Welcome to our dedicated page for Ocean Power Tech SEC filings (Ticker: OPTT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Ocean Power Technologies filings document material events for an operating company commercializing marine power, data, autonomous surface vessel and maritime domain awareness systems. Recent 8-K reports cover securities purchase agreements for convertible notes, product and program updates involving PowerBuoy® and WAM-V® systems, preliminary operating results, Regulation FD communications, and press releases tied to government and commercial maritime deployments.
The filing record also includes governance and capital-structure disclosures, including equity incentive plan amendments, annual meeting voting results, common stock issuance mechanics, note conversion terms, covenants, interest provisions and beneficial ownership caps. These documents formalize OPTT disclosures on financing, stockholder votes, executive-compensation plans, operational updates, customer programs, and public-company reporting obligations.
Ocean Power Technologies, Inc. is expanding its global deployment footprint for its marine power and autonomy solutions across U.S. government, international, and research customers. In the United States, the company has increased its PowerBuoy® deployments from a single research-focused system to five concurrent deployments.
These U.S. deployments include three systems supporting U.S. Department of Homeland Security activities, one system supporting Department of War research for the U.S. Navy, and one system for a U.S.-based research institution. Internationally, the company has three WAM-V® autonomous surface vehicles and one PowerBuoy deployed in the United Arab Emirates, plus additional WAM-V deployments in Taiwan and other regions.
Ocean Power Technologies, Inc. filed a report highlighting technology progress and a key government deployment. The company has demonstrated autonomous docking, charging, and redeployment of its WAM-V maritime drone and is advancing integration of this capability with its PowerBuoy platform to create offshore charging points.
The report also notes the active deployment of three PowerBuoy systems supporting U.S. Department of Homeland Security maritime surveillance operations, with all units streaming real-time offshore data, including one operating in water depths exceeding 1,000 meters. These systems form a distributed offshore network, integrated with Anduril’s Lattice command and control platform and equipped with AI-driven Merrows software to support persistent maritime domain awareness missions.
Ocean Power Technologies, Inc. entered into a securities purchase agreement with institutional investors to issue and sell $10,000,000 in senior convertible notes. These Notes convert into common stock at $0.40 per share, subject to a 4.99% Beneficial Ownership Cap per holder.
The Notes bear 4.5% annual interest, rising to 13% if an event of default occurs, and mature 18 months after issuance at a 13% premium to face value. They amortize with quarterly cash payments starting on the closing date and rank senior to unsecured debt, subject to certain exceptions.
The Notes and the shares issuable upon conversion are being offered via a prospectus supplement as a takedown from the Company’s effective Form S-3 shelf registration statement.
Ocean Power Technologies, Inc. is offering $10,000,000 aggregate principal amount of Series C-1 senior convertible notes due 2027. The Notes are convertible at a fixed conversion price of $0.40 per share and mature on October 1, 2027.
The Notes bear interest at 4.5% per annum (rising to 13% per annum during an event of default), amortize quarterly with optional deferral by holders, and include a make-whole feature and various redemption rights on default, bankruptcy or change of control. Conversion and issuance of shares are subject to a 4.99% beneficial ownership limitation (adjustable to 9.99% with 61 days prior notice). Estimated net proceeds are approximately $9.8 million, which the company expects to use to repay specified outstanding convertible notes and for general corporate purposes.
Ocean Power Technologies, Inc. filed a current report describing the shipment of its first PowerBuoy® system under a previously announced $6 contract with the U.S. Department of Homeland Security. The system will support U.S. Coast Guard maritime domain awareness and marks a transition from development to operational deployment.
The shipped PowerBuoy, together with additional units under the contract, is planned for deployment off the coast of California to provide persistent, autonomous offshore surveillance. Integration with Anduril’s systems is advancing in parallel, and the network is expected to begin supporting DHS coastal and offshore monitoring once final site preparations and readiness procedures are complete.
Ocean Power Technologies, Inc. reported weaker results for the quarter and nine months ended January 31, 2026, and disclosed that recurring losses and cash burn raise “substantial doubt” about its ability to continue as a going concern.
Quarterly revenue fell to $513,000 from $825,000, while net loss widened to $11.4 million from $6.7 million. For the nine-month period, revenue dropped to $2.1 million from $4.5 million, and net loss nearly doubled to $29.6 million. Gross margin turned negative and operating expenses, including a sharp increase in share‑based compensation, pushed operating loss higher.
Cash, cash equivalents and restricted cash totaled $7.2 million at January 31, 2026, after using $19.9 million in operating cash over nine months. The company raised liquidity through at‑the‑market equity sales and issuing $16.5 million of convertible notes, which created a $2.2 million derivative liability and significantly increased common shares outstanding.
Ocean Power Technologies released preliminary results for its fiscal Q3 ended January 31, 2026 and highlighted strong order momentum in maritime defense. Backlog reached about $19.9 million, up $12.4 million or 165% from the prior-year period, while its sales pipeline grew to $163.9 million, an 84% increase from $89.2 million at October 31, 2025.
The company secured a multi-buoy contract of roughly $6.5 million from the U.S. Department of Homeland Security to support a U.S. Coast Guard mission near San Diego, with deliveries of four MERROWS-equipped PowerBuoy systems beginning in fiscal Q4 2026. Despite this commercial progress, Q3 revenue is estimated at only $0.4–$0.6 million, down from $0.8 million a year earlier, and the anticipated net loss widened to about $11.3–$11.5 million versus $6.7 million in the prior-year quarter.
Cash used in operating activities for the quarter is expected to be under $20.0 million, compared with $14.6 million a year ago, reflecting continued investment and operating losses. Management also reported progress on global deployments, including shipping a WAM-V autonomous surface vehicle to Greece and advancing an autonomous docking and charging solution toward a targeted calendar 2026 early-access commercial launch, supporting its strategy to build a scalable maritime autonomy infrastructure.
Ocean Power Technologies, Inc. reported an insider share transaction by its President and CEO, Philipp Stratmann. On the reported date, he disposed of 901,096 shares of common stock in a tax-withholding disposition, meaning shares were withheld to cover tax obligations triggered by the vesting of restricted stock units.
The price used for this withholding was an aggregate estimate of $0.434 per share, as disclosed. After this transaction, Stratmann's directly owned common stock holdings totaled 1,932,356 shares, indicating he continues to hold a substantial equity position in the company.
Ocean Power Technologies, Inc. reported an insider equity transaction involving its Senior VP and General Counsel, Tracy D. Pagliara. On the reported date, 322,897 shares of common stock were withheld at an estimated $0.434 per share to cover tax obligations triggered by the vesting of restricted stock units. After this tax-withholding disposition, Pagliara directly owned 858,353 shares of common stock. The filing clarifies that this was a share withholding to satisfy taxes, not an open-market trade.
Ocean Power Technologies, Inc. Senior VP and CFO Robert Patrick Powers reported a disposition of common stock related to tax withholding. On March 5, 2026, 437,550 shares of common stock were withheld at an aggregate estimated price of $0.434 per share to satisfy tax obligations upon the vesting of restricted stock units. After this tax-withholding disposition, he directly owned 1,037,129 shares of Ocean Power Technologies common stock.