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 |
| 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 | |
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