Ocean Power Technologies, Inc. (OPTT): Business Model Canvas [Jan-2025 Mis à jour]

Ocean Power Technologies, Inc. (OPTT) révolutionne les énergies renouvelables en exploitant l'immense pouvoir des ondes océaniques grâce à sa technologie innovante Powerbuoy. Dans un monde à la recherche de solutions d'énergie durable, Optt est à l'avant-garde des énergies renouvelables marines, transformant le mouvement océanique en électricité propre et fiable qui promet de remodeler la façon dont les communautés côtières et les industries maritimes abordent la production d'électricité. Leur modèle commercial unique combine l'ingénierie de pointe, les partenariats stratégiques et une approche visionnaire pour relever les défis énergétiques mondiaux, faisant de l'énergie des vagues une alternative viable et passionnante à la production d'électricité traditionnelle à base de combustibles fossiles.

Ocean Power Technologies, Inc. (OPTT) - Modèle commercial: partenariats clés

Partenariats stratégiques avec les sociétés d'ingénierie maritime

En 2024, Ocean Power Technologies a établi des partenariats stratégiques avec les sociétés d'ingénierie maritime suivantes:

Entreprise partenaire	Focus de la collaboration	Année de partenariat
Saab Seaeye Limited	Intégration de la technologie de la robotique sous-marine	2022
Teledyne Marine	Technologies de détection marine avancée	2023

Collaboration avec les institutions de recherche sur les énergies renouvelables

OPTT a des collaborations de recherche actives avec les institutions suivantes:

• Centre de recherche sur l'énergie des vagues de l'Université d'État de l'Oregon
• Institut de systèmes énergétiques de l'Université d'Édimbourg
• Laboratoire national des énergies renouvelables (NREL)

Accords avec les sociétés de services publics côtiers

Les partenariats de sociétés actuels comprennent:

Entreprise de services publics	Emplacement	Détails du partenariat
Hawaiian Electric Company	Hawaii	Pilot Wave Energy Project Evaluation
Gaz de San Diego & Électrique	Californie	Évaluation des technologies des énergies renouvelables marines

Contrats de développement conjoints avec les fournisseurs de technologies maritimes

Partenariats de développement de la technologie maritime:

• Oceaneering International - Intégration de la technologie sous-marine
• Kongsberg Maritime - Développement de systèmes marins autonomes
• Groupe BMT - Collaboration de génie maritime et de conception

Investissement total de partenariat: 4,2 millions de dollars en 2023-2024

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: Activités clés

Systèmes de conversion d'énergie des vagues de conception et de fabrication

Ocean Power Technologies, Inc. se concentre sur le développement de la technologie PowerBuoy® pour la production d'énergies renouvelables marines. En 2023, la société a investi 12,4 millions de dollars dans la conception et les capacités de fabrication du système de conversion d'énergie des vagues.

Paramètre de conception	Spécification
Génération PowerBuoy®	Modèle de 5e génération
Investissement annuel de R&D	3,7 millions de dollars
Portfolio de brevets de conception	17 brevets actifs

Recherche et développement des technologies de puissance maritime

La société maintient une équipe de R&D dédiée de 22 ingénieurs spécialisés axés sur l'innovation de la technologie de l'énergie marine.

• Efficacité de conversion de l'énergie maritime: fourchette de 35 à 42%
• Les domaines d'intérêt de la recherche:
  • Dynamique de l'énergie des vagues
  • Électronique électrique
  • Systèmes de durabilité marine

Test et validation des solutions d'énergie océanique renouvelables

Emplacement des tests	Métriques de validation
Installation de test du New Jersey	Validation de conversion d'énergie des vagues
Site d'essai d'énergie des vagues de l'Oregon	Optimisation des performances
Total des heures de test (2023)	2 760 heures

Développement des prototypes et optimisation des performances

Ocean Power Technologies s'est développé 3 prototypes à l'échelle commerciale avec des mesures de performance ciblant la capacité de production d'électricité de 50 kW.

• Coûts de développement des prototypes: 8,2 millions de dollars (2023)
• Métriques d'optimisation des performances:
  • Efficacité de conversion d'énergie: amélioré 22% depuis 2020
  • Amélioration de la durabilité: taux de survie de l'environnement marin à 5 ans

Évaluation de la conformité réglementaire et de l'impact environnemental

Zone de conformité	Détails
Organismes de réglementation	Certifications FERC, BOEM, EPA
Études environnementales	4 rapports d'impact sur les écosystèmes marins complets
Investissement de conformité	1,5 million de dollars (2023)

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: Ressources clés

Powerbuoy Wave Powerbuoy Technology

Ocean Power Technologies possède 3 brevets technologiques de Powerbuoy Core à partir de 2024. La technologie PowerBuoy a été développée avec 47,3 millions de dollars d'investissements cumulatifs en R&D Depuis sa création.

Spécifications technologiques	Détails techniques
Capacité de production d'électricité	Jusqu'à 100 kW par unité PowerBuoy
Plage de profondeur opérationnelle	50-100 mètres au large
Niveau de maturité technologique	Niveau de préparation à la technologie 7

Ingénierie et expertise technique

Optt maintient 12 ingénieurs spécialisés en énergies renouvelables marines au Q4 2023.

Propriété intellectuelle et portefeuille de brevets

• Brevets actifs totaux: 8
• Juridictions de brevet: États-Unis, Union européenne, Japon
• Dépenses de protection des brevets: 1,2 million de dollars par an

Installations de recherche et de test avancées

OPTT fonctionne 2 installations de test maritime primaires:

• Centre de test maritime du New Jersey
• Scottish Wave Energy Research Facility

Talent spécialisé en génie maritime

Catégorie des employés	Nombre de professionnels
Ingénieurs de niveau doctoral	5
Ingénieurs de niveau des maîtres	7
Personnel d'ingénierie total	12

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: propositions de valeur

Génération de l'énergie renouvelable propre à partir des vagues de l'océan

Ocean Power Technologies génère de l'électricité grâce à la technologie Powerbuoy qui convertit l'énergie des ondes océaniques en puissance électrique. Au quatrième trimestre 2023, les systèmes PowerBuoy de la société peuvent générer jusqu'à 100 kW de puissance de pointe provenant de sources d'énergie renouvelables marines.

Spécifications technologiques	Métriques de performance
Puissance de sortie PowerBuoy	100 kW PAEP POWER
Efficacité de conversion d'énergie des vagues	37,5% d'efficacité moyenne
Profondeur de l'eau opérationnelle	50-100 mètres

Alternative durable à l'électricité à base de combustibles fossiles

Ocean Power Technologies propose une solution d'énergie neutre en carbone avec des émissions de gaz à effet de serre directes. Les systèmes électriques marins de l'entreprise réduisent l'empreinte carbone d'environ 90% par rapport aux générateurs diesel traditionnels.

• Réduction des émissions de carbone: 90% de moins que les générateurs diesel
• Potentiel annuel d'évitement de CO2: 250-500 tonnes métriques par système Powerbuoy
• Contribution d'énergie renouvelable: production d'électricité 100% propre

Systèmes de production d'énergie marine évolutifs et modulaires

La conception modulaire de Powerbuoy de l'entreprise permet un déploiement flexible dans divers environnements marins. En 2024, la technologie prend en charge les configurations évolutives de 50 kW à 500 kW de capacité de production d'électricité.

Configuration du système	Gamme de courant	Flexibilité de déploiement
Powerbuoy unique	50-100 kW	Applications côtières et offshore
Multiples baisses PowerBuoy	100-500 kW	Fermes énergétiques marines à grande échelle

Empreinte carbone réduite pour les applications côtières et maritimes

Ocean Power Technologies cible les secteurs maritimes, notamment le pétrole et le gaz offshore, la recherche maritime et la défense côtière avec des solutions de puissance durables. La technologie réduit la consommation de carburant diesel jusqu'à 75% dans les opérations maritimes à distance.

• Réduction du carburant diesel: jusqu'à 75% des applications maritimes
• Économies de coûts opérationnels: dépenses énergétiques estimées de 40 à 60%
• Marchés cibles: infrastructure offshore, recherche maritime, défense côtière

Solution innovante pour les besoins énergétiques à distance et hors réseau

La technologie PowerBuoy fournit une production d'électricité fiable pour les emplacements distants avec un accès limité au réseau. En 2024, le système peut fonctionner en continu avec une disponibilité de 85% dans des environnements marins difficiles.

Métrique de performance	Spécification
Time de disponibilité opérationnel	85%
Plage de température opérationnelle	-10 ° C à 40 ° C
Plage opérationnelle de la hauteur des vagues	1 à 4 mètres

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: relations avec les clients

Ventes techniques directes et soutien

Depuis le quatrième trimestre 2023, Ocean Power Technologies maintient une équipe de vente spécialisée axée sur les solutions marines d'énergie renouvelable. La société compte 7 représentants de ventes techniques dédiés couvrant les régions d'Amérique du Nord, d'Europe et d'Asie-Pacifique.

Région	Nombre de représentants commerciaux	Segments de clientèle principaux
Amérique du Nord	3	Défense maritime, énergie renouvelable offshore
Europe	2	Recherche maritime, infrastructure côtière
Asie-Pacifique	2	Projets de surveillance marine, d'énergie renouvelable

Approche de développement de projets collaboratifs

OPTT utilise un modèle d'engagement collaboratif avec des clients clés, impliquant une consultation technique directe et des processus de développement conjoint.

• Cycle de développement moyen du projet: 12-18 mois
• Gamme d'investissement typique du projet: 500 000 $ - 3 000 000 $
• Nombre de projets collaboratifs actifs en 2023: 6

Services de surveillance et de maintenance des performances en cours

La société fournit une prise en charge complète de surveillance et de maintenance à distance pour les systèmes PowerBuoy déployés.

Catégorie de service	Temps de réponse	Coût du service annuel
Surveillance à distance	24/7 en temps réel	$75,000 - $250,000
Maintenance préventive	48-72 heures	$50,000 - $150,000

Partage des connaissances et transfert de technologie

OPTT met en œuvre des mécanismes de transfert de connaissances structurés avec des institutions de recherche et des partenaires commerciaux.

• Partenariats académiques actifs: 4 universités
• Accords de licence de technologie: 2 contrats actifs
• Budget de collaboration de recherche annuelle: 350 000 $

Consultations de solutions énergétiques personnalisées

La société propose des consultations sur les énergies renouvelables marines sur mesure pour diverses applications industrielles.

Type de consultation	Durée	Frais de consultation
Évaluation initiale	2-4 semaines	$25,000 - $50,000
Étude de faisabilité complète	3-6 mois	$100,000 - $250,000

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: canaux

Équipe de vente directe

Ocean Power Technologies maintient une équipe de vente spécialisée ciblant les secteurs maritimes et offshore des énergies renouvelables. Au quatrième trimestre 2023, la société a déclaré 3 professionnels des ventes dédiés axés sur les marchés de la technologie maritime.

Conférences et expositions de l'industrie

Nom de conférence	Année de participation	Public cible
Conférence de technologie offshore	2023	Professionnels de l'énergie maritime
Exposition d'énergie renouvelable	2023	Investisseurs d'énergie renouvelable

Publications techniques et présentations académiques

• Publié 2 articles techniques dans des revues d'énergie renouvelable marine en 2023
• Présenté à 3 conférences académiques axées sur la technologie de l'énergie des vagues
• Présentation totale de la recherche: environ 500 professionnels techniques

Plateformes en ligne et site Web de l'entreprise

Mesures du site Web de l'entreprise en décembre 2023: Visiteurs mensuels du site Web: 12 500 Pages vues uniques: 24 000 Temps moyen sur le site: 3,2 minutes

Réseaux de référence de partenaire stratégique

Type de partenaire	Nombre de partenaires	Portée du marché potentiel
Entreprises de technologie maritime	5	Marchés mondiaux de l'énergie offshore
Institutions de recherche	3	Réseaux académiques et d'innovation

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: segments de clientèle

Sociétés de services publics côtiers

En 2024, Ocean Power Technologies cible les sociétés de services publics côtières à la recherche de solutions d'énergie marine renouvelables. L'analyse du marché indique:

Région	Clients potentiels des services publics	Investissement annuel des énergies renouvelables
États-Unis	12 sociétés de services publics côtiers	3,2 milliards de dollars
Europe	8 entreprises de services publics côtiers	2,7 milliards de dollars

Développeurs d'énergie maritime et offshore

Segment cible clé avec des exigences spécifiques:

• Opérateurs éoliens offshore
• Compagnies de pétrole et de gaz offshore
• Développeurs d'énergies renouvelables marines

Segment	Nombre de clients potentiels	Taille du marché estimé
Développeurs de vent offshore	24 entreprises mondiales	45,6 milliards de dollars
Énergie renouvelable marin	16 développeurs internationaux	22,3 milliards de dollars

Institutions de recherche gouvernementales

Clients axés sur la recherche intéressés par la technologie de l'énergie marine:

Pays	Nombre d'institutions de recherche	Budget de recherche annuel
États-Unis	7 principaux centres de recherche maritime	128 millions de dollars
Royaume-Uni	5 institutions de recherche sur l'énergie maritime	92 millions de dollars

Communautés côtières éloignées

Les clients potentiels à la recherche de solutions énergétiques durables:

• Communautés insulaires
• Établissements côtiers isolés
• Stations de recherche maritimes

Région	Nombre de communautés	Demande d'énergie potentielle
Îles du Pacifique	42 communautés éloignées	15-25 MW
Région des Caraïbes	38 colonies côtières isolées	12-20 MW

Secteurs des infrastructures marines et de la défense

Segment de marché spécialisé avec des besoins énergétiques uniques:

• Installations de recherche navale
• Stations de surveillance côtière
• Infrastructure de sécurité maritime

Secteur	Clients potentiels	Investissement technologique annuel
Recherche de défense	6 organisations de défense nationale	215 millions de dollars
Sécurité maritime	9 agences de surveillance côtière	167 millions de dollars

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Ocean Power Technologies a déclaré des dépenses de R&D de 3,4 millions de dollars, ce qui représente un investissement important dans le développement des technologies des énergies renouvelables marines.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses totales
2023	3,4 millions de dollars	42.5%
2022	4,1 millions de dollars	47.2%

Fabrication et production de prototypes

Les coûts de fabrication de l'entreprise pour les prototypes de production d'électricité marins en 2023 ont totalisé environ 2,6 millions de dollars.

• Coûts de développement des prototypes: 1,2 million de dollars
• Équipement de fabrication: 850 000 $
• Matériaux et composants: 550 000 $

Entretien de la propriété brevet et intellectuelle

Ocean Power Technologies a dépensé 450 000 $ pour le dépôt, l'entretien et la protection de la propriété intellectuelle des brevets en 2023.

Catégorie de coûts IP	Dépenses annuelles
Dépôt de brevet	$250,000
Entretien de brevets	$150,000
Protection de propriété intellectuelle légale	$50,000

Marketing et développement commercial

Les dépenses de marketing et de développement commercial pour 2023 étaient de 1,1 million de dollars.

• Marketing numérique: 350 000 $
• Participation de la conférence et des salons commerciaux: 250 000 $
• Dépenses de l'équipe de vente: 500 000 $

Frais généraux opérationnels et administratifs

Les frais généraux opérationnels et administratifs totaux pour 2023 s'élevaient à 2,5 millions de dollars.

Catégorie aérienne	Dépenses annuelles
Salaires et avantages	1,8 million de dollars
Installations de bureau	$400,000
Infrastructure technologique	$300,000

Ocean Power Technologies, Inc. (OPTT) - Modèle d'entreprise: Strots de revenus

Vente de systèmes de conversion d'énergie des vagues

Au quatrième trimestre 2023, Ocean Power Technologies a déclaré un chiffre d'affaires total de 1,24 million de dollars, avec un minimum de ventes de systèmes de conversion d'énergie des vagues.

Type de produit	Prix ​​unitaire moyen	Ventes annuelles estimées
Systèmes PowerBuoy	750 000 $ - 1,2 million de dollars	1-2 unités par an

Accords de licence de technologie

OPTT a un revenu limité en matière de licences technologiques, sans aucun revenu de licence divulgué spécifique pour 2023-2024.

Contrats de production d'énergie basés sur les performances

Aucun contrat de production d'énergie basé sur les performances confirmé à partir de 2024.

Subventions gouvernementales et de recherche

Source d'octroi	Montant d'octroi	Année
Département américain de l'énergie	$500,000	2022

Services de conseil et de support technique

• Revenus de consultation annuels estimés: 200 000 $ - 350 000 $
• Services de soutien technique axés sur les énergies renouvelables marines

Revenus totaux de l'entreprise (2023): 1,24 million de dollars

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.