$OPTT
Ocean Power Technologies, Inc. Stock $optt

$optt Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-K Financial Statement

#000149315224029074 Filed on July 25, 2024

Income Statement

Concept	2024 Q3	2024 Q2	2024
Revenue	$1.301M	$1.572M	$5.525M
YoY Change	2.28%	60.41%	102.23%
Cost Of Revenue	$854.0K	$710.0K	$2.699M
YoY Change	40.23%	-36.27%	8.13%
Gross Profit	$447.0K	$862.0K	$2.826M
YoY Change	-32.58%	-743.28%	1097.46%
Gross Profit Margin	34.36%	54.83%	51.15%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development	$500.0K		$7.700M
YoY Change	-73.68%		-23.0%
% of Gross Profit	111.86%		272.47%
Depreciation & Amortization	$204.0K	$168.0K	$420.0K
YoY Change	187.32%	158.46%	23.17%
% of Gross Profit	45.64%	19.49%	14.86%
Operating Expenses	$4.920M	$7.626M	$32.16M
YoY Change	-39.28%	-21.8%	9.18%
Operating Profit	-$4.473M	-$6.764M	-$29.33M
YoY Change	-39.37%	-31.58%	0.39%
Interest Expense	$3.000K	$40.00K	$802.0K
YoY Change	-99.12%	-86.53%	-11.18%
% of Operating Profit
Other Income/Expense, Net	$17.00K	$2.000K	$2.000K
YoY Change		-95.92%	-99.88%
Pretax Income	-$4.453M	-$6.722M	-$28.74M
YoY Change	-36.74%	-29.54%	8.02%
Income Tax		$0.00	-$1.254M
% Of Pretax Income
Net Earnings	-$4.500M	-$6.722M	-$27.50M
YoY Change	-35.71%	-29.54%	4.46%
Net Earnings / Revenue	-345.89%	-427.61%	-497.74%
Basic Earnings Per Share	-$0.05		-$0.47
Diluted Earnings Per Share	-$0.05	-$0.11	-$0.47
COMMON SHARES
Basic Shares Outstanding	92.71M shares		59.03M shares
Diluted Shares Outstanding	81.95M shares		59.03M shares

Balance Sheet

Concept	2024 Q3	2024 Q2	2024
SHORT-TERM ASSETS
Cash & Short-Term Investments	$3.182M	$3.151M	$3.151M
YoY Change	-88.06%	-90.91%	-90.91%
Cash & Equivalents	$3.182M	$3.151M	$3.151M
Short-Term Investments		$0.00	$0.00
Other Short-Term Assets	$785.0K	$1.747M	$1.747M
YoY Change	26.82%	64.97%	64.97%
Inventory	$5.681M	$4.831M	$4.831M
Prepaid Expenses
Receivables	$963.0K	$796.0K	$814.0K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$11.09M	$10.54M	$10.54M
YoY Change	-63.15%	-72.01%	-72.01%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.613M	$3.443M	$5.848M
YoY Change	169.23%	13.59%	92.94%
Goodwill	$8.537M	$8.537M
YoY Change	0.0%	0.0%
Intangibles	$3.589M	$3.622M
YoY Change	-8.86%	-8.95%
Long-Term Investments
YoY Change
Other Assets	$154.0K	$154.0K	$154.0K
YoY Change	-1.28%	-0.65%	-0.65%
Total Long-Term Assets	$18.09M	$18.16M	$18.16M
YoY Change	16.05%	15.67%	15.67%
TOTAL ASSETS
Total Short-Term Assets	$11.09M	$10.54M	$10.54M
Total Long-Term Assets	$18.09M	$18.16M	$18.16M
Total Assets	$29.18M	$28.70M	$28.70M
YoY Change	-36.12%	-46.22%	-46.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.741M	$3.366M	$3.366M
YoY Change	34.23%	253.57%	253.57%
Accrued Expenses	$1.579M	$1.787M	$2.561M
YoY Change	1.48%	-37.84%	-10.92%
Deferred Revenue	$445.0K	$302.0K
YoY Change	-63.13%	-78.08%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$5.141M	$7.359M	$7.359M
YoY Change	-10.51%	-6.93%	-6.93%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$1.525M	$1.798M	$1.798M
YoY Change	30.57%	37.15%	37.15%
Total Long-Term Liabilities	$1.525M	$1.798M	$1.798M
YoY Change	30.57%	37.15%	37.15%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.141M	$7.359M	$7.359M
Total Long-Term Liabilities	$1.525M	$1.798M	$1.798M
Total Liabilities	$6.869M	$9.360M	$9.360M
YoY Change	-3.47%	-0.65%	-0.65%
SHAREHOLDERS EQUITY
Retained Earnings	-$312.0M	-$307.6M
YoY Change	8.68%	9.81%
Common Stock	$96.00K	$61.00K
YoY Change	62.71%	8.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$369.0K	$369.0K
YoY Change	3.36%	3.94%
Treasury Stock Shares
Shareholders Equity	$22.31M	$19.34M	$19.34M
YoY Change
Total Liabilities & Shareholders Equity	$29.18M	$28.70M	$28.70M
YoY Change	-36.12%	-46.22%	-46.22%

Cashflow Statement

Concept	2024 Q3	2024 Q2	2024
OPERATING ACTIVITIES
Net Income	-$4.500M	-$6.722M	-$27.50M
YoY Change	-35.71%	-29.54%	4.46%
Depreciation, Depletion And Amortization	$204.0K	$168.0K	$420.0K
YoY Change	187.32%	158.46%	23.17%
Cash From Operating Activities	-$6.100M	-$5.052M	-$29.80M
YoY Change	-23.75%	-10.07%	37.28%
INVESTING ACTIVITIES
Capital Expenditures	$374.0K	$1.361M	$2.585M
YoY Change	181.2%	89.82%	153.68%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$4.391M	$28.08M
YoY Change	-100.0%	91.0%	30.72%
Cash From Investing Activities	-$374.0K	$3.030M	$25.50M
YoY Change	-107.52%	91.53%	24.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$14.00K
YoY Change			-200.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$6.529M	453.0K	$469.0K
YoY Change	-326550.0%		-3450.0%
NET CHANGE
Cash From Operating Activities	-$6.100M	-5.052M	-$29.80M
Cash From Investing Activities	-$374.0K	3.030M	$25.50M
Cash From Financing Activities	$6.529M	453.0K	$469.0K
Net Change In Cash	$31.00K	-1.569M	-$3.798M
YoY Change	-101.02%	-61.12%	201.67%
FREE CASH FLOW
Cash From Operating Activities	-$6.100M	-$5.052M	-$29.80M
Capital Expenditures	$374.0K	$1.361M	$2.585M
Free Cash Flow	-$6.474M	-$6.413M	-$32.39M
YoY Change	-20.4%	1.23%	42.5%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2024	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	59031736	shares
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	55998543	shares
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	55998543	shares
CY2024	us-gaap	Net Income Loss NetIncomeLoss	-27483000	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-26326000	usd
CY2024	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	-27483000	usd
CY2023	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	-26326000	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	68831000	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-26326000	usd
CY2023	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	1461000	usd
CY2023	OPTT	Stock Issued During Period Value Shares Withheld For Tax Withholdings StockIssuedDuringPeriodValueSharesWithheldForTaxWithholdings	14000	usd
CY2023	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	1000	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	43953000	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	43953000	usd
CY2024	us-gaap	Net Income Loss NetIncomeLoss	-27483000	usd
CY2024	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	1155000	usd
CY2024	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	1250000	usd
CY2024	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	29000	usd
CY2024	OPTT	Stock Issued During Period Value Net Of Issuance Costs StockIssuedDuringPeriodValueNetOfIssuanceCosts	454000	usd
CY2024	OPTT	Stock Issued During Period Value Shares Withheld For Tax Withholdings StockIssuedDuringPeriodValueSharesWithheldForTaxWithholdings	14000	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	19344000	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	19344000	usd
CY2024	us-gaap	Net Income Loss NetIncomeLoss	-27483000	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-26326000	usd
CY2024	OPTT	Foreign Currency Transaction Gain Loss Net Of Tax ForeignCurrencyTransactionGainLossNetOfTax	2000	usd
CY2023	OPTT	Foreign Currency Transaction Gain Loss Net Of Tax ForeignCurrencyTransactionGainLossNetOfTax	1000	usd
CY2024	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	420000	usd
CY2023	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	183000	usd
CY2024	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	148000	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	158000	usd
CY2024	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	593000	usd
CY2023	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	296000	usd
CY2024	OPTT	Amortization Of Premium On Investments AmortizationOfPremiumOnInvestments	290000	usd
CY2023	OPTT	Amortization Of Premium On Investments AmortizationOfPremiumOnInvestments	-113000	usd
CY2024	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	-72000	usd
CY2023	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	1112000	usd
CY2024	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-210000	usd
CY2024	us-gaap	Share Based Compensation ShareBasedCompensation	1155000	usd
CY2023	us-gaap	Share Based Compensation ShareBasedCompensation	1461000	usd
CY2024	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	51000	usd
CY2023	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	262000	usd
CY2024	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-134000	usd
CY2023	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-234000	usd
CY2024	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	3787000	usd
CY2023	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	602000	usd
CY2024	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	753000	usd
CY2023	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	527000	usd
CY2024	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	2414000	usd
CY2023	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	47000	usd
CY2024	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-309000	usd
CY2023	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1469000	usd
CY2024	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-500000	usd
CY2024	OPTT	Increase Decrease In Right Of Use Liability IncreaseDecreaseInRightOfUseLiability	-514000	usd
CY2023	OPTT	Increase Decrease In Right Of Use Liability IncreaseDecreaseInRightOfUseLiability	-311000	usd
CY2024	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-1076000	usd
CY2023	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	1249000	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-21707000	usd
CY2024	us-gaap	Proceeds From Sale Of Short Term Investments ProceedsFromSaleOfShortTermInvestments	35975000	usd
CY2023	us-gaap	Proceeds From Sale Of Short Term Investments ProceedsFromSaleOfShortTermInvestments	64923000	usd
CY2024	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	7894000	usd
CY2023	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	43442000	usd
CY2024	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2585000	usd
CY2023	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	648000	usd
CY2023	us-gaap	Payments To Acquire Lease Receivables PaymentsToAcquireLeaseReceivables	371000	usd
CY2024	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	25496000	usd
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	20462000	usd
CY2024	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	29000	usd
CY2024	OPTT	Proceeds From Issuance Initial Public Offering Agp ProceedsFromIssuanceInitialPublicOfferingAGP	454000	usd
CY2024	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	14000	usd
CY2023	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	14000	usd
CY2024	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	469000	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-14000	usd
CY2024	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-3798000	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1259000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	7103000	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	8362000	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3305000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	7103000	usd
CY2024	us-gaap	Stock Issued1 StockIssued1	1250000	usd
CY2024	OPTT	Operating Right Of Use Asset Obtained In Exchange For Operating Lease Liability OperatingRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	1247000	usd
CY2023	OPTT	Operating Right Of Use Asset Obtained In Exchange For Operating Lease Liability OperatingRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	1296000	usd
CY2024	us-gaap	Net Income Loss NetIncomeLoss	-27500000	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-26300000	usd
CY2024	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-29800000	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-21700000	usd
CY2024	OPTT	Incurred Expenses IncurredExpenses	3900000	usd
CY2024	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84E_eus-gaap--UseOfEstimates_zMRAI47wswTe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_863_zuHfVHrMuqfj">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><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 several 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 revenue and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation based on actual and projected revenues, over time revenue recognition, valuation consideration related to business combinations, including contingent consideration based on actual and projected revenues, including discount rates and present values, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2024Q2	OPTT	Revenue Remaining Performance Obligations RevenueRemainingPerformanceObligations	4900000	usd
CY2024Q2	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	3300000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	7100000	usd
CY2024Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	3151000	usd
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	6883000	usd
CY2023Q2	us-gaap	Restricted Cash Current RestrictedCashCurrent	65000	usd
CY2024Q2	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	154000	usd
CY2023Q2	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	155000	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3305000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7103000	usd
CY2023Q2	us-gaap	Short Term Investments ShortTermInvestments	27800000	usd
CY2024	OPTT	Accretion Of Discount Amortization Of Premium On Investment AccretionOfDiscountAmortizationOfPremiumOnInvestment	290000	usd
CY2023	OPTT	Accretion Of Discount Amortization Of Premium On Investment AccretionOfDiscountAmortizationOfPremiumOnInvestment	122000	usd
CY2023Q2	us-gaap	Investment Owned At Cost InvestmentOwnedAtCost	27790000	usd
CY2023	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	158000	usd
CY2023Q2	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	27948000	usd
CY2024	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_z64fBt7EcpIb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(j) <span id="xdx_866_z1v7owuqll6h">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><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, short-term investments and cash equivalents. The Company believes that its credit risk is limited because the Company’s current contracts are with entities with a reliable payment history. The Company invests its excess cash in a money market fund and short-term held-to maturity investments 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the year ended April 30, 2024 and 2023, the Company had four and two customers whose revenue accounted for at least 10% of the Company’s consolidated revenue, respectively. These customers accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230501__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zikLiOes8bKf" title="Concentration risk percentage">52</span>% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220501__20230430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zR9toZbYaEde" title="Concentration risk percentage">32</span>% of the Company’s total revenue for the respective periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5859072	shares
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	7777026	shares
CY2024	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	1200000	usd
CY2023	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	1500000	usd
CY2024	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	7700000	usd
CY2023	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	10000000.0	usd
CY2024Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	796000	usd
CY2023Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	745000	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	482000	usd
CY2024Q2	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	18000	usd
CY2023Q2	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	152000	usd
CY2022Q2	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	386000	usd
CY2024Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	302000	usd
CY2023Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1378000	usd
CY2022Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	129000	usd
CY2024	OPTT	Transferred To Receivables From Contract Assets Recognized TransferredToReceivablesFromContractAssetsRecognized	1879000	usd
CY2023	OPTT	Transferred To Receivables From Contract Assets Recognized TransferredToReceivablesFromContractAssetsRecognized	1768000	usd
CY2024	OPTT	Revenue Recognized And Not Billed RevenueRecognizedAndNotBilled	1745000	usd
CY2023	OPTT	Revenue Recognized And Not Billed RevenueRecognizedAndNotBilled	1534000	usd
CY2024	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-134000	usd
CY2023	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-234000	usd
CY2024	OPTT	Contract With Customer Liability Revenue Recognized Including Opening Balance ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance	2424000	usd
CY2023	OPTT	Contract With Customer Liability Revenue Recognized Including Opening Balance ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance	574000	usd
CY2024	OPTT	Payments Collected For Which Revenue Has Not Been Recognized PaymentsCollectedForWhichRevenueHasNotBeenRecognized	1348000	usd
CY2023	OPTT	Payments Collected For Which Revenue Has Not Been Recognized PaymentsCollectedForWhichRevenueHasNotBeenRecognized	1823000	usd
CY2024	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-1076000	usd
CY2023	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	1249000	usd
CY2024Q2	us-gaap	Inventory Raw Materials InventoryRawMaterials	4298000	usd
CY2023Q2	us-gaap	Inventory Raw Materials InventoryRawMaterials	1044000	usd
CY2024Q2	us-gaap	Inventory Work In Process InventoryWorkInProcess	397000	usd
CY2024Q2	us-gaap	Inventory Finished Goods InventoryFinishedGoods	136000	usd
CY2024Q2	us-gaap	Inventory Net InventoryNet	4831000	usd
CY2023Q2	us-gaap	Inventory Net InventoryNet	1044000	usd
CY2024Q2	us-gaap	Prepaid Insurance PrepaidInsurance	202000	usd
CY2023Q2	us-gaap	Prepaid Insurance PrepaidInsurance	358000	usd
CY2024Q2	OPTT	Prepaid Software And Licenses PrepaidSoftwareAndLicenses	224000	usd
CY2023Q2	OPTT	Prepaid Software And Licenses PrepaidSoftwareAndLicenses	190000	usd
CY2024Q2	OPTT	Prepaid Sales And Marketing PrepaidSalesAndMarketing	124000	usd
CY2023Q2	OPTT	Prepaid Sales And Marketing PrepaidSalesAndMarketing	122000	usd
CY2024Q2	OPTT	Prepaid Project Costs PrepaidProjectCosts	578000	usd
CY2023Q2	OPTT	Prepaid Project Costs PrepaidProjectCosts	46000	usd
CY2024Q2	OPTT	Prepaid Inventory Materials PrepaidInventoryMaterials	414000	usd
CY2023Q2	OPTT	Prepaid Inventory Materials PrepaidInventoryMaterials	58000	usd
CY2024Q2	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	205000	usd
CY2023Q2	us-gaap	Other Prepaid Expense Current OtherPrepaidExpenseCurrent	220000	usd
CY2024Q2	us-gaap	Other Assets Current OtherAssetsCurrent	1747000	usd
CY2023Q2	us-gaap	Other Assets Current OtherAssetsCurrent	994000	usd
CY2024Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	5416000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	2851000	usd
CY2024Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1973000	usd
CY2023Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1571000	usd
CY2024Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3443000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1280000	usd
CY2024	us-gaap	Depreciation Depreciation	420000	usd
CY2023	us-gaap	Depreciation Depreciation	183000	usd
CY2024Q2	us-gaap	Finite Lived Patents Gross FiniteLivedPatentsGross	2729000	usd
CY2023Q2	us-gaap	Finite Lived Patents Gross FiniteLivedPatentsGross	2729000	usd
CY2024Q2	us-gaap	Finite Lived Trademarks Gross FiniteLivedTrademarksGross	2769000	usd
CY2023Q2	us-gaap	Finite Lived Trademarks Gross FiniteLivedTrademarksGross	2769000	usd
CY2023Q2	us-gaap	Finite Lived Trade Names Gross FiniteLivedTradeNamesGross	130000	usd
CY2023Q2	us-gaap	Finite Lived Customer Relationships Gross FiniteLivedCustomerRelationshipsGross	150000	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	5498000	usd
CY2023Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	5778000	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1876000	usd
CY2023Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1800000	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	3622000	usd
CY2023Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	3978000	usd
CY2024	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	148000	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	158000	usd
CY2024	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	usd
CY2023	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	usd
CY2024Q2	us-gaap	Lessee Operating Lease Remaining Lease Term LesseeOperatingLeaseRemainingLeaseTerm	P2Y
CY2024	us-gaap	Operating Lease Expense OperatingLeaseExpense	700000	usd
CY2023	us-gaap	Operating Lease Expense OperatingLeaseExpense	400000	usd
CY2024	us-gaap	Operating Lease Cost OperatingLeaseCost	640000	usd
CY2023	us-gaap	Operating Lease Cost OperatingLeaseCost	382000	usd
CY2024	us-gaap	Short Term Lease Cost ShortTermLeaseCost	68000	usd
CY2023	us-gaap	Short Term Lease Cost ShortTermLeaseCost	44000	usd
CY2024	us-gaap	Lease Cost LeaseCost	708000	usd
CY2023	us-gaap	Lease Cost LeaseCost	426000	usd
CY2024Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2405000	usd
CY2024Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	774000	usd
CY2024Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	1798000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	2572000	usd
CY2024Q2	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y11M23D
CY2024Q2	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.084	pure
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1410000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1847000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	329000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	333000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	28000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	3947000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	1375000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	2572000	usd
CY2024Q2	us-gaap	Other Employee Related Liabilities Current OtherEmployeeRelatedLiabilitiesCurrent	1271000	usd
CY2023Q2	us-gaap	Other Employee Related Liabilities Current OtherEmployeeRelatedLiabilitiesCurrent	1948000	usd
CY2024Q2	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	369000	usd
CY2023Q2	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	52000	usd
CY2023Q2	us-gaap	Construction Payable Current ConstructionPayableCurrent	181000	usd
CY2024Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	147000	usd
CY2023Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	165000	usd
CY2024Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1787000	usd
CY2023Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2346000	usd
CY2024Q2	OPTT	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Exercised ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsExercised	732500	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1529185	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.75
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P8Y9M18D
CY2024	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	794369	shares
CY2024	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	1.29
CY2024	OPTT	Stock Issued During Period Shares Stock Options Expired StockIssuedDuringPeriodSharesStockOptionsExpired	273	shares
CY2024	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice	341.08
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	734543	shares
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.12
CY2024	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P7Y7M6D
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	462150	shares
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	2.85
CY2024	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P7Y1M6D
CY2024Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	200000	usd
CY2024	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y4M24D
CY2024	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-28737000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-26578000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	-26000	usd
CY2024	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-28737000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-26604000	usd
CY2024	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2024	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	-0.035	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.040	pure
CY2024	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits Research EffectiveIncomeTaxRateReconciliationTaxCreditsResearch	-0.011	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits Research EffectiveIncomeTaxRateReconciliationTaxCreditsResearch	0.019	pure
CY2024	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Other EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther	0.004	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Other EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther	-0.011	pure
CY2024	OPTT	Effective Income Tax Reconciliation Proceeds Of Sale Of New Jersey Tax Benefits EffectiveIncomeTaxReconciliationProceedsOfSaleOfNewJerseyTaxBenefits	-0.034	pure
CY2023	OPTT	Effective Income Tax Reconciliation Proceeds Of Sale Of New Jersey Tax Benefits EffectiveIncomeTaxReconciliationProceedsOfSaleOfNewJerseyTaxBenefits	-0.070	pure
CY2024	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.045	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.013	pure
CY2024	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.198	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.229	pure
CY2024	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.043	pure
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.010	pure
CY2024Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards Domestic DeferredTaxAssetsOperatingLossCarryforwardsDomestic	48745000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards Domestic DeferredTaxAssetsOperatingLossCarryforwardsDomestic	43788000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards Foreign DeferredTaxAssetsOperatingLossCarryforwardsForeign	2059000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards Foreign DeferredTaxAssetsOperatingLossCarryforwardsForeign	2059000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards State And Local DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal	1934000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards State And Local DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal	1578000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	5404000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	5143000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	470000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	662000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities	312000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities	474000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Other DeferredTaxAssetsOther	2578000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Other DeferredTaxAssetsOther	1977000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	61502000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	55681000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	60322000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	54644000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	1180000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	1037000	usd
CY2024Q2	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets	793000	usd
CY2023Q2	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets	792000	usd
CY2024Q2	OPTT	Deferred Tax Liabilities Other Liabilities DeferredTaxLiabilitiesOtherLiabilities	590000	usd
CY2023Q2	OPTT	Deferred Tax Liabilities Other Liabilities DeferredTaxLiabilitiesOtherLiabilities	448000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	203000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	203000	usd
CY2024Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	60300000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	54600000	usd
CY2024	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	5700000	usd
CY2023	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	7000000.0	usd
CY2024Q2	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	231400000	usd
CY2024	OPTT	Operating Loss Carryforwards Expiration Description OperatingLossCarryforwardsExpirationDescription	begin to expire in fiscal 2024
CY2024Q2	OPTT	Operating Loss Carryforwards Subject To No Expiration OperatingLossCarryforwardsSubjectToNoExpiration	97900000	usd
CY2024	us-gaap	Operating Loss Carryforwards Limitations On Use OperatingLossCarryforwardsLimitationsOnUse	the deductibility of such federal net operating losses may be limited to 80% of our taxable income in future years.
CY2023Q2	us-gaap	Loss Contingency Allegations LossContingencyAllegations	on April 24, 2024, Paragon made the following “non-dilutive $3MM preferred stock” offer to the Company: “...The preferred would have the option to be convertible to common stock, at $0.05 a share, or 25% of the 30-day average trading price, whichever is higher...”. After the Board correctly rejected the $3MM preferred stock offer, on June 7, 2024, Paragon issued a press release that proclaimed its offer was non-dilutive. In fact, Paragon’s offer was highly dilutive because the offer stipulated that the proposed OPT preferred stock to be issued to Paragon would be convertible to OPT common stock at a 75% discount to the fair market value of the common stock. The Paragon offer thus essentially amounted to a change in control of the Company at 25% of its fair market value.
CY2023Q2	us-gaap	Legal Fees LegalFees	3900000	usd
CY2024	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2024	us-gaap	Defined Contribution Plan Maximum Annual Contributions Per Employee Percent DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent	1	pure
CY2024	OPTT	Employee Contribution Percentage EmployeeContributionPercentage	0.03	pure
CY2024	OPTT	Employee Contribution Percentage Maximum EmployeeContributionPercentageMaximum	0.06	pure

Files In Submission

Name	View Source	Status
0001493152-24-029074-index-headers.html	Edgar Link	pending
0001493152-24-029074-index.html	Edgar Link	pending
0001493152-24-029074.txt	Edgar Link	pending
0001493152-24-029074-xbrl.zip	Edgar Link	pending
ex21-1.htm	Edgar Link	pending
ex23-1.htm	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
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ex4-3.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-k.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
optt-20240430.xsd	Edgar Link	pending
R1.htm	Edgar Link	pending
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optt-20240430_cal.xml	Edgar Link	unprocessable
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optt-20240430_pre.xml	Edgar Link	unprocessable
form10-k_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$OPTT
Ocean Power Technologies, Inc. Stock $optt

2024 Q3 Form 10-K Financial Statement

#000149315224029074 Filed on July 25, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OPTT Ocean Power Technologies, Inc. Stock $optt

2024 Q3 Form 10-K Financial Statement

#000149315224029074 Filed on July 25, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OPTT
Ocean Power Technologies, Inc. Stock $optt