Ocean Power Technologies Q2 revenue hit by US government shutdown

Ocean Power Technologies

15/12/2025 12:12

Overview

Maritime solutions provider's fiscal Q2 revenue fell due to U.S. government shutdown impacts

Company's backlog increased nearly 300% yr/yr, indicating strong future revenue potential

Company announced strategic partnerships and certifications to expand market reach

Outlook

Ocean Power Technologies plans integrated demonstrations with Mythos AI in Q1 2026

Company expects pipeline conversion into backlog following U.S. federal government reopening

OPT aims to expand market reach with new strategic partnerships

Result Drivers

BACKLOG GROWTH - Backlog increased nearly 300% to $15 mln, driven by strong demand and strategic partnerships

WAM-V SHIPMENTS - Shipped eight WAM-V vehicles, highlighting growing demand and expanded production capacity

STRATEGIC PARTNERSHIPS - New partnerships with Mythos AI and Gradient Marine to enhance AI capabilities and digital engineering

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$424,000
Q2 EPS
-$0.06
Q2 Operating Expenses
$8.70 mln


Analyst Coverage

The one available analyst rating on the shares is "strong buy"

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 254.2% above its December 12 closing price of $0.42

Press Release: ID:nGNXbJwDw0

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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.)