$OPTT
Ocean Power Technologies, Inc. Stock $optt

$optt Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000149315222025628 Filed on September 12, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2021 Q3
Revenue	$714.0K	$756.0K	$272.0K
YoY Change	162.5%	25.58%	60.0%
Cost Of Revenue	$520.0K	$540.0K	$423.0K
YoY Change	22.93%	-47.62%	28.18%
Gross Profit	$194.0K	$216.0K	-$151.0K
YoY Change	-228.48%	-150.35%	-11.18%
Gross Profit Margin	27.17%	28.57%	-55.51%
Selling, General & Admin			$2.909M
YoY Change			46.18%
% of Gross Profit
Research & Development	$2.300M		$1.971M
YoY Change	16.69%		57.68%
% of Gross Profit	1185.57%
Depreciation & Amortization	$43.00K	$108.0K	$46.00K
YoY Change	-6.52%	176.92%	15.0%
% of Gross Profit	22.16%	50.0%
Operating Expenses	$6.318M	$6.061M	$4.880M
YoY Change	29.47%	68.64%	50.62%
Operating Profit	-$5.993M	-$5.845M	-$5.031M
YoY Change	19.12%	45.29%	47.54%
Interest Expense	$141.0K	$67.00K	$20.00K
YoY Change	605.0%	-17.28%	0.0%
% of Operating Profit
Other Income/Expense, Net		$0.00
YoY Change		-100.0%
Pretax Income	-$5.852M	-$5.935M	-$4.120M
YoY Change	42.04%	14.13%	21.53%
Income Tax		-$782.0K	-$1.041M
% Of Pretax Income
Net Earnings	-$5.900M	-$5.153M	-$3.079M
YoY Change	91.62%	-0.9%	-9.17%
Net Earnings / Revenue	-826.33%	-681.61%	-1131.99%
Basic Earnings Per Share	-$0.10		-$0.06
Diluted Earnings Per Share	-$104.7K	-$102.8K	-$58.69K
COMMON SHARES
Basic Shares Outstanding	55.89B shares		52.46B shares
Diluted Shares Outstanding	55.89M shares

Balance Sheet

Concept	2022 Q3	2022 Q2	2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$51.90M	$57.27M	$77.72M
YoY Change	-33.22%	-31.02%	600.18%
Cash & Equivalents	$9.176M	$7.885M	$77.72M
Short-Term Investments	$42.72M	$49.38M
Other Short-Term Assets	$480.0K	$725.0K	$891.0K
YoY Change	-46.13%	-16.76%	-25.75%
Inventory	$588.0K	$442.0K
Prepaid Expenses
Receivables	$119.0K	$868.0K	$750.0K
Other Receivables	$91.00K	$0.00	$0.00
Total Short-Term Assets	$54.01M	$59.30M	$79.36M
YoY Change	-31.94%	-29.77%	529.85%
LONG-TERM ASSETS
Property, Plant & Equipment	$458.0K	$1.197M	$1.340M
YoY Change	-65.82%	-16.99%	-16.25%
Goodwill	$8.537M	$8.537M
YoY Change
Intangibles	$4.096M	$4.136M
YoY Change
Long-Term Investments
YoY Change
Other Assets	$219.0K	$219.0K	$222.0K
YoY Change	-1.35%	-1.35%	11.0%
Total Long-Term Assets	$13.99M	$14.09M	$1.830M
YoY Change	664.32%	626.99%	1.67%
TOTAL ASSETS
Total Short-Term Assets	$54.01M	$59.30M	$79.36M
Total Long-Term Assets	$13.99M	$14.09M	$1.830M
Total Assets	$68.00M	$73.39M	$81.19M
YoY Change	-16.25%	-15.03%	463.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.058M	$905.0K	$454.0K
YoY Change	133.04%	31.73%	127.0%
Accrued Expenses	$1.090M	$877.0K	$2.138M
YoY Change	-49.02%	-63.09%	6.9%
Deferred Revenue	$101.0K	$129.0K
YoY Change
Short-Term Debt	$0.00	$319.0K	$0.00
YoY Change		-8.07%	-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.217M	$2.978M	$2.652M
YoY Change	21.3%	-36.56%	-1.78%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00
YoY Change
Other Long-Term Liabilities	$1.266M	$1.381M	$774.0K
YoY Change	63.57%	68.62%	-29.64%
Total Long-Term Liabilities	$1.266M	$0.00	$0.00
YoY Change		-100.0%	-100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.217M	$2.978M	$2.652M
Total Long-Term Liabilities	$1.266M	$0.00	$0.00
Total Liabilities	$4.686M	$4.562M	$3.426M
YoY Change	36.78%	-22.8%	-20.33%
SHAREHOLDERS EQUITY
Retained Earnings	-$259.6M	-$253.8M
YoY Change
Common Stock	$56.00K	$56.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$341.0K	$341.0K
YoY Change
Treasury Stock Shares	23.35K shares	23.35K shares
Shareholders Equity	$63.31M	$68.83M	$77.77M
YoY Change
Total Liabilities & Shareholders Equity	$68.00M	$73.39M	$81.19M
YoY Change	-16.25%	-15.03%	463.83%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2021 Q3
OPERATING ACTIVITIES
Net Income	-$5.900M	-$5.153M	-$3.079M
YoY Change	91.62%	-0.9%	-9.17%
Depreciation, Depletion And Amortization	$43.00K	$108.0K	$46.00K
YoY Change	-6.52%	176.92%	15.0%
Cash From Operating Activities	-$5.100M	-$5.509M	-$5.287M
YoY Change	-3.54%	75.22%	92.96%
INVESTING ACTIVITIES
Capital Expenditures	$56.00K	$174.0K	-$7.000K
YoY Change	-900.0%	-3000.0%
Acquisitions
YoY Change
Other Investing Activities	$6.439M	-$50.34M
YoY Change		-50442.0%
Cash From Investing Activities	$6.383M	-$50.17M	-$7.000K
YoY Change	-91285.71%	-53470.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities		-3.000K
YoY Change		-100.05%
NET CHANGE
Cash From Operating Activities	-$5.100M	-5.509M	-5.287M
Cash From Investing Activities	$6.383M	-50.17M	-7.000K
Cash From Financing Activities		-3.000K
Net Change In Cash	$1.291M	-55.68M	$0.00
YoY Change		-1878.91%
FREE CASH FLOW
Cash From Operating Activities	-$5.100M	-$5.509M	-$5.287M
Capital Expenditures	$56.00K	$174.0K	-$7.000K
Free Cash Flow	-$5.156M	-$5.683M	-$5.280M
YoY Change	-2.35%	81.1%	92.7%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2021Q3	OPTT	Amortization Of Premium On Marketable Securities AmortizationOfPremiumOnMarketableSecurities		usd
CY2022Q3	dei	Entity Central Index Key EntityCentralIndexKey	0001378140
CY2022Q3	dei	Amendment Flag AmendmentFlag	false
CY2022Q3	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--04-30
CY2022Q3	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2022Q3	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt		usd
CY2022Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax		usd
CY2022Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt		usd
CY2021Q3	OPTT	Change In Contingent Liability Consideration ChangeInContingentLiabilityConsideration		usd
CY2021Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories		usd
CY2021Q3	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability		usd
CY2022Q3	OPTT	Increase Decrease In Litigation Payable IncreaseDecreaseInLitigationPayable		usd
CY2021Q3	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities		usd
CY2021Q3	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities		usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities		usd
CY2021Q3	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities		usd
CY2022Q3	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents		usd
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross		shares
CY2022Q3	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2022Q3	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised		shares
CY2022Q3	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2022Q3	dei	Document Type DocumentType	10-Q
CY2022Q3	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q3	dei	Document Period End Date DocumentPeriodEndDate	2022-07-31
CY2022Q3	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q3	dei	Entity File Number EntityFileNumber	001-33417
CY2022Q3	dei	Entity Registrant Name EntityRegistrantName	OCEAN POWER TECHNOLOGIES, INC.
CY2022Q3	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2022Q3	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	22-2535818
CY2022Q3	dei	Entity Address Address Line1 EntityAddressAddressLine1	28 ENGELHARD DRIVE
CY2022Q3	dei	Entity Address Address Line2 EntityAddressAddressLine2	SUITE B
CY2022Q3	dei	Entity Address City Or Town EntityAddressCityOrTown	MONROE TOWNSHIP
CY2022Q3	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
CY2022Q3	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	08831
CY2022Q3	dei	City Area Code CityAreaCode	(609)
CY2022Q3	dei	Local Phone Number LocalPhoneNumber	730-0400
CY2022Q3	dei	Security12b Title Security12bTitle	Common Stock $0.001 par value
CY2022Q3	dei	Trading Symbol TradingSymbol	OPTT
CY2022Q3	dei	Security Exchange Name SecurityExchangeName	NYSE
CY2022Q3	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q3	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q3	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022Q3	dei	Entity Small Business EntitySmallBusiness	true
CY2022Q3	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2022Q3	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	55922880	shares
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	9176000	usd
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7885000	usd
CY2022Q3	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	42724000	usd
CY2022Q2	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	49384000	usd
CY2022Q3	us-gaap	Restricted Cash Current RestrictedCashCurrent	258000	usd
CY2022Q2	us-gaap	Restricted Cash Current RestrictedCashCurrent	258000	usd
CY2022Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	119000	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	482000	usd
CY2022Q3	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	666000	usd
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CY2022Q3	us-gaap	Inventory Net InventoryNet	588000	usd
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CY2022Q3	us-gaap	Other Assets Current OtherAssetsCurrent	480000	usd
CY2022Q2	us-gaap	Other Assets Current OtherAssetsCurrent	467000	usd
CY2022Q3	us-gaap	Assets Current AssetsCurrent	54011000	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	59304000	usd
CY2022Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	458000	usd
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CY2022Q3	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	219000	usd
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CY2022Q3	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	101000	usd
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CY2022Q3	us-gaap	Business Combination Contingent Consideration Liability Current BusinessCombinationContingentConsiderationLiabilityCurrent	640000	usd
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CY2022Q3	us-gaap	Liabilities Current LiabilitiesCurrent	3217000	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	2978000	usd
CY2022Q3	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	203000	usd
CY2022Q2	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	203000	usd
CY2022Q3	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	820000	usd
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CY2022Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
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CY2022Q3	us-gaap	Common Stock Value CommonStockValue	56000	usd
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CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	63312000	usd
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CY2021Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	390000	usd
CY2021Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-14000	usd
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	77765000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-5852000	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-3079000	usd
CY2022Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	43000	usd
CY2021Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	40000	usd
CY2022Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	40000	usd
CY2021Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	6000	usd
CY2022Q3	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	75000	usd
CY2021Q3	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	69000	usd
CY2022Q3	OPTT	Amortization Of Premium On Marketable Securities AmortizationOfPremiumOnMarketableSecurities	220000	usd
CY2021Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	891000	usd
CY2022Q3	us-gaap	Share Based Compensation ShareBasedCompensation	333000	usd
CY2021Q3	us-gaap	Share Based Compensation ShareBasedCompensation	390000	usd
CY2022Q3	OPTT	Change In Contingent Liability Consideration ChangeInContingentLiabilityConsideration	131000	usd
CY2022Q3	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-363000	usd
CY2021Q3	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	96000	usd
CY2022Q3	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	280000	usd
CY2021Q3	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	114000	usd
CY2022Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	146000	usd
CY2022Q3	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	13000	usd
CY2021Q3	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	20000	usd
CY2022Q3	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	154000	usd
CY2021Q3	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-233000	usd
CY2022Q3	OPTT	Increase Decrease In Accrued Expenses IncreaseDecreaseInAccruedExpenses	212000	usd
CY2021Q3	OPTT	Increase Decrease In Accrued Expenses IncreaseDecreaseInAccruedExpenses	-60000	usd
CY2022Q3	OPTT	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	-82000	usd
CY2021Q3	OPTT	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	-75000	usd
CY2022Q3	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-28000	usd
CY2021Q3	OPTT	Increase Decrease In Litigation Payable IncreaseDecreaseInLitigationPayable	-1224000	usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5092000	usd
CY2021Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5287000	usd
CY2022Q3	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	17252000	usd
CY2022Q3	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	10813000	usd
CY2022Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	56000	usd
CY2021Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	7000	usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	6383000	usd
CY2021Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-7000	usd
CY2021Q3	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-14000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1291000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-5308000	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	8362000	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	83634000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	9653000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	78326000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-5900000	usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5100000	usd
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-259600000	usd
CY2022Q3	us-gaap	Cash Cash	9400000	usd
CY2022Q3	us-gaap	Short Term Investments ShortTermInvestments	42700000	usd
CY2022Q3	OPTT	Prepaid Software And Licenses PrepaidSoftwareAndLicenses	101000	usd
CY2022Q2	OPTT	Prepaid Software And Licenses PrepaidSoftwareAndLicenses	127000	usd
CY2022Q3	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_844_eus-gaap--UseOfEstimates_zg0FcSINI2wa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_86E_zliy00geaJul">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation, valuations, purchase price allocations and contingent consideration related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets and the related amortization methods and periods, estimated hours and costs to complete projects customer contracts for purposes of revenue recognition. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	9176000	usd
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7885000	usd
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	9176000	usd
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7885000	usd
CY2022Q3	us-gaap	Restricted Cash Current RestrictedCashCurrent	258000	usd
CY2022Q2	us-gaap	Restricted Cash Current RestrictedCashCurrent	258000	usd
CY2022Q3	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	219000	usd
CY2022Q2	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	219000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9653000	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	8362000	usd
CY2022Q3	us-gaap	Alternative Investment AlternativeInvestment	42700000	usd
CY2022Q2	us-gaap	Alternative Investment AlternativeInvestment	49400000	usd
CY2022Q3	us-gaap	Investment Income Net Amortization Of Discount And Premium InvestmentIncomeNetAmortizationOfDiscountAndPremium	100000	usd
CY2021Q3	us-gaap	Investment Income Net Amortization Of Discount And Premium InvestmentIncomeNetAmortizationOfDiscountAndPremium	0	usd
CY2022Q3	us-gaap	Trading Securities Debt Amortized Cost TradingSecuritiesDebtAmortizedCost	300000	usd
CY2021Q3	us-gaap	Trading Securities Debt Amortized Cost TradingSecuritiesDebtAmortizedCost	0	usd
CY2022Q3	OPTT	Prepaid Sales And Marketing PrepaidSalesAndMarketing	91000	usd
CY2022Q2	OPTT	Prepaid Sales And Marketing PrepaidSalesAndMarketing	50000	usd
CY2022Q3	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	91000	usd
CY2022Q2	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	24000	usd
CY2022Q3	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	42648000	usd
CY2022Q3	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	-76000	usd
CY2022Q3	us-gaap	Investment Owned At Cost InvestmentOwnedAtCost	42724000	usd
CY2022Q3	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zhyngZhx0eec" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_86A_zd4lzaSIJqL5">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to credit risk consist principally of trade accounts receivable, marketable securities and cash. The Company believes that its credit risk is limited because the Company’s current contracts are with companies with a reliable payment history. The Company invests its excess cash in a money market fund and short term held-to maturity investment and does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to maturity investments. Cash is also maintained at foreign financial institutions. Cash in foreign financial institutions as of July 31, 2022 was approximately $<span id="xdx_901_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20220731__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--ForeignFinancialInstitutionsMember_zSrmd6XLlCah" title="Cash and cash equivalents">24,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended July 31, 2022 and 2021, the Company had three and two customers whose revenues accounted for at least 10% of the Company’s consolidated revenues, respectively. These revenue accounted for approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220501__20220731__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeAndTwoCustomersMember_zZULkty2L83i" title="Concentration risk percentage">69%</span> and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20210731__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeAndTwoCustomersMember_zWyNdRNlwj2d" title="Concentration risk percentage">88%</span> of the Company’s total revenue for the respective periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q3	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	300000	usd
CY2021Q3	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	400000	usd
CY2022Q3	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	300000	usd
CY2022Q3	OPTT	Revenue Remaining Performances Obligation Percentage RevenueRemainingPerformancesObligationPercentage	1	pure
CY2022Q3	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	300000	usd
CY2022Q3	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	100000	usd
CY2022Q2	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	84000	usd
CY2022Q3	us-gaap	Other Assets Current OtherAssetsCurrent	480000	usd
CY2022Q2	us-gaap	Other Assets Current OtherAssetsCurrent	467000	usd
CY2022Q3	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	42700000	usd
CY2022Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	6378218	shares
CY2021Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5243647	shares
CY2022Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	119000	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	482000	usd
CY2022Q3	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	666000	usd
CY2022Q2	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	386000	usd
CY2022Q3	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	101000	usd
CY2022Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	129000	usd
CY2022Q3	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	434000	usd
CY2022Q3	OPTT	Revenue Recognized And Not Billed As Of End Of Period RevenueRecognizedAndNotBilledAsOfEndOfPeriod	714000	usd
CY2022Q3	OPTT	Increase Decrease In Contract With Customer Assets IncreaseDecreaseInContractWithCustomerAssets	280000	usd
CY2022Q3	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	91000	usd
CY2022Q3	OPTT	Payments Collected For Which Revenue Has Not Been Recognized PaymentsCollectedForWhichRevenueHasNotBeenRecognized	63000	usd
CY2022Q3	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-28000	usd
CY2022Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	134000	usd
CY2022Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1090000	usd
CY2022Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	877000	usd
CY2022Q2	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	49400000	usd
CY2022Q3	us-gaap	Inventory Raw Materials InventoryRawMaterials	343000	usd
CY2022Q2	us-gaap	Inventory Raw Materials InventoryRawMaterials	198000	usd
CY2022Q3	us-gaap	Inventory Work In Process InventoryWorkInProcess	245000	usd
CY2022Q2	us-gaap	Inventory Work In Process InventoryWorkInProcess	244000	usd
CY2022Q3	us-gaap	Inventory Net InventoryNet	588000	usd
CY2022Q2	us-gaap	Inventory Net InventoryNet	442000	usd
CY2022Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	458000	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	445000	usd
CY2022Q3	us-gaap	Depreciation Depreciation	43000	usd
CY2021Q3	us-gaap	Depreciation Depreciation	40000	usd
CY2022Q3	us-gaap	Prepaid Insurance PrepaidInsurance	97000	usd
CY2022Q2	us-gaap	Prepaid Insurance PrepaidInsurance	182000	usd
CY2022Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	2086000	usd
CY2022Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	2030000	usd
CY2022Q3	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1628000	usd
CY2022Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1585000	usd
CY2022Q3	us-gaap	Operating Lease Payments OperatingLeasePayments	100000	usd
CY2021Q3	us-gaap	Operating Lease Payments OperatingLeasePayments	102000	usd
CY2022Q3	us-gaap	Operating Lease Cost OperatingLeaseCost	92000	usd
CY2021Q3	us-gaap	Operating Lease Cost OperatingLeaseCost	92000	usd
CY2022Q3	us-gaap	Short Term Lease Cost ShortTermLeaseCost	8000	usd
CY2021Q3	us-gaap	Short Term Lease Cost ShortTermLeaseCost	5000	usd
CY2022Q3	us-gaap	Lease Cost LeaseCost	100000	usd
CY2021Q3	us-gaap	Lease Cost LeaseCost	97000	usd
CY2022Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	677000	usd
CY2022Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	328000	usd
CY2022Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	446000	usd
CY2022Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	774000	usd
CY2022Q3	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y1M24D
CY2022Q3	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.083	pure
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	295000	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	362000	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	184000	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	841000	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	67000	usd
CY2022Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	774000	usd
CY2022Q3	us-gaap	Construction Payable Current ConstructionPayableCurrent	100000	usd
CY2022Q2	us-gaap	Construction Payable Current ConstructionPayableCurrent	59000	usd
CY2022Q3	us-gaap	Loss Contingency Accrual Carrying Value Current LossContingencyAccrualCarryingValueCurrent	435000	usd
CY2022Q2	us-gaap	Loss Contingency Accrual Carrying Value Current LossContingencyAccrualCarryingValueCurrent	328000	usd
CY2022Q3	us-gaap	Other Employee Related Liabilities Current OtherEmployeeRelatedLiabilitiesCurrent	355000	usd
CY2022Q2	us-gaap	Other Employee Related Liabilities Current OtherEmployeeRelatedLiabilitiesCurrent	266000	usd
CY2022Q3	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	31000	usd
CY2022Q2	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	60000	usd
CY2022Q3	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	24000	usd
CY2022Q2	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	30000	usd
CY2022Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	145000	usd
CY2019Q2	us-gaap	Sale Of Stock Number Of Shares Issued In Transaction SaleOfStockNumberOfSharesIssuedInTransaction	1542000	shares
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1110356	shares
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.34
CY2022Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P9Y2M12D
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	37	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	400.00
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1110319	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.33
CY2022Q3	OPTT	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm	P8Y10M24D
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	297467	shares
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	4.60
CY2022Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P7Y7M6D
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	51500	shares
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	0	shares
CY2021Q2	OPTT	Proceed From Sale Of Loss Carryforwards And Tax Credits ProceedFromSaleOfLossCarryforwardsAndTaxCredits	1000000.0	usd
CY2022Q3	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
0001493152-22-025628-index-headers.html	Edgar Link	pending
0001493152-22-025628-index.html	Edgar Link	pending
0001493152-22-025628.txt	Edgar Link	pending
0001493152-22-025628-xbrl.zip	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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$OPTT
Ocean Power Technologies, Inc. Stock $optt

2022 Q3 Form 10-Q Financial Statement

#000149315222025628 Filed on September 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OPTT Ocean Power Technologies, Inc. Stock $optt

2022 Q3 Form 10-Q Financial Statement

#000149315222025628 Filed on September 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OPTT
Ocean Power Technologies, Inc. Stock $optt