Ocean Power Technologies, Inc.

Ocean Power Technologies, Inc. ( OPT, we, our, or the Company ) is a Maritime Domain Awareness (MDA) company specializing in innovative intelligent maritime solutions. These solutions include a variety of as a service systems, including Data as a Service (DaaS), Robotics as a Service (RaaS), and Power as a Service (PaaS). These systems consist of a variety of platforms including the PowerBuoy , our persistent sensor and power solution, the WAM-V (Wave Adaptive Modular Vessel), our autonomous unmanned surface vehicle, and Merrows , our user interface and command and control (C2) system that integrates multiple sensor feeds using software and hardware and enables artificial intelligence and machine learning (AI/ML) integration. We design, manufacture, deploy, and operate these systems for defense, security, subsea infrastructure, offshore oil and gas, offshore energy, marine research, and communication markets. We operate primarily through a combination of direct sales and leases, strategic partnerships, and long-term service agreements. Our business model emphasizes capital-light deployments, recurring revenue from leases, service and maintenance contracts, and high-margin technology sales and leases. We serve a global customer base, including the U.S. and allied defense agencies, offshore energy operators, and other commercial interests. The common thread across these markets is the growing need for a persistent, autonomous, and sustainable offshore presence, a need we are well positioned to fulfill.