Ocean Power Technologies outlined its strategy to build persistent maritime intelligence infrastructure using PowerBuoy, WAM-V uncrewed surface vessels, and Merrows software.
Backlog rose 61% to $20.1 million at April 30, 2026; FY2026 revenue was $3.7 million, with delivery timing cited as a driver.
Operational milestones and integrations
Reported three PowerBuoys operating simultaneously, including in water depths above 1,000 meters, with live integration into Anduril’s Lattice platform.
Government programs and recurring revenue opportunity
Selected as one of six awardees on a $40 million NAVOCEANO IDIQ, creating a path to compete for task orders through July 2028.
Highlighted a $6.5 million DHS/USCG multi-PowerBuoy program, positioning the company for recurring service revenue tied to deployments.
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