Ocean Power Technologies, Inc. announced that its stockholders approved a 1-for-30 reverse stock split of its common stock at a special meeting on September 10, 2026. The Board exercised its authority to set the ratio within the authorized range of 1-for-5 to 1-for-50. The split became effective at 5:00 p.m. Eastern Time on September 11, 2026, following the filing of a Certificate of Amendment with Delaware. Trading on a split-adjusted basis commenced on the NYSE American on September 14, 2026. This action reduced the issued and outstanding shares from approximately 270.1 million to roughly 9.1 million while maintaining the $0.001 par value. Fractional shares were rounded up to whole shares with no cash payments made in lieu of fractions. The company operates in the maritime technology sector, providing autonomous ocean systems, power buoys, and unmanned surface vessels for defense, energy, and research markets.

Ocean Power Technologies, Inc. updated its preliminary financial results for the fiscal year ended April 30, 2026, following audit procedures that revised accounting treatment for revenue and costs. Revenue decreased by approximately $0.4 million to $3.7 million, while net loss increased by approximately $5.2 million to $48.9 million due to a $5.7 million non-cash charge from the fair value of financial instruments. The company also disclosed that its independent auditor issued an audit report with an explanatory paragraph emphasizing a going concern qualification for the fiscal year ended April 30, 2026. Ocean Power Technologies operates in the maritime technology sector, providing autonomous ocean systems and AI-enabled intelligence solutions.

Ocean Power Technologies, Inc. announced on August 17, 2026, that its Board of Directors has initiated a review of strategic alternatives to maximize stockholder value. The company retained Bowen, Inc. as financial advisor and intends to consider options to accelerate growth, expand market access, and strengthen its financial position. Day-to-day operations will continue without interruption. Ocean Power Technologies operates in the maritime technology sector, providing intelligent solutions for defense, security, oil and gas, science, and offshore wind markets.

Ocean Power Technologies announced it was selected as one of six potential awardees under a $40 million multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract supporting the Naval Oceanographic Office. The firm-fixed-price contract covers high-resolution ocean-floor mapping services using long-endurance unmanned surface vehicles across Indian and Pacific Ocean basins. The two-year ordering period is anticipated to begin in August 2026 through July 2028, with individual task orders competed among holders. This selection validates the company's transition to operational capabilities for Department of War customers and supports its Robotics as a Service strategy. Ocean Power Technologies provides intelligent maritime solutions, including autonomous ocean systems, power buoys, and unmanned surface vessels for defense, energy, and research markets.

Ocean Power Technologies, Inc. entered into an at-the-market (ATM) offering agreement with H.C. Wainwright & Co., LLC on July 27, 2026, allowing the company to sell up to $20,000,000 in common stock. The agreement includes a 3.00% commission rate for Wainwright as sales agent. Ocean Power Technologies, Inc. provides renewable energy solutions for ocean power generation.