Ocean Power Technologies Files Q1 FY25 10-Q
Ticker: OPTT · Form: 10-Q · Filed: Sep 16, 2024 · CIK: 1378140
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: OPTT
TL;DR
OPT's Q1 FY25 10-Q is in: check financials for the latest quarter ending July 31, 2024.
AI Summary
Ocean Power Technologies, Inc. filed a 10-Q for the period ending July 31, 2024. The filing covers the first quarter of fiscal year 2025. Key financial data and operational details for this period are presented, including balance sheet information as of July 31, 2024, and April 30, 2024, and comparative data for the prior year's quarter.
Why It Matters
This filing provides investors with an update on Ocean Power Technologies' financial health and operational performance for the first quarter of fiscal year 2025, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.
Key Numbers
- 2024-07-31 — End of Fiscal Q1 2025 (Reporting period for the 10-Q)
- 2024-04-30 — End of Fiscal Year 2024 (Previous fiscal year-end balance sheet comparison point)
- 2023-07-31 — End of Fiscal Q1 2024 (Comparative period for the current quarter's results)
Key Players & Entities
- Ocean Power Technologies, Inc. (company) — Filer of the 10-Q
- 20240731 (date) — End of the reporting period
- 20240916 (date) — Filing date
- 0001378140 (company) — Central Index Key for Ocean Power Technologies, Inc.
- 2024-05-01 (date) — Start of the reporting period
- 2023-05-01 (date) — Start of the comparative prior year period
- 2023-07-31 (date) — End of the comparative prior year period
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a quarterly update on Ocean Power Technologies, Inc.'s financial condition and results of operations for the period ending July 31, 2024.
What fiscal period does this 10-Q cover?
This 10-Q covers the first quarter of Ocean Power Technologies, Inc.'s fiscal year 2025, which ended on July 31, 2024.
What are the key dates mentioned in the filing header?
Key dates include the filing date of 20240916 and the period of report end date of 20240731.
What is the company's fiscal year end?
Ocean Power Technologies, Inc.'s fiscal year ends on April 30.
What comparative financial data is typically included in a 10-Q?
A 10-Q typically includes comparative balance sheets (as of the current quarter-end and prior fiscal year-end) and comparative statements of operations (for the current quarter and year-to-date versus the prior year periods).
Filing Stats: 4,526 words · 18 min read · ~15 pages · Grade level 18.2 · Accepted 2024-09-16 17:14:54
Key Financial Figures
- $0.001 — ange on which registered Common Stock $0.001 par value OPTT NYSE American Seri
- $000 — ies Consolidated Balance Sheets (in $000's, except share data) July 31, 2024
Filing Documents
- form10-q.htm (10-Q) — 889KB
- ex5-1.htm (EX-5.1) — 11KB
- ex10-1.htm (EX-10.1) — 149KB
- ex10-2.htm (EX-10.2) — 181KB
- ex31-1.htm (EX-31.1) — 16KB
- ex31-2.htm (EX-31.2) — 16KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- ex5-1_001.jpg (GRAPHIC) — 9KB
- 0001493152-24-036423.txt ( ) — 5566KB
- optt-20240731.xsd (EX-101.SCH) — 45KB
- optt-20240731_cal.xml (EX-101.CAL) — 73KB
- optt-20240731_def.xml (EX-101.DEF) — 153KB
- optt-20240731_lab.xml (EX-101.LAB) — 337KB
- optt-20240731_pre.xml (EX-101.PRE) — 263KB
- form10-q_htm.xml (XML) — 701KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements: Consolidated Balance Sheets as of July 31, 2024 (unaudited) and April 30, 2024 4 Unaudited Consolidated Statements of Operations for the three months ended July 31, 2024 and 2023 5 Unaudited Consolidated Statements of Comprehensive Loss for the three months ended July 31, 2024 and 2023 6 Unaudited Consolidated Statement of Shareholders' Equity for the three months ended July 31, 2024 and 2023 7 Unaudited Consolidated Statements of Cash Flows for the three months ended July 31, 2024 and 2023 8 Notes to Unaudited Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 43
Controls and Procedures
Item 4. Controls and Procedures 43
— OTHER INFORMATION
PART II — OTHER INFORMATION 44
Legal Proceedings
Item 1. Legal Proceedings 44
Risk Factors
Item 1A. Risk Factors 44
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 44
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 44
Other Information
Item 5. Other Information 45
Exhibits
Item 6. Exhibits 46 2 Table of Contents Special Note Regarding Forward-Looking Statements We have made statements in this Quarterly Report on Form 10-Q that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. Forward-looking liquidity, budgets, projected revenue and costs, plans and objectives of management for future operations. The words "may," "continue," "estimate," "intend," "plan," "will," "believe," "project," "expect," "anticipate", and similar expressions may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. The forward-looking statements contained in or incorporated by reference are largely based on our expectations, which reflect estimates and assumptions made by management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve several risks and uncertainties that are beyond our control, including: Our ability to improve, market and commercialize our products, and achieve and sustain profitability; our continued improvement of our proprietary technologies, and expected continued use of cash from operating activities unless or until we achieve positive cash flow from the commercialization of our products and services; our ability to obtain additional funding, as and if needed, which will be subject to several factors, including market conditions, and our operating performance; the substantial doubt about our ability to continue as a going concern; our history of operating losses, which we expect to conti