News- Does this sound like a Co going out ofr bizz? Ocean Power Technologies, Inc. SEC Filing - Proxy Statement (definitive) (DEF 14A) July 15, 2024 SEC FilingsMon, Jul. 15 Ocean Power Technologies signs OEM agreement with maritime technology provider Teledyne Marine SA NewsThu, Jun. 27 Ocean Power wins preliminary deal to supply unmanned surface vehicles to U.S. government SA NewsWed, Jun. 26 Ocean Power announces teaming agreement with defense contractor SA NewsTue, Apr. 16 Ocean Power Technologies collaborates with Red Cat for maritime defense solutions SA NewsMon, Apr. 08 Ocean Power Technologies secures key deal for WAM-V USVs in Latin America SA NewsWed, Mar. 27 Ocean Power Technologies obtains $1.5M in purchase orders SA NewsTue, Mar. 26
I was going from memory i was a little off it was 17% a week or two ago and 46% now//// Hummmmmmmmmmmmmmmmm. Ocean Power options imply 46.2% move in share price post-earnings » 14:19 OPTT Ocean Power options imply 17.8% move in share price post-earnings » 07/10 OPTT
From last earn call~~~~~~~~~ Philipp Stratmann:Thank you, Joe, and good morning, everyone. We're pleased to have you join us on this call, and your continued support is greatly valued as we advance with our plans to enhance shareholder value. Before we delve into the numbers, on February 28, we conducted our 2023 Annual General Meeting. I am pleased to announce that all of the resolutions proposed at the Annual General Meeting were duly passed by our shareholders, including the reelection of all of our Board members by a strong majority of the votes cast. I'd like to thank you for this vote of confidence. The management team we have put together over the past two years has the right skills to take advantage of the market demand, which is clear. Our customers are procuring autonomous resident and roaming assets that protect marine environments, collect essential ocean data, and enhance national security. We continue building our pipeline and are converting opportunities into backlog and revenues, as seen with wins like the recently announced vehicle order from a Latin American customer and the latest subcontract from a U.S.-based prime contractor for multiple maritime domain awareness buoys. We believe we're well-positioned to reward your confidence and turn this momentum into profitable growth and deliver value for our shareholders. Let's talk about some recent developments. We continue to make progress on our path to profitability in line with our November 2023 announcement that we have substantially completed our research and development phase and are primarily focused on commercial activities. This pivot to commercial activities has enabled reallocation of headcount, resulting in approximately $4.5 million in annual run rate savings on a go-forward basis, and a material reduction in third-party expenditures. The majority of our employees are now dedicated to customer delivery, which includes manufacturing, vehicle operations, and marine deployments. We have built a suite of products and solutions that we believe will be the basis for our current and future commercial success and is driving meaningful progress in backlog, revenue, and profitability, with our pipeline of $77 million increasing over 5X year-over-year. We expect that recent meaningful contract wins, which I will describe more fully in a moment, the growth in our commercial pipeline, and the expense savings noted, will enable us to reach profitability during calendar year 2025. In February 2024, we received multiple orders of fully integrated WAM-V unmanned surface vehicles, also known as USVs, from clients in Latin America, highlighting the wide-ranging capabilities and applications of the WAM-V USVs and heightened interest and trust in our WAM-V technology from clients across the globe. These orders underscore the growing demand for OPT's advanced marine technologies and their applications in maritime surveillance, environmental monitoring, and ocean data collection. Also in February 2024, we received funding from the Naval Postgraduate School in Monterey, California, for a year-long deployment of a PowerBuoy in Monterey Bay. The PowerBuoy, integrating OPT's maritime domain awareness system along with cutting-edge satellite communication and AT&T 5G technology, will demonstrate its persistent surveillance and communications capacities in a maritime environment. This advancement is a testament to the ongoing collaboration between OPT and AT&T. In December 2023, we secured our first multi-buoy letter contract. This is a planned subcontract with a U.S.-based prime contractor to deliver maritime domain awareness solutions for U.S. government agencies. A technician named Van in a hardhat examining a subsea battery system. We are currently working on the conversion of the letter contract to a firm order. In addition to these contracts, we also completed several deployments with our WAM-Vs and delivered additional vehicles from our facilities in New Jersey and California. In addition to the aforementioned activities, we continue to see increased levels of commercial demand. The company is positioned well to deliver to our customers in the defense and national security space, and over 20% of our workforce are military veterans. Our opportunity pipeline continues to grow. In addition to the orders I just discussed, we have also continued to add to the top of the pipeline. We are continuing to grow our revenues and our gross profit margins are increasing. Our strategy is working, and we see additional opportunities for multi-system orders, vehicles and buoys on the horizon.
CAREFUL HERE- LAST HOUR CHANGE OF MOOD LATELY. SP500 S&P 500 Index 5,427.30 0.17 (+0.00%)3:12 PM 07/25/24 S&P Complete Indices | Realtime