Ocean Power Technologies, Inc. (OPTT) Financial Statements (2023 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)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments63,45483,02810,00216,66011,5248,4466,805
Cash and cash equivalents63,45483,02810,00216,66011,4998,4216,730
Short-term investments    252575
Restricted cash and investments384384707344572334300
Receivables1133501056359248 
Inventory, net of allowances, customer advances and progress billings193      
Inventory193      
Contract with customer, asset40719025115
Other current assets436487588537567622117
Other undisclosed current assets     2962,537
Total current assets:64,98784,43911,65317,61913,2559,7469,759
Noncurrent Assets
Operating lease, right-of-use asset8251,0361,165
Property, plant and equipment365406499592712170273
Intangible assets, net (including goodwill)11,957274     
Goodwill7,754      
Intangible assets, net (excluding goodwill)4,203274     
Restricted cash and investments222222221155154154 
Other noncurrent assets     3319
Total noncurrent assets:13,3691,9381,885747866327592
TOTAL ASSETS:78,35686,37713,53818,36614,12110,07310,351
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,8142,5681,5732,2502,5513,6453,048
Accounts payable522687220312290586373
Accrued liabilities1,2921,8811,3531,9382,2613,0592,675
Deferred revenue15 100
Debt    233582
Derivative instruments and hedges, liabilities   6201  
Estimated litigation liability 1,224  350 3,000
Business combination, contingent consideration, liability1,591      
Deferred revenue and credits  39
Customer advances and deposits 600 
Contract with customer, liability188
Other liabilities 60     
Other undisclosed current liabilities779842229 618323 
Total current liabilities:4,1994,6941,9022,4443,7434,6036,168
Noncurrent Liabilities
Long-term debt and lease obligation, including:6158191,078  2355
Capital lease obligations   55
Operating lease, liability6158191,078
Other undisclosed long-term debt and lease obligation     23 
Liabilities, other than long-term debt   147142 600
Customer advances or deposits  600
Deferred rent credit   147142
Other undisclosed noncurrent liabilities(615)(423)(1,013)    
Total noncurrent liabilities:6151,2151,14314714223655
Total liabilities:4,8145,9093,0452,5913,8854,6266,823
Stockholders' equity
Stockholders' equity attributable to parent73,54280,46810,49315,77510,2365,4473,528
Common stock56521351862
Treasury stock, value(338)(338)(302)(301)(300)(263)(138)
Additional paid in capital322,626315,821231,101226,026208,216193,234181,670
Accumulated other comprehensive loss(185)(171)(183)(171)(160)(160)(122)
Accumulated deficit(248,617)(234,896)(220,136)(209,784)(197,538)(187,370)(177,884)
Total stockholders' equity:73,54280,46810,49315,77510,2365,4473,528
TOTAL LIABILITIES AND EQUITY:78,35686,37713,53818,36614,12110,07310,351

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

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Revenues1,6051,2061,700632511843705
Cost of revenue(2,351)(2,279)(1,787)(1,303)(763)(938)(668)
Other undisclosed gross profit  (18)    
Gross profit:(746)(1,073)(105)(671)(252)(95)37
Operating expenses(19,045)(12,519)(11,260)(12,600)(11,308)(11,592)(14,895)
Operating loss:(19,791)(13,592)(11,365)(13,271)(11,560)(11,687)(14,858)
Nonoperating income (expense)28(68)(12)(55)79(16)92
Foreign currency transaction gain (loss), before tax215(12)(55)75(16)(149)
Other nonoperating income (expense)26(83)  4 241
Interest and debt expense891      
Other undisclosed income from continuing operations before equity method investments, income taxes     1,5198
Loss from continuing operations before equity method investments, income taxes:(18,872)(13,660)(11,377)(13,326)(11,481)(10,184)(14,758)
Other undisclosed income (loss) from continuing operations before income taxes(1,045)(1,100)130230205  
Loss from continuing operations before income taxes:(19,917)(14,760)(11,247)(13,096)(11,276)(10,184)(14,758)
Income tax benefit1,041 8958501,1196981,675
Net loss:(18,876)(14,760)(10,352)(12,246)(10,157)(9,486)(13,084)
Net loss attributable to noncontrolling interest      (45)
Other undisclosed net loss attributable to parent(45)      
Net loss available to common stockholders, diluted:(18,921)(14,760)(10,352)(12,246)(10,157)(9,486)(13,129)

Comprehensive Income ($ in thousands)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Net loss:(18,876)(14,760)(10,352)(12,246)(10,157)(9,486)(13,084)
Other comprehensive income (loss)(8)12(12)(11) (38)135
Other undisclosed comprehensive loss(45)     (0)
Comprehensive loss:(18,929)(14,748)(10,364)(12,257)(10,157)(9,524)(12,949)
Comprehensive loss, net of tax, attributable to noncontrolling interest      (73)
Comprehensive loss, net of tax, attributable to parent:(18,929)(14,748)(10,364)(12,257)(10,157)(9,524)(13,021)

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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