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OPTT / Ocean Power Technologies sees 1Q revenue climb as sales pipeline surges

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced fiscal first quarter 2023 revenue of $1.3 million, up from $0.7 million a year earlier, driven by sales of WAM-V autonomous vehicles, revenue from its previously announced contract with the Department of Energy (DOE) and strategic consulting services. The provider of ocean energy and intelligent data services also said its sales pipeline has increased 215% year over year to about $85 million as of July 31, 2023, which company attributed to a significant increase in defense and security activity as well as an expansion of commercial opportunities, due to growing interest from offshore wind companies for autonomous monitoring, surveillance and survey-related services during various stages of the project development cycle. Read More

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OPTT

Posted: Sep 13 2023, 16:42

Author Name: Proactive Investors

OPTT News

By Proactive Investors
October 26, 2023

Ocean Power Technologies' recent contracts add to already solid pipeline: analysts

Ocean Power Technologies (OPT) Inc's recent contract with WildAid and Caribbean Law Enforcement as well as its $1.6 million additional volume order

By Proactive Investors
October 25, 2023

Ocean Power Technologies receives contract from WildAid to combat illegal fishing

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has announced a contract with WildAid and Caribbean Law Enforcement partners aimed to protect vital m

By Proactive Investors
October 24, 2023

Ocean Power Technologies receives $1.6M order from Sulmara for WAM-V 16s

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced that it has received an additional volume order valued at $1.6 million from Sulmara for mul

By Proactive Investors
September 13, 2023

Ocean Power Technologies sees 1Q revenue climb as sales pipeline surges

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced fiscal first quarter 2023 revenue of $1.3 million, up from $0.7 million a year earlier, driv

By Proactive Investors
September 8, 2023

Ocean Power Technologies wins three multi-year NOAA contracts to revolutionize Uncrewed Maritime Systems

Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it won three separate Indefinite Delivery Indefinite Quantity (IDIQ) multiple-award contrac

By Proactive Investors
August 17, 2023

Ocean Power Technologies reveals WAM-V on-water charging breakthrough

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has announced what the company called a “pivotal achievement” in the field of autonomous maritime

By GlobeNewsWire
August 14, 2023

Ocean Power Technologies to Report 2023 First Quarter Results on September 13, 2023

MONROE TOWNSHIP, N.J., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in in

By Proactive Investors
July 18, 2023

Ocean Power Technologies expected to double its order book by the end of 2024

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) expects its contract orders to more than double to $15 million in the 2024 financial year, the intel

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