Ocean Power Technologies Inc (A:OPTT)

Business Focus: Renewable Energy Equipment & Services

Sector:  Energy Industry:  Renewable Energy Equipment & Services
See Regulatory Filings on SEC
Company Contact
Address: 28 Engelhard Drive, Suite B
Tel: N/A
Website: https://oceanpowertechnologies.com
IR: See website
Key People
Philipp Stratmann
President, Chief Executive Officer, Director
Robert P. Powers
Chief Financial Officer, Senior Vice President
Joseph Dipietro
Principal Accounting Officer, Controller, Treasurer
Matthew Burdyny
Chief Commercial Officer
Business Overview
Ocean Power Technologies, Inc. provides ocean data collection and reporting, marine power, offshore communications and domain awareness services products, and integrated solutions. The Company focuses on three major service areas: Data as a Service (DaaS), which includes data collected by its Wave Adaptive Modular Vessel (WAM-V) autonomous vehicles or its PowerBuoy product lines; Robotics as a Service (RaaS), which provides a lower cost subscription model for its customers to access use of its WAM-Vs, and Power as a Service (PaaS), which includes its PowerBuoy and subsea battery products. The Company's solutions are primarily suited to ocean and other offshore environments, and support generation of actionable intelligence on a standalone basis. The Company offers its products and services to a wide range of customers, including those in government and offshore energy, oil and gas, construction, wind power and other industries.
Financial Overview
For the three months ended 31 July 2023, Ocean Power Technologies Inc revenues increased 78% to $1.3M. Net loss increased 20% to $7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Operating expenses increase of 28% to $8.1M (expense), Gain from change in fair value of consid decrease of 53% to $62K (income).
Employees: 72 as of Apr 30, 2023
Reporting Currency: U.S. Dollars
Enterprise value: N/A
Annual revenue (TTM): $3.29M as of Jul 31, 2023
EBITDA (TTM): -$30.23M as of Jul 31, 2023
Net annual income (TTM): -$27.51M as of Jul 31, 2023
Free cash flow (TTM): -$25.70M as of Jul 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 58,788,718 as of Dec 4, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

Thank you for visiting InsiderTracking.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you wish to consider using a browser that blocks ads, please log in or subscribe.

Alternatively, if you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). If you are in private browsing mode and do not want to subscribe, please disable tracking protection while visiting our website.

Thank you for using Insider Tracking.