Ocean Power Technologies Australasia Pty Ltd (OPTA) is an Australian company, a subsidiary of Ocean Power Technologies Inc (OPT) of the United States, a renewable energy company, providing power generation devices, services and related equipment for the extraction of energy from ocean waves. In 2009 OPTA was part of Victorian Wave Partners formed to develop a 19 megawatt wave power project near Portland, Victoria connected to the grid. The project was to receive an AU$66.46 million grant from the Australia federal government.3 It is headquartered in Perth.1 Its shares trade on NYSE under the symbol OPTT.1Wikipedia text CC BY-SA 4.0
Ocean Power Technologies Australasia Pty Ltd (OPTA) is an Australian company, a subsidiary of Ocean Power Technologies Inc (OPT) of the United States, a renewable energy company, providing power generation devices, services and related equipment for the extraction of energy from ocean waves.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $700.0K in revenue.4 The company lost money this year.
Financial statements
Revenue891011124$700.0K in 2026+11% since 2019Gross profit89101311124-$5.9M in 2026+782% since 2019Operating income89101311124-$38.4M in 2026+189% since 2019Net income89101311124-$48.9M in 2026+299% since 2019
Revenue141516$300.0K in Q1 FY2026−29% since Q2 FY2025Gross profit141516-$2.8M in Q1 FY2026+105% since Q2 FY2025Operating income141516-$15.1M in Q1 FY2026+49% since Q2 FY2025Net income141516-$10.5M in Q1 FY2026−3% since Q2 FY2025
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
Period ending
2026-04-30
2025-04-30
Total revenue
$3.7M
$5.9M
Cost of revenue
$9.7M
$4.2M
Gross margin
-$5.9M
$1.7M
Operating expenses
$32.4M
$23.3M
Operating loss
-$38.4M
-$21.7M
Interest (expense)/income, net
-$2.8M
$47.0K
Other expense
-$878.0K
-$22.0K
Change in fair value of financial instrument
-$5.7M
-$3.0M
Loss on extinguishment of debt
-$1.2M
-$838.0K
Foreign exchange loss
-$13.0K
-$45.0K
Loss before income taxes
-$48.9M
-$25.5M
Income tax benefit
$1.0M
Net loss
-$48.9M
-$24.5M
Basic net loss per share
-$0.25
-$0.19
Diluted net loss per share
-$0.25
-$0.19
Weighted average shares used to compute basic net loss per share
194.3M shares
126.9M shares
Weighted average shares used to compute diluted net loss per share
194.3M shares
126.9M shares
No quarter-by-quarter statement was filed.
Total assets89101311124$39.9M in 2026+117% since 2019Total liabilities89101311124$27.4M in 2026+959% since 2019Shareholders’ equity9101311124$12.5M in 2026−21% since 2019Cash89101311124$8.7M in 2026−48% since 2019Long-term debt104$12.0M in 2026+2933% since 2021
Total assets141516$38.7M in Q1 FY2026−2% since Q2 FY2025Total liabilities141516$30.3M in Q1 FY2026+78% since Q2 FY2025Shareholders’ equity141516$8.5M in Q1 FY2026−62% since Q2 FY2025Cash141516$7.4M in Q1 FY2026−37% since Q2 FY2025
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
Period ending
2026-04-30
2025-04-30
2024-04-30
Cash and cash equivalents
$8.7M
$6.7M
Restricted cash, short-term
$154.0K
Accounts receivable, net
$587.0K
$1.2M
$796.0K
Contract assets
$590.0K
$1.1M
$18.0K
Inventory
$3.2M
$4.2M
Other current assets
$2.6M
$400.0K
Total current assets
$15.9M
$13.6M
Property and equipment, net
$10.3M
$3.4M
Intangibles, net
$3.4M
$3.5M
Right-of-use assets, net
$1.9M
$1.6M
Restricted cash, long-term
$154.0K
Goodwill
$8.5M
$8.5M
Total assets
$39.9M
$30.8M
Accounts payable
$4.4M
$568.0K
Earn out payable
$150.0K
$300.0K
Convertible notes payable (Note 13)
$10.4M
Accrued expenses
$4.2M
$1.3M
Contract liabilities, current
$6.0M
Right-of-use liabilities, current portion
$1.2M
$1.1M
Total current liabilities
$26.4M
$3.3M
Deferred tax liability
$203.0K
$203.0K
Right-of-use liabilities, less current portion
$837.0K
$649.0K
Total liabilities
$27.4M
$4.1M
Common stock, $0.001 par value; authorized 400,000,000 and 300,000,000 shares, respectively, issued 231,145,998 and 172,050,563 shares, respectively, and outstanding 228,460,085 and 171,263,086 shares, respectively
$231.0K
$172.0K
Treasury stock, at cost; 2,685,913 and 787,477 shares, respectively
-$1.8M
-$1.0M
Additional paid-in capital
$395.0M
$359.5M
Accumulated deficit
-$381.0M
-$332.0M
Total shareholders equity
$12.5M
$26.7M
$19.3M
Total liabilities and shareholders equity
$39.9M
$30.8M
Preferred stock, par value
$0.00
$0.00
Preferred stock, shares authorized
5.0M shares
5.0M shares
Preferred stock, shares issued
0 shares
0 shares
Preferred stock, shares outstanding
0 shares
0 shares
Common stock, par value
$0.00
$0.00
Common stock, shares authorized
400.0M shares
300.0M shares
Common stock, shares issued
231.1M shares
172.1M shares
Common stock, shares outstanding
228.5M shares
171.3M shares
Treasury stock, shares
2.7M shares
787.5K shares
Period ending
2026-04-30
2025-04-30
2024-04-30
Cash and cash equivalents
$8.7M
$6.7M
Restricted cash, short-term
$154.0K
Accounts receivable, net
$587.0K
$1.2M
$796.0K
Contract assets
$590.0K
$1.1M
$18.0K
Inventory
$3.2M
$4.2M
Other current assets
$2.6M
$400.0K
Total current assets
$15.9M
$13.6M
Property and equipment, net
$10.3M
$3.4M
Intangibles, net
$3.4M
$3.5M
Right-of-use assets, net
$1.9M
$1.6M
Restricted cash, long-term
$154.0K
Goodwill
$8.5M
$8.5M
Total assets
$39.9M
$30.8M
Accounts payable
$4.4M
$568.0K
Earn out payable
$150.0K
$300.0K
Convertible notes payable (Note 13)
$10.4M
Accrued expenses
$4.2M
$1.3M
Contract liabilities, current
$6.0M
Right-of-use liabilities, current portion
$1.2M
$1.1M
Total current liabilities
$26.4M
$3.3M
Deferred tax liability
$203.0K
$203.0K
Right-of-use liabilities, less current portion
$837.0K
$649.0K
Total liabilities
$27.4M
$4.1M
Common stock, $0.001 par value; authorized 400,000,000 and 300,000,000 shares, respectively, issued 231,145,998 and 172,050,563 shares, respectively, and outstanding 228,460,085 and 171,263,086 shares, respectively
$231.0K
$172.0K
Treasury stock, at cost; 2,685,913 and 787,477 shares, respectively
-$1.8M
-$1.0M
Additional paid-in capital
$395.0M
$359.5M
Accumulated deficit
-$381.0M
-$332.0M
Total shareholders equity
$12.5M
$26.7M
$19.3M
Total liabilities and shareholders equity
$39.9M
$30.8M
Preferred stock, par value
$0.00
$0.00
Preferred stock, shares authorized
5.0M shares
5.0M shares
Preferred stock, shares issued
0 shares
0 shares
Preferred stock, shares outstanding
0 shares
0 shares
Common stock, par value
$0.00
$0.00
Common stock, shares authorized
400.0M shares
300.0M shares
Common stock, shares issued
231.1M shares
172.1M shares
Common stock, shares outstanding
228.5M shares
171.3M shares
Treasury stock, shares
2.7M shares
787.5K shares
Cash from operations89101311124-$20.8M in 2026+71% since 2019Capital spending101311124$4.0M in 2026+15315% since 2021Free cash flow101311124-$24.8M in 2026+112% since 2021Share buybacks89101311$14.0K in 2024+1300% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
Period ending
2026-04-30
2025-04-30
Net loss
-$48.9M
-$24.5M
Foreign exchange loss
$45.0K
Depreciation of fixed assets
$895.0K
$771.0K
Amortization of intangible assets
$133.0K
$132.0K
Amortization of right-of-use assets
$942.0K
$853.0K
Amortization of debt issuance costs
$595.0K
Share-based compensation
$9.5M
$4.6M
Change in fair value of financial instrument
$5.7M
$3.0M
Loss on extinguishment of debt
$1.2M
$838.0K
Loss on disposal of property and equipment
$111.0K
Non-cash interest settled through share conversions
$1.5M
Impairment of fixed assets
$838.0K
Credit loss expense
$933.0K
$100.0K
Inventory net realizable value adjustment
$745.0K
Accounts receivable
-$328.0K
-$395.0K
Contract assets
$498.0K
-$1.1M
Inventory
-$4.2M
$130.0K
Other assets
-$2.3M
$1.3M
Accounts payable
$3.8M
-$2.8M
Accrued expenses
$3.0M
-$515.0K
Earn out payable
-$150.0K
-$200.0K
Right-of-use liabilities
-$1.0M
-$773.0K
Contract liabilities
$6.0M
-$302.0K
Net cash used in operating activities
-$20.8M
-$18.6M
Purchases of property and equipment
-$4.0M
-$505.0K
Net cash used in investing activities
-$4.0M
-$505.0K
Cash paid for tax withholding related to shares withheld
-$807.0K
-$649.0K
Payment of debt issuance costs
-$524.0K
Proceeds from convertible notes
$26.5M
$3.2M
Payment on convertible notes
-$6.0M
Proceeds from issuance of common stock - At The Market offering, net of issuance costs
$7.6M
$17.7M
Proceeds from issuance of common stock - Capital Raise, net of issuance costs
$2.5M
Net cash provided by financing activities
$26.8M
$22.7M
Net increase in cash, cash equivalents and restricted cash
$2.0M
$3.6M
Common stock issued related to bonus and earnout payments
$630.0K
Common stock issued related to conversion of convertible debt
$18.4M
$3.0M
Operating right of use asset obtained in exchange for operating lease liability
Ocean Power Technologies Australasia sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Ocean Power Technologies Australasia
Alumni Capital LPFiled SC 13G/A on Ocean Power Technologies Australasia, latest Nov 27, 2024 (2 filings since Sep 24, 2024)
Paragon Technologies, Inc.Filed SC 13D/A on Ocean Power Technologies Australasia, latest Apr 17, 2024 (8 filings since Jul 7, 2023)
Ocean Power Technologies AustralasiaPerth
Marine Advanced Robotics, Inc. Subsidiary · California, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Ocean Power Technologies Australasia reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our headquarters are currently located in Monroe Township, New Jersey, where we occupy approximately 56,000 square feet under a lease expiring on April 30, 2026. We use this facility for administration, research and development, as well as manufacturing, assembly and testing of our products.
Additionally, we have a property located in Richmond, California where we occupy approximately 11,500 square feet under a lease expiring on June 18, 2028. We have an additional property also located in Richmond, California where we occupy approximately 2,300 square feet under a lease which began on May 12, 2025 and expiring on May 31, 2027. We believe that our facilities are sufficient for our current needs and are in good condition in all material respects.
The rest of Item 2
The Company also has a lease for warehouse space located in Richmond, California. The lease commenced in June of 2025 and will continue for 24 months. The lease is classified as an operating lease and is included in right-of-use assets, right-of-use liabilities- current and right-of-use liabilities- long-term on the Company’s Consolidated Balance Sheets.
Aug 24, 2026Reported quarterly or annual results67
Jul 23, 2026Reported quarterly or annual results72
Mar 13, 2026Reported quarterly or annual results74
Dec 16, 2025Reported quarterly or annual results75
Sep 16, 2025Reported quarterly or annual results76
Jul 25, 2025Reported quarterly or annual results77
Mar 19, 2025Reported quarterly or annual results78
Dec 20, 2024Reported quarterly or annual results79
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
393 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 122 major events, 98 insider forms, 10 large holders, 140 other. The latest 20:
11 open-market trades by officers, directors and large owners since October 2021: 11 buys and 0 sales. Grants, option exercises and gifts are left out.
How Ocean Power Technologies Australasia is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Aug 19, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Ocean Power Technologies Australasia names in Item 1A of its 10-K filed Aug 19, 2026: 50 risks under these headings, as written.17
Risks Related to Our Financial Condition
We have a history of operating losses and may not achieve or maintain profitability and positive cash flow.
Loss of U.S. Government security clearances could harm our business
We may require additional capital to fund our operations, and if such capital is unavailable on acceptable terms, our business, financial condition and ability to continue executing our strategic plan could be materially adversely affected and we may not be able to continue to operate our business
Our business could be affected by macroeconomic risks.
Changes to U.S. tariff and import/export regulations may have a negative effect on us.
A significant portion of our current and anticipated business depends upon government customers and government-funded programs.
Delays or difficulties in converting backlog into revenue could adversely affect our results of operations.
There are doubts about our ability to continue as a going concern.
Any current or future indebtedness may limit our operations and our use of our cash flow, and any failure to comply with the covenants that apply to any indebtedness could adversely affect our liquidity and financial condition.
Any failure to meet our debt obligations could damage our business.
Adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions, could adversely affect our business, financial condition, or results of operations.
The other 39 risks
Currency transaction risk may adversely affect our business, financial condition and results of operations.
Risks Related to Growth of Our Business
If sufficient demand for our solutions and services or new products does not develop or takes longer to develop than we anticipate, our revenue generation will be limited, and it is unlikely that we will be able to achieve and, if achieved, then sustain profitability.
If we are unable to attract and retain management and other qualified personnel, we may not be able to achieve our business objectives.
If we are unable to effectively manage our growth, our business and operations could be adversely affected.
If we are unable to successfully negotiate and enter into service contracts with our customers on terms that are acceptable to us, our ability to diversify our revenue stream will be impacted.
Actions of activist shareholders could be disruptive and costly and the possibility that activist shareholders may gain representation on or control of our board of directors could adversely affect our results of operations, financial condition, or share price.
Failure by third parties to supply or manufacture components of our products or to deploy our systems timely or properly could adversely affect our business, financial condition, and results of operation.
Our targeted markets are competitive and highly complex. We compete against incumbent solutions already being utilized by our customers and potential customers. If we are unable to compete effectively, we may be unable to increase our revenue and achieve or maintain profitability.
Participation in international defense and security projects exposes us to heightened regulatory, political, and operational risks.
Our results of operations and financial conditions may be adversely affected by the financial soundness of our customers, distributors, and suppliers.
We market and plan to market our services and products in multiple international regions. If we are unable to manage our international operations effectively, our business, financial condition and results of operations could be adversely affected.
Failure of our information systems or those of third parties or breaches of data security could cause significant harm to our business.
Cyber-security breaches of our systems and information technology could adversely impact our ability to operate or meet contractual obligations.
Our ability to use net operating loss carryforwards to offset future taxable income for U.S. federal income tax purposes may be limited.
Risks Related to Product Development and Commercialization
We have only manufactured a limited number of PowerBuoys®, and to date, we have not produced these products in any significant quantity for commercial production. These products do not have a sufficient operating history to accurately predict how they will perform over their estimated useful life.
We face the possibility of a range of potential accident and safety risks and hazards, including hazards associated with extreme weather, wind and other environmental conditions, which are inherent in offshore operations.
Our relationships with our strategic partners may not be successful, and we may not be successful in establishing additional relationships, either of which could adversely affect our ability to commercialize our products and services.
We have limited manufacturing, deployment and internal software development experience. If we are unable to increase our software development and manufacturing capacity in a cost-effective manner, our business may be materially harmed.
Problems with the quality or performance of our products would adversely affect our business, financial condition and results of operations.
We must continually improve existing services and products, design and sell new products and improve reliability in order to compete effectively.
Risks Related to Intellectual Property
If we are unable to obtain or maintain intellectual property rights relating to our technology and products, the commercial value of our technology and products may be adversely affected, which could in turn adversely affect our business, financial condition and results of operations.
If we are unable to protect the confidentiality of our proprietary information and know-how, the value of our technology and products could be adversely affected, which could in turn adversely affect our business, financial condition and results of operations.
Foreign laws may not afford us sufficient protections for our intellectual property, and we may not be able to obtain patent protection outside of the U.S.
If we infringe or are alleged to have infringed upon intellectual property rights of third parties, our business, financial condition and results of operations could be adversely affected.
Our contracts with governmental entities could negatively affect our intellectual property rights, and our ability to commercialize our products could be impaired.
Risks Related to Regulatory and Compliance Matters
If we are unable to obtain all necessary regulatory permits and approvals, it is possible that we will not be able to implement our planned projects or business plan.
Our products, software, technical data and services may be subject to U.S. export control laws, including the EAR, ITAR and economic sanctions programs administered by the Office of Foreign Assets Control. Violations of these laws could result in significant civil or criminal penalties, loss of export privileges, contract terminations and reputational harm. Compliance obligations may increase as we expand internationally and pursue additional defense and security opportunities.
In the event we are unable to satisfy regulatory requirements relating to internal control over financial reporting, or if our internal controls are not effective, our business, reputation and financial results may suffer.
Environmental and other regulation of our business, including potential climate change regulation, could adversely impact us by increasing our production cost or restricting our ability to deliver products to our customers.
A portion of products we acquire from our suppliers are manufactured in foreign countries, making the price and availability of these products subject to international trade risks and other international conditions.
Our business involves the use of hazardous materials, which require compliance with environmental and occupational safety laws regulating the use of such materials. If we violate these laws, we could be subject to significant fines, liabilities or other adverse consequences.
If we are not able to comply with the applicable continued listing requirements or standards of the NYSE American, our common stock could be delisted from the NYSE American.
Risks Related to Litigation
Litigation is costly and time-consuming to defend, and if decided against us, could require us to pay substantial judgments or settlements. We may be the subject of future securities or other litigation, which could adversely affect our company, our business and our liquidity.
We may become the target of securities litigation, which is costly and time-consuming to defend.
Risks Related to Our Common Stock
If we issue additional shares of our equity securities in the future, our shareholders may experience substantial dilution in the value of their investment or their ownership interest.
Historically, our stock price has been volatile, and this is likely to continue; purchasers of our common stock could incur substantial losses as a result.
Provisions in our corporate charter documents and under Delaware law may delay or prevent attempts by our shareholders to change our management or our Board of Directors and hinder efforts to acquire a controlling interest in us.
If securities or industry analysts fail to cover us, or do not publish research or publish unfavorable or inaccurate research about our business, our stock price and trading volume could decline.
We have never paid cash dividends on our common stock, and we do not anticipate paying any cash dividends in the foreseeable future.
Legal proceedings
From time to time, the Company is involved in legal proceedings, claims, investigations, and regulatory matters arising in the ordinary course of business. While the outcome of such matters cannot be predicted with certainty, management does not believe that any currently pending matters, individually or in the aggregate, will have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows. The Company records liabilities for legal contingencies when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. If a loss contingency is reasonably possible but not probable, or if the amount of loss cannot be reasonably estimated, the nature of the contingency is disclosed when required by applicable accounting standards. Litigation and other legal matters are inherently uncertain, and adverse outcomes could occur that may have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows in a future period.
