Ocean Power Technologies (OPTT -14.83%), a provider of renewable energy and autonomous maritime systems, reported earnings for fiscal 2025 on July 24, 2025. The company delivered GAAP revenue of $5.9 million, an increase of 6% over the prior year. Gross profit (GAAP) declined sharply to $1.7 million compared to $2.8 million in FY2024. Operating expenses were cut by 28%, leading to a reduced net loss of $21.5 million, down from $27.5 million for FY2024. There were no consensus analyst estimates to compare ag ...

Core Insights - Ocean Power Technologies, Inc. (OPT) reported a record backlog of $12.5 million, representing a 158% increase year-over-year, and a pipeline of $137.5 million, an 88% increase from the previous year [2][5] - The company achieved revenues of $5.9 million for FY25, a 6% increase compared to FY24, while operating expenses decreased by 28% to $23.3 million [2][6] - OPT secured significant contracts and partnerships, including a $3 million reseller agreement in Mexico and collaborations with various international defense agencies [2][5] Financial Performance - Revenues for FY25 were $5.9 million, up from $5.5 million in FY24, while gross profit decreased to $1.7 million from $2.8 million [6][19] - Operating expenses were reduced by $8.9 million, or 28%, from $32.2 million in FY24 to $23.3 million in FY25 [2][6] - The net loss for FY25 was $21.5 million, an improvement from a net loss of $27.5 million in FY24 [6][19] Strategic Developments - The company shipped an AI-enabled Merrows™ PowerBuoy® to a Middle Eastern customer and secured a contract with an international defense agency for WAM-V® Unmanned Surface Vehicles [2][5] - OPT formed strategic partnerships with various firms, including Remah International Group and Unique Group, to expand its market presence in the Middle East and Latin America [2][5] - The company achieved ISO 9001 certification, enhancing its credibility and operational efficiency [4] Operational Highlights - The company’s operating model has been streamlined, resulting in a 26% reduction in operating expenses year-over-year while maintaining delivery capabilities [4] - OPT received a Facility Security Clearance from the U.S. Department of Defense, enhancing its eligibility for classified programs [4][5] - The company’s cash and cash equivalents increased to $6.9 million as of April 30, 2025, compared to $3.3 million at the beginning of the fiscal year [12]