Business
Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2026 Results
Record Backlog and Strategic DHS Win Accelerate Maritime Defense Platform StrategyMONROE TOWNSHIP, N.J., March 17, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results, including record backlog, for its fiscal third quarter (“3Q26”) ended January 31, 2026. Highlights include: 3Q26 RESULTS and RECENT HIGHLIGHTS OPT secured a multi-buoy contract totaling approximately $6.5 million from the U.S. Department of Homel
About this update from Ocean Power Technologies, Inc.
[{"type":"image","alt":"Ocean Power Technologies, Inc.","displaySize":"","headline":null,"caption":"Ocean Power Technologies, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":67,"url":"https://media.zenfs.com/en/globenewswire.com/d45c6ee84515ee423edc7341cff22d29"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/5G5ltsouE_sl04rToTg85A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk0O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/d45c6ee84515ee423edc7341cff22d29","width":300,"height":67}},"lazy":false},{"type":"text","content":"Record Backlog and Strategic DHS Win Accelerate Maritime Defense Platform Strategy","length":82,"tagName":"p"},{"type":"text","content":"MONROE TOWNSHIP, N.J., March 17, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results, including record backlog, for its fiscal third quarter (“3Q26”) ended January 31, 2026. Highlights include:","length":299,"tagName":"p"},{"type":"text","content":"3Q26 RESULTS and RECENT HIGHLIGHTS","length":34,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"OPT secured a multi-buoy contract totaling approximately $6.5 million from the U.S. Department of Homeland Security (“DHS”) supporting a U.S. Coast Guard maritime domain awareness mission off San Diego. The award provides multi-quarter revenue visibility, with delivery of four newly built MERROWS®-equipped PowerBuoy® systems beginning in Q4 of fiscal 2026. The contract further advances our shift toward higher-margin, recurring revenue. Strategically, this deployment with Anduril, a U.S. based defense technology company and the prime contractor for this project, positions our PowerBuoy® systems within a scalable, next-generation defense sensing architecture. Operating alongside Anduril’s surveillance towers in one of the nation’s most critical maritime regions, this program establishes a meaningful relationship with DHS and the U.S. Coast Guard. OPT has already contracted the deployment vessel for this project and OPT believes successful execution creates a clear pathway for additional buoy deployments and geographic expansion, reinforcing OPT’s role as a provider of persistent, mission-critical maritime infrastructure for U.S. national security.","length":1163,"tagName":"p"}]},{"val":[{"t...