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
MONROE TOWNSHIP NJ 08831
Tel: N/A
Website: https://oceanpowertechnologies.com
IR: See website
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Key People
Philipp Stratmann
President, Chief Executive Officer, Director
Robert P. Powers
Chief Financial Officer, Senior Vice President, Principal Accounting Officer
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 nine months ended 31 January 2024, Ocean Power Technologies Inc revenues increased from $1.8M to $4M. Net loss increased 24% to $20.8M. 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 26% to $24.6M (expense), (Gain)/loss from change in fair value of decrease from $1.2M (income) to $0K, Other income.
Employees: 72 as of Apr 30, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $2.02M as of Jan 31, 2024
Annual revenue (TTM): $4.93M as of Jan 31, 2024
EBITDA (TTM): -$31.99M as of Jan 31, 2024
Net annual income (TTM): -$30.30M as of Jan 31, 2024
Free cash flow (TTM): -$32.27M as of Jan 31, 2024
Net Debt Last Fiscal Year: N/A
Shares outstanding: 59,463,573 as of Mar 11, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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