Wam-V was Ocean Power Technologies’s largest product and service line in fiscal 2025, bringing in $4.55M of $5.86M (78%).
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Wam-V | — | — | $3.30M | $4.55M |
| Wamv | $401.00K | $1.59M | — | — |
| Service | $979.00K | $877.00K | $482.00K | $718.00K |
| Buoy | $379.00K | $269.00K | $1.74M | $589.00K |
| Total | $1.76M | $2.73M | $5.53M | $5.86M |
Ocean Power Technologies brought in $5.86M from its three product and service lines in fiscal 2025, the year ended April 30, 2025. That was up 6.1% from $5.53M in fiscal 2024. Wam-V was the largest at $4.55M (77.7%), ahead of Service at $718.00K (12.3%) and Buoy at $589.00K (10.0%).
Compared with fiscal 2024, Service grew fastest, up 49.0% to $718.00K, while Buoy fell the most, down 66.1% to $589.00K.
Ocean Power Technologies began breaking out Wam-V in fiscal 2024, when it brought in $3.30M. Ocean Power Technologies stopped reporting Wamv as a separate line after fiscal 2023, when it brought in $1.59M.
North America was Ocean Power Technologies’s largest region in fiscal 2025, bringing in $3.86M of $5.86M (66%).
| Geography | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | $1.63M | $2.39M | $5.28M | $3.86M | ||||||||||
| Europe | $19.00K | $90.00K | $247.00K | $1.89M | ||||||||||
| Asia & Australia | $107.00K | $253.00K | — | $118.00K | ||||||||||
| Total | $1.76M | $2.73M | $5.53M | $5.86M |
Ocean Power Technologies brought in $5.86M from its three regions in fiscal 2025, the year ended April 30, 2025. Ocean Power Technologies regrouped these regions after fiscal 2024, so the total does not compare directly with that year's $5.53M. North America was the largest at $3.86M (65.8%), ahead of Europe at $1.89M (32.2%) and Asia & Australia at $118.00K (2.0%).
Compared with fiscal 2024, Europe grew 664.4% to $1.89M, while North America fell 27.0% to $3.86M. From fiscal 2022 to 2025, combined revenue from these regions grew from $1.76M to $5.86M, a compound annual growth rate of 49.4%. North America's share of the total fell from 92.8% to 65.8%.
Accounting Standards Update 2014-09 was Ocean Power Technologies’s largest revenue line in fiscal 2025, bringing in $5.41M of $5.86M (92%).
| Adjustments for New Accounting Pronouncements | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Accounting Standards Update 2014-09 | $1.76M | $2.07M | $4.13M | $5.41M |
| Accounting Standards Update 2016-02 | — | $667.00K | $1.39M | $453.00K |
| Total | $1.76M | $2.73M | $5.53M | $5.86M |
Ocean Power Technologies brought in $5.86M from its two revenue lines in fiscal 2025, the year ended April 30, 2025. That was up 6.1% from $5.53M in fiscal 2024. Accounting Standards Update 2014-09 was the largest at $5.41M (92.3%), ahead of Accounting Standards Update 2016-02 at $453.00K (7.7%).
Compared with fiscal 2024, Accounting Standards Update 2014-09 grew 30.8% to $5.41M, while Accounting Standards Update 2016-02 fell 67.5% to $453.00K.
Ocean Power Technologies began breaking out Accounting Standards Update 2016-02 in fiscal 2023, when it brought in $667.00K.
Ocean Power Technologies (OPTT) reports its revenue by product and service, by geography and by adjustments for new accounting pronouncements. In fiscal 2025, Wam-V was its largest product and service line, bringing in $4.55M (77.7% of the total), followed by Service at $718.00K (12.3%).
Wam-V was Ocean Power Technologies' largest product and service line in fiscal 2025, bringing in $4.55M, or 77.7% of the $5.86M total across its three product and service lines.
North America was Ocean Power Technologies' largest region in fiscal 2025, bringing in $3.86M, or 65.8% of the $5.86M total across its three regions.
Accounting Standards Update 2014-09 was Ocean Power Technologies' largest revenue line in fiscal 2025, bringing in $5.41M, or 92.3% of the $5.86M total across its two revenue lines.
Among Ocean Power Technologies' product and service lines that make up at least 2% of revenue, Service grew fastest in fiscal 2025, up 49.0% from $482.00K to $718.00K.
Every figure comes from Ocean Power Technologies' annual financial filings, as reported. Each line keeps the name Ocean Power Technologies gives it, and years follow its fiscal calendar.
Ocean Power Technologies' revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.