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)

10/31/2023
MRQ
4/30/2023
1/31/2023
MRQ
4/30/2022
4/30/2021
4/30/2020
4/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments34,67340,92557,26983,02810,00216,660
Cash and cash equivalents6,88310,9207,88583,02810,00216,660
Short-term investments27,79030,00549,384   
Restricted cash and investments6565258384707344
Receivables74570648235010563
Inventory, net of allowances, customer advances and progress billings1,0441,436442   
Inventory1,0441,436442   
Contract with customer, asset, after allowance for credit loss1529338619025115
Other current assets9941,997467487588537
Total current assets:37,67345,22259,30484,43911,65317,619
Noncurrent Assets
Operating lease, right-of-use asset1,7515227521,0361,165
Property, plant and equipment1,280591445406499592
Intangible assets, net (including goodwill)12,51512,55412,673274  
Goodwill8,5378,5378,537   
Intangible assets, net (excluding goodwill)3,9784,0174,136274  
Restricted cash and investments 155154219222221155
Total noncurrent assets:15,70113,82114,0891,9381,885747
TOTAL ASSETS:53,37459,04373,39386,37713,53818,366
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,2982,2172,1082,5681,5732,250
Employee-related liabilities326   
Accounts payable952591905687220312
Accrued liabilities2,3461,6268771,8811,3531,938
Deferred revenue1,3781,334129 100
Derivative instruments and hedges, liabilities      6
Estimated litigation liability    1,224  
Business combination, contingent consideration, liability1,202875748   
Contract with customer, liability188
Other liabilities    60  
Other undisclosed current liabilities2,029320(7)842229 
Total current liabilities:7,9074,7462,9784,6941,9022,444
Noncurrent Liabilities
Long-term debt and lease obligation:   5388191,078 
Liabilities, other than long-term debt1,5141,3551,046  147
Deferred rent credit      147
Deferred income tax liabilities203203203  
Operating lease, liability1,3112825388191,078
Business combination, contingent consideration, liability  870843   
Other undisclosed noncurrent liabilities    (423)(1,013) 
Total noncurrent liabilities:1,5141,3551,5841,2151,143147
Total liabilities:9,4216,1014,5625,9093,0452,591
Equity
Equity, attributable to parent43,95352,94268,83180,46810,49315,775
Common stock56565652135
Treasury stock, value(355)(355)(341)(338)(302)(301)
Additional paid in capital324,393323,843322,932315,821231,101226,026
Accumulated other comprehensive loss(45)(46)(46)(171)(183)(171)
Accumulated deficit(280,096)(270,556)(253,770)(234,896)(220,136)(209,784)
Total equity:43,95352,94268,83180,46810,49315,775
TOTAL LIABILITIES AND EQUITY:53,37459,04373,39386,37713,53818,366

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

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Revenues2,7322,5071,7591,2061,700632
Cost of revenue(2,496)(1,922)(1,860)(2,279)(1,787)(1,303)
Other undisclosed gross profit     (18) 
Gross profit:236585(101)(1,073)(105)(671)
Operating expenses(29,452)(25,608)(21,512)(12,519)(11,260)(12,600)
Other undisclosed operating loss (152)    
Operating loss:(29,216)(25,175)(21,613)(13,592)(11,365)(13,271)
Nonoperating income (expense)11,20359(68)(12)(55)
Gain (loss), foreign currency transaction, before tax12(1)15(12)(55)
Other nonoperating income (expense)  1,20260(83)  
Interest and debt expense   890   
Loss from continuing operations before equity method investments, income taxes:(29,215)(23,972)(20,664)(13,660)(11,377)(13,326)
Other undisclosed income (loss) from continuing operations before income taxes2,611973(33)(1,100)130230
Loss from continuing operations before income taxes:(26,604)(22,999)(20,697)(14,760)(11,247)(13,096)
Income tax benefit2781,0601,823 895850
Loss from continuing operations:(26,326)(21,939)(18,874)(14,760)(10,352)(12,246)
Loss before gain (loss) on sale of properties:(15,849)(18,874)(14,760)(10,352)(12,246)
Net loss available to common stockholders, diluted:(26,326)(21,939)(18,874)(14,760)(10,352)(12,246)

Comprehensive Income ($ in thousands)

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Net loss:(26,326)(21,939)(18,874)(14,760)(10,352)(12,246)
Other comprehensive income (loss) 1(18)(32)12(12)(11)
Other undisclosed comprehensive loss (1)     
Comprehensive loss, net of tax, attributable to parent:(26,326)(21,957)(18,906)(14,748)(10,364)(12,257)

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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