Ocean Power Technologies, Inc. announced its financial results for the fiscal second quarter of 2026, showing significant growth.
Backlog at October 31, 2025, increased to approximately $15.0 million, marking a substantial improvement over the previous year.
The company witnessed a 63% increase in pipeline value, reaching $137.5 million as of October 31, 2025.
Backlog Growth
Backlog increased by $11.2 million year over year, reaching $15.0 million.
Pipeline Expansion
Pipeline value surged by $53.1 million, standing at $137.5 million as of October 31, 2025.
Strategic Partnerships
OPT entered strategic partnerships with Mythos AI and Gradient Marine to enhance its AI-driven autonomy capabilities and product development cycles.
- The strategic partnerships with Mythos AI and Gradient Marine are expected to accelerate OPT's capabilities in autonomous maritime systems, leading to broader market reach and advanced product offerings.
- The increased backlog and pipeline values signify strong commercial momentum for OPT, positioning the company favorably for future growth and customer engagements.
OPT's operational momentum and strategic partnerships mark a significant period of growth and technological advancement. The company's focus on autonomy and digital-twin capabilities strengthens its competitive position in defense and commercial markets.