Ocean Power Technologies shares surge 39.48% after hours as $15M backlog jumps 300% and strategic AI/digital-twin partnerships drive momentum.

Ocean Power Technologies (OPTT) surged 39.48% in after-hours trading following the release of its Q2 2026 results, which highlighted a 300% year-over-year increase in backlog to $15.0 million and a 63% rise in pipeline to $137.5 million. The company also announced strategic partnerships with Mythos AI and Gradient Marine to integrate AI autonomy and digital-twin capabilities, bolstering its competitive position in defense and maritime markets. CEO Philipp Stratmann emphasized operational momentum, including shipping eight WAM-V autonomous surface vehicles and completing international demonstrations in Latin America and the UAE. Despite a revenue decline attributed to the U.S. federal government shutdown, management underscored confidence in converting the expanded pipeline into future revenue. The CEO’s purchase of $2,172 in shares further signaled insider optimism. These developments collectively drove the sharp post-earnings rally.