Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software, controls, sensors, integration services, and marine installation services. In addition, it offers distributed offshore power and communications for remote surface and subsea applications in markets, such as defense and security, offshore oil and gas, science and research, and offshore wind. Further, the company provides Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Additionally, it offers offshore data collection, integration, analytics, and real time communication for various applications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Monroe Township, New Jersey.
Revenue of Ocean Power Technologies, Inc. (OPTT)
Revenue in 2024 (TTM): $5.53 M
According to Ocean Power Technologies, Inc.'s latest financial reports the company's current revenue (TTM) is $5.53 M. The revenue is the total amount of income that a company generates by the sale of goods or services. Unlike with the earnings no expenses are subtracted.
Revenue history of Ocean Power Technologies, Inc.
Annual Revenue
| Year | Revenue | Gross Profit | Ebitda | Income Before Tax | Net Income |
|---|---|---|---|---|---|
| 2024 | $5.53 M | $2.83 M | $-28,242,000 | $-28,737,000 | $-27,483,000 |
| 2023 | $2.73 M | $236 K | $-27,763,000 | $-26,604,000 | $-26,326,000 |
| 2022 | $1.76 M | $-101,000 | $-21,098,000 | $-20,697,000 | $-18,874,000 |
| 2021 | $1.21 M | $-1,073,000 | $-13,443,000 | $-14,760,000 | $-15,845,000 |
| 2020 | $1.68 M | $-105,000 | $-10,892,000 | $-11,247,000 | $-10,352,000 |
| 2019 | $632 K | $-671,000 | $-13,091,000 | $-13,096,000 | $-12,246,000 |
| 2018 | $511 K | $-252,000 | $-11,438,000 | $-11,276,000 | $-10,157,000 |
| 2017 | $843 K | $-95,000 | $-11,547,000 | $-10,184,000 | $-9,486,000 |
| 2016 | $704.82 K | $36.95 K | $-13,649,000 | $-14,758,478 | $-13,128,956 |
| 2015 | $4.11 M | $-565,979 | $-13,321,404 | $-14,361,539 | $-13,114,552 |
| 2014 | $1.5 M | $-11,444 | $-12,515,117 | $-12,936,949 | $-10,969,192 |
| 2013 | $3.62 M | $135.31 K | $-15,817,116 | $-16,276,254 | $-14,681,837 |
| 2012 | $5.74 M | $54.78 K | $-16,120,683 | $-16,243,432 | $-15,140,502 |
| 2011 | $6.69 M | $435.65 K | $-20,924,068 | $-20,822,929 | $-20,435,874 |
| 2010 | $5.1 M | $802.36 K | $-21,262,676 | $-19,132,008 | $-19,170,307 |
| 2009 | $4.05 M | $-790,958 | $-18,392,868 | $-18,315,150 | $-18,315,150 |
| 2008 | $4.77 M | $-3,188,025 | $-19,175,725 | $-14,656,723 | $-14,656,723 |
| 2007 | $2.53 M | $-1,452,427 | $-12,565,900 | $-9,638,765 | $-9,638,765 |
| 2006 | $1.75 M | $-311,603 | $-7,494,155 | $-7,222,874 | $-7,078,911 |
| 2005 | $5.37 M | $194.71 K | $-3,122,831 | $-457,969 | $-428,634 |
| 2004 | $4.71 M | $393.35 K | $-1,608,561 | $-2,967,595 | $-2,849,476 |
| 2003 | $2.55 M | $-6,973 | $-1,006,445 | $-967,058 | $-820,205 |