Ocean Power Technologies, Inc. (NYSE: OPTT) announced that Dr. Philipp Stratmann, President and Chief Executive Officer, will participate in a Water Tower Research Fireside Chat on Tuesday, August 25, 2026, at 11:00 am ET.

The event, hosted by Peter Gastreich, Managing Director of Energy Transition & Sustainable Investing at Water Tower Research, is open access for all investors.

Key Discussion Topics

The session will cover several strategic developments for the company:

• Operational shift: The transition to an operational provider in FY26 rather than remaining solely a technology developer.
• Backlog growth: A record backlog of $19.8 million, representing a 58% increase in 2026 and nearly five times FY26 revenue.
• Recurring revenue: Details on the largest deployment in company history for the Coast Guard program, including renewal prospects and the lease-like model layering revenue across a buoy’s life.
• Execution speed: The delivery of a WAM-V unmanned surface vessel five weeks from order, highlighting inventory and fleet readiness demands.
• Defense momentum: US government selection of the WAM-V, CMMC Level 2 compliance, and efforts to convert European engagement into contracts.
• Financial targets: The path toward a 35–55% gross margin range, funding plans for growth, and FY27 milestones demonstrating execution.

What the Numbers Show

The disclosed backlog of $19.8 million is nearly five times the company's FY26 revenue. This multiple suggests a significant accumulation of future work relative to current annual output, potentially indicating a shift toward higher recurring revenue streams through lease-like models rather than one-off technology sales.

Ocean Power Technologies Inc (NYSE: OPTT) has cured its NYSE American listing delinquency but disclosed a going concern qualification in its fiscal year 2026 audit report. The company filed its Form 10-K on August 19, 2026, resolving the procedural breach while triggering a mandatory disclosure under Section 610(b) of the NYSE American Company Guide.

The regulatory action originated from the company’s failure to file the annual report by the August 13, 2026 deadline. On August 14, 2026, NYSE Regulation issued a notice citing non-compliance with Section 1007 of the Company Guide. By submitting the Form 10-K five days later, Ocean Power Technologies avoided further escalation or potential delisting proceedings.

Going Concern Qualification

In a separate disclosure on August 21, 2026, the company confirmed that its Financial Statements included an explanatory paragraph from its Independent Registered Public Accounting Firm emphasizing a going concern qualification. This disclosure was mandated by exchange rules and does not reflect any change or amendment to the previously filed 10-K for the year ended April 30, 2026.

What the Numbers Show

The combination of a cured filing delinquency and a going concern qualification highlights distinct operational and governance challenges. While the company demonstrated administrative responsiveness by filing within days of the regulatory notice, the auditor’s emphasis on going concern suggests underlying financial stability risks that persist despite procedural compliance. The absence of specific financial metrics in the public notices limits quantitative analysis to these qualitative status updates.

About Ocean Power Technologies

Ocean Power Technologies provides intelligent maritime solutions for defense, oil and gas, science, and offshore wind markets. Its portfolio includes Merrows™ for maritime domain awareness, PowerBuoy® platforms for clean power and data communications, and WAM-V® unmanned surface vessels. The company is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California.