Ocean Power Technologies FY26 net loss widens to $43.68 million; revenue falls to $4.08 million

Reuters2026/07/23 20:39

By:Reuters

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Ocean Power Technologies posted FY26 net loss of USD 43.68 million, widening from USD 21.51 million a year earlier.
Revenue fell to USD 4.08 million as cost of revenue climbed to USD 12.21 million, swinging gross margin to a loss of USD 8.14 million.
Backlog rose 58% to a record USD 19.8 million; sales pipeline increased to USD 142.3 million.
Secured a roughly USD 6.5 million multi-PowerBuoy maritime domain awareness program supporting the U.S. Coast Guard, its largest deployment and recurring-revenue contract.
Philipp Stratmann said FY26 marked a shift to operational deployments; FY27 priorities include executing the Coast Guard program and converting backlog into revenue.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ocean Power Technologies Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607231615PRIMZONEFULLFEED9767303) on July 23, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Ocean Power Technologies FY26 net loss widens to $43.68 million; revenue falls to $4.08 million

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