In today’s briefing:
- Ocean Power Technologies, Inc. – 2QFY24 Results: Revenue Increases 193%
Ocean Power Technologies, Inc. – 2QFY24 Results: Revenue Increases 193%
- Ocean Power Technologies reported 2QFY24 revenue of $0.9 million, up 193% Y/Y from $0.3 million in 2QFY23, driven by sales of WAM-V autonomous vehicles, the contract with the Department of Energy (DOE), and an increase in strategic consulting services.
- The previous quarter had revenue of $0.2 million from leased boats.
- The company reported 2QFY24 gross profit of $0.5 million, compared with a profit of $39,000 in 2QFY23.
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