Ocean Power Technologies Inc. (OPTT) Shares Plunge 17.14% on Q2 Earnings Miss, Revenue Tumbles to $0.4M

The share price fell to its lowest level so far this month, with an intraday decline of 11.76%.

Ocean Power Technologies Inc. (OPTT) reported a Q2 FY2026 earnings miss, with revenue plummeting to $0.4 million from $2.4 million a year earlier and a loss per share of $0.06. The results triggered a 17.14% pre-market price drop, underscoring investor concerns over revenue generation and operational efficiency. Despite a net loss of $10.8 million, the company’s cash reserves rose to $11.7 million, signaling liquidity resilience amid ongoing costs or long-term investments.

The firm’s expanded backlog of $15 million and a pipeline exceeding $137 million highlight future revenue potential. However, converting these into near-term gains remains uncertain. CEO Dr. Philipp Stratmann emphasized international expansion into Latin America, the Middle East, and Sub-Saharan Africa, positioning the shift as a growth lever. Success hinges on navigating regional challenges, with tangible progress likely to bolster investor confidence. Anticipated government program conversions could unlock new revenue streams, though delays in approvals may temper short-term expectations.