| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.42 | 64.4% | 82.6% |
| Total Income | 0.42 | 64.4% | 82.6% |
| Expenditure | 10.55 | 27.7% | 66.7% |
| PBT | -10.83 | 46.5% | 177.0% |
| Net Profit | -10.83 | 46.5% | 177.0% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.06 | 50.0% | 50.0% |
Ocean Power Technologies Reports Q2 FY26 Results; Backlog Increases to $15.0 Million
04 May 2026 · 4 May, 6:55 am
Summary
Ocean Power Technologies announced its second quarter fiscal 2026 results, reporting a backlog increase to $15.0 million, a nearly 300% increase year-over-year. The company's pipeline also saw a significant increase, reaching $137.5 million, a 63% rise from the previous year. Revenue for the quarter was $0.4 million, down from $2.4 million in the same period last year, primarily due to the U.S. federal government shutdown. The net loss for the quarter was $10.8 million, compared to $3.9 million in the prior year.
Key Highlights
- 1
Ocean Power Technologies' backlog at October 31, 2025, increased by $11.2 million to approximately $15.0 million, representing nearly a 300% increase over the prior year period.
- 2
The company's pipeline as of October 31, 2025, stands at $137.5 million, a 63% increase of $53.1 million over the $84.4 million pipeline at October 31, 2024.
- 3
OPT shipped eight WAM-V® autonomous surface vehicles during the quarter, marking a strategically meaningful milestone.
- 4
Revenues for the quarter ended October 31, 2025, were $0.4 million, compared to $2.4 million for the same period in 2024.
- 5
Revenues for the six months ended October 31, 2025, were $1.6 million, compared to $3.7 million for the same period in 2024.
- 6
Net losses for the three months ended October 31, 2025, were $10.8 million, compared to $3.9 million for the same period in 2024.
- 7
Combined cash, unrestricted cash, cash equivalents, and short-term investments as of October 31, 2025, was $11.7 million, compared to $6.7 million at the beginning of the fiscal year.
Management Comments
Philipp Stratmann
“Despite the federal government being shut down for nearly half of our fiscal quarter, we continued to expand our pipeline and strengthen our position across our key markets. With operations now fully reopened, we are confident in the conversion of that pipeline into backlog. We believe that the heightened focus on national security and the southern maritime border has accelerated customer urgency, and we have already begun ramping buoy readiness for expected deployments. Internationally, we completed critical demonstrations in Latin America and the UAE for both defense and commercial customers, and we maintained our vehicle production cadence, shipping a WAM-V roughly every two to three weeks to meet demo and milestone commitments. We are executing with intensity and positioning OPT for meaningful growth.”
Informational and educational content only. Not investment advice.