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Ocean Power Technologies, Inc. Announces First Quarter Fiscal 2025 Results
39% decrease in operating expenses to $4.9 million
- 23% reduction in cash used for operating activities to $6.1 million
- 71% increase in backlog to $5.3 million
- Record pipeline of $92 million, up from $85 million in Q1 2024
- Revenues steady at $1.3 million, with trailing twelve-month revenue up 70% to $5.6 million
- Net loss decreased to $4.5 million from $7.0 million in Q1 2024
The company reported several new contracts, partnerships, and technological advancements, including a contract with the Naval Postgraduate School and the launch of Global 24/7 Service Support.
- 23% reduction in cash used for operating activities to $6.1 million
- 71% increase in backlog to $5.3 million
- Record pipeline of $92 million, up from $85 million in Q1 2024
- Revenues steady at $1.3 million, with trailing twelve-month revenue up 70% to $5.6 million
- Net loss decreased to $4.5 million from $7.0 million in Q1 2024
The company reported several new contracts, partnerships, and technological advancements, including a contract with the Naval Postgraduate School and the launch of Global 24/7 Service Support.
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let it squeeze : probably gonna see what happens tomorrow