Quarterly ResultJul 23, 2026, 04:18 PM
Ocean Power Technologies FY26 Backlog $19.8M; Transforms to Defense Tech
AI Summary
Ocean Power Technologies announced its fiscal fourth quarter and full-year 2026 financial results, highlighting a transformational year into an operational defense technology provider. The company secured its largest deployment and recurring revenue contract, an approximately $6.5 million program with the U.S. Coast Guard, and built a record backlog of $19.8 million, a 58% increase year-over-year. While Fiscal 2026 revenue was $4.1 million and net loss was $(43.681) million, management emphasized strategic investments for long-term growth and the establishment of an operational foundation for Fiscal 2027 execution.
Key Highlights
- Secured largest contract in company history: $6.5 million multi-PowerBuoy® program with U.S. Coast Guard.
- Record backlog increased 58% to $19.8 million at April 30, 2026.
- Sales pipeline grew to $142.3 million, reflecting demand across defense, security, and commercial markets.
- Fiscal 2026 revenue was $4.1 million.
- Fiscal 2026 net loss was $(43.681) million, or $(0.22) per share.
- Operating expenses included $9.5 million in non-cash stock-based compensation.
- Cash, cash equivalents, and short-term investments totaled $8.7 million at April 30, 2026.
Price Impact
More from OPTT