Ocean Power Technologies Announces Financial Results for Second Quarter Fiscal 2025
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue: $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase.Net Loss: $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities: $4.8 million, compared to $7.5 million in the prior year period, representing a year-over-year decrease of 37%. Recent Business and Operational Highlights Strategic partnerships continue to expand our market presence: In Latin America, we announced a partnership that includes $3 million in purchase order com
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News
- Ocean Power Technologies to Participate in a Fireside Chat on Thursday, December 19, 2024GlobeNewswire
- Ocean Power Technologies Inc (OPTT) Q2 2025 Earnings Call Highlights: Record Revenue and ... [Yahoo! Finance]Yahoo! Finance
- Ocean Power Technologies Secures $3 Million in Purchase Order Commitments for WAM-V USV's in Latin AmericaGlobeNewswire
- Ocean Power Technologies Pre-Releases Preliminary Financial Results for Second Quarter Fiscal 2025GlobeNewswire
- Ocean Power Technologies to Release Fiscal 2025 Second Quarter Early Earnings on December 2, 2024GlobeNewswire
OPTT
Sec Filings
- 12/20/24 - Form 305B2
- 12/20/24 - Form 8-K
- 12/20/24 - Form 424B5
- OPTT's page on the SEC website