Ocean Power Technologies Q1 Revenue Up on Strong Defense Market Demand

Ocean Power Technologies reported Q1 2027 results, highlighting operational execution, expanding defense-market access, and continued development of persistent autonomous maritime infrastructure. The company operated three PowerBuoy systems concurrently for the U.S. Department of Homeland Security, demonstrating sustained field performance and operational validation of its ability to deploy and support persistent offshore infrastructure for defense and security customers. Ocean Power Technologies also successfully deployed and commissioned a PowerBuoy system off the coast of New Jersey for Rutgers University, delivered a WAM-V unmanned surface vehicle to Stevens Institute of Technology, and acquired strategic subsea developmental technology assets from Columbia Power Technologies. Additionally, the company achieved Cybersecurity Maturity Model Certification Level 2 compliance, strengthening its readiness to pursue and support U.S. defense programs requiring the protection of Controlled Unclassified Information.