, and uncertainties as outlined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to unduly rely on them, and the company disclaims any obligation to update these statements. Further information on risks is available in the company's 10-Q and 10-K filings with the SEC - This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, identified by certain words or phrases such as 'may', 'will', 'believe', 'expect', 'anticipate', 'estimate', 'intend', 'plan', 'future', 'should', and similar expressions[13](index=13&type=chunk) - These forward-looking statements rely on assumptions and estimates that could be inaccurate and are subject to risks and uncertainties, with actual results potentially varying materially from those anticipated[13](index=13&type=chunk) - Readers are advised to refer to the Company's most recent Forms 10-Q and 10-K and subsequent SEC filings for further discussion of these risks and uncertainties[13](index=13&type=chunk)[14](index=14&type=chunk) - The Company expressly disclaims any obligation to publicly update or revise any forward-looking statements after the date of this press release, except as required by applicable law[13](index=13&type=chunk) [Contact Information](index=4&type=section&id=Contact%20Information) Contact details for investor relations and media inquiries are provided, including dedicated phone numbers and email addresses for each - Investors can contact via 609-730-0400 x401 or InvestorRelations@oceanpowertech.com[15](index=15&type=chunk) - Media can contact via 609-730-0400 x402 or MediaRelations@oceanpowertech.com[15](index=15&type=chunk)

Core Viewpoint - Ocean Power Technologies, Inc. reported its Q4 and full fiscal year 2025 earnings, highlighting key financial metrics and future outlook [1]. Financial Performance - The earnings press release and annual report for the period ended April 30, 2025, were issued after market close on July 24, 2025 [3]. - The company’s public filings are accessible on the SEC website and the Investor Relations section of its website [3]. Management Commentary - The call featured insights from Dr. Philipp Stratmann, President and CEO, and Bob Powers, Senior VP and CFO, who provided updates on the company's performance and strategic direction [2].

Financial Data and Key Metrics Changes - Fiscal year 2025 was a record year for revenue, generating $5.9 million, a 7% increase from $5.5 million in the prior year [24] - Operating expenses decreased by 27% to $23.4 million from $32.2 million in FY 2024, reflecting cost optimization efforts [26] - The company's loss improved by 22%, decreasing from $27.5 million to $21.5 million [26] - Total cash position increased to $6.7 million from $3.2 million at the close of FY 2024 [27] - Net cash used in operating activities improved by over 38%, from $29.8 million in FY 2024 to $18.6 million [27] Business Line Data and Key Metrics Changes - The backlog reached $12.5 million, the highest in the company's history, reflecting strong customer confidence and multi-quarter fulfillment of contracts [8][24] - The backlog is well-diversified across buoys, vehicles, and associated services, with an uptick in service revenues related to training [42] Market Data and Key Metrics Changes - Expansion in Latin America significantly contributed to FY 2025 revenue and backlog, indicating a focus on high-growth international markets [25] - The company has established a meaningful global footprint in allied defense and commercial markets through deployments in the Middle East, Latin America, and the Indo-Pacific [8] Company Strategy and Development Direction - The company aims to lead in the sustainable data-driven blue economy, focusing on diversifying revenue, scaling operations, and improving margins [21] - Strategic partnerships with defense, drone, and subsea leaders are being expanded to enhance market access and reduce customer acquisition costs [9][14] - The company has retooled its go-to-market strategy to emphasize scalable, repeatable sales and improve customer engagement [15][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in fiscal year 2026 marking a step function in execution towards sustained growth and profitability [20] - The company is prepared to scale responsibly as opportunities mature, with a focus on converting backlog into deliveries [12][28] - Management acknowledged headwinds in fiscal year 2025 due to election-related uncertainty and macroeconomic volatility but remains optimistic about future demand [18][19] Other Important Information - The company achieved ISO 9001 certification for its quality management system, enhancing its credibility and operational foundation [16][17] - The company is no longer solely focused on wave energy but has evolved into a multi-solution platform provider for maritime domain awareness [20][21] Q&A Session Summary Question: Inquiry about the pipeline and its conversion - Management explained that the pipeline consists of actual opportunities under discussion with customers, and they are confident in increasing conversion rates due to recent leadership changes [33][35] Question: Capacity to meet demand - Management confirmed that facilities are designed for quick scaling, with a focus on working capital management to avoid excess inventory [36] Question: Breakdown of backlog by product type - Management indicated a healthy split in the backlog between buoys, vehicles, and services, with increasing service revenues related to training [41][42] Question: Future gross margin expectations - Management anticipates an uptick in gross margins as the company transitions to operational use of systems and increases service revenues, which carry higher margins [43][44]