1. OPT's backlog has surged to $15 million, up 300% YoY. 2. Pipeline as of October 31, 2025 is $137.5 million, up 63%. 3. OPT shipped eight WAM-V vehicles, highlighting increasing demand. 4. Partnerships with Mythos AI and Gradient Marine enhance OPT’s market position. 5. Despite losses, management remains optimistic about future revenues.
FAQ
Why Bullish?
The significant increase in backlog and pipeline suggests strong future revenue potential. Similar growth phases in tech stocks often lead to price appreciation.
How important is it?
The substantial backlog and strategic partnerships significantly impact investor confidence, likely leading to price movements.
Why Long Term?
Partnerships and growing market demand indicate sustained operational growth, usually impacting stock price positively over the long term.
Ocean Power Technologies, Inc. Reports Strong Second Quarter Fiscal 2026 Results
MONROE TOWNSHIP, N.J., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT) has released its financial results for the fiscal second quarter (“2Q26”) ending October 31, 2025. The report highlights significant growth in both backlog and pipeline, indicating strong operational momentum.
Financial Highlights of 2Q26
- Backlog: Increased to approximately $15.0 million, a rise of $11.2 million or nearly 300% compared to the same period last year.
- Pipeline: Now stands at $137.5 million, reflecting a growth of $53.1 million, or a 63% increase from $84.4 million at the end of October 2024.
- Shipments: Eight WAM-V® autonomous surface vehicles were shipped during the quarter, demonstrating the Company's expanding production capabilities.
These figures underscore OPTT’s ability to scale manufacturing and meet the increasing demand for its products.
Strategic Partnerships Enhance Growth Potential
In November 2025, OPTT entered a strategic partnership with Mythos AI to integrate advanced AI-driven autonomy into its WAM-V® ASVs and PowerBuoy® platforms. This collaboration aims to:
- Create a comprehensive ecosystem combining hardware, power, and AI software, enhancing OPT's positioning in defense and commercial markets.
- Expand OPTT’s market reach in the autonomous maritime systems sector, facilitating a wide array of mission profiles.
- Promote the deployment of advanced capabilities such as real-time edge processing and multi-vehicle coordination, with demonstrations planned for Q1 2026.
Additionally, OPTT secured certification from AUVSI as a Trusted Uncrewed Maritime Systems Operator Training Provider. This certification allows OPTT to deliver the first industry-standardized USV operator training, broadening its revenue-generating capabilities and shaping the future workforce for autonomous maritime operations.
Recent Financial Performance and Management Commentary
For the three and six months ending October 31, 2025, OPTT reported revenues of $0.4 million and $1.6 million, respectively, reflecting a decline compared to $2.4 million and $3.7 million in the prior fiscal year. This downturn is primarily attributed to the U.S. federal government shutdown, which delayed several deliverables and development activities.
OPT's President and CEO, Dr. Philipp Stratmann, commented, “Despite the federal government being shut down for nearly half of our fiscal quarter, we continued to expand our pipeline and strengthen our position across our key markets.... We believe that the heightened focus on national security has accelerated customer urgency.”
Key Financial Metrics
- Net Loss: $10.8 million for the three months, compared to $3.9 million in the previous year.
- Operating Expenses: Increased to $8.7 million from $4.7 million, primarily due to higher non-cash stock-based compensation and increased headcount.
- Backlog Growth: Backlog rose significantly, from $3.8 million in October 2024 to $15.0 million in October 2025, highlighting strong future revenue expectations.
The increase in backlog is crucial for supporting OPTT's strategic growth plan, providing a positive outlook for upcoming fiscal quarters.