Ocean Power Technologies, Inc. (OPTT) 10-Year Financial Performance & Capital Metrics

OPTT • • Industrial / General

IndustrialsElectrical EquipmentEnergy Storage SystemsGrid-Scale Energy Storage

AboutOcean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software, controls, sensors, integration services, and marine installation services. In addition, it offers distributed offshore power and communications for remote surface and subsea applications in markets, such as defense and security, offshore oil and gas, science and research, and offshore wind. Further, the company provides Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Additionally, it offers offshore data collection, integration, analytics, and real time communication for various applications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Monroe Township, New Jersey.Show more

Revenue $6M +6.1%
EBITDA -$20M +29.3%
Net Income -$22M +21.7%
EPS (Diluted) -0.17 +63.8%
Gross Margin 28.32% -44.6%
EBITDA Margin -340.04% +33.3%
Operating Margin -370.01% +30.3%
Net Margin -367.02% +26.2%
ROE -93.53% -7.7%
ROIC -80.32% -5.3%
Debt/Equity 0.07 -49.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 28.4%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.62%

5Y28.36%

3Y49.36%

TTM-47.08%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-45.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM42.46%

ROCE

10Y Avg-100.39%

5Y Avg-56.91%

3Y Avg-75.67%

Latest-88.79%

Peer Comparison

Grid-Scale Energy Storage

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
GWHESS Tech, Inc.	34.92M	1.78	-0.24	-16.51%	-10.45%	-130.4%	0.06
ZOOZZOOZ Strategy Ltd.	80.3M	0.50	-0.46	36.26%	-19.85%	-138.17%	0.59
OPTTOcean Power Technologies, Inc.	83.83M	0.43	-2.53	6.08%	-8.37%	-140.63%	0.07
EOSEEos Energy Enterprises, Inc.	5.47B	16.88	-3.71	-4.71%	-17.61%

Profit & Loss

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Sales/Revenue+	704.82K	843K	511K	632K	1.68M	1.21M	1.76M	2.73M	5.53M	5.86M
Revenue Growth %	-0.83%	0.2%	-0.39%	0.24%	1.66%	-0.28%	0.46%	0.55%	1.02%	0.06%
Cost of Goods Sold+	667.87K	938K	763K	1.3M	1.79M	2.28M	1.86M	2.5M	2.7M	4.2M
COGS % of Revenue	0.95%	1.11%	1.49%	2.06%	1.06%	1.89%	1.06%	0.91%	0.49%	0.72%
Gross Profit+	36.95K	-95K	-252K	-671K	-105K	-1.07M	-101K	236K	2.83M	1.66M
Gross Margin %	0.05%	-0.11%	-0.49%	-1.06%	-0.06%	-0.89%	-0.06%	0.09%	0.51%	0.28%
Gross Profit Growth %	1.07%	-3.57%	-1.65%	-1.66%	0.84%	-9.22%	0.91%	3.34%	10.97%	-0.41%
Operating Expenses+	13.8M	11.59M	11.31M	12.6M	11.26M	12.52M	21.51M	28.34M	32.16M	23.35M
OpEx % of Revenue	19.58%	13.75%	22.13%	19.94%	6.69%	10.38%	12.23%	10.37%	5.82%	3.98%
Selling, General & Admin	6.75M	6.56M	6.99M	7.62M	6.92M	7.77M	11.91M	28.34M	32.23M	0
SG&A % of Revenue	9.57%	7.79%	13.68%	12.05%	4.11%	6.44%	6.77%	10.37%	5.83%	-
Research & Development	7.05M	5.03M	4.32M	4.98M	4.34M	4.75M	9.61M	0	0	0
R&D % of Revenue	10%	5.97%	8.45%	7.89%	2.58%	3.94%	5.46%	-	-	-
Other Operating Expenses	0	0	4K	0	0	-83K	60K	0	-72K	23.35M
Operating Income+	-14.86M	-11.69M	-11.56M	-13.27M	-11.37M	-13.59M	-21.61M	-29.22M	-29.33M	-21.69M
Operating Margin %	-21.08%	-13.86%	-22.62%	-21%	-6.76%	-11.27%	-12.29%	-10.69%	-5.31%	-3.7%
Operating Income Growth %	-0.04%	0.21%	0.01%	-0.15%	0.14%	-0.2%	-0.59%	-0.35%	-0%	0.26%
EBITDA+	-14.75M	-11.55M	-11.44M	-13.09M	-11.01M	-13.22M	-21.1M	-28.58M	-28.17M	-19.93M
EBITDA Margin %	-20.92%	-13.7%	-22.38%	-20.71%	-6.55%	-10.96%	-11.99%	-10.46%	-5.1%	-3.4%
EBITDA Growth %	-0.11%	0.22%	0.01%	-0.14%	0.16%	-0.2%	-0.6%	-0.35%	0.01%	0.29%
D&A (Non-Cash Add-back)	111.71K	140K	122K	180K	355K	372K	515K	637K	1.16M	1.76M
EBIT	-13.76M	-11.69M	-11.56M	-13.27M	-11.37M	-13.59M	-21.61M	-28.1M	-29.4M	-22.55M
Net Interest Income+	8K	28K	83K	35K	124K	124K	124K	902K	800K	47K
Interest Income	8K	28K	83K	35K	124K	124K	124K	902K	800K	47K
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-568.36K	1.5M	284K	175K	118K	-1.17M	856K	2.61M	594K	-859K
Pretax Income+	-14.76M	-10.18M	-11.28M	-13.1M	-11.25M	-14.76M	-20.7M	-26.6M	-28.74M	-22.55M
Pretax Margin %	-20.94%	-12.08%	-22.07%	-20.72%	-6.69%	-12.24%	-11.77%	-9.74%	-5.2%	-3.85%
Income Tax+	-1.67M	-698K	-1.12M	-850K	-895K	0	-1.82M	-278K	-1.25M	-1.03M
Effective Tax Rate %	0.89%	0.93%	0.9%	0.94%	0.92%	1.07%	0.91%	0.99%	0.96%	0.95%
Net Income+	-13.13M	-9.49M	-10.16M	-12.25M	-10.35M	-15.85M	-18.87M	-26.33M	-27.48M	-21.51M
Net Margin %	-18.63%	-11.25%	-19.88%	-19.38%	-6.15%	-13.14%	-10.73%	-9.64%	-4.97%	-3.67%
Net Income Growth %	-0%	0.28%	-0.07%	-0.21%	0.15%	-0.53%	-0.19%	-0.39%	-0.04%	0.22%
Net Income (Continuing)	-13.08M	-9.49M	-10.16M	-12.25M	-10.35M	-14.76M	-18.87M	-26.33M	-27.48M	-21.51M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-145.06	-44.54	-13.24	-9.52	-1.44	-0.53	-0.35	-0.47	-0.47	-0.17
EPS Growth %	0.03%	0.69%	0.7%	0.28%	0.85%	0.63%	0.34%	-0.34%	0%	0.64%
EPS (Basic)	-145.06	-44.54	-13.24	-9.52	-1.44	-0.53	-0.35	-0.47	-0.47	-0.17
Diluted Shares Outstanding	90.51K	212.96K	767.33K	1.29M	7.21M	30.02M	54.01M	56M	59.03M	126.91M
Basic Shares Outstanding	90.51K	212.96K	767.33K	1.29M	7.21M	30.02M	54.01M	56M	59.03M	126.91M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Total Current Assets+	9.76M	9.75M	13.26M	17.62M	11.65M	84.44M	59.3M	37.67M	10.54M	13.62M
Cash & Short-Term Investments	6.8M	8.45M	11.52M	16.66M	10M	83.03M	57.27M	34.67M	3.15M	6.71M
Cash Only	6.73M	8.42M	11.5M	16.66M	10M	83.03M	7.88M	6.88M	3.15M	6.71M
Short-Term Investments	75K	25K	25K	0	0	0	49.38M	27.79M	0	0
Accounts Receivable	2.54M	344K	592K	78K	358K	540K	868K	897K	814K	2.28M
Days Sales Outstanding	1.31K	148.94	422.86	45.05	77.69	163.43	180.11	119.84	53.78	141.93
Inventory	299.54K	334K	572K	344K	0	384K	442K	1.04M	4.83M	4.22M
Days Inventory Outstanding	163.7	129.97	273.63	96.36	-	61.5	86.74	152.67	653.32	366.82
Other Current Assets	2.92M	956K	1.14M	532K	707K	405K	385K	130K	0	0
Total Non-Current Assets+	592.5K	327K	866K	747K	1.89M	1.94M	14.09M	15.7M	18.16M	17.18M
Property, Plant & Equipment	273.05K	170K	712K	592K	1.66M	1.44M	1.2M	3.03M	5.85M	5M
Fixed Asset Turnover	2.58x	4.96x	0.72x	1.07x	1.01x	0.84x	1.47x	0.90x	0.94x	1.17x
Goodwill	0	0	0	0	0	0	8.54M	8.54M	8.54M	8.54M
Intangible Assets	0	0	0	0	0	274K	4.14M	3.98M	3.62M	3.49M
Long-Term Investments	0	154K	154K	155K	221K	222K	-49.33M	155K	0	154K
Other Non-Current Assets	319.45K	3K	0	0	0	222K	219K	155K	154K	0
Total Assets+	10.35M	10.07M	14.12M	18.37M	13.54M	86.38M	73.39M	53.37M	28.7M	30.79M
Asset Turnover	0.07x	0.08x	0.04x	0.03x	0.12x	0.01x	0.02x	0.05x	0.19x	0.19x
Asset Growth %	-0.45%	-0.03%	0.4%	0.3%	-0.26%	5.38%	-0.15%	-0.27%	-0.46%	0.07%
Total Current Liabilities+	6.17M	4.6M	3.74M	2.44M	1.9M	4.69M	2.98M	7.91M	7.36M	3.29M
Accounts Payable	372.7K	586K	290K	312K	220K	687K	905K	952K	3.37M	568K
Days Payables Outstanding	203.69	228.03	138.73	87.4	44.94	110.03	177.59	139.21	455.2	49.35
Short-Term Debt	81.54K	35K	23K	0	0	495K	0	0	6K	0
Deferred Revenue (Current)	39.15K	1000K	18K	188K	100K	0	129K	1000K	302K	0
Other Current Liabilities	4.53M	1.77M	2.46M	687K	693K	1.98M	1.3M	3.05M	1.27M	1.06M
Current Ratio	1.58x	2.12x	3.54x	7.21x	6.13x	17.99x	19.91x	4.76x	1.43x	4.14x
Quick Ratio	1.53x	2.04x	3.39x	7.07x	6.13x	17.91x	19.77x	4.63x	0.78x	2.86x
Cash Conversion Cycle	1.27K	50.88	557.76	54.01	-	114.91	89.26	133.29	251.9	459.4
Total Non-Current Liabilities+	654.57K	23K	142K	147K	1.14M	1.22M	1.58M	1.51M	2M	852K
Long-Term Debt	0	23K	0	0	0	396K	0	0	0	0
Capital Lease Obligations	54.57K	23K	0	0	1.08M	819K	538K	1.31M	1.8M	649K
Deferred Tax Liabilities	-600K	0	0	0	-1.14M	0	203K	203K	203K	203K
Other Non-Current Liabilities	0	-23K	142K	147K	0	0	0	0	0	0
Total Liabilities	6.82M	4.63M	3.88M	2.59M	3.04M	5.91M	4.56M	9.42M	9.36M	4.14M
Total Debt+	136.11K	58K	23K	0	1.41M	2.06M	857K	1.84M	2.57M	1.8M
Net Debt	-6.59M	-8.36M	-11.48M	-16.66M	-8.6M	-80.97M	-7.03M	-5.04M	-579K	-4.92M
Debt / Equity	0.04x	0.01x	0.00x	-	0.13x	0.03x	0.01x	0.04x	0.13x	0.07x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	3.53M	5.45M	10.24M	15.78M	10.49M	80.47M	68.83M	43.95M	19.34M	26.65M
Equity Growth %	-0.77%	0.54%	0.88%	0.54%	-0.33%	6.67%	-0.14%	-0.36%	-0.56%	0.38%
Book Value per Share	38.98	25.58	13.34	12.26	1.46	2.68	1.27	0.78	0.33	0.21
Total Shareholders' Equity	3.53M	5.45M	10.24M	15.78M	10.49M	80.47M	68.83M	43.95M	19.34M	26.65M
Common Stock	2.35K	6K	18K	5K	13K	52K	56K	56K	61K	172K
Retained Earnings	-177.88M	-187.37M	-197.54M	-209.78M	-220.14M	-234.9M	-253.77M	-280.1M	-307.58M	-329.09M
Treasury Stock	-137.77K	-263K	-300K	-301K	-302K	-338K	-341K	-355K	-369K	-1.02M
Accumulated OCI	-122.36K	-160K	-160K	-171K	-183K	-171K	-46K	-45K	-45K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Cash from Operations+	-10.93M	-10.04M	-10.7M	-12.14M	-10.58M	-11.67M	-21.3M	-21.71M	-29.76M	-18.63M
Operating CF Margin %	-15.51%	-11.91%	-20.93%	-19.21%	-6.29%	-9.68%	-12.11%	-7.95%	-5.39%	-3.18%
Operating CF Growth %	0.36%	0.08%	-0.07%	-0.14%	0.13%	-0.1%	-0.82%	-0.02%	-0.37%	0.37%
Net Income	-13.08M	-9.49M	-10.16M	-12.25M	-10.35M	-14.76M	-18.87M	-26.33M	-27.48M	-21.51M
Depreciation & Amortization	111.71K	140K	122K	180K	355K	372K	515K	637K	1.16M	1.76M
Stock-Based Compensation	336.34K	1.23M	329K	295K	340K	781K	1.17M	1.46M	1.16M	4.6M
Deferred Taxes	150.56K	16K	0	0	0	0	-377K	817K	0	0
Other Non-Cash Items	596.6K	-1.49M	-192K	-140K	6K	-13K	-674K	407K	-154K	994K
Working Capital Changes	958.12K	-449K	-798K	-229K	-928K	1.95M	-3M	1.3M	-4.44M	-4.48M
Change in Receivables	103.47K	-48K	-123K	108K	-42K	-245K	-133K	-262K	83K	-1.47M
Change in Inventory	793.76K	-575K	-402K	65K	-771K	1.92M	-292K	-602K	-3.79M	230K
Change in Payables	21.75K	213K	-296K	23K	-92K	441K	217K	47K	2.41M	-2.8M
Cash from Investing+	114.87K	-176K	-658K	-29K	-65K	74K	-54.03M	20.46M	25.5M	-505K
Capital Expenditures	-24.14K	-37K	-658K	-54K	-65K	-26K	-145K	-1.02M	-2.58M	-505K
CapEx % of Revenue	0.03%	0.04%	1.29%	0.09%	0.04%	0.02%	0.08%	0.37%	0.47%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	139.02K	-189K	0	25K	-65K	100K	-53.89M	-371K	0	0
Cash from Financing+	220.67K	11.95M	14.58M	17.18M	4.45M	84.17M	87K	-14K	469K	22.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	289.19K	0	0	20K	-16K	2.76M	90K	-14K	-14K	-3.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-10.95M	-10.07M	-11.35M	-12.19M	-10.64M	-11.7M	-21.44M	-22.73M	-32.35M	-19.14M
FCF Margin %	-15.54%	-11.95%	-22.22%	-19.29%	-6.33%	-9.7%	-12.19%	-8.32%	-5.85%	-3.27%
FCF Growth %	0.36%	0.08%	-0.13%	-0.07%	0.13%	-0.1%	-0.83%	-0.06%	-0.42%	0.41%
FCF per Share	-121.03	-47.31	-14.80	-9.48	-1.48	-0.39	-0.40	-0.41	-0.55	-0.15
FCF Conversion (FCF/Net Income)	0.83x	1.06x	1.05x	0.99x	1.02x	0.74x	1.13x	0.82x	1.08x	0.87x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-139.75%	-211.38%	-129.53%	-94.16%	-78.82%	-34.84%	-25.28%	-46.68%	-86.84%	-93.53%
Return on Invested Capital (ROIC)	-	-	-	-	-1682.87%	-1461.51%	-52.89%	-43.51%	-76.28%	-80.32%
Gross Margin	5.24%	-11.27%	-49.32%	-106.17%	-6.24%	-88.97%	-5.74%	8.64%	51.15%	28.32%
Net Margin	-1862.74%	-1125.27%	-1987.67%	-1937.66%	-615.46%	-1313.85%	-1073%	-963.62%	-497.43%	-367.02%
Debt / Equity	0.04x	0.01x	0.00x	-	0.13x	0.03x	0.01x	0.04x	0.13x	0.07x
FCF Conversion	0.83x	1.06x	1.05x	0.99x	1.02x	0.74x	1.13x	0.82x	1.08x	0.87x
Revenue Growth	-82.83%	19.61%	-39.38%	23.68%	166.14%	-28.3%	45.85%	55.32%	102.23%	6.08%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	-	-	-	-	-	2.73M	5.53M	5.86M
Product Growth	-	-	-	-	-	-	-	-	102.23%	6.08%
Service	-	-	-	-	-	-	-	877K	482K	718K
Service Growth	-	-	-	-	-	-	-	-	-45.04%	48.96%
Operating	-	-	-	-	-	-	1.63M	-	-	-
Operating Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Region	-	-	-	-	-	-	-	2.73M	5.53M	5.86M
Region Growth	-	-	-	-	-	-	-	-	102.23%	6.08%
North and South America	-	-	-	-	-	-	-	-	-	3.85M
North and South America Growth	-	-	-	-	-	-	-	-	-	-
EMEA	-	-	-	-	-	-	-	-	-	1.89M
EMEA Growth	-	-	-	-	-	-	-	-	-	-
Asia and Australia	-	-	-	-	-	-	-	253K	-	118K
Asia and Australia Growth	-	-	-	-	-	-	-	-	-	-
North And South America	-	-	-	-	-	-	-	2.48M	5.28M	-
North And South America Growth	-	-	-	-	-	-	-	-	112.91%	-
Europe	-	-	-	-	-	-	-	-	247K	-
Europe Growth	-	-	-	-	-	-	-	-	-	-
North America	704.82K	843K	511K	632K	1.68M	1.03M	-	-	-	-
North America Growth	-	19.61%	-39.38%	23.68%	166.14%	-39.00%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Ocean Power Technologies, Inc. (OPTT) reported $3.7M in revenue for fiscal year 2025. This represents a 35% decrease from $5.7M in 2012.

Ocean Power Technologies, Inc. (OPTT) grew revenue by 6.1% over the past year. This is steady growth.

Ocean Power Technologies, Inc. (OPTT) reported a net loss of $31.4M for fiscal year 2025.

Dividend & Returns

Ocean Power Technologies, Inc. (OPTT) has a return on equity (ROE) of -93.5%. Negative ROE indicates the company is unprofitable.

Ocean Power Technologies, Inc. (OPTT) had negative free cash flow of $23.0M in fiscal year 2025, likely due to heavy capital investments.

US Stock Screener

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Ocean Power Technologies, Inc. (OPTT) 10-Year Financial Performance & Capital Metrics

OPTT • • Industrial / General

IndustrialsElectrical EquipmentEnergy Storage SystemsGrid-Scale Energy Storage

Revenue $6M +6.1%
EBITDA -$20M +29.3%
Net Income -$22M +21.7%
EPS (Diluted) -0.17 +63.8%
Gross Margin 28.32% -44.6%
EBITDA Margin -340.04% +33.3%
Operating Margin -370.01% +30.3%
Net Margin -367.02% +26.2%
ROE -93.53% -7.7%
ROIC -80.32% -5.3%
Debt/Equity 0.07 -49.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 28.4%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.62%

5Y28.36%

3Y49.36%

TTM-47.08%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-45.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM42.46%

ROCE

10Y Avg-100.39%

5Y Avg-56.91%

3Y Avg-75.67%

Latest-88.79%

Peer Comparison

Grid-Scale Energy Storage

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
GWHESS Tech, Inc.	34.92M	1.78	-0.24	-16.51%	-10.45%	-130.4%	0.06
ZOOZZOOZ Strategy Ltd.	80.3M	0.50	-0.46	36.26%	-19.85%	-138.17%	0.59
OPTTOcean Power Technologies, Inc.	83.83M	0.43	-2.53	6.08%	-8.37%	-140.63%	0.07
EOSEEos Energy Enterprises, Inc.	5.47B	16.88	-3.71	-4.71%	-17.61%

Profit & Loss

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Sales/Revenue+	704.82K	843K	511K	632K	1.68M	1.21M	1.76M	2.73M	5.53M	5.86M
Revenue Growth %	-0.83%	0.2%	-0.39%	0.24%	1.66%	-0.28%	0.46%	0.55%	1.02%	0.06%
Cost of Goods Sold+	667.87K	938K	763K	1.3M	1.79M	2.28M	1.86M	2.5M	2.7M	4.2M
COGS % of Revenue	0.95%	1.11%	1.49%	2.06%	1.06%	1.89%	1.06%	0.91%	0.49%	0.72%
Gross Profit+	36.95K	-95K	-252K	-671K	-105K	-1.07M	-101K	236K	2.83M	1.66M
Gross Margin %	0.05%	-0.11%	-0.49%	-1.06%	-0.06%	-0.89%	-0.06%	0.09%	0.51%	0.28%
Gross Profit Growth %	1.07%	-3.57%	-1.65%	-1.66%	0.84%	-9.22%	0.91%	3.34%	10.97%	-0.41%
Operating Expenses+	13.8M	11.59M	11.31M	12.6M	11.26M	12.52M	21.51M	28.34M	32.16M	23.35M
OpEx % of Revenue	19.58%	13.75%	22.13%	19.94%	6.69%	10.38%	12.23%	10.37%	5.82%	3.98%
Selling, General & Admin	6.75M	6.56M	6.99M	7.62M	6.92M	7.77M	11.91M	28.34M	32.23M	0
SG&A % of Revenue	9.57%	7.79%	13.68%	12.05%	4.11%	6.44%	6.77%	10.37%	5.83%	-
Research & Development	7.05M	5.03M	4.32M	4.98M	4.34M	4.75M	9.61M	0	0	0
R&D % of Revenue	10%	5.97%	8.45%	7.89%	2.58%	3.94%	5.46%	-	-	-
Other Operating Expenses	0	0	4K	0	0	-83K	60K	0	-72K	23.35M
Operating Income+	-14.86M	-11.69M	-11.56M	-13.27M	-11.37M	-13.59M	-21.61M	-29.22M	-29.33M	-21.69M
Operating Margin %	-21.08%	-13.86%	-22.62%	-21%	-6.76%	-11.27%	-12.29%	-10.69%	-5.31%	-3.7%
Operating Income Growth %	-0.04%	0.21%	0.01%	-0.15%	0.14%	-0.2%	-0.59%	-0.35%	-0%	0.26%
EBITDA+	-14.75M	-11.55M	-11.44M	-13.09M	-11.01M	-13.22M	-21.1M	-28.58M	-28.17M	-19.93M
EBITDA Margin %	-20.92%	-13.7%	-22.38%	-20.71%	-6.55%	-10.96%	-11.99%	-10.46%	-5.1%	-3.4%
EBITDA Growth %	-0.11%	0.22%	0.01%	-0.14%	0.16%	-0.2%	-0.6%	-0.35%	0.01%	0.29%
D&A (Non-Cash Add-back)	111.71K	140K	122K	180K	355K	372K	515K	637K	1.16M	1.76M
EBIT	-13.76M	-11.69M	-11.56M	-13.27M	-11.37M	-13.59M	-21.61M	-28.1M	-29.4M	-22.55M
Net Interest Income+	8K	28K	83K	35K	124K	124K	124K	902K	800K	47K
Interest Income	8K	28K	83K	35K	124K	124K	124K	902K	800K	47K
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-568.36K	1.5M	284K	175K	118K	-1.17M	856K	2.61M	594K	-859K
Pretax Income+	-14.76M	-10.18M	-11.28M	-13.1M	-11.25M	-14.76M	-20.7M	-26.6M	-28.74M	-22.55M
Pretax Margin %	-20.94%	-12.08%	-22.07%	-20.72%	-6.69%	-12.24%	-11.77%	-9.74%	-5.2%	-3.85%
Income Tax+	-1.67M	-698K	-1.12M	-850K	-895K	0	-1.82M	-278K	-1.25M	-1.03M
Effective Tax Rate %	0.89%	0.93%	0.9%	0.94%	0.92%	1.07%	0.91%	0.99%	0.96%	0.95%
Net Income+	-13.13M	-9.49M	-10.16M	-12.25M	-10.35M	-15.85M	-18.87M	-26.33M	-27.48M	-21.51M
Net Margin %	-18.63%	-11.25%	-19.88%	-19.38%	-6.15%	-13.14%	-10.73%	-9.64%	-4.97%	-3.67%
Net Income Growth %	-0%	0.28%	-0.07%	-0.21%	0.15%	-0.53%	-0.19%	-0.39%	-0.04%	0.22%
Net Income (Continuing)	-13.08M	-9.49M	-10.16M	-12.25M	-10.35M	-14.76M	-18.87M	-26.33M	-27.48M	-21.51M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-145.06	-44.54	-13.24	-9.52	-1.44	-0.53	-0.35	-0.47	-0.47	-0.17
EPS Growth %	0.03%	0.69%	0.7%	0.28%	0.85%	0.63%	0.34%	-0.34%	0%	0.64%
EPS (Basic)	-145.06	-44.54	-13.24	-9.52	-1.44	-0.53	-0.35	-0.47	-0.47	-0.17
Diluted Shares Outstanding	90.51K	212.96K	767.33K	1.29M	7.21M	30.02M	54.01M	56M	59.03M	126.91M
Basic Shares Outstanding	90.51K	212.96K	767.33K	1.29M	7.21M	30.02M	54.01M	56M	59.03M	126.91M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Total Current Assets+	9.76M	9.75M	13.26M	17.62M	11.65M	84.44M	59.3M	37.67M	10.54M	13.62M
Cash & Short-Term Investments	6.8M	8.45M	11.52M	16.66M	10M	83.03M	57.27M	34.67M	3.15M	6.71M
Cash Only	6.73M	8.42M	11.5M	16.66M	10M	83.03M	7.88M	6.88M	3.15M	6.71M
Short-Term Investments	75K	25K	25K	0	0	0	49.38M	27.79M	0	0
Accounts Receivable	2.54M	344K	592K	78K	358K	540K	868K	897K	814K	2.28M
Days Sales Outstanding	1.31K	148.94	422.86	45.05	77.69	163.43	180.11	119.84	53.78	141.93
Inventory	299.54K	334K	572K	344K	0	384K	442K	1.04M	4.83M	4.22M
Days Inventory Outstanding	163.7	129.97	273.63	96.36	-	61.5	86.74	152.67	653.32	366.82
Other Current Assets	2.92M	956K	1.14M	532K	707K	405K	385K	130K	0	0
Total Non-Current Assets+	592.5K	327K	866K	747K	1.89M	1.94M	14.09M	15.7M	18.16M	17.18M
Property, Plant & Equipment	273.05K	170K	712K	592K	1.66M	1.44M	1.2M	3.03M	5.85M	5M
Fixed Asset Turnover	2.58x	4.96x	0.72x	1.07x	1.01x	0.84x	1.47x	0.90x	0.94x	1.17x
Goodwill	0	0	0	0	0	0	8.54M	8.54M	8.54M	8.54M
Intangible Assets	0	0	0	0	0	274K	4.14M	3.98M	3.62M	3.49M
Long-Term Investments	0	154K	154K	155K	221K	222K	-49.33M	155K	0	154K
Other Non-Current Assets	319.45K	3K	0	0	0	222K	219K	155K	154K	0
Total Assets+	10.35M	10.07M	14.12M	18.37M	13.54M	86.38M	73.39M	53.37M	28.7M	30.79M
Asset Turnover	0.07x	0.08x	0.04x	0.03x	0.12x	0.01x	0.02x	0.05x	0.19x	0.19x
Asset Growth %	-0.45%	-0.03%	0.4%	0.3%	-0.26%	5.38%	-0.15%	-0.27%	-0.46%	0.07%
Total Current Liabilities+	6.17M	4.6M	3.74M	2.44M	1.9M	4.69M	2.98M	7.91M	7.36M	3.29M
Accounts Payable	372.7K	586K	290K	312K	220K	687K	905K	952K	3.37M	568K
Days Payables Outstanding	203.69	228.03	138.73	87.4	44.94	110.03	177.59	139.21	455.2	49.35
Short-Term Debt	81.54K	35K	23K	0	0	495K	0	0	6K	0
Deferred Revenue (Current)	39.15K	1000K	18K	188K	100K	0	129K	1000K	302K	0
Other Current Liabilities	4.53M	1.77M	2.46M	687K	693K	1.98M	1.3M	3.05M	1.27M	1.06M
Current Ratio	1.58x	2.12x	3.54x	7.21x	6.13x	17.99x	19.91x	4.76x	1.43x	4.14x
Quick Ratio	1.53x	2.04x	3.39x	7.07x	6.13x	17.91x	19.77x	4.63x	0.78x	2.86x
Cash Conversion Cycle	1.27K	50.88	557.76	54.01	-	114.91	89.26	133.29	251.9	459.4
Total Non-Current Liabilities+	654.57K	23K	142K	147K	1.14M	1.22M	1.58M	1.51M	2M	852K
Long-Term Debt	0	23K	0	0	0	396K	0	0	0	0
Capital Lease Obligations	54.57K	23K	0	0	1.08M	819K	538K	1.31M	1.8M	649K
Deferred Tax Liabilities	-600K	0	0	0	-1.14M	0	203K	203K	203K	203K
Other Non-Current Liabilities	0	-23K	142K	147K	0	0	0	0	0	0
Total Liabilities	6.82M	4.63M	3.88M	2.59M	3.04M	5.91M	4.56M	9.42M	9.36M	4.14M
Total Debt+	136.11K	58K	23K	0	1.41M	2.06M	857K	1.84M	2.57M	1.8M
Net Debt	-6.59M	-8.36M	-11.48M	-16.66M	-8.6M	-80.97M	-7.03M	-5.04M	-579K	-4.92M
Debt / Equity	0.04x	0.01x	0.00x	-	0.13x	0.03x	0.01x	0.04x	0.13x	0.07x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	3.53M	5.45M	10.24M	15.78M	10.49M	80.47M	68.83M	43.95M	19.34M	26.65M
Equity Growth %	-0.77%	0.54%	0.88%	0.54%	-0.33%	6.67%	-0.14%	-0.36%	-0.56%	0.38%
Book Value per Share	38.98	25.58	13.34	12.26	1.46	2.68	1.27	0.78	0.33	0.21
Total Shareholders' Equity	3.53M	5.45M	10.24M	15.78M	10.49M	80.47M	68.83M	43.95M	19.34M	26.65M
Common Stock	2.35K	6K	18K	5K	13K	52K	56K	56K	61K	172K
Retained Earnings	-177.88M	-187.37M	-197.54M	-209.78M	-220.14M	-234.9M	-253.77M	-280.1M	-307.58M	-329.09M
Treasury Stock	-137.77K	-263K	-300K	-301K	-302K	-338K	-341K	-355K	-369K	-1.02M
Accumulated OCI	-122.36K	-160K	-160K	-171K	-183K	-171K	-46K	-45K	-45K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Cash from Operations+	-10.93M	-10.04M	-10.7M	-12.14M	-10.58M	-11.67M	-21.3M	-21.71M	-29.76M	-18.63M
Operating CF Margin %	-15.51%	-11.91%	-20.93%	-19.21%	-6.29%	-9.68%	-12.11%	-7.95%	-5.39%	-3.18%
Operating CF Growth %	0.36%	0.08%	-0.07%	-0.14%	0.13%	-0.1%	-0.82%	-0.02%	-0.37%	0.37%
Net Income	-13.08M	-9.49M	-10.16M	-12.25M	-10.35M	-14.76M	-18.87M	-26.33M	-27.48M	-21.51M
Depreciation & Amortization	111.71K	140K	122K	180K	355K	372K	515K	637K	1.16M	1.76M
Stock-Based Compensation	336.34K	1.23M	329K	295K	340K	781K	1.17M	1.46M	1.16M	4.6M
Deferred Taxes	150.56K	16K	0	0	0	0	-377K	817K	0	0
Other Non-Cash Items	596.6K	-1.49M	-192K	-140K	6K	-13K	-674K	407K	-154K	994K
Working Capital Changes	958.12K	-449K	-798K	-229K	-928K	1.95M	-3M	1.3M	-4.44M	-4.48M
Change in Receivables	103.47K	-48K	-123K	108K	-42K	-245K	-133K	-262K	83K	-1.47M
Change in Inventory	793.76K	-575K	-402K	65K	-771K	1.92M	-292K	-602K	-3.79M	230K
Change in Payables	21.75K	213K	-296K	23K	-92K	441K	217K	47K	2.41M	-2.8M
Cash from Investing+	114.87K	-176K	-658K	-29K	-65K	74K	-54.03M	20.46M	25.5M	-505K
Capital Expenditures	-24.14K	-37K	-658K	-54K	-65K	-26K	-145K	-1.02M	-2.58M	-505K
CapEx % of Revenue	0.03%	0.04%	1.29%	0.09%	0.04%	0.02%	0.08%	0.37%	0.47%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	139.02K	-189K	0	25K	-65K	100K	-53.89M	-371K	0	0
Cash from Financing+	220.67K	11.95M	14.58M	17.18M	4.45M	84.17M	87K	-14K	469K	22.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	289.19K	0	0	20K	-16K	2.76M	90K	-14K	-14K	-3.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-10.95M	-10.07M	-11.35M	-12.19M	-10.64M	-11.7M	-21.44M	-22.73M	-32.35M	-19.14M
FCF Margin %	-15.54%	-11.95%	-22.22%	-19.29%	-6.33%	-9.7%	-12.19%	-8.32%	-5.85%	-3.27%
FCF Growth %	0.36%	0.08%	-0.13%	-0.07%	0.13%	-0.1%	-0.83%	-0.06%	-0.42%	0.41%
FCF per Share	-121.03	-47.31	-14.80	-9.48	-1.48	-0.39	-0.40	-0.41	-0.55	-0.15
FCF Conversion (FCF/Net Income)	0.83x	1.06x	1.05x	0.99x	1.02x	0.74x	1.13x	0.82x	1.08x	0.87x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-139.75%	-211.38%	-129.53%	-94.16%	-78.82%	-34.84%	-25.28%	-46.68%	-86.84%	-93.53%
Return on Invested Capital (ROIC)	-	-	-	-	-1682.87%	-1461.51%	-52.89%	-43.51%	-76.28%	-80.32%
Gross Margin	5.24%	-11.27%	-49.32%	-106.17%	-6.24%	-88.97%	-5.74%	8.64%	51.15%	28.32%
Net Margin	-1862.74%	-1125.27%	-1987.67%	-1937.66%	-615.46%	-1313.85%	-1073%	-963.62%	-497.43%	-367.02%
Debt / Equity	0.04x	0.01x	0.00x	-	0.13x	0.03x	0.01x	0.04x	0.13x	0.07x
FCF Conversion	0.83x	1.06x	1.05x	0.99x	1.02x	0.74x	1.13x	0.82x	1.08x	0.87x
Revenue Growth	-82.83%	19.61%	-39.38%	23.68%	166.14%	-28.3%	45.85%	55.32%	102.23%	6.08%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	-	-	-	-	-	2.73M	5.53M	5.86M
Product Growth	-	-	-	-	-	-	-	-	102.23%	6.08%
Service	-	-	-	-	-	-	-	877K	482K	718K
Service Growth	-	-	-	-	-	-	-	-	-45.04%	48.96%
Operating	-	-	-	-	-	-	1.63M	-	-	-
Operating Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Region	-	-	-	-	-	-	-	2.73M	5.53M	5.86M
Region Growth	-	-	-	-	-	-	-	-	102.23%	6.08%
North and South America	-	-	-	-	-	-	-	-	-	3.85M
North and South America Growth	-	-	-	-	-	-	-	-	-	-
EMEA	-	-	-	-	-	-	-	-	-	1.89M
EMEA Growth	-	-	-	-	-	-	-	-	-	-
Asia and Australia	-	-	-	-	-	-	-	253K	-	118K
Asia and Australia Growth	-	-	-	-	-	-	-	-	-	-
North And South America	-	-	-	-	-	-	-	2.48M	5.28M	-
North And South America Growth	-	-	-	-	-	-	-	-	112.91%	-
Europe	-	-	-	-	-	-	-	-	247K	-
Europe Growth	-	-	-	-	-	-	-	-	-	-
North America	704.82K	843K	511K	632K	1.68M	1.03M	-	-	-	-
North America Growth	-	19.61%	-39.38%	23.68%	166.14%	-39.00%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Ocean Power Technologies, Inc. (OPTT) reported $3.7M in revenue for fiscal year 2025. This represents a 35% decrease from $5.7M in 2012.

Ocean Power Technologies, Inc. (OPTT) grew revenue by 6.1% over the past year. This is steady growth.

Ocean Power Technologies, Inc. (OPTT) reported a net loss of $31.4M for fiscal year 2025.

Dividend & Returns

Ocean Power Technologies, Inc. (OPTT) has a return on equity (ROE) of -93.5%. Negative ROE indicates the company is unprofitable.

Ocean Power Technologies, Inc. (OPTT) had negative free cash flow of $23.0M in fiscal year 2025, likely due to heavy capital investments.