Ocean Power Technologies, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ocean Power Technologies, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
0.84
0.51
0.63
1.7
1.21
1.76
2.73
5.53
5.86
3.74
Cost of revenue
0.94
0.76
1.3
1.79
2.28
1.86
2.5
2.7
4.2
9.66
Gross profit
-0.1
-0.25
-0.67
-0.11
-1.07
-0.1
0.24
2.83
1.66
-5.92
Research and development
5.03
4.32
4.98
4.34
4.75
10
7.7
3.6
Selling, general and administrative
6.56
6.99
7.62
6.92
7.77
General and administrative
2.89
3.57
Operating expenses
11.6
11.3
12.6
11.3
12.5
21.5
29.5
32.2
23.3
32.4
Operating income
-11.7
-11.6
-13.3
-11.4
-13.6
-21.6
-29.2
-29.3
-21.7
-38.4
Interest expense
0.12
Other non-operating income
0
-0.08
Pre-tax income
-10.2
-11.3
-13.1
-11.2
-14.8
-20.7
-26.6
-28.7
-25.5
-48.9
Income tax
-0.7
-1.12
-0.85
-0.9
-1.82
-0.28
-1.25
-1.03
Net income
-9.49
-10.2
-12.2
-10.4
-14.8
-18.9
-26.3
-27.5
-24.5
-48.9
EBITDA
-11.5
-11.4
-13.1
-11.2
-13.4
-21.4
-29
-28.9
-20.8
-37.3
EPS, basic
-50.00
-14.80
-10.64
-1.61
-0.55
-0.39
-0.53
-0.53
-0.19
-0.25
EPS, diluted
-50.00
-14.80
-10.64
-1.61
-0.55
-0.39
-0.53
-0.53
-0.19
-0.25
Shares, basic (weighted)
0.19
0.69
1.15
6.45
26,859
48,325
50.1
52.8
127
194
Shares, diluted (weighted)
0.19
0.69
1.15
6.45
26.9
48,325
50.1
52.8
127
194
Balance sheet
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
8.42
11.5
16.7
10
83
7.89
6.88
3.15
6.72
8.72
Short-term investments
0.03
0.03
49.4
27.8
Receivables
0.05
0.17
0.06
0.11
0.35
0.48
0.75
0.8
1.19
0.59
Inventory
0.44
1.04
4.83
4.22
3.19
Other current assets
0.62
0.57
0.54
0.59
0.49
0.47
0.99
1.75
0.4
2.65
Total current assets
9.75
13.3
17.6
11.7
84.4
59.3
37.7
10.5
13.6
15.9
Property, plant and equipment
0.17
0.71
0.59
0.5
0.41
0.45
1.28
3.44
3.44
10.3
Lease right-of-use assets
1.17
1.04
0.75
1.75
2.41
1.55
1.89
Goodwill
8.54
8.54
8.54
8.54
8.54
Intangible assets
0.27
4.14
3.98
3.62
3.49
3.36
Other non-current assets
0
Total assets
10.1
14.1
18.4
13.5
86.4
73.4
53.4
28.7
30.8
39.9
Accounts payable
0.59
0.29
0.31
0.22
0.69
0.91
0.95
3.37
0.57
4.37
Accrued liabilities
3.06
2.26
1.94
1.35
1.88
0.88
2.35
1.79
1.27
4.23
Deferred revenue
0.02
0.19
0.1
0.13
1.38
0.3
6.03
Short-term debt
0.04
0.5
Total current liabilities
4.6
3.74
2.44
1.9
4.69
2.98
7.91
7.36
3.29
26.4
Long-term debt
0.02
0.4
Lease liabilities
1.08
0.82
0.54
1.31
1.8
0.65
0.84
Total liabilities
4.63
3.89
2.59
3.05
5.91
4.56
9.42
9.36
4.14
27.4
Total debt
0.06
0.89
12
Paid-in capital
193
208
226
231
316
323
324
327
360
395
Retained earnings
-187
-198
-210
-220
-235
-254
-280
-308
-332
-381
Treasury stock
-0.26
-0.3
-0.3
-0.3
-0.34
-0.34
-0.36
-0.37
-1.02
-1.83
Other comprehensive income
-0.16
-0.16
-0.17
-0.18
-0.17
-0.05
-0.05
-0.05
Shareholders' equity
5.45
10.2
15.8
10.5
80.5
68.8
44
19.3
26.7
12.5
Total equity
5.45
10.2
15.8
10.5
80.5
68.8
44
19.3
26.7
12.5
Total liabilities and equity
10.1
14.1
18.4
13.5
86.4
73.4
53.4
28.7
30.8
39.9
Shares outstanding
11.6
47
50
50.3
54.8
171
7.62
Cash flow statement
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-9.49
-10.2
-12.2
-10.4
-14.8
-18.9
-26.3
-27.5
-24.5
-48.9
Depreciation and amortization
0.14
0.12
0.18
0.16
0.14
0.14
0.18
0.42
0.9
1.03
Stock-based compensation
1.23
0.33
0.3
0.34
0.72
1.17
1.46
1.16
4.6
9.49
Change in receivables
-0.05
-0.12
0.11
-0.04
-0.25
-0.13
-0.26
-0.05
-0.4
-0.33
Change in inventory
-0.29
-0.6
-3.79
0.13
-4.25
Change in payables
0.21
-0.3
0.02
-0.09
0.44
0.22
0.05
2.41
-2.8
3.8
Cash from operations
-10
-10.7
-12.1
-10.6
-11.7
-21.3
-21.7
-29.8
-18.6
-20.8
Capital expenditures
-0.05
-0.07
-0.03
-0.15
-0.65
-2.59
-0.51
-4.01
Acquisitions
-4.44
Purchases of investments
-0.03
-0.03
-49.4
-43.4
-7.89
Sales and maturities of investments
0.05
0.03
0.05
Cash from investing
0.01
-0.66
-0.03
-0.07
0.07
-54
20.5
25.5
-0.51
-4.01
Debt repaid
-0.05
-0.47
Stock issued
0.59
1.02
14.4
0.09
0.48
17.7
7.59
Share buybacks
-0.13
-0.04
-0
-0
-0.04
-0
-0.01
-0.01
Cash from financing
11.9
14.6
17.2
4.45
84.2
0.09
-0.01
0.47
22.7
26.8
Exchange rate effect
-0.04
0.09
-0.08
-0.03
0.13
-0.03
Net change in cash
1.88
3.32
4.93
-6.23
72.7
-75.3
-1.26
-3.8
3.56
2
Free cash flow
-12.2
-10.6
-11.7
-21.4
-22.4
-32.3
-19.1
-24.8
Interest paid
0.01
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $2.01 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-205.0%
Gross profit / revenue.
Operating margin
-1,089.0%
Operating income / revenue.
EBITDA margin
-1,063.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-1,223.0%
Pre-tax income / revenue.
Net margin
-1,223.0%
Net income / revenue.
FCF margin
-659.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-596.8%
Cash from operations / revenue.
Return on equity (ROE)
-615.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-134.5%
Net income / average total assets.
Return on invested capital (ROIC)
-332.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
209.4%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
62.9%
Capital expenditures / revenue.
D&A / revenue
26.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-36.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
11.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
25.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-456.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-53.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-34.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-31.1%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
29.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-14.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
53.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
57.1%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
48.6%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.52x
Current assets / current liabilities.
Quick ratio
0.29x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.25x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.17x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
25.6%
Total debt / total assets.
Liabilities / assets
78.2%
Total liabilities / total assets.
Net debt
$2.6M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$6.32
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.52
Revenue / diluted weighted shares.
FCF per share
-$3.41
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$3.09
Cash from operations / diluted weighted shares.
Book value per share
$0.94
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
128x
Market cap / revenue.
P/B
64.2x
Market cap / shareholders' equity. Only when equity is positive.
EV/Sales
128x
Enterprise value / revenue.
FCF yield
-5.2%
Free cash flow / market cap.
Earnings yield
-9.6%
Net income / market cap (the inverse of P/E).
What was Ocean Power Technologies, Inc.'s revenue in fiscal 2026?
Ocean Power Technologies, Inc. reported revenue of $3.7M for fiscal 2026, 36.2% lower than the year before.
Was Ocean Power Technologies, Inc. profitable in fiscal 2026?
No. It reported a net loss of $48.9M.
How much free cash flow did Ocean Power Technologies, Inc. generate in fiscal 2026?
Cash from operations of $20.8M minus capital expenditures of $4.0M left free cash flow of -$24.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.