Ocean Power Technologies FY26 net loss widens to $48.92 million; revenue falls to $3.74 million
OPTT•FY26 results and operating performance
- Ocean Power Technologies posted revenue of USD 3.74 million, down about USD 2.1 million from the prior year.
- Net loss widened to USD 48.92 million; operating loss widened to USD 38.36 million.
- Cost of revenue climbed to USD 9.66 million on one-time contract losses, including USD 0.7 million of change orders at no margin.
- Operating expenses rose to USD 32.44 million on higher share-based compensation of USD 4.9 million and employee-related costs of USD 1.5 million.
- Backlog increased to USD 20.1 million as of April 30, 2026; cash and cash equivalents plus long-term restricted cash totaled USD 8.9 million.
