Ocean Power Technologies Inc. (OPTT) Financial Statements (2024 and earlier)

Company Profile

Business Address 28 ENGELHARD DRIVE
MONROE TOWNSHIP, NJ 08831
State of Incorp. NJ
Fiscal Year End April 30
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

1/31/2024
MRQ
4/30/2023
4/30/2022
4/30/2021
4/30/2020
4/30/2019
4/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments34,67357,26983,02810,00216,66011,524
Cash and cash equivalents6,8837,88583,02810,00216,66011,499
Short-term investments27,79049,384   25
Restricted cash and investments65258384707344572
Receivables74548235010563592
Inventory, net of allowances, customer advances and progress billings1,044442    
Inventory1,044442    
Contract with customer, asset, after allowance for credit loss15238619025115
Other current assets994467487588537567
Total current assets:37,67359,30484,43911,65317,61913,255
Noncurrent Assets
Operating lease, right-of-use asset1,7517521,0361,165
Property, plant and equipment1,280445406499592712
Intangible assets, net (including goodwill)12,51512,673274   
Goodwill8,5378,537    
Intangible assets, net (excluding goodwill)3,9784,136274   
Restricted cash and investments 155219222221155154
Total noncurrent assets:15,70114,0891,9381,885747866
TOTAL ASSETS:53,37473,39386,37713,53818,36614,121
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,2982,1082,5681,5732,2502,551
Employee-related liabilities326    
Accounts payable952905687220312290
Accrued liabilities2,3468771,8811,3531,9382,261
Deferred revenue1,378129 100
Debt      23
Derivative instruments and hedges, liabilities     6201
Estimated litigation liability   1,224  350
Business combination, contingent consideration, liability1,202748    
Other liabilities   60   
Contract with customer, liability188
Other undisclosed current liabilities2,029(7)842229 618
Total current liabilities:7,9072,9784,6941,9022,4443,743
Noncurrent Liabilities
Long-term debt and lease obligation:  5388191,078  
Liabilities, other than long-term debt1,5141,046  147142
Deferred rent credit     147142
Deferred income tax liabilities203203  
Operating lease, liability1,3115388191,078
Business combination, contingent consideration, liability  843    
Other undisclosed noncurrent liabilities   (423)(1,013)  
Total noncurrent liabilities:1,5141,5841,2151,143147142
Total liabilities:9,4214,5625,9093,0452,5913,885
Equity
Equity, attributable to parent43,95368,83180,46810,49315,77510,236
Common stock56565213518
Treasury stock, value(355)(341)(338)(302)(301)(300)
Additional paid in capital324,393322,932315,821231,101226,026208,216
Accumulated other comprehensive loss(45)(46)(171)(183)(171)(160)
Accumulated deficit(280,096)(253,770)(234,896)(220,136)(209,784)(197,538)
Total equity:43,95368,83180,46810,49315,77510,236
TOTAL LIABILITIES AND EQUITY:53,37473,39386,37713,53818,36614,121

Income Statement (P&L) ($ in thousands)

1/31/2024
TTM
4/30/2023
4/30/2022
4/30/2021
4/30/2020
4/30/2019
4/30/2018
Revenues2,7321,7591,2061,700632511
Cost of revenue(2,496)(1,860)(2,279)(1,787)(1,303)(763)
Other undisclosed gross profit    (18)  
Gross profit:236(101)(1,073)(105)(671)(252)
Operating expenses(29,452)(21,512)(12,519)(11,260)(12,600)(11,308)
Other undisclosed operating income      
Operating loss:(29,216)(21,613)(13,592)(11,365)(13,271)(11,560)
Nonoperating income (expense)159(68)(12)(55)79
Gain (loss), foreign currency transaction, before tax1(1)15(12)(55)75
Other nonoperating income (expense)  60(83)  4
Interest and debt expense  890    
Loss from continuing operations before equity method investments, income taxes:(29,215)(20,664)(13,660)(11,377)(13,326)(11,481)
Other undisclosed income (loss) from continuing operations before income taxes2,611(33)(1,100)130230205
Loss from continuing operations before income taxes:(26,604)(20,697)(14,760)(11,247)(13,096)(11,276)
Income tax benefit2781,823 8958501,119
Loss from continuing operations:(26,326)(18,874)(14,760)(10,352)(12,246)(10,157)
Loss before gain (loss) on sale of properties:(18,874)(14,760)(10,352)(12,246)(10,157)
Net loss available to common stockholders, diluted:(26,326)(18,874)(14,760)(10,352)(12,246)(10,157)

Comprehensive Income ($ in thousands)

1/31/2024
TTM
4/30/2023
4/30/2022
4/30/2021
4/30/2020
4/30/2019
4/30/2018
Net loss:(26,326)(18,874)(14,760)(10,352)(12,246)(10,157)
Other comprehensive income (loss) 1(32)12(12)(11) 
Other undisclosed comprehensive loss (1)     
Comprehensive loss, net of tax, attributable to parent:(26,326)(18,906)(14,748)(10,364)(12,257)(10,157)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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