Ocean Power Technologies, Inc. (OPTT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Ocean Power Technologies, Inc. (OPTT) está revolucionando la energía renovable al aprovechar el inmenso poder de las olas oceánicas a través de su innovadora tecnología PowerBuoy. En un mundo que busca cada vez más soluciones de energía sostenible, Optt está a la vanguardia de la energía renovable marina, transformando el movimiento oceánico en electricidad limpia y confiable que promete remodelar cómo las comunidades costeras y las industrias marítimas se acercan a la generación de energía. Su modelo de negocio único combina ingeniería de vanguardia, asociaciones estratégicas y un enfoque visionario para abordar los desafíos de energía global, lo que hace que la energía de las olas sea una alternativa viable y emocionante a la generación de electricidad basada en combustibles fósiles tradicionales.

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con empresas de ingeniería marina

A partir de 2024, Ocean Power Technologies ha establecido asociaciones estratégicas con las siguientes empresas de ingeniería marina:

Empresa asociada	Enfoque de colaboración	Año de asociación
Saab Seaeye Limited	Integración de tecnología de robótica submarina	2022
Marine de Teledyne	Tecnologías avanzadas de detección marina	2023

Colaboración con instituciones de investigación de energía renovable

OPTT tiene colaboraciones de investigación activas con las siguientes instituciones:

• Centro de Investigación de Energía de la Oava de la Universidad Estatal de Oregon
• Instituto de Sistemas de Energía de la Universidad de Edimburgo
• Laboratorio Nacional de Energía Renovable (NREL)

Acuerdos con compañías de servicios costeros

Las asociaciones actuales de la empresa de servicios públicos incluyen:

Empresa de servicios públicos	Ubicación	Detalles de la asociación
Compañía eléctrica hawaiana	Hawai	Evaluación del proyecto de energía piloto de onda
Gas de San Diego & Eléctrico	California	Evaluación de tecnología de energía renovable marina

Contratos de desarrollo conjunto con proveedores de tecnología marítima

Asociaciones de desarrollo de tecnología marítima:

• Oceaneering International - Integración de tecnología submarina
• Kongsberg Maritime - Desarrollo de sistemas marinos autónomos
• BMT Group - Ingeniería Marina y colaboración de diseño

Inversión total de asociación: $ 4.2 millones en 2023-2024

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocio: actividades clave

Diseño y fabricación de sistemas de conversión de energía de onda

Ocean Power Technologies, Inc. se centra en el desarrollo de la tecnología PowerBuoy® para la generación de energía renovable marina. A partir de 2023, la compañía ha invertido $ 12.4 millones en el diseño del sistema de conversión de energía de olas y capacidades de fabricación.

Parámetro de diseño	Especificación
Generación PowerBuoy®	Modelo de quinta generación
Inversión anual de I + D	$ 3.7 millones
Cartera de patentes de diseño	17 patentes activas

Investigación y desarrollo de tecnologías de energía marina

La compañía mantiene un equipo dedicado de I + D de 22 ingenieros especializados que se centran en la innovación de la tecnología de energía marina.

• Eficiencia de conversión de energía marina: rango de 35-42%
• Áreas de enfoque de investigación:
  • Dinámica de la energía de las olas
  • Electrónica de potencia
  • Sistemas de durabilidad marina

Prueba y validación de soluciones de energía oceánica renovables

Ubicación de prueba	Métricas de validación
Instalación de prueba de Nueva Jersey	Validación de conversión de energía de onda
Sitio de prueba de energía de onda de Oregon	Optimización del rendimiento
Horas de prueba totales (2023)	2.760 horas

Desarrollo prototipo y optimización del rendimiento

Ocean Power Technologies se ha desarrollado 3 prototipos a escala comercial con métricas de rendimiento dirigidas a la capacidad de generación de energía de 50 kW.

• Costos de desarrollo de prototipos: $ 8.2 millones (2023)
• Métricas de optimización de rendimiento:
  • Eficiencia de conversión de energía: mejorado 22% desde 2020
  • Mejora de la durabilidad: tasa de supervivencia del medio ambiente marino a 5 años

Cumplimiento regulatorio y evaluaciones de impacto ambiental

Área de cumplimiento	Detalles
Cuerpos reguladores	FERC, BOEM, Certificaciones de la EPA
Estudios ambientales	4 Informes integrales de impacto del ecosistema marino
Inversión de cumplimiento	$ 1.5 millones (2023)

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: recursos clave

Tecnología de Energía PowerBuoy Wave PowerBuoy

Ocean Power Technologies posee 3 patentes de tecnología PowerBuoy de 3 centrales A partir de 2024. La tecnología PowerBuoy se ha desarrollado con $ 47.3 millones en inversiones acumulativas de I + D desde su inicio.

Especificación tecnológica	Detalle técnico
Capacidad de generación de energía	Hasta 100 kW por unidad PowerBuoy
Rango de profundidad operativa	50-100 metros en alta mar
Nivel de madurez tecnológico	Nivel de preparación tecnológica 7

Ingeniería y experiencia técnica

Optt mantiene 12 ingenieros especializados de energía renovable marina A partir del cuarto trimestre 2023.

Propiedad intelectual y cartera de patentes

• Patentes activas totales: 8
• Jurisdicciones de patentes: Estados Unidos, Unión Europea, Japón
• Gasto de protección de patentes: $ 1.2 millones anuales

Instalaciones avanzadas de investigación y prueba

Optt opera 2 Instalaciones de pruebas marinas primarias:

• Centro de pruebas marinas de Nueva Jersey
• Instalación de investigación de energía de olas escocesas

Talento especializado de ingeniería marina

Categoría de empleado	Número de profesionales
Ingenieros de nivel de doctorado	5
Ingenieros de nivel de maestría	7
Personal de ingeniería total	12

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocio: propuestas de valor

Generación de energía limpia y renovable a partir de olas oceánicas

Las tecnologías de energía oceánica genera electricidad a través de la tecnología PowerBuoy que convierte la energía de las olas oceánicas en energía eléctrica. A partir del cuarto trimestre de 2023, los sistemas PowerBuoy de la compañía pueden generar hasta 100 kW de potencia máxima a partir de fuentes de energía renovable marina.

Especificación tecnológica	Métricas de rendimiento
Potencia de potencia de PowerBuoy	Potencia máxima de 100 kW
Eficiencia de conversión de energía de onda	37.5% Eficiencia promedio
Profundidad del agua operativa	50-100 metros

Alternativa sostenible a la electricidad a base de combustibles fósiles

Ocean Power Technologies ofrece una solución de energía neutral en carbono con cero emisiones directas de gases de efecto invernadero. Los sistemas de energía marina de la compañía reducen la huella de carbono en un 90% estimado en comparación con los generadores diesel tradicionales.

• Reducción de la emisión de carbono: 90% más bajo que los generadores diesel
• Potencial anual de evitación de CO2: 250-500 toneladas métricas por sistema PowerBuoy
• Contribución de energía renovable: generación de electricidad 100% limpia

Sistemas de generación de energía marina escalable y modular

El diseño modular de PowerBuoy de la compañía permite una implementación flexible en varios entornos marinos. A partir de 2024, la tecnología admite configuraciones escalables de capacidad de generación de energía de 50 kW a 500 kW.

Configuración del sistema	Rango de potencia	Flexibilidad de implementación
Powerbuoy	50-100 kW	Aplicaciones costeras y en alta mar
Múltiple matriz PowerBuoy	100-500 kW	Granjas de energía marina a gran escala

Fuiósion de carbono reducido para aplicaciones costeras y marítimas

Las tecnologías de energía oceánica se dirigen a los sectores marítimos que incluyen petróleo y gas en alta mar, investigación marina y defensa costera con soluciones de energía sostenible. La tecnología reduce el consumo de combustible diesel en hasta un 75% en operaciones marítimas remotas.

• Reducción de combustible diesel: hasta el 75% en aplicaciones marítimas
• Ahorros de costos operativos: gastos de energía estimados de 40-60% más bajos
• Mercados objetivo: infraestructura offshore, investigación marina, defensa costera

Solución innovadora para necesidades de energía remota y fuera de la red

La tecnología PowerBuoy proporciona una generación de electricidad confiable para ubicaciones remotas con acceso limitado a la red. A partir de 2024, el sistema puede funcionar continuamente con un tiempo de actividad del 85% en entornos marinos desafiantes.

Métrico de rendimiento	Especificación
Tiempo de actividad operativo	85%
Rango de temperatura operativa	-10 ° C a 40 ° C
Rango operativo de altura de ola	1-4 metros

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: relaciones con los clientes

Ventas técnicas directas y soporte

A partir del cuarto trimestre de 2023, Ocean Power Technologies mantiene un equipo de ventas especializado centrado en soluciones de energía renovable marina. La compañía tiene 7 representantes de ventas técnicas dedicadas que cubren las regiones de América del Norte, Europa y Asia-Pacífico.

Región	Número de representantes de ventas	Segmentos principales de clientes
América del norte	3	Defensa marítima, energía renovable en alta mar
Europa	2	Investigación marina, infraestructura costera
Asia-Pacífico	2	Monitoreo marino, proyectos de energía renovable

Enfoque de desarrollo de proyectos colaborativos

OPTT utiliza un modelo de participación colaborativa con clientes clave, que implican consultas técnicas directas y procesos de desarrollo conjunto.

• Ciclo promedio de desarrollo de proyectos: 12-18 meses
• Rango típico de inversión del proyecto: $ 500,000 - $ 3,000,000
• Número de proyectos colaborativos activos en 2023: 6

Servicios continuos de monitoreo y mantenimiento

La compañía proporciona soporte integral de monitoreo y mantenimiento remoto para sistemas implementados de PowerBuoy.

Categoría de servicio	Tiempo de respuesta	Costo de servicio anual
Monitoreo remoto	24/7 en tiempo real	$75,000 - $250,000
Mantenimiento preventivo	48-72 horas	$50,000 - $150,000

Intercambio de conocimientos y transferencia de tecnología

OPTT implementa mecanismos estructurados de transferencia de conocimiento con instituciones de investigación y socios comerciales.

• Asociaciones académicas activas: 4 universidades
• Acuerdos de licencia de tecnología: 2 contratos activos
• Presupuesto de colaboración de investigación anual: $ 350,000

Consultas de soluciones energéticas personalizadas

La compañía ofrece consultas de energía renovable marina a medida para diversas aplicaciones industriales.

Tipo de consulta	Duración	Tarifa de consulta
Evaluación inicial	2-4 semanas	$25,000 - $50,000
Estudio de viabilidad integral	3-6 meses	$100,000 - $250,000

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: canales

Equipo de ventas directas

Ocean Power Technologies mantiene un equipo de ventas especializado dirigido a sectores de energía renovable marítima y marítima. A partir del cuarto trimestre de 2023, la compañía reportó 3 profesionales de ventas dedicados centrados en los mercados de tecnología marina.

Conferencias y exposiciones de la industria

Nombre de conferencia	Año de participación	Público objetivo
Conferencia de tecnología en alta mar	2023	Profesionales de la energía marítima
Expo de energía renovable	2023	Inversores de energía renovable

Publicaciones técnicas y presentaciones académicas

• Publicado 2 artículos técnicos en revistas de energía renovable marina en 2023
• Presentado en 3 conferencias académicas centradas en la tecnología de energía de las olas
• Alcance de la presentación de investigación total: aproximadamente 500 profesionales técnicos

Plataformas en línea y sitio web de la empresa

Métricas del sitio web de la compañía a diciembre de 2023: Visitantes mensuales del sitio web: 12,500 Vistas de página únicas: 24,000 Tiempo promedio en el sitio: 3.2 minutos

Redes de referencia de socios estratégicos

Tipo de socio	Número de socios	Alcance del mercado potencial
Empresas de tecnología marina	5	Mercados mundiales de energía en alta mar
Instituciones de investigación	3	Redes académicas e de innovación

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: segmentos de clientes

Compañías de servicios costeros

A partir de 2024, Ocean Power Technologies se dirige a compañías de servicios costeros que buscan soluciones de energía marina renovables. El análisis de mercado indica:

Región	Clientes potenciales de servicios públicos	Inversión anual de energía renovable
Estados Unidos	12 compañías de servicios costeros	$ 3.2 mil millones
Europa	8 compañías de servicios costeros	$ 2.7 mil millones

Desarrolladores de energía marítimos y en alta mar

Segmento de destino clave con requisitos específicos:

• Operadores de parques eólicos en alta mar
• Compañías de petróleo y gas en alta mar
• Desarrolladores de energía renovable marina

Segmento	Número de clientes potenciales	Tamaño estimado del mercado
Desarrolladores eólicos en alta mar	24 empresas globales	$ 45.6 mil millones
Energía renovable marina	16 desarrolladores internacionales	$ 22.3 mil millones

Instituciones de investigación gubernamentales

Clientes centrados en la investigación interesados ​​en la tecnología de energía marina:

País	Número de instituciones de investigación	Presupuesto de investigación anual
Estados Unidos	7 principales centros de investigación marina	$ 128 millones
Reino Unido	5 Instituciones de investigación de energía marina	$ 92 millones

Comunidades costeras remotas

Clientes potenciales que buscan soluciones de energía sostenible:

• Comunidades isleñas
• Asentamientos costeros aislados
• Estaciones de investigación marina

Región	Número de comunidades	Demanda de energía potencial
Islas del Pacífico	42 comunidades remotas	15-25 MW
Región caribeña	38 asentamientos costeros aislados	12-20 MW

Sectores de infraestructura marina y defensa

Segmento de mercado especializado con requisitos de energía únicos:

• Instalaciones de investigación naval
• Estaciones de monitoreo costeras
• Infraestructura de seguridad marítima

Sector	Clientes potenciales	Inversión tecnológica anual
Investigación de defensa	6 organizaciones de defensa nacional	$ 215 millones
Seguridad marítima	9 agencias de monitoreo costero	$ 167 millones

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Ocean Power Technologies informó gastos de I + D de $ 3.4 millones, lo que representa una inversión significativa en el desarrollo de la tecnología de energía renovable marina.

Año fiscal	Gastos de I + D	Porcentaje de gastos totales
2023	$ 3.4 millones	42.5%
2022	$ 4.1 millones	47.2%

Fabricación y producción de prototipos

Los costos de fabricación de la compañía para los prototipos de generación de energía marina en 2023 totalizaron aproximadamente $ 2.6 millones.

• Costos de desarrollo prototipo: $ 1.2 millones
• Equipo de fabricación: $ 850,000
• Materiales y componentes: $ 550,000

Mantenimiento de patentes e propiedad intelectual

Ocean Power Technologies gastó $ 450,000 en presentación de patentes, mantenimiento y protección de propiedad intelectual en 2023.

Categoría de costos de IP	Gasto anual
Presentación de patentes	$250,000
Mantenimiento de patentes	$150,000
Protección legal de IP	$50,000

Marketing y desarrollo de negocios

Los gastos de marketing y desarrollo comercial para 2023 fueron de $ 1.1 millones.

• Marketing digital: $ 350,000
• Conferencia y participación de ferias comerciales: $ 250,000
• Gastos del equipo de ventas: $ 500,000

Gastos generales operativos y administrativos

La sobrecarga operativa y administrativa total para 2023 ascendió a $ 2.5 millones.

Categoría de gastos generales	Gasto anual
Salarios y beneficios	$ 1.8 millones
Instalaciones de oficina	$400,000
Infraestructura tecnológica	$300,000

Ocean Power Technologies, Inc. (OPTT) - Modelo de negocios: flujos de ingresos

Venta de sistemas de conversión de energía de olas

A partir del cuarto trimestre de 2023, Ocean Power Technologies reportó ingresos totales de $ 1.24 millones, con ventas mínimas de sistemas de conversión de energía de olas.

Tipo de producto	Precio unitario promedio	Ventas anuales estimadas
Sistemas de PowerBuoy	$ 750,000 - $ 1.2 millones	1-2 unidades por año

Acuerdos de licencia de tecnología

OPTT tiene ingresos de licencia de tecnología limitada, sin ingresos de licencia divulgados específicos para 2023-2024.

Contratos de generación de energía basados ​​en el rendimiento

No hay contratos de generación de energía basados ​​en el rendimiento confirmados a partir de 2024.

Subvenciones del gobierno y la investigación

Fuente de subvenciones	Monto de subvención	Año
Departamento de Energía de los Estados Unidos	$500,000	2022

Servicios de consultoría y soporte técnico

• Ingresos de consultoría anuales estimados: $ 200,000 - $ 350,000
• Servicios de soporte técnico centrados en la energía renovable marina

Ingresos totales de la compañía (2023): $ 1.24 millones

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Value Propositions

Persistent, low-carbon electric power for remote maritime operations.

• PowerBuoy® platforms provide clean and reliable electric power for remote maritime and subsea applications.
• A single OPT PowerBuoy can monitor more than 1,600 square miles of ocean surface.
• FY2025 revenues reached $5.9 million, reflecting increased demand for these solutions.

Real-time Maritime Domain Awareness (MDA) and data communications.

• Merrows™ provides AI-capable seamless integration of Maritime Domain Awareness (MDA) Systems across platforms.
• PowerBuoy systems deliver real-time data communications.
• A PowerBuoy deployment for the Naval Postgraduate School integrates AT&T® 5G technology for seamless MDA.
• WAM-V demonstrated real-time hydrographic and survey data collection over several days.

Order-of-magnitude cost savings versus traditional manned vessel operations.

• WAM-V multi-day operations reduce ancillary costs by eliminating the need for a crew to recover nightly.
• The company is positioned as a provider of cost-effective low-carbon marine power, data, and service solutions.
• OPT secured a $3 million reseller agreement in Mexico to expand reach through integrated sales.

Integrated, multi-asset solutions (PowerBuoy, WAM-V, Merrows AI).

Asset Component	Key Metric/Deployment Data
PowerBuoy®	AI-enabled Merrows™ PowerBuoy® completed for shipment to the Middle East.
WAM-V® ASVs	Two WAM-V® USVs shipped to Remah International Group (RIG) in the UAE (September 2025).
Merrows™ AI	AI-capable for seamless MDA integration.
Integrated Systems	Backlog increased 155% to $12.5 million as of April 30, 2025.

Reduced operational risk and carbon emissions for offshore activities.

• WAM-V multi-day operations materially remove people out of the loop, which starts reducing carbon emissions by avoiding steaming with support boats.
• OPT is a leader in low-carbon marine power, data, and service solutions.
• The company secured a U.S. Department of Defense Facility Security Clearance, bolstering eligibility for classified programs.
• Operating expenses for FY25 decreased 28% to $23.3 million versus $32.2 million in FY24.

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Customer Relationships

You're looking at how Ocean Power Technologies, Inc. (OPTT) manages its key customer interactions as they scale up from technology demonstration to commercial deployment. It's a mix of direct government engagement and leveraging partners to cover global ground.

Dedicated account management for defense and government agencies

The relationship with defense and government customers is clearly a high-touch area, evidenced by strategic operational milestones. Ocean Power Technologies, Inc. secured a Facility Security Clearance from the U.S. Department of Defense during Fiscal Year 2025, which definitely signals a deeper level of engagement and eligibility for classified programs. This focus is reflected in the order book; the backlog, which includes orders from governmental customers, reached a record $12.5 million as of April 30, 2025, representing a 158% year-over-year increase. By July 31, 2025, this backlog grew further to $15.0 million, a 184% increase over the prior year's first quarter. Also, Ocean Power Technologies, Inc. was awarded a contract for multiple WAM-V® systems for delivery to certain Allied Forces in late Spring 2025. The terms of this specific defense contract were not disclosed due to the sensitive nature of the relationship.

Channel-driven model relying on regional reseller and distributor networks

To achieve global reach without a massive direct sales force, Ocean Power Technologies, Inc. leans heavily on channel partners. This strategy is actively being executed with concrete financial commitments. For instance, they signed a $3 million reseller agreement with a Latin America-based partner focused on the Mexican offshore and maritime markets, which includes a $3 million purchase commitment for WAM-V® Unmanned Surface Vehicles. Furthermore, the company formed exclusive distribution and integration alliances with Remah International Group (UAE) and Unique Group to expand WAM-V® deployments across the GCC region. This channel focus is a key part of their strategy to scale through high-impact regional partnerships.

Here's a quick look at the channel activity around the close of FY2025:

Partner/Region	Agreement Type/Commitment	Product Focus	Date Context
Mexican Engineering Firm	$3 million Purchase Commitment	WAM-V® Systems	July 2025
Remah International Group (UAE)	Exclusive Distribution/Integration Alliance	Defense and Security Markets	FY2025
Unique Group (GCC)	Exclusive Distribution/Integration Alliance	WAM-V® Deployments	FY2025

Collaborative R&D and demonstration projects (e.g., Naval Postgraduate School)

Collaborative projects serve as high-profile demonstrations that transition directly into revenue-generating relationships. Ocean Power Technologies, Inc. completed the deployment of its PowerBuoy® system, integrated with AT&T® 5G technology and the Merrows™ suite, for the U.S. Naval Postgraduate School (NPS) in Monterey Bay. The CEO noted excitement to move into the lease phase of this contract following the successful installation in July 2025. This deployment is designed to support defense, security, and research missions, allowing future customers to evaluate the technology as a critical asset for maritime security.

Long-term lease and service agreements for recurring revenue

The shift toward recurring revenue streams is a stated focus. You can see this manifesting in service contracts and leasing arrangements. The company reported signing its first service contract for multi-year support services for vehicles, which was noted in the context of preliminary results released in December 2024. More recently, Ocean Power Technologies, Inc. expanded its partnership with UAE-based Unique Group through a Master Services Agreement that includes the immediate leasing of a WAM-V 22, explicitly positioning this for a scalable path to recurring revenue and revenue sharing. The company's overall FY2025 revenues were $5.9 million, a 6% increase over FY2024 revenues of $5.5 million, showing the initial conversion of these activities.

Key metrics related to future revenue visibility:

• Pipeline as of July 31, 2025: $133.5 million.
• Backlog at July 31, 2025: $15.0 million.
• FY2025 Revenues: $5.9 million.

Finance: draft 13-week cash view by Friday.

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Channels

You're looking at how Ocean Power Technologies, Inc. (OPTT) gets its intelligent maritime solutions-like the PowerBuoy and WAM-V-into the hands of defense agencies and commercial clients as of late 2025. The channels are clearly segmented between direct government engagement and leveraging a growing international partner network.

Direct Sales to U.S. and International Defense/Security Agencies

The focus on defense is concrete, evidenced by operational milestones and certifications. Ocean Power Technologies, Inc. secured a U.S. Department of Defense Facility Security Clearance, which is a necessary step for engaging in classified programs. You see this direct channel activity reflected in the backlog growth; the backlog at April 30, 2025, reached a record $12.5 million, representing a 158% increase over the prior year's $4.9 million at April 30, 2024. This backlog includes unfilled firm written orders from governmental customers. Furthermore, Ocean Power Technologies, Inc. secured a new contract with an international defense agency specifically to demonstrate multiple WAM-V Unmanned Surface Vehicles. The company also strengthened its sales team in March 2025 by adding a dedicated executive focused on the Department of Homeland Security (DHS) and Department of Defense (DOD) sectors.

The company continuously ships systems and solutions to its customers, both domestic and overseas. A specific example of a domestic channel success is the completion of a U.S. Naval Postgraduate School project featuring the AI-enabled Merrows PowerBuoy technology.

Global Network of Regional Resellers and Integration Partners

Ocean Power Technologies, Inc. is actively scaling its global reseller network, which is a key channel for international market penetration. In late 2024, the company appointed Remah International Group (RIG) as its distributor for defense and security solutions in the UAE. RIG, which partners with industry-leading solution providers like Red Cat and SAAB, operates through a locally owned group of 48 companies in the UAE. This partnership was used to showcase capabilities at NAVDEX 2025. Also, in Latin America, Ocean Power Technologies, Inc. signed a $3 million reseller agreement with a leading Mexican engineering firm to expand reach across Central America.

The impact of these partnerships is visible in the order book. The backlog as of January 31, 2025 (Q3 FY25), which stood at $7.5 million, was primarily driven by a new partner in Latin America.

Direct Leasing and Sales of PowerBuoy and WAM-V Platforms

Sales and orders for the core platforms are being recognized through these channels. The backlog at April 30, 2025, reflects a healthy mix of PowerBuoy, WAM-V vehicles, and related services. You can see the specific platform order values contributing to the Q3 FY25 backlog:

Platform/Product	Purchase Order Value (Q3 FY25 Backlog Driver)
Next Generation PowerBuoys	$2.0 million
WAM-V Purchase Orders	$3.0 million

The company also reported receiving multi-million-dollar orders for PowerBuoy and WAM-V systems from customers in Latin America, with deliveries scheduled to span several quarters.

Participation in Key Defense Exhibitions like NAVDEX 2025

Exhibitions serve as a critical channel for generating leads, demonstrating capabilities, and solidifying partnerships. Ocean Power Technologies, Inc. successfully demonstrated its WAM-V Unmanned Surface Vehicles and Next Generation PowerBuoy at NAVDEX 2025 in Abu Dhabi, partnering with RIG. The company also exhibited at ADIPED for commercial customers. Looking ahead from the Q3 FY25 report, the team planned for further outreach:

• Speaking at defense and security meetings in the Pacific.
• Participating in a trade mission to Southeast Asia in March.
• Exhibiting systems at CS: Space in Washington D.C. in early April.

These events are designed to accelerate the adoption of autonomous ocean security services in the regions targeted.

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Customer Segments

You're looking at the core groups Ocean Power Technologies, Inc. (OPTT) sells its intelligent maritime solutions to as of late 2025. This isn't just about who buys the product; it's about where the confirmed orders and the big potential pipeline dollars are coming from.

Defense and Security (U.S. DoD, international naval markets)

This segment appears to be a major driver of near-term revenue visibility. Ocean Power Technologies, Inc. secured a contract in May 2025 to deliver multiple WAM-V® Unmanned Surface Vehicles, complete with integrated sensors and operators, under a contractor-owned contractor-operated (COCO) model for an international defense customer, with deliveries scheduled for late Spring 2025. The terms of this specific agreement were not disclosed due to its sensitive nature. Ocean Power Technologies, Inc. also announced securing a new contract in Fiscal Year 2025 to demonstrate multiple WAM-V® systems to an international defense agency. Furthermore, the company achieved a U.S. Department of Defense Facility Security Clearance, which definitely bolsters its eligibility for future U.S. Government contracts. The company's success builds on prior commercial wins for its WAM-V® and PowerBuoy® systems across North America, Latin America, and the Middle East for applications like Maritime Domain Awareness and Mine Counter Measure Solutions. The CEO noted that these systems act as a cost-efficient force multiplier for surface and seabed warfare efforts for the U.S. Government and other Allied Forces.

The company's overall financial health reflects this focus:

• Backlog at April 30, 2025, was $12.5 million, a 158% increase over the prior year.
• The overall pipeline of potential projects stood at $137.5 million as of the July 24, 2025 release.
• Revenues for Fiscal Year 2025 reached $5.9 million, a 6% increase year-over-year.

Oil and Gas/Offshore Energy companies

Ocean Power Technologies, Inc. targets the Oil and Gas market as one of its four core operational areas. The PowerBuoy® platforms are positioned to provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications, which is exactly what offshore platforms need for sensors and autonomous vehicles. While the company has this segment listed, the concrete financial data tied specifically to Oil and Gas contracts in FY2025 is bundled into the overall backlog and revenue figures. You should note that the company divested its non-core strategic consulting team to focus more heavily on product commercialization, particularly for national security and defense markets, as of late 2023.

Science and Research institutions (e.g., Naval Postgraduate School)

This segment shows concrete, high-value engagement. Ocean Power Technologies, Inc. completed a deployment of a PowerBuoy® equipped with its Merrows™ suite to the U.S. Naval Postgraduate School for persistent maritime surveillance research. This specific system integrated AT&T® 5G technology and advanced subsea sensors. Also, the company has received multiple contracts from the National Oceanic and Atmospheric Administration (NOAA) for uncrewed maritime systems services and scientific hardware delivery, training, and integration. These deployments support the company's stated goal of providing persistent and resident monitoring for research applications.

Offshore Wind and Aquaculture industries

The Offshore Wind and Aquaculture sectors are listed as key markets for the company's intelligent maritime solutions, which aim to enable safer, cleaner, and more productive ocean operations. For Aquaculture, the technology could power offshore fish farms, supporting automated feeding systems and monitoring equipment. In the Offshore Wind space, the solutions are positioned for integrating wave energy systems into national grids as part of clean energy initiatives. A strategic reseller agreement signed with a leading Mexican engineering firm for $3 million in purchase commitments is intended to expand reach across Central America through integrated sales, which covers energy and commercial markets in that region.

Here's a quick look at how the confirmed business activity maps across the key segments as of the end of FY2025:

Customer Segment	Key 2025 Activity/Metric	Associated Financial Data Point
Defense and Security	Awarded contract for multiple WAM-V®s to Allied Forces (May 2025)	Contributes to $12.5 million Backlog (April 30, 2025)
Science and Research	Completed PowerBuoy® deployment with Naval Postgraduate School	Contributes to $5.9 million FY25 Revenue
Oil and Gas/Offshore Energy	Targeted market for PowerBuoy® remote power/data solutions	Pipeline stands at $137.5 million (July 2025)
Offshore Wind/Aquaculture	Targeted market for clean energy/sustainable farm power	New reseller agreement includes a $3 million purchase commitment in related markets

The company is actively expanding its presence in Latin America, evidenced by multi-million-dollar orders and a $3 million reseller agreement in that region, which serves all these end-markets.

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Cost Structure

You're looking at the cost side of Ocean Power Technologies, Inc. (OPTT) for fiscal year 2025 (FY25), which ended April 30, 2025. The story here is one of deliberate cost containment while scaling up sales efforts.

The headline figure for overhead control is the total Operating Expenses, which were $23.3 million in FY25. That's a significant 28% reduction compared to the $32.2 million recorded in fiscal year 2024. This streamlining was a key driver in narrowing the net loss to $21.5 million for FY25 from $27.5 million the prior year. It definitely reflects a focus on lean execution. The net cash used in operating activities also improved substantially, dropping to approximately $18.6 million for FY25 from $29.8 million in FY24.

For the costs directly tied to delivering the product, we look at the Cost of Revenue, which is essentially the Manufacturing and assembly costs for hardware platforms and associated services. With FY25 revenues at $5.9 million and a gross profit of $1.7 million, the Cost of Revenue (COGS) comes out to $4.2 million ($5.9 million Revenue minus $1.7 million Gross Profit). This figure represents the direct costs associated with shipping platforms like the AI-enabled Merrows™ PowerBuoy® and WAM-V® Unmanned Surface Vehicles.

Here is a quick snapshot of the key cost and expense metrics for Ocean Power Technologies, Inc. for the fiscal year ended April 30, 2025:

Cost/Expense Category	FY25 Amount (in millions)	FY24 Amount (in millions)
Total Operating Expenses	$23.3	$32.2
Cost of Revenue (Implied COGS)	$4.2	(Calculated from $1.7M Gross Profit on $5.9M Revenue)
Net Cash Used in Operating Activities	$18.6	$29.8

The reduction in the overall Operating Expenses is where the Sales, General, and Administrative (SG&A) costs for global expansion and R&D live. While the specific breakdown between SG&A and Research & Development isn't itemized here, the overall 28% cut suggests management has been aggressive in managing overhead. The context suggests that Reduced R&D expenditure following commercialization phase completion is a factor, as the company shifts focus from pure development to deployment and sales execution. The signing of a $3 million reseller agreement with a Mexican engineering firm, plus multi-million-dollar orders in Latin America and the Middle East, shows that SG&A spending is being directed toward building out the sales channel.

The costs associated with maintaining the global reseller and MRO (Maintenance, Repair, and Overhaul) network are embedded within the operating expenses, likely under SG&A or service delivery costs. Given the expansion into Central America and new defense contracts, these costs are necessary to support the record backlog of $12.5 million as of April 30, 2025. You'll want to watch the Q1 FY26 results, which showed WAM-V® Product Line revenue at $1,105,000 for the quarter ending July 31, 2025, to see if the cost structure supports the revenue generated from these new channel partners.

The company is clearly operating under a leaner structure, but the cost base remains high relative to current revenue, which is typical for a company executing on a large pipeline-the pipeline stood at $137.5 million as of mid-2025. Finance: draft 13-week cash view by Friday.

Ocean Power Technologies, Inc. (OPTT) - Canvas Business Model: Revenue Streams

You're looking at Ocean Power Technologies, Inc. (OPTT) and trying to map out exactly where the money is coming from, which is smart because the revenue mix is shifting. For the fiscal year ended April 30, 2025 (FY25), the total revenue came in at $5.9 million. That's a modest 6% increase compared to the $5.5 million they booked in FY24. Honestly, the top-line growth is less exciting than the massive jump in their committed future work.

Here's a quick snapshot of the key financial figures as of late 2025, giving you the context for these revenue streams:

Metric	Amount	Date/Period
FY25 Total Revenue	$5.9 million	Year Ended April 30, 2025
FY24 Total Revenue	$5.5 million	Fiscal Year 2024
Year-over-Year Revenue Growth	6%	FY25 vs FY24
Contract Backlog	$12.5 million	As of April 30, 2025
Backlog Increase	158%	Year-over-Year
Sales Pipeline	$137.5 million	As of July 2025

The revenue streams are definitely diversifying beyond just selling hardware. The core product sales of the PowerBuoy® and the WAM-V® Unmanned Surface Vehicles (USVs) are a major component. We see evidence of this continuing into the next fiscal period; for instance, the WAM-V® Product Line alone generated $1,105,000 in revenue for the first quarter of fiscal 2026, which ended July 31, 2025. This shows you the hardware sales are still active.

Beyond the initial sale, you need to account for recurring or near-recurring income. Leasing and rental income from the WAM-V® USVs is a recognized stream, often tied to demonstration contracts or short-term deployments, which helps smooth out the lumpy nature of large system sales. Also, the company is increasingly focused on services revenue from marine robotics and data solutions. This includes the integration of proprietary suites like Merrows™ and support for deployments in defense and surveillance roles, which often carry a service component.

The real story for future revenue is the backlog. You're looking at future revenue from the $12.5 million backlog as of April 30, 2025. That backlog represents firm, written orders for products and services, and it's a massive 158% jump from the prior year. This future revenue is supported by significant contractual wins; for example, a reseller agreement signed in FY25 was valued at $3 million, which is now baked into that forward-looking number. The management team is clearly banking on converting that record backlog, along with the even larger $137.5 million sales pipeline, into realized revenue over the coming quarters.

You should track the mix within that backlog, as it reportedly contains a healthy balance of:

• Next Generation PowerBuoys® orders.
• WAM-V® purchase orders.
• Associated services contracts.

Finance: draft 13-week cash view by Friday.