Q2 2026 Ocean Power Technologies Inc Earnings Call Transcript
Key Points
- Backlog increased to approximately $15 million, reflecting strong engagement across defense, government security, offshore energy, and commercial applications.
- Pipeline expanded to more than $137 million, indicating a significant increase in strategic opportunities.
- International demonstrations in Latin America and the UAE validated system performance and opened avenues for follow-on work.
- Reorganization of delivery and R&D teams to improve coordination and scalability as opportunities grow.
- Increased government engagement with initiatives like the US Coast Guard's Raptor effort, aligning with the company's capabilities.
- Revenue for the quarter was $0.4 million, a significant decrease from $2.4 million in the prior period.
- Gross profit for the quarter was a loss of $1.4 million, compared to a profit in the previous year.
- Operating expenses increased to $8.8 million for the quarter, driven by higher non-cash stock-based compensation.
- Net losses were $10.8 million for the quarter, significantly higher than the $3.9 million loss in the prior year.
- The government shutdown impacted revenue timing, delaying several deliverables into subsequent periods.
Good morning. Welcome to Ocean Power Technologies, second quarter of fiscal 2026 earnings conference call. The webcast at this call is also available and can be accessed by a link on the company's website at www.oceanpowertechnologies.com.
This conference call is being recorded and will be available for replay shortly after its completion. On the call today are Dr. Philipp Stratmann, President and Chief Executive Officer, and Bob Powers, Senior Vice President and Chief Financial Officer. Following the prepared remarks, there will be a question-and-answer session. Now I'm pleased to introduce Bob Powers.
Thank you and good morning. This morning we issued our earnings press release for the second quarter of fiscal 2026, ended October 30, 2025, and filed our Form 10-Q with the SEC. Our public filings are available on the SEC website and within the investor
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