Ocean Power Technologies posted FY26 net loss of USD 43.68 million, widening from USD 21.51 million a year earlier.
Revenue fell to USD 4.08 million as cost of revenue climbed to USD 12.21 million, swinging gross margin to a loss of USD 8.14 million.
Backlog and pipeline grow, Coast Guard program secured
Backlog rose 58% to a record USD 19.8 million; sales pipeline increased to USD 142.3 million.
The company secured a roughly USD 6.5 million multi-PowerBuoy maritime domain awareness program supporting the U.S. Coast Guard, its largest deployment and recurring-revenue contract.
Philipp Stratmann said FY26 marked a shift to operational deployments; FY27 priorities include executing the Coast Guard program and converting backlog into revenue.
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