Ocean Power Technologies, Inc. OPTT
Power Technologies, Inc. ("OPT," "we," "our," or "the Company") is a Maritime Domain
Awareness (MDA) company specializing in innovative intelligent maritime solutions. These solutions include a variety of "as a service"
systems, including Data as a Service (DaaS), Robotics as a Service (RaaS), and Power as a Service (PaaS). These systems consist of a
variety of platforms including the PowerBuoy®, our persistent sensor and power solution, the WAM-V® (Wave Adaptive Modular Vessel),
Last close
0.19
2026-09-04
Market cap
$50.6M
2026-04-30 share count
52-week range
0.13 - 0.72
Valuation FY2025 figures against the last close
P/S72.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.25
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $700.0K | $5.9M | $5.5M | $2.7M | $1.8M | $1.2M | $1.7M | $632.0K | $511.0K | $843.0K |
| Cost of revenue | $9.7M | $4.2M | $2.7M | $2.5M | $1.9M | $2.3M | $1.8M | $1.3M | $763.0K | $938.0K |
| Gross profit | -$5.9M | $1.7M | $2.8M | $236.0K | -$101.0K | -$1.1M | -$105.0K | -$671.0K | -$252.0K | -$95.0K |
| R&D | — | $3.6M | $7.7M | $10.0M | — | — | — | — | — | — |
| SG&A | $3.6M | $2.9M | — | — | — | $7.8M | $6.9M | $7.6M | $7.0M | $6.6M |
| Total operating expenses | $32.4M | $23.3M | $32.2M | $29.5M | $21.5M | $12.5M | $11.3M | $12.6M | $11.3M | $11.6M |
| Operating income | -$38.4M | -$21.7M | -$29.3M | -$29.2M | -$21.6M | -$13.6M | -$11.4M | -$13.3M | -$11.6M | -$11.7M |
| Interest expense | $124.0K | $47.0K | $800.0K | $902.0K | $124.0K | $124.0K | $124.0K | $35.0K | $83.0K | $28.0K |
| Pre-tax income | -$48.9M | -$25.5M | -$28.7M | -$26.6M | -$20.7M | -$14.8M | -$11.2M | -$13.1M | -$11.3M | -$10.2M |
| Income tax | — | $1.0M | $1.3M | $278.0K | $1.8M | — | $895.0K | $850.0K | $1.1M | $698.0K |
| Net income | -$48.9M | -$24.5M | -$27.5M | -$26.3M | -$18.9M | -$14.8M | -$10.4M | -$12.2M | -$10.2M | -$9.5M |
| EPS, basic | -0.25 | -0.19 | -0.47 | -0.47 | -0.35 | -0.49 | — | — | — | — |
| EPS, diluted | -0.25 | -0.19 | -0.47 | -0.47 | -0.35 | -0.49 | -1.44 | -9.52 | -13.24 | -2.23 |
| Shares, diluted (wtd. avg.) | $194.3M | $126.9M | $59.0M | $56.0M | $54.01B | $30.02B | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.7M | $6.7M | $3.2M | $6.9M | $7.9M | $83.0M | $10.0M | $16.7M | $11.5M | $8.4M |
| Short-term investments | — | — | — | $27.8M | $49.4M | — | — | — | $25.0K | $25.0K |
| Receivables | $587.0K | $1.2M | $796.0K | $745.0K | $482.0K | $350.0K | $105.0K | $63.0K | $171.0K | $48.0K |
| Inventory | $3.2M | $4.2M | $4.8M | $1.0M | $442.0K | — | — | — | — | — |
| Total current assets | $15.9M | $13.6M | $10.5M | $37.7M | $59.3M | $84.4M | $11.7M | $17.6M | $13.3M | $9.7M |
| Property, plant and equipment | $10.3M | $3.4M | $3.4M | $1.3M | $445.0K | $406.0K | $499.0K | $592.0K | $712.0K | $170.0K |
| Goodwill | $8.5M | $8.5M | $8.5M | $8.5M | $8.5M | — | — | — | — | — |
| Other intangibles | $3.4M | $3.5M | $3.6M | $4.0M | $4.1M | $274.0K | — | — | — | — |
| Total assets | $39.9M | $30.8M | $28.7M | $53.4M | $73.4M | $86.4M | $13.5M | $18.4M | $14.1M | $10.1M |
| Accounts payable | $4.4M | $568.0K | $3.4M | $952.0K | $905.0K | $687.0K | $220.0K | $312.0K | $290.0K | $586.0K |
| Short-term debt | — | — | — | — | — | $495.0K | — | — | — | — |
| Total current liabilities | $26.4M | $3.3M | $7.4M | $7.9M | $3.0M | $4.7M | $1.9M | $2.4M | $3.7M | $4.6M |
| Long-term debt | $12.0M | — | — | — | — | $396.0K | — | — | — | — |
| Total liabilities | $27.4M | $4.1M | $9.4M | $9.4M | $4.6M | $5.9M | $3.0M | $2.6M | $3.9M | $4.6M |
| Retained earnings | -$381.0M | -$332.0M | -$307.6M | -$280.1M | -$253.8M | -$234.9M | -$220.1M | -$209.8M | -$197.5M | -$187.4M |
| Total equity | $12.5M | $26.7M | $19.3M | $44.0M | $68.8M | $80.5M | $10.5M | $15.8M | $10.2M | $5.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$20.8M | -$18.6M | -$29.8M | -$21.7M | -$21.3M | -$11.7M | -$10.6M | -$12.1M | -$10.7M | -$10.0M |
| Depreciation and amortisation | $895.0K | $771.0K | $420.0K | $183.0K | $144.0K | $143.0K | $158.0K | $180.0K | $122.0K | $140.0K |
| Stock-based compensation | $9.5M | $4.6M | $1.2M | $1.5M | $1.2M | $721.0K | $340.0K | $295.0K | $329.0K | $1.2M |
| Capital expenditure | $4.0M | $505.0K | $2.6M | $648.0K | $145.0K | $26.0K | $65.0K | $54.0K | — | — |
| Investing cash flow | -$4.0M | -$505.0K | $25.5M | $20.5M | -$54.0M | $74.0K | -$65.0K | -$29.0K | -$658.0K | $13.0K |
| Financing cash flow | $26.8M | $22.7M | $469.0K | -$14.0K | $87.0K | $84.2M | $4.4M | $17.2M | $14.6M | $11.9M |
| Buybacks | — | — | $14.0K | $14.0K | $3.0K | $36.0K | $1.0K | $1.0K | $37.0K | $125.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-039261.
Others in SIC 4911
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|---|---|---|---|---|
| NEE | NEXTERA ENERGY INC | $173.98B | 25.3x | 9.8% |
| CEG | Constellation Energy Corp | $105.92B | 40.4x | 19.5% |
| AEP | AMERICAN ELECTRIC POWER CO INC | $67.74B | 18.7x | 8.7% |
| D | DOMINION ENERGY, INC | $57.90B | 19.1x | 16.5% |
| VST | Vistra Corp. | $50.11B | 68.5x | 19.1% |
| DTE | DTE ENERGY CO | $28.31B | 19.4x | — |
| FE | FIRSTENERGY CORP | $27.05B | 26.6x | 12.0% |
| ES | EVERSOURCE ENERGY | $26.76B | 15.6x | 14.3% |