Ocean Power Technologies is trading 11% down at $0.16 as investors react to fiscal 2026 results showing a significant net loss despite a record increase in backlog.
- The company reported a net loss of $44.8 million, or ($0.23) per share, on revenue of just $4.1 million for the period.
- While current revenue remains low, the company's backlog surged 58% to a record $19.8 million, supporting a reaffirmed fiscal 2026 revenue guidance of $12 million to $15 million.