Ocean Power Technologies announced its financial results for the fiscal first quarter of 2026, with significant growth in backlog and pipeline numbers.
The company's partnership expansions and technology upgrades demonstrate a strategic focus on growth and positioning in the maritime industry.
OPT's presence expansion in the U.S. market and role as a thought leader in marine energy highlight its commitment to long-term revenue growth.
Backlog Surge
Backlog at July 31, 2025 surged by 184% to $15.0 million, indicating strong demand for OPT's products and services.
Strategic Partnerships
Expanded partnership with UAE-based Unique Group for regional growth and service capacity enhancement.
Technology Upgrades
Major upgrade to AI-enabled Merrows™ MDAS enhances performance and expands interoperability, positioning OPT as a maritime security partner.
U.S. Market Expansion
Established a new office in Washington, D.C., to strengthen presence in the uncrewed systems market and engage with key stakeholders.
Industry Thought Leadership
Testified before New Jersey Legislature, showcasing OPT's leadership in marine energy innovation and influence on national conversations.
- OPT's record backlog and pipeline expansion reflect growing demand for its autonomous, persistent maritime systems.
- The company's focus on combining autonomy, renewable power, and advanced analytics positions it as a key player in delivering critical ocean data services globally.
With accelerating momentum in markets and increasing recognition for its solutions, OPT is poised for seizing new opportunities and expanding its leadership in the maritime industry.