Ocean Power Technologies Q1 net loss widens on technology investments

Ocean Power Technologies

14/09/2026 21:31

Overview
US maritime tech firm's fiscal Q1 revenue rose 44% yr/yr to $1.7 mln
Company posted a net loss of $10.5 mln, with loss per share unchanged yr/yr
Backlog and sales pipeline grew, but gross loss widened on strategic investments

Outlook
Company did not provide specific financial guidance for the current or future periods

Result Drivers
DEFENSE CONTRACTS - Largest deployment and recurring revenue contract in co's history supported by PowerBuoy systems for DHS maritime operations
TECHNOLOGY INVESTMENTS - Gross loss widened due to investments in strategic customer programs and technology development, including contracts accepted to establish long-term relationships
PORTFOLIO EXPANSION - Acquisition of subsea technology assets from Columbia Power Technologies extended operational infrastructure capabilities

Company press release: ID:nGNX8V4ZC4

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
$1.70 mln
 
Q1 Loss Per Share
 
$1.28
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy."
Wall Street's median 12-month price target for Ocean Power Technologies Inc is $1.50, about 1,307.1% above its September 11 closing price of $0.11

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)