Core Insights - The company has achieved a U.S. Department of Defense Facility Security Clearance at the Secret level, significantly expanding its eligibility for classified defense work and enhancing its market potential [2][6] - The company entered fiscal year '26 with a record funded backlog of $12.5 million, reflecting strong customer confidence and multi-quarter fulfillment of contracts [1][16] - Fiscal 2025 was a transformational year, with a 7% increase in revenue to $5.9 million, achieved alongside a 26% reduction in operating expenses [16][18] Group 1: Market Position and Strategy - The clearance allows the company to compete in high-value multiyear programs, expanding its addressable market and partnership potential [1][2] - The company has established a global footprint in allied defense and commercial markets through deployments of its AI-capable platforms [5][6] - Key partnerships with defense and drone leaders have been expanded, improving integration and reducing customer acquisition costs [5][9] Group 2: Financial Performance - Revenue for fiscal 2025 was $5.9 million, a 7% increase from $5.5 million in the previous year, while operating expenses decreased by 27% to $23.4 million [16][18] - The company improved its loss for the year by 22%, from $27.5 million to $21.5 million, indicating effective cost management while growing the business [18][20] - Total cash position increased to $6.7 million from $3.2 million, bolstered by a $10 million unsecured debt financing [19][20] Group 3: Operational Efficiency and Growth - The company has restructured its sales organization to enhance mission alignment and operational efficiency, positioning itself for scalable growth [7][10] - Achieving ISO 9001 certification reflects the company's commitment to quality and operational excellence, which is crucial for long-term customer engagement [11][12] - The backlog consists of a healthy mix of products and services, indicating a diversified approach to revenue generation [29][30] Group 4: Future Outlook - The company is optimistic about fiscal '26, expecting to convert backlog into deliveries and maintain tight expense control [21][22] - There is confidence in increasing conversion rates for qualified opportunities as the market recognizes the importance of hybrid fleets and unmanned operations [24][28] - The focus remains on delivering consistent performance and long-term value for shareholders while expanding into new channels [18][21]

Company Overview - Ocean Power Technologies, Inc. (OPT) is a leader in innovative and cost-effective low-carbon marine power, data, and service solutions [1] - The company provides intelligent maritime solutions for various markets including defense, oil and gas, science and research, and offshore wind [2] - OPT's offerings include PowerBuoy platforms for clean electric power and real-time data communications, as well as WAM-V autonomous surface vessels and marine robotics services [2] Earnings Announcement - OPT will release its earnings for the fiscal 2026 first quarter, covering the period ended July 31, 2025, after market close on September 15, 2025 [1] Investor Relations - To enhance relations with institutional investors, OPT management is hosting individual meetings with portfolio managers and analysts [2]