OPTT News & Events

Ocean Power announced it has secured a contract from a new Nordics based underwater research customer for a fully integrated WAM-V for immediate delivery. This contract expands the company's previously announced expansion into certain regions in the Nordics, working with end customers and governments. The vehicle will be assembled immediately and shipped to the customer.

Backlog as of January 31, 2026 was approximately $19.9 million, an increase of $12.4 million and 165% over the prior year period. Pipeline as of January 31, 2026 stands at $163.9 million, an increase of $74.7 million and 84% increase over the $89.2 million pipeline at October 31, 2025. Net Loss: Anticipated net loss of approximately $11.3 to $11.5 million, compared to $6.7 million in the prior year period. Cash Used in Operating Activities: Estimated to be less than $20.0 million, compared to $14.6 million in the prior-year period.