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Ocean Power Technologies, Inc. (OPTT) stock

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NYSE: OPTT NYSE Renewable Electricity Next results ~December 14, 2026

E Fundamentals grade

Ocean Power Technologies, Inc. is a US-listed company in the renewable electricity industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$0.9

Book value (net assets)

Base case. Range ~$0.9–$0.9. Net assets per share: the value if returns just equal the cost of equity.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling3 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds38 adding, 23 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ocean Power Technologies files

Where Ocean Power Technologies stands after its latest 10-Q

Ocean Power Technologies has little or no product revenue yet; it used $28m of cash in the twelve months to July 2026. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 6 financial-health checks. Our book value value is $1.03 a share, against a share price of $0.43.

Source: 10-Q filed September 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 14, 2026 (estimated)

Ocean Power Technologies, Inc.'s trailing-twelve-month revenue fell 25.8% year on year, with a free-cash-flow margin of -659.7%. Where it lags: revenue growth of -25.8% ranks 10 of 10 renewable electricity companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 42.6% while net income fell 90.0%: a 47pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

Nothing in Ocean Power Technologies, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 25.8% over the last 12 months.
  • Loss-making. Operating margin is -1088.8%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 665.7 points on a year ago.
  • Burning cash. Free cash flow was -659.7% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 209.4% of revenue, against a median of 1.8% for renewable electricity companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 71.0% in a year.

Latest results: FY2027 Q1

Filed September 14, 2026
Earnings per share
-$1.28 against an average estimate of -$0.90: missed by 42.2%
Revenue
$2m, up 44.1% on a year earlier
Share reaction
+5.6% in the first session after the results on August 24, 2026, against 0.0% for the S&P 500
Next report
December 14, 2026

Ocean Power Technologies' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week-31.7%
  • 1 month-59.8%
  • This year-95.4%
  • 1 year-97.3%
  • 5 years-99.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.3M
Operating margin
-1088.8%
Net margin
-1222.8%

Growth

Revenue growth
−25.8%
Change in growth rate
+10.4 pts

Cash

Free cash flow (TTM)
-$28.1M
FCF margin
-659.7%
Stock pay % of revenue
209.4%

Earnings

Last results
August 24, 2026
Next results (est.)
November 20, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Agreement
  4. Leadership
  5. Shareholder vote
  6. Results
  7. Announcement
  8. Announcement
  9. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Ocean Power Technologies, Inc. as an utility or power producer, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.34 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. — Does not apply: net income is not positive
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: pays no regular dividend
Book value (net assets) Net assets per share: the value if returns just equal the cost of equity. ~$0.9 Primary model, counts double
Combined value Weighted average of the models that apply: the primary model (book value (net assets)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$0.9 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ocean Power Technologies, Inc. with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

Ocean Power Technologies, Inc.: market value and multiples by fiscal year
At fiscal year end 20162017201820192020202120222023202420252026
Share price$1134.00$858.00$660.00$83.40$13.50$75.30$31.80$15.30$5.70$12.30$10.80
Market value$410.5bn$731m$2.0bn$429m$389m$2.3bn$1.7bn$857m$336m$1.6bn$2.1bn
+ Net debt (− = net cash)−$7m−$8m−$11m−$17m−$10m−$82m−$8m−$7m−$3m−$7m$3m
Enterprise value$410.5bn$723m$2.0bn$413m$379m$2.2bn$1.7bn$850m$333m$1.6bn$2.1bn
Multiples
Price / sales n/mn/mn/mn/mn/mn/mn/mn/m60.9xn/mn/m
Price / earnings ———————————
Price / free cash flow ———————————
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

8 /100

Weak moat

How hard Ocean Power Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -46.3% of total assets over 6 years.

  • Pricing power 0 / 20

    Gross margin has been a median -14.6%, moving by 73.7 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -1055.9%; its worst year was -3489.0%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -714.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 14, 2026, after the close. Analysts expect revenue of $3m for the quarter.

Analysts' consensus

Ocean Power Technologies, Inc.: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current −$3.45 +48% $14m +255%
Next −$1.80 +48% $33m +131%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +27.8% on 90 days ago. In the last 30 days, 0 analysts raised Ocean Power Technologies, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Ocean Power Technologies, Inc., last 90 days
−$4.00 −$3.00 −$2.00 −$1.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$2.70 Current fiscal year, 60 days ago: −$2.70 Current fiscal year, 30 days ago: −$2.70 Current fiscal year, 7 days ago: −$2.70 Current fiscal year, Now: −$3.45 −$3.45 Next fiscal year, 90 days ago: −$1.20 Next fiscal year, 60 days ago: −$1.20 Next fiscal year, 30 days ago: −$1.20 Next fiscal year, 7 days ago: −$1.20 Next fiscal year, Now: −$1.80 −$1.80

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$2.70−$1.20
60 days ago −$2.70−$1.20
30 days ago −$2.70−$1.20
7 days ago −$2.70−$1.20
Now −$3.45−$1.80

Earnings against estimates

Ocean Power Technologies, Inc.: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Jul 2026 −$0.90 −$1.28 −42.2%
Apr 2026 −$3.45 −$1.80 +47.8%
Jan 2026 −$1.35 −$1.80 −33.3%
Oct 2025 −$0.60 −$1.80 −200.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622

Counts of recommendations published by analysts covering Ocean Power Technologies, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
16.4%
of tradable shares
Days to cover
1.88
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
12%
of shares
Held by insiders
4.1%
of shares
Employees
65
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Ocean Power Technologies, Inc.: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
OPTT−45%−70%−29%+219%−71%−95%
Industry peers (median)+4%−14%−19%−33%+36%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OPTT33%33%33%33%25%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OPTT−75%−73%−65%−73%−82%−98%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 100% from July 20, 2016 to October 30, 2026. Getting back needed a 2036973% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.41 – $21.00
From 52-week high
−98.0%
vs 50-day average
−81.9%
vs 200-day average
−94.9%
Volatility (1 year)
127%
Beta vs S&P 500
3.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±11.3%
After a week
2 up, 10 down
typical move ±32.5%
After a month
4 up, 8 down
typical move ±39.3%
Ocean Power Technologies, Inc.: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
August 24, 2026 +5.6% 0.0% −5.6% −59.3%
July 23, 2026 −16.7% −1.1% −11.1% 0.0%
March 13, 2026 0.0% +0.4% −17.1% −7.3%
December 16, 2025 +10.0% −1.4% +16.7% +40.0%
September 16, 2025 −7.3% −0.3% −9.1% +1.8%
July 25, 2025 −22.7% +0.4% −30.7% −32.0%
March 19, 2025 −6.0% +0.8% 0.0% −20.0%
December 20, 2024 +6.5% +1.8% +183.9% +174.2%
December 3, 2024 −41.4% +0.7% −57.1% +58.6%
September 20, 2024 +5.3% +0.1% −15.8% −15.8%
July 25, 2024 −11.4% +0.6% −40.0% −42.9%
March 13, 2024 −3.3% −0.4% −3.3% −20.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ocean Power Technologies, Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ocean Power Technologies, Inc.
$3M $4M $5M $6M $7M $8M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $3.9M Revenue (TTM), FY24 Q3: $4.9M Revenue (TTM), FY24 Q4: $5.5M Revenue (TTM), FY25 Q1: $5.6M Revenue (TTM), FY25 Q2: $7.1M Revenue (TTM), FY25 Q3: $6.1M Revenue (TTM), FY25 Q4: $5.9M Revenue (TTM), FY26 Q1: $5.7M Revenue (TTM), FY26 Q2: $3.7M Revenue (TTM), FY26 Q3: $3.4M Revenue (TTM), FY26 Q4: $3.7M Revenue (TTM), FY27 Q1: $4.3M $4.3M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $3.9M
FY24 Q3 $4.9M
FY24 Q4 $5.5M
FY25 Q1 $5.6M
FY25 Q2 $7.1M
FY25 Q3 $6.1M
FY25 Q4 $5.9M
FY26 Q1 $5.7M
FY26 Q2 $3.7M
FY26 Q3 $3.4M
FY26 Q4 $3.7M
FY27 Q1 $4.3M
Revenue growth, TTM YoY Ocean Power Technologies, Inc.
-50% 0% 50% 100% 150% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 71.7% Revenue growth, TTM YoY, FY24 Q3: 96.8% Revenue growth, TTM YoY, FY24 Q4: 102.3% Revenue growth, TTM YoY, FY25 Q1: 68.9% Revenue growth, TTM YoY, FY25 Q2: 82.8% Revenue growth, TTM YoY, FY25 Q3: 24.0% Revenue growth, TTM YoY, FY25 Q4: 6.1% Revenue growth, TTM YoY, FY26 Q1: 3.4% Revenue growth, TTM YoY, FY26 Q2: -47.1% Revenue growth, TTM YoY, FY26 Q3: -43.8% Revenue growth, TTM YoY, FY26 Q4: -36.2% Revenue growth, TTM YoY, FY27 Q1: -25.8% -25.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 71.7%
FY24 Q3 96.8%
FY24 Q4 102.3%
FY25 Q1 68.9%
FY25 Q2 82.8%
FY25 Q3 24.0%
FY25 Q4 6.1%
FY26 Q1 3.4%
FY26 Q2 -47.1%
FY26 Q3 -43.8%
FY26 Q4 -36.2%
FY27 Q1 -25.8%
Operating margin (TTM) Ocean Power Technologies, Inc.
-1500% -1000% -500% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -820.8% Operating margin (TTM), FY24 Q3: -657.9% Operating margin (TTM), FY24 Q4: -530.9% Operating margin (TTM), FY25 Q1: -475.8% Operating margin (TTM), FY25 Q2: -322.7% Operating margin (TTM), FY25 Q3: -343.8% Operating margin (TTM), FY25 Q4: -370.1% Operating margin (TTM), FY26 Q1: -423.1% Operating margin (TTM), FY26 Q2: -814.0% Operating margin (TTM), FY26 Q3: -982.3% Operating margin (TTM), FY26 Q4: -1026.6% Operating margin (TTM), FY27 Q1: -1088.8% -1088.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -820.8%
FY24 Q3 -657.9%
FY24 Q4 -530.9%
FY25 Q1 -475.8%
FY25 Q2 -322.7%
FY25 Q3 -343.8%
FY25 Q4 -370.1%
FY26 Q1 -423.1%
FY26 Q2 -814.0%
FY26 Q3 -982.3%
FY26 Q4 -1026.6%
FY27 Q1 -1088.8%
FCF margin (TTM) Ocean Power Technologies, Inc.
-800% -600% -400% -200% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -706.3% FCF margin (TTM), FY24 Q3: -646.6% FCF margin (TTM), FY24 Q4: -585.5% FCF margin (TTM), FY25 Q1: -553.2% FCF margin (TTM), FY25 Q2: -383.6% FCF margin (TTM), FY25 Q3: -349.8% FCF margin (TTM), FY25 Q4: -326.6% FCF margin (TTM), FY26 Q1: -343.1% FCF margin (TTM), FY26 Q2: -613.2% FCF margin (TTM), FY26 Q3: -752.2% FCF margin (TTM), FY26 Q4: -663.2% FCF margin (TTM), FY27 Q1: -659.7% -659.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -706.3%
FY24 Q3 -646.6%
FY24 Q4 -585.5%
FY25 Q1 -553.2%
FY25 Q2 -383.6%
FY25 Q3 -349.8%
FY25 Q4 -326.6%
FY26 Q1 -343.1%
FY26 Q2 -613.2%
FY26 Q3 -752.2%
FY26 Q4 -663.2%
FY27 Q1 -659.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ocean Power Technologies, Inc.: annual financial statements
Fiscal year 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Apr 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Jul 2026
Income
Revenue 7 6 4 1 4 1 1 1 1 2 1 2 3 6 6 4 4
Gross profit 0 0 0 −0 −1 0 −0 −0 −1 −0 −1 −0 0 3 2 −6 −9
EBITDA −21 −16 −16 −13 −13 −15 −12 −11 −13 −11 −13 −21 −29 −29 −21 −37 −45
Operating income −21 −17 −16 −13 −14 −15 −12 −12 −13 −11 −14 −22 −29 −29 −22 −38 −46
Net income −20 −15 −15 −11 −13 −13 −9 −10 −12 −10 −15 −19 −26 −27 −24 −49 −52
Diluted EPS −$99.50 −$0.37 −$0.35 −$0.23 −$37.50 −$36.25 −$11.15 −$3.31 −$2.38 −$0.36 −$0.49 −$0.35 −$0.47 −$0.47 −$0.19 −$0.25 —
Growth (year on year)
Revenue — −14.2% −37.0% −58.5% +173.9% −82.8% +19.6% −39.4% +17.4% +183.3% −29.1% +45.9% +55.3% +102.2% +6.1% −36.2% −25.8%
Margins
Gross margin 6.5% 1.0% 3.7% −0.8% −13.8% 5.2% −11.3% −49.3% −111.8% −6.2% −89.0% −5.7% 8.6% 51.1% 28.3% −158.4% −205.0%
EBITDA margin −312.7% −280.9% −437.4% −849.2% −324.5% <−999% <−999% <−999% <−999% −659.2% <−999% <−999% <−999% −523.3% −354.6% −999.1% <−999%
Operating margin −318.1% −288.5% −451.3% −877.3% −348.0% <−999% <−999% <−999% <−999% −668.5% <−999% <−999% <−999% −530.9% −370.0% <−999% <−999%
Net margin −305.4% −263.8% −406.0% −731.8% −319.4% <−999% <−999% <−999% <−999% −608.9% <−999% <−999% −963.6% −497.4% −417.4% <−999% <−999%
Free-cash-flow margin — — — — — — — — <−999% −626.1% −970.1% <−999% −818.3% −585.5% −326.5% −663.2% −659.7%
Cash flow
Cash from operations −19 −14 −11 −6 −17 −11 −10 −11 −12 −11 −12 −21 −22 −30 −19 −21 −25
Capital spending — — — — — — — — 0 0 0 0 1 3 1 4 3
Free cash flow — — — — — — — — −12 −11 −12 −21 −22 −32 −19 −25 −28
Stock-based pay 1 1 1 1 0 0 1 0 0 0 1 1 1 1 5 9 9
Free cash flow after stock pay — — — — — — — — −12 −11 −12 −23 −24 −34 −24 −34 −37
Balance sheet
Cash 4 9 6 14 17 7 8 11 17 10 83 8 7 3 7 9 7
Total debt 1 1 0 0 0 0 0 — 0 0 1 — 0 0 0 12 10
Net debt (negative = net cash) −4 −9 −6 −14 −17 −7 −8 −11 −17 −10 −82 −8 −7 −3 −7 3 3
Diluted shares — — — — — 362m — 3m 5m 29m 30m 54m 56m 59m 127m 194m —
Returned to shareholders
Buybacks 0 0 0 0 0 0 0 0 0 0 0 0 0 0 — — —
Total returned 0 0 0 0 0 0 0 0 0 0 0 0 0 0 — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · July 31, 2026
What it owns · $39m
Short-term assets $15mLonger-term assets $23m
What it owes, and who funded it · $39m
Short-term liabilities $30mLonger-term liabilities $1mShareholders' equity $8m
  • Short-term assets cover short-term liabilities $15m of assets due within a year against $30m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $15m short-term assets against $725,000 of longer-dated liabilities.
  • More cash than debt $7m of cash against $10m of debt.
  • Debt below 40% of shareholders' equity Debt is 117% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1% to 117% over five years.
  • A year's operating cash flow covers at least 20% of debt −$25m of operating cash flow against $10m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Ocean Power Technologies, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
107.7%
of revenue
Days sales outstanding
107 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in renewable electricity
Growth, margins and cash generation against peers
Last 12 months unless stated OPTT HTOO ELLO SUNE SPRU MNTK Median
Revenue, last 12 months $4m $16m $48m $62m $109m $189m $149m
Revenue growth, last 12 months −25.8% 838.5% 10.6% 10.3% 10.0% 4.3% 10.5%
Revenue growth, 3-year average 9.0% — — −1.8% 24.4% 2.1% 7.8%
Revenue growth, latest quarter 44.1% — — −37.5% −8.7% 19.7% 15.1%
Gross margin −205.0% 29.0% 16.2% 35.7% 48.3% 29.5% 29.5%
Operating margin <−999% −60.9% 43.1% −7.9% 22.4% 0.6% 12.0%
Operating margin, 3-year average −662.6% — 25.2% −14.3% −21.5% 7.2% 7.2%
Net margin <−999% −39.7% −5.0% −8.5% −6.8% 4.2% −0.4%
Cash from operations / revenue −596.8% −57.1% 5.7% −2.9% 1.9% 23.0% 14.3%
Free-cash-flow margin −659.7% −57.1% −222.7% −2.9% 1.8% −44.1% −33.2%
Free-cash-flow margin, 3-year average −518.7% — −134.5% −6.2% −26.4% −22.9% −22.9%
Stock pay / revenue 209.4% 10.8% 0.0% 0.1% 3.3% 1.0% 1.8%
Change in share count 71.0% 153.0% 3.0% 54.8% 6.5% 0.5% 6.5%

Median of all 10 companies we cover in renewable electricity. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 renewable electricity companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth -25.8% 10.6% 10 of 10
Change in growth rate Growth +10.4pp +4.3pp 4 of 10
Gross margin Profitability -205.0% 29.0% 7 of 7
Operating margin Profitability -1088.8% 13.4% 10 of 10
Net margin Profitability -1222.8% 4.2% 10 of 10
Free-cash-flow margin Cash generation -659.7% -22.3% 10 of 10
Stock pay as % of revenue Cash generation 209.4% 1.8% 9 of 9
Long-term debt as % of assets Balance sheet 25.6% 25.6% 5 of 9
Days sales outstanding Balance sheet 107 days 64 days 6 of 6

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to April 30, 2026
Products and services
Line of business Revenue YoY
Products $3.7M ▼ 36.2%
Product and Service $3.1M ▼ 42.7%
Services $2M ▲ 176.0%
WAMV $1.4M ▼ 69.5%
Lease Revenue $639,000 ▲ 41.1%
Buoy $365,000 ▼ 38.0%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
Region $3.7M 100.0% ▼ 36.2%
EMEA (part of Region) $1.8M 48.0% ▼ 5.0%
North and South America (part of Region) $1.2M 32.6% ▼ 68.4%
Asia and Australia (part of Region) $724,000 19.4% ▲ 513.6%

From Ocean Power Technologies, Inc.'s 10-K filed August 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$8.8M
Institutions reporting
81
Shares held vs prior quarter
▲ 33.3%
Positions opened / closed
21 / 8

Top buyers and sellers, Q2 2026: 38 institutions bought and 23 sold ; the biggest buyer was Polar Asset Management Partners Inc (+3.0M shares) and the biggest seller Peak6 LLC (−257K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $2.3M 8.9M 26.5% ▲ 4.0%
UBS Group AG $1.8M 6.9M 20.4% ▲ 72.5%
Blackrock, Inc. $872,226 3.3M 9.9% 0.0%
Polar Asset Management Partners Inc. $797,325 3.0M 9.0% New
Geode Capital Management, LLC $576,201 2.2M 6.5% ▲ 2.0%
Cambridge Investment Research Advisors, Inc. $366,000 1.4M 4.1% ▲ 369.4%
Vanguard Fiduciary Trust Co $363,499 1.4M 4.1% ▲ 34.2%
Spinnaker Investment Group, LLC $272,805 1.0M 3.1% 0.0%
State Street Corp $257,463 983K 2.9% ▲ 21.3%
Northern Trust Corp $136,018 519K 1.5% ▲ 48.6%
Royal Bank Of Canada $136,000 518K 1.5% ▼ 26.6%
Hamilton Capital Partners, LLC $131,051 500K 1.5% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ocean Power Technologies, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Stratmann Philipp President and CEO December 16, 2025 Buy 7,750 $0.33 $2,558
Powers Robert Patrick CFO December 15, 2025 Buy 14,723 $0.34 $5,006
Stratmann Philipp President and CEO December 15, 2025 Buy 6,298 $0.34 $2,141

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 20, 2026 estimated from the company's past filing pattern, not announced

  • August 24, 2026
  • July 23, 2026
  • March 13, 2026
  • December 16, 2025
  • September 16, 2025
  • July 25, 2025

Recent SEC filings

Data status

When each part of this page on Ocean Power Technologies, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ocean Power Technologies, Inc. in brief

What does Ocean Power Technologies, Inc. do?
Ocean Power Technologies, Inc. is a US-listed company in the renewable electricity industry. Its financial year ends in April.
What is Ocean Power Technologies, Inc.'s stock ticker?
Ocean Power Technologies, Inc. trades under the ticker OPTT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ocean Power Technologies, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ocean Power Technologies, Inc. reported revenue of $4.3M, 25.8% lower than a year earlier, according to its SEC filings.
What is Ocean Power Technologies, Inc.'s free cash flow?
Ocean Power Technologies, Inc.'s free-cash-flow margin is -659.7% of revenue over the trailing twelve months, ranking 10 of the 10 renewable electricity companies we cover.
Who are Ocean Power Technologies, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, UBS Group AG and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Ocean Power Technologies, Inc.'s market cap?
On April 30, 2026, Ocean Power Technologies, Inc.'s market capitalisation was about $2.1B and net debt of $3.3M. Market figures come from third-party market data and may be delayed.
How much debt does Ocean Power Technologies, Inc. have?
Ocean Power Technologies, Inc.'s debt-to-equity ratio is 117.2%, from its latest balance sheet (0.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Ocean Power Technologies, Inc.'s competitors?
In our Renewable Electricity peer group, the companies closest to Ocean Power Technologies, Inc. are Fusion Fuel Green PLC, Ellomay Capital Ltd., Sunation Energy, Inc., Spruce Power Holding Corp and Montauk Renewables, Inc. The side-by-side comparison below sets their revenue, margins and growth against Ocean Power Technologies, Inc.'s.
Are insiders buying or selling Ocean Power Technologies, Inc. stock?
Over the last 12 months, Ocean Power Technologies, Inc.'s directors and officers reported 3 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Ocean Power Technologies, Inc.'s next earnings date?
Around December 14, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ocean Power Technologies, Inc. announces its own schedule.