15 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 10.3% per year over the past 5 years.
Operating margin has contracted, at -5480.4% in the latest year.
Financial health
Total debt ($12M) exceeds cash ($9M); net debt is $3M.
Total debt has grown faster than revenue (68.2% vs -10.3% per year).
Operating income covered interest expense -309.4× in the latest year.
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$700000
-$49M
-845.9%
-5480.4%
-392.1%
-122.5%
-$25M
$12M
$9M
2025
—
-$24M
—
—
-91.8%
-79.5%
-$19M
—
$7M
2024
—
-$27M
—
—
-142.1%
-95.7%
-$32M
—
$3M
2023
—
-$26M
—
—
-59.9%
-49.3%
-$22M
—
$7M
2022
$2M
-$19M
-5.7%
-1225.3%
-27.4%
-25.7%
-$21M
—
$8M
2021
$1M
-$15M
-89.0%
-1127.0%
-18.3%
-17.1%
-$12M
$891000
$83M
2020
$2M
-$10M
-6.2%
-675.7%
-98.7%
-76.5%
—
—
$10M
2019
$632000
-$12M
-106.2%
-2099.8%
-77.6%
-66.7%
—
—
$17M
2018
$511000
-$10M
-49.3%
-2262.2%
-99.2%
-71.9%
—
—
$11M
2017
—
-$9M
—
—
-174.2%
-94.2%
—
—
$8M
2016
—
-$13M
—
—
-372.1%
-126.8%
—
$50000
$7M
2015
—
-$13M
—
—
-83.6%
-69.5%
—
$150000
$17M
2014
—
-$11M
—
—
-38.5%
-28.8%
—
$150000
$14M
2013
—
-$15M
—
—
-80.3%
-59.1%
—
$350000
$6M
2012
—
-$15M
—
—
-47.1%
-40.4%
—
$450000
$9M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Apr '26
—
-$19M
—
—
-155.0%
-48.4%
-$3M
$12M
$9M
Jan '26
—
-$11M
—
—
-56.6%
-27.6%
-$7M
—
$7M
Oct '25
—
-$11M
—
—
-48.5%
-27.5%
-$8M
—
$12M
Jul '25
—
-$7M
—
—
-30.5%
-20.2%
-$7M
—
$10M
Apr '25
—
-$9M
—
—
-35.2%
-30.5%
-$4M
—
$7M
Jan '25
—
-$7M
—
—
-23.2%
-19.5%
-$4M
—
$10M
Oct '24
—
-$4M
—
—
-17.7%
-14.5%
-$5M
—
$2M
Jul '24
—
-$4M
—
—
-20.0%
-15.3%
-$6M
—
$3M
Apr '24
—
-$7M
—
—
-34.7%
-23.4%
-$6M
—
$3M
Jan '24
—
-$7M
—
—
-25.8%
-18.8%
-$10M
—
$5M
Oct '23
—
-$7M
—
—
-22.8%
-18.2%
-$8M
—
$3M
Jul '23
—
-$7M
—
—
-18.3%
-15.4%
-$8M
—
$4M
Apr '23
—
-$10M
—
—
-21.7%
-17.9%
-$6M
—
$7M
Jan '23
—
-$6M
—
—
-11.5%
-10.3%
-$5M
—
$11M
Oct '22
$303000
-$5M
12.9%
-2072.6%
-8.2%
-7.5%
-$6M
—
$10M
Jul '22
$714000
-$6M
27.2%
-839.4%
-9.2%
-8.6%
-$5M
—
$9M
Apr '22
$756000
-$5M
28.6%
-773.1%
-7.5%
-7.0%
-$5M
—
$8M
Jan '22
$484000
-$5M
-23.3%
-1134.7%
-7.4%
-7.0%
-$6M
—
$63M
Oct '21
$247000
-$5M
-21.5%
-2099.2%
-7.1%
-6.8%
-$5M
—
$73M
Jul '21
$272000
-$3M
-55.5%
-1849.6%
-4.0%
-3.8%
-$5M
—
$78M
Valuation over time
How the market has priced OPTT against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 2.7× (Mar '23) to 2.5× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is OPTT growing its revenue and profit?
Over the past 5 years, Ocean Power Technologies, Inc.'s revenue has declined 10.3% per year. These are computed facts, not advice.
How much debt does OPTT have?
As of FY2026, Ocean Power Technologies, Inc. reported $12M of total debt against $9M of cash; operating income covered interest expense -309.4×.
What is OPTT's profit margin?
In FY2026, gross margin was -845.9%, operating margin -5480.4%, and net margin -6987.9%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.