Ocean Power Technologies Inc
For the period ended Oct 31, 2024. Filed Dec 16, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 31, 2024 · Filed Dec 16, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-07-31; filed 2024-09-16.
0001493152-24-036423
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2024-10-31; filed 2024-12-16.
0001493152-24-050220
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 5 previous paragraphs and 7 current paragraphs.
3 unchanged; 1 reworded; 3 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
We encounter seasonality and revenue variability due to the markets and customers we serve which may impact our ability to attain forecasted revenue, earnings and cash flow targets consistently on a quarterly basis
Current report
As we continue to grow and scale, we anticipate some quarterly variability in both bookings and revenue recognition going forward. This is a natural outcome of our business model, which involves securing large, complex contracts that may span multiple quarters before revenue is fully recognized. We believe this variability will continue to be offset by our existing “as a Service” solutions that provide recurring revenue, but there may be quarters in our business where this cannot be the case. Our focus remains on long-term execution, delivering on our commitments, and driving sustained value creation. By maintaining this disciplined approach, we believe we will successfully navigate these natural variances as we scale, but there can be no assurance that this will be the case consistently on a quarterly basis. In turn, our ability to attain forecasted revenue, earnings and cash flow targetscould be negatively impacted from time to time.
Removed paragraphs (1)
Reworded paragraphs (1)
Previous wording
We have incurred net losses since we began operations in 1994, including net losses of $4.5 million during the first three months of fiscal year 2025 and $7.0 million during the same three-month period in fiscal year 2024. As of July 31, 2024, we had an accumulated deficit of $312.0 million.
Current wording
We have incurred net losses since we began operations in 1994, including net losses of $8.4 million during the first six months of fiscal year 2025 and $14.3 million during the same six-month period in fiscal year 2024. As of October 31, 2024, we had an accumulated deficit of $316.9 million.