<!DOCTYPE html><html lang="en"><head><meta http-equiv="origin-trial" content="A/kargTFyk8MR5ueravczef/wIlTkbVk1qXQesp39nV+xNECPdLBVeYffxrM8TmZT6RArWGQVCJ0LRivD7glcAUAAACQeyJvcmlnaW4iOiJodHRwczovL2dvb2dsZS5jb206NDQzIiwiZmVhdHVyZSI6IkRpc2FibGVUaGlyZFBhcnR5U3RvcmFnZVBhcnRpdGlvbmluZzIiLCJleHBpcnkiOjE3NDIzNDIzOTksImlzU3ViZG9tYWluIjp0cnVlLCJpc1RoaXJkUGFydHkiOnRydWV9">
  
<script type="text/javascript" async="" src="https://www.google-analytics.com/analytics.js"></script><script type="text/javascript" async="" src="https://www.googletagmanager.com/gtag/js?id=UA-113590965-4&amp;l=dataLayer&amp;cx=c"></script><script type="text/javascript" async="" charset="utf-8" src="https://www.gstatic.com/recaptcha/releases/EGbODne6buzpTnWrrBprcfAY/recaptcha__en.js" crossorigin="anonymous" integrity="sha384-zYfvuq6xV6aLevocYkVfLId59jcIkDZniQX2TsTt9LIa0Tf1ORHFh4oKI1naLgGF"></script><script async="" src="https://www.googletagmanager.com/gtag/js?id=G-REPSH58KSM"></script>


<script async="" src="https://www.googletagmanager.com/gtm.js?id=GTM-5KBPWNG"></script>


<meta charset="utf-8">
<meta http-equiv="content-language" content="en">
<meta name="google" content="notranslate">
<title>OPTT - Earnings call transcript Q1 2025 | Ocean Power Technologies, Inc.</title>

<meta property="og:title" content="OPTT - Earnings call transcript Q1 2025">
<meta property="og:description" content="2025 Q1 earnings call transcript for Ocean Power Technologies, Inc.">
<meta property="og:image" content="https://files.capedge.com/images/logo/1378140.png">
<meta property="og:url" content="https://capedge.com/transcript/1378140/2025Q1/OPTT">

<meta property="og:type" content="website">
<meta name="twitter:card" content="summary_large_image">

<meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no, shrink-to-fit=no">
<link rel="stylesheet" href="/css/style.css?v=20240925T124303">
<link rel="icon" sizes="32x32" type="image/png" href="/img/icon-200.png">
<link rel="apple-touch-icon" sizes="200x200" href="/img/icon-200.png">
<link rel="canonical" href="https://capedge.com/transcript/1378140/2025Q1/OPTT">



</head>
<body class="plan-free no-sidebar-wrap">

  <a name="pageTop" id="pageTop"></a>

  <div id="alert-container"></div>

  <div class="d-lg-none" id="mobile-mode-canary"></div>

  <div id="main-container">

    <div id="above-footer">

      <div class="container">

        <div class="row align-items-center py-3 py-lg-2 d-print-none">
          <div class="col-4 col-lg-3 order-1 pr-0">
            <a href="/user/dashboard" id="logo-container"><img src="/img/capedge-logo-by-finsight.svg?v=20240925T124303" alt="CapEdge" width="174" height="37"></a>
          </div>
          <div class="col-12 col-lg order-3 order-lg-2 pt-3 pt-lg-0">
            
<form action="/search" method="get" id="mainSearchForm" spellcheck="false" autocomplete="off" role="search">
    <div class="input-group">
        <div class="tokenInput tokeninput-container tokeninput-empty flex-grow-1 form-control header-search">
            <input id="searchInput" type="search" name="q" placeholder="Search by ticker, company or words in SEC filings" value="" tabindex="1" autocomplete="off" autocorrect="off" autocapitalize="off" style="width: 100%;">
            <script class="tokeninput-data" type="application/json">
            {
                "resultDataProp":"suggestions",
                "resultTextProp":"name",
                "resultValueProp":"value",
                "url":"/search/suggestions?profiles=true&q=$query&ctxType=company&ctxVal=1378140",
                "values":[],
                "type":"lookup",
                "completionGroups" : {
                    "profiles" : { "heading" : "Filing Profile", "newOption" : false },
                    "searches" : { "heading" : "Search Across Filings, News and Transcripts", "newOption" : false }
                },
                "autoSuggestMode":true
            }
            </script>
        </div>
        <div id="searchLoading">Loading</div>
        <div id="searchAdvanced" class="d-none"><a href="/help/search" tabindex="2">Advanced</a></div>
    </div>
</form>

          </div>
          <div class="col-8 col-lg-3 order-2 order-lg-3">
            

<div class="d-flex justify-content-end align-items-center user-action-buttons">
	
	<a href="https://help.capedge.com/release-notes/" target="_blank" class="mr-4 text-decoration-none header-help-link"><span class="d-xxl-none"><i class="fe fe-help-circle d-block"></i></span><span class="d-none d-xxl-block"><i class="fe fe-info"></i> What's new?</span></a>

	<div class="btn-toolbar align-items-center" role="toolbar" id="favourites-toolbar">
		<div class="btn-group" role="group">
			
					<button type="button" id="btn-toggle-favourites" class="btn top-level active" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="favourites-col" data-original-title="Toggle favorites"><i class="fe fe-star"></i></button>
				
					<button type="button" id="btn-toggle-alerts" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="alerts-col" data-original-title="Toggle alert feed"><i class="fe fe-bell"></i></button>
				
					<button type="button" id="btn-toggle-notes" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="notes-col" data-original-title="Toggle note list"><i class="fe fe-edit"></i></button>
				
			<div class="btn-group" role="group">
				<button class="btn top-level dropdown-toggle user-plan-free" type="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false">TS</button>
				<div class="dropdown-menu dropdown-menu-right">
					<a class="dropdown-item" href="/user/edit">
						<i class="dropdown-icon fe fe-user"></i>Edit profile
					</a>
					<a class="dropdown-item" href="/user/changepassword">
						<i class="dropdown-icon fe fe-shield"></i>Change password
					</a>
					<a class="dropdown-item" href="/user/settings">
						<i class="dropdown-icon fe fe-sliders"></i>Email settings
					</a>
					<a class="dropdown-item" href="/user/myaccount">
						<i class="dropdown-icon fe fe-info"></i>Manage my account
					</a>
					<a class="dropdown-item" href="/user/support">
						<i class="dropdown-icon fe fe-life-buoy"></i>Support
					</a>
					<div class="dropdown-divider"></div>
					<div class="dropdown-item">
						<form action="/user/logout" method="post">
							<button type="submit" class="btn btn-sm btn-outline-primary w-100">Logout</button>
						</form>
					</div>
				</div>
			</div>
		</div>
	</div>
</div>



          </div>
        </div>

        
<div class="row d-print-none">
    <div class="col">
        <ul class="nav nav-tabs align-items-center" id="primary-menu" data-test="menuMain">
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/">Home</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/sector"><span class="d-none d-lg-inline">Sectors &amp; Industries</span><span class="d-lg-none">Sectors</span></a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/earnings-calendar">Earnings</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/ipo-calendar">IPOs</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/spacs">SPACs</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/transcript/by/companyId/all">Transcripts</a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/insider">Insider</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/institutional">Institutional</a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/crypto">Crypto</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/screener/stock">Screeners</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/social">Reddit</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/stock-split-calendar">Splits</a>
			</li>
			
			
			<li class="nav-item right" data-test="menuMainItem">
				<a class="nav-link" href="/user/dashboard">My Dashboard</a>
			</li>
			
			
		</ul>
	</div>
</div>

        
        <div class="row flex-nowrap pb-5" id="columns-row" data-open="1">

            
            <div class="col order-2 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none " id="favourites-col">
              
<div class="">
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="favourites-toolbar">
		<div class="mr-auto toolbar-title" data-count="0">Favorites</div>
		<div class="btn-group" role="group">
			<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAddFavourite"><i class="fe fe-plus-circle"></i></button>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="favourites-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="favourites-list" class="list-unstyled mb-0 w-100 empty-placeholder" data-count="0"></ul>
</div>
            </div>
            <div class="col order-3 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none  collapsed" id="alerts-col">
              <div class="">
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="alerts-toolbar">
		<div class="mr-auto toolbar-title">Alert feed</div>
		<div class="btn-group" role="group">
			<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAlertSettings" id="btn-alert-config"><i class="fe fe-settings"></i></button>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="alerts-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="alerts-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder">
    </ul>

</div>
            </div>
            <div class="col order-4 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none  collapsed" id="notes-col">
              
<div>
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="notes-toolbar">
		<div class="mr-auto toolbar-title" data-count="0">Notes</div>
		<div class="btn-group" role="group">
			<div>
				<div id="add-note-recaptcha" class="g-recaptcha" data-sitekey="6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol" data-callback="recaptchaAddNote" data-size="invisible"><div class="grecaptcha-badge" data-style="bottomright" style="width: 256px; height: 60px; display: block; transition: right 0.3s; position: fixed; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;"><div class="grecaptcha-logo"><iframe title="reCAPTCHA" width="256" height="60" role="presentation" name="a-p39s4qhrwdir" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation" src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol&amp;co=aHR0cHM6Ly9jYXBlZGdlLmNvbTo0NDM.&amp;hl=en&amp;v=EGbODne6buzpTnWrrBprcfAY&amp;size=invisible&amp;cb=1jqk4k4hg3ed"></iframe></div><div class="grecaptcha-error"></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea></div><iframe style="display: none;"></iframe></div>
				<button type="button" class="btn btn-sm prevent-double-click" id="add-note-button"><i class="fe fe-plus-circle"></i></button>
			</div>
			<div class="dropdown" id="note-sort">
				<button class="btn btn-sm" type="button" id="dropdownMenuButton" data-toggle="dropdown">
					<i class="fe fe-settings"></i>
				</button>
				<div class="dropdown-menu dropdown-menu-right">
					<h6 class="dropdown-header">Sort notes by</h6>
					
					<button class="dropdown-item active" data-sort="created">Created</button>
					
					<button class="dropdown-item" data-sort="updated">Updated</button>
					
					<button class="dropdown-item" data-sort="title">Alphabetical</button>
					
				</div>
			</div>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="notes-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="notes-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder" data-limit="" data-count="0" data-num-displayed="" data-per-page="20"></ul>
	<div id="note-list-end"></div>
</div>
            </div>
            

            <div class="col order-1 resp-container resp-sm resp-md" id="main-col" data-observe-resizes="true">

              <div class="d-flex flex-column">
                
                  
<div class="row mb-3 d-print-none secondary-menu-row order-2">
    <div class="col">
        <ul class="nav nav-tabs align-items-center px-4" id="secondary-menu" data-test="secondaryMenu">
            
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT">
                        <span class="tab-ticker">OPTT</span> Dashboard
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/financials">
                        Financials
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/filings">
                        Filings
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/transcript/by/companyId/1378140">
                        Transcripts
                    </a>
                </li>
                
                <li class="nav-item separator"></li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/etfs">
                        ETFs
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/insider-ownership-history">
                        Insider
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/institutional-ownership-history">
                        Institutional
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/short-interest">
                        Shorts
                    </a>
                </li>
                
                <li class="nav-item separator"></li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/1378140/OPTT/news">
                        News
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/patent/by/companyId/1378140">
                        Patents
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/social/by/companyId/1378140">
                        Reddit
                    </a>
                </li>
                
                
                <li class="nav-item active" data-test="secondaryMenuItem">
                    <div class="nav-link" href="https://capedge.com/transcript/1378140/2025Q1/OPTT">
                        2025 Q1 Transcript
                    </div>
                </li>
                
                
        </ul>
    </div>
</div>
                  

                
                  
<div class="row align-items-center py-6">
    <div class="col">
        <h1 class="page-title" data-test="pageTitle">
            
                <span class="company-name">
                    Ocean Power
                    
                        (OPTT)
                        
                </span>
                
                
            
            <span class="banner-crumb">17 Sep 24</span><span class="banner-crumb">2025 Q1 Earnings call transcript</span>
        </h1>
        
        
        <div class="my-1 text-muted-dark">
            
            Company Profile
            
        </div>
        
    </div>
    
    
</div>

                
              </div>

              <div class="row" id="main-content-cols">
                
                <div class="col order-1 sticky-scrolly mobile-toggle-only-one d-print-none  default-sidebar-column" id="sidebar-col">
                  <div class="text-center mb-5 mobile-toggle-button-cont"><button type="button" class="btn btn-sm btn-outline-primary ml-auto" data-click-toggle="sidebar-col">&lt; Back</button></div>
                  <div class="transcript-sidebar">
    <div class="sidebar-annotations-container"><div class="annotator-editor card" style="display: none;">
  <form>
    <div class="card-header"><div class="card-title not-in-menu"><div class="d-block">Add <span class="annotation-type"></span></div></div></div>
    <div class="card-body">
      <ul class="annotator-listing"><li class="annotator-field form-group"><div class="quote" id="annotator-field-0" placeholder="Quote"></div></li><li class="annotator-field form-group"><textarea rows="3" class="form-control" id="annotator-field-1" placeholder="Comments…"></textarea></li><li class="annotator-field form-group"><label class="custom-switch pl-0"><input type="checkbox" class="custom-switch-input" id="annotator-field-2" placeholder="Visible to public"><span class="custom-switch-indicator"></span><span class="custom-switch-description">Visible to public</span></label></li><li class="annotator-field form-group"><input type="hidden" class="form-control" id="annotator-field-3" placeholder="In Reply To"></li></ul>
      <div class="annotator-controls d-flex justify-content-between">
        <button class="btn btn-primary annotator-save annotator-focus">Save <span class="annotation-type"></span></button>
        <button class="btn btn-link annotator-cancel">Cancel</button>
      </div>
    </div>
  </form>
</div><div class="annotator-viewer card" style="display: none;">
        <div class="card-header">
            <div class="card-title">Annotations</div>
            <button type="button" class="btn btn-light ml-auto mobile-toggle-button-cont" id="close-mobile-annotations"><i class="fe fe-x"></i></button>
        </div>
        <ul class="card-body annotator-listing"></ul>
    </div></div>
    <div class="card">
  <div class="card-header">
    <div class="card-title">Share this transcript</div>
  </div>
  <div class="card-body">
    <ul class="social-links list-inline mb-0">
      <li class="list-inline-item m-0">
        <a href="https://twitter.com/share?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1378140%2F2025Q1%2FOPTT" target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Twitter"><i class="fe fe-twitter"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1378140%2F2025Q1%2FOPTT&amp;title=OPTT%20-%20Earnings%20call%20transcript%20Q1%202025%20%7C%20Ocean%20Power%20Technologies%2C%20Inc." target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via LinkedIn"><i class="fe fe-linkedin"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="mailto:?subject=OPTT%20-%20Earnings%20call%20transcript%20Q1%202025%20%7C%20Ocean%20Power%20Technologies%2C%20Inc.&amp;body=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1378140%2F2025Q1%2FOPTT" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Email"><i class="fe fe-mail"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="#" id="print-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Print"><i class="fe fe-printer"></i></a>
      </li>
      <li class="list-inline-item mr-0">
        <a href="#" id="copy-link-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Copy URL to clipboard"><i class="fe fe-link"></i></a>
      </li>
    </ul>
  </div>
</div>

    
<div class="card">
    <div class="card-header">
        <div class="card-title">Recent OPTT transcripts</div>
    </div>
    <ul class="container transcript-sidebar-list list-unstyled">
        
            <li>
                
<a class="row item-row d-block transcript active" href="/transcript/1378140/2025Q1/OPTT">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2025 Q1</div>
        </div>
        <div class="date">17 Sep 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/1378140/2024Q4/OPTT">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q4</div>
        </div>
        <div class="date">26 Jul 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/1378140/2024Q3/OPTT">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q3</div>
        </div>
        <div class="date">14 Mar 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/1378140/2024Q2/OPTT">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q2</div>
        </div>
        <div class="date">14 Dec 23</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/1378140/2024Q1/OPTT">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q1</div>
        </div>
        <div class="date">14 Sep 23</div>
    </div>
    
</a>

            </li>
        
    </ul>
</div>



    
<div class="card">
    <div class="card-header">
        <div class="card-title">Associated OPTT filings</div>
    </div>
    <ul class="card-body filing-sidebar-list list-unstyled mb-0">
        
            <li class="clearfix ">
    <a href="/filing/1378140/0001493152-24-036423/10Q-2025Q1" class="text-truncate filing-link">
        
        <span class="filing-date">2025 Q1</span>
        
        
        <span class="text-nowrap filing-type type-10Q type-financial">10-Q</span>
        
        <span class="filing-description ">Quarterly report</span>
    </a>
    
</li>

        
    </ul>
</div>



</div>

                </div>
                
                <div class="col order-2">


<button type="button" class="btn btn-sm btn-outline-primary mb-5 mx-auto d-block mobile-toggle-button-cont" data-click-toggle="sidebar-col"><i class="fe fe-more-vertical"></i> Transcript menu</button>

<div class="card transcript">
    <div class="card-header">
        <div class="card-title">Participants</div>
    </div>
    <div class="card-body">
        <table class="participant-list">
            
            <tbody><tr class="participant">
                <td class="name">Robert Powers</td>
                <td class="role">executive</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Philipp Stratmann</td>
                <td class="role">executive</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Jeffrey Grampp</td>
                <td class="role">analyst</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Shawn Severson</td>
                <td class="role">analyst</td>
            </tr>
            
        </tbody></table>
    </div>
</div>





<div class="card transcript">
    <div class="card-header">
        <div class="card-title">Call transcript</div>
    </div>
    <div class="card-body transcript-container">
        
        
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Greetings, and welcome to the Ocean Power Technologies' Fiscal Year 2025 Q1 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.</p>
                        <p>It's now my pleasure to turn the call over to Chief Financial Officer, Bob Powers. Please go ahead, sir.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Robert Powers</div>
                <div class="content">
                    <p>Thank you, and good morning. After the market closed yesterday, we issued our earnings press release and filed our quarterly report on Form 10-Q for the period ended July 31, 2024.</p>
                        <p>Our public filings are available on the SEC website and within the Investor Relations section of the OPT website.</p>
                        <p>During this call, we will make forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.</p>
                        <p>Forward-looking statements may include financial projections or other statements of the company's plans, objectives, expectations or intentions. These statements are based on the assumptions made by management regarding future circumstances over which the company may have little, or no control, and involve risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements.</p>
                        <p>Additional information about these risks and uncertainties can be found in the company's Form 10-K and subsequent filings with the SEC.
The company disclaims any obligation or intention to update the forward-looking statements made on this call.</p>
                        <p>Finally, we posted an updated Investor presentation on our IR website. Please take a moment to review it as it provides a nice overview of our company and strategy.</p>
                        <p>Now I am pleased to introduce Dr. Philipp Stratmann.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Thank you, Bob. Good morning. We appreciate you joining us.</p>
                        <p>The first quarter of fiscal 2025 saw us continue to make significant progress towards positive cash flow in calendar year 2025 for our company.</p>
                        <p>This quarter saw us advance several strategic partnerships with established and highly reputable companies, materially reduce our operating expenses, progress our technical advancements to support further commercial growth and build upon the significant increase in pipeline we achieved during fiscal 2024.</p>
                        <p>Today, I will focus on the significant developments occurring recently and the resulting confidence they provide toward achieving our goals for fiscal 2025.</p>
                        <p>First, we recently announced that we completed more than 4 months of offshore testing of our next-generation PowerBuoy in the Atlantic Ocean off New Jersey. This solar and wind power equipped next-generation PowerBuoy was equipped with our proprietary artificial intelligence capable Merrows suite of solutions. The system maintained 100% data uptime and the state of charge of the batteries remained over 90% throughout the deployment.</p>
                        <p>During the deployment, several intelligence surveillance and reconnaissance demonstrations for potential customers were completed.</p>
                        <p>Additionally, in May 2024, we announced we were approaching 15-megawatt hours of renewable energy production from our family of PowerBuoys. The just mentioned deployment of our next-generation PowerBuoy off the coast of New Jersey materially accelerated average energy production by combining solar, wind and wave energy production capabilities.</p>
                        <p>Our energy production numbers show that non-grid connected marine energy production is not just for the R&amp;D community, but is a commercially available solution.</p>
                        <p>Finally, we recently announced our patent application for our docking and recharging buoy technology specifically designed for the WAM-V. This advanced system has already been successfully demonstrated, showcasing its potential to revolutionize the operational efficiency of autonomous marine vessels. This development aligns with our broader strategy to enhance the functionality and versatility of our Merrows platform, bringing artificial intelligence capable solutions to the ocean, thereby expanding our market reach and supporting a variety of customer needs. Each of these innovations stands as a testament to OPT's dedication and leadership role in supporting the security and protection of global waterways and positions us to capitalize on the expected growth in these areas while solidifying the company's unique position as a groundbreaking systems provider.</p>
                        <p>In addition, we advanced strategic alliances with a number of complementary industry leaders. In August 2024, we announced the signing of the latest of 4 new reseller agreements targeted supporting global critical services. These agreements include opportunities for partnering with allied nations in areas like the South China Sea, previously announced efforts in Latin America and the Middle East and servicing global commercial markets.</p>
                        <p>We also announced additional developments in our integration of AT&amp;T's 5G systems for our PowerBuoys, most notably for the deployment of the Naval Postgraduate School and the integration of Teledyne Marine's industry-leading suite of underwater sensors. These partnerships provide the amplification for us to proactively serve the demand for our autonomous maritime technologies.
We believe these partnerships will further accelerate our growth and drive additional revenue streams. We look forward to further strategic partnerships in the near future, specifically focused on supporting our expanding efforts in Latin America and the Middle East.</p>
                        <p>Finally, as Bob will detail momentarily, during Q1, we realized the initial benefits of the significant cost reduction activities we implemented at the end of fiscal 2024, including significant reductions in cash burn and operating expenses.
In closing, our business is performing well.</p>
                        <p>As a result of the foundation and opportunities I've just described, we remain on track to achieve our previously stated goal of attaining profitability during the fourth quarter of calendar 2025.</p>
                        <p>Now I will hand it over to Bob to discuss our financial performance in more detail.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Robert Powers</div>
                <div class="content">
                    <p>Thanks, Scott.</p>
                        <p>Let's begin with revenue. In Q1 '25, our revenues were $1.3 million, in line with the $1.3 million in revenue we experienced in Q1 '24. A number of opportunities in our backlog experienced delays beyond our control, and these are now expected to be realized in Q2 and Q3 of FY '25.</p>
                        <p>Our pipeline stands at approximately $92 million and represents the largest pipeline in the history of the company.</p>
                        <p>Our operating expenses for Q1 '25 amounted to $4.9 million, a 39% decrease as compared to the operating expenses last year. This reduction was a result of head count optimization, material reductions in third-party spend and efforts to tightly control and contain costs.</p>
                        <p>As for the net result, we reported a decrease in our net loss of over 35% for Q1 '25, primarily driven by the decrease in operating expenses I just noted.</p>
                        <p>Finally, our backlog at July 31, 2024, stands at $5.3 million, a 71% increase as compared to the $3.1 million in the prior year. A significant portion of this increase is driven by our previously announced recent expansion into Latin America as well as the recurring revenue to be generated under long-term leasing contracts.</p>
                        <p>On the balance sheet front, our combined cash, restricted cash, cash equivalents and short-term investments as of July 31, 2024, totaled $3.3 million as compared to the $26.9 million balance for Q1 '24.
Notably, we continue to maintain a debt-free balance sheet with no bank debt in our financial structure.</p>
                        <p>In terms of cash flow, the net cash used in operating activities for the first quarter amounted to $6.1 million. This primarily reflects our net loss, the payout of employment bonuses accrued during fiscal year 2024 and the payment of the earnout accrued during fiscal '24. Investments in inventory necessary in order to satisfy the increase in backlog previously noted as well as our planned growth in revenue for fiscal 2025.
That covers our financial update.</p>
                        <p>Before we enter Q&amp;A, I'd like to remind everyone that the purpose of today's call is to discuss our fiscal 2025 first quarter results as well as our financial outlook.</p>
                        <p>As we head into the Q&amp;A, we ask that you limit your questions to these topics. Thank you.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>[Operator Instructions] Our first question is coming from Jeffrey Grampp from Alliance Global Partners.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jeffrey Grampp</div>
                <div class="content">
                    <p>First question on the pipeline. Can you guys maybe peel the onion back a little bit more? What do you guys’ kind of attribute the main drivers for the continued increase there? And also related, I guess, curious if you can touch on perhaps how the sales team has evolved, I don't know, either in terms of size or approach maybe over the last few quarters or year that might also be driving that pipeline growth?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Jeff, I think there's a range of factors. I mean there is -- one is broader geopolitical factors that impact an increasing demand for autonomous ocean security and ocean monitoring systems. And I think that's on the defense and security side, you see it every day, you look at the news. There is also on the domestic side, an increasing appetite and funding available from our government to help support standing up the next generation of autonomous systems to be deployed within the U.S. warfighter community.</p>
                        <p>So that's on the geopolitical side.</p>
                        <p>I think on the other side, what we have done over the past few years is making sure that our systems are ready, commercially available and able to be dropped into exercises where we can then showcase their capabilities to the end user community and then drive that growth forward.</p>
                        <p>So that's on the defense and security side. There is also an ongoing desire for anybody operating offshore to lower their OpEx, lower CapEx requirements and get access to more ocean data at a much lower cost point and with less carbon emissions than would have been done through traditional means. But all of those factors combined are helping us keep on increasing the backlog at the same time as we are maintaining revenues, gross margin and lowering our overall burn.
To the other point on the sales team, one of the big evolutions that the sales team has gone through is that we have a sales team that is focused and understands the U.S. government defense and security, overseas government and also understands the kind of the overall marine technology sector. And because of that, they are able to help create solutions that our end customers can then take to their end customers and help have that integrated. And I think all of that combined is what keeps on growing the pipeline and helps us convert pipeline to backlog, which we're excited about then will lead to increased revenues.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jeffrey Grampp</div>
                <div class="content">
                    <p>Great. And with respect to the orders and the guidance you guys put out last quarter, I don't know if you disclosed orders explicitly, I kind of backed into a number maybe a little short of $2 million for the quarter. I guess, first, does that sound about right? And then, I just wanted to make sure you guys still feel good or on track about that order guidance for this fiscal year.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Yes. We still feel good about where things are heading and trending.</p>
                        <p>You've seen the increase in backlog from what we had at the beginning of the fiscal year.</p>
                        <p>So we've increased backlog, but we also maintained revenues versus this quarter a year ago.</p>
                        <p>So I think combined with those efforts and with what we're seeing in the growth in the pipeline, we feel good with where we're heading.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jeffrey Grampp</div>
                <div class="content">
                    <p>Perfect. And if I can just sneak one more in. OpEx obviously came down pretty nicely year-over-year. Is there anything left to do on that front or is that kind of a reasonable steady state to think about going forward, at least in kind of the near medium term?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Yes, I think we've done a lot of the hard work that was required to really bring OpEx down.</p>
                        <p>I think you will see potentially some marginal fluctuation, but that's really going to be due to embedding and having full quarter effects of the last efforts that were implemented. And we continue to make sure that we manage and contain costs tightly.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Next question is coming from Shawn Severson from Water Tower Research.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Shawn Severson</div>
                <div class="content">
                    <p>I was looking at your -- at the new deck, you have a slide in there about market capitalization upside. And my question kind of relates to the commercial readiness of the sector overall. I know you put some different sectors in there and talked about market valuation. But my question is more about where do you compare and contrast in terms of your commercialization inflection point, let's say, versus some of these other companies that are in the industry to get many of them are private. I don't think investors fully know or understand where they're at.</p>
                        <p>So can you give us some color on where you are in the greater scheme versus that comp group, let's say?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Where we see OPT and you look at it, Jeff just asked the question, and you've seen it in our numbers, the pipeline continues to grow. But it's -- the backlog continues to grow; we've achieved a good level of gross margin.</p>
                        <p>So from a commercial readiness perspective, we're ready, the systems are there, and the demand signals are there. And it's no longer demand signals. The demand signals are being converted into actual backlog and then into revenues.</p>
                        <p>I think when you're looking at what's going on in the market in general, I think the market, overall, is very ready, and there is a good combination of technologies that is available commercially in the market, particularly on the autonomy side. I would say that on the buoy side, where we're at, we feel strongly that the systems we have are commercially deployable and ready, and we're seeing that through the projects like the further advances we are making with Naval Postgraduate School and AT&amp;T, with the efforts that we've got ongoing with the buoy that we're shipping to the Middle East. Those are all really encouraging because what those show is that those are projects now being done through third parties that are not grant funded. This is actual use cases for these systems being deployed.
And I think -- but probably because -- to the other part of your question, there's probably less of visibility into what goes on in the public markets, mainly because there aren't many ocean technology providers that are on the public side.</p>
                        <p>So I think we feel good about where we are commercially. We think it is a very robust market with a large TAM, and we feel comfortable and confident in the growth that we're seeing and that it will continue to accelerate and help deliver value for all of our shareholders.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Shawn Severson</div>
                <div class="content">
                    <p>And next question is a long-term modeling question.</p>
                        <p>As we're trying to build out as the pipeline and backlog starts to convert, trying to understand what the mix of the business whether it's a targeted mix of the business would look like between data-as-a-service and equipment sales.</p>
                        <p>So again, this is from a long-term modeling perspective, trying to understand what you think the business would look like when it's a little -- when it's matured a little bit more and in full commercialization scale.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>I think -- let's look at this, take a step back from that and let's look at really what the end customer industry mix is.</p>
                        <p>I think we see about 50-plus-percent of the business being on the defense and security side and the balance really being on commercial with a little bit of research and science type work. And it's going to vary across those segments.</p>
                        <p>If you're looking at the commercial side, that is a strong and robust long-term leasing model. We're very pleased and thankful for the partnership we have with companies like Sulmara, who've got several of our systems on long-term leases. And that is a great recurring revenue business where we are layering in maintenance into that, and it helps both sides of the equation.</p>
                        <p>Then there's others where we're doing long-term leases during exercise phases for defense and security customers. And I think then what we are going to start seeing is increasing sales to defense and security customers, particularly on, I think, on some of the buoy sites, but then with additional service layered on top of that. And that's really going to come down to the fact that if it is short-term deployments for monitoring, yes, that's probably going to be leased.
If it is long-term deployments into a specific region for a specific customer who wants to own it and have it in that region, that's going to be a sale. And as we've said before, sales is what's going to help us scale up quickly, but the lease model is what's going to give us the long-term free cash flow and healthy margins that we're all looking forward to.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Shawn Severson</div>
                <div class="content">
                    <p>My last question is on the technology road map. I'm fully aware that you guys have -- this is -- you've already made significant investments, the technology is there, it's commercial. But when you look out to the future, Phil, what do you see as a couple of other points where you think, well, if we could do this or we could do that to improve it maybe not necessarily reinventing the wheel, but do you have things that you're focused on for technology improvements over the next 24 months?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Yes, it varies. I mean, obviously, we never stand still.</p>
                        <p>Our customers know that we are continuously working on integrating any feedback they have from having operated our systems in regions where we haven't previously operated or towing systems, we haven't previously towed. And then we'll issue it field service bulletin and then we'll work through some continuous improvement program and then we'll provide additional maintenance systems, say, for example, at a later stage.</p>
                        <p>At the bigger level, obviously, we just announced that we completed the month of offshore testing for the next-gen PowerBuoy.</p>
                        <p>So I think that's -- obviously we're really glad that, that performed above and beyond any expectations that we had.</p>
                        <p>We are continuing to work on the integration of the remote charging and docking opportunities. And I think that is really exciting because that is what's going to enable collaboration, not just with our systems, but with a whole range of autonomous systems out in the ocean.
Imagine a system where you have buoys deployed that essentially add like charging stations out in the ocean and then you have a range of autonomous vehicles, initially ours and later on others, I can go and do their work, come alongside buoy, charge-up, offload the data, the data gets processed and then you re-task it. At that point, you really start moving into autonomous offshore operations. We've already announced that we filed a patent for the remote charging and docking systems. And we look forward to continuing working on integration in this kind of system of systems approach for autonomous ocean technology that uses 0 or low carbon production.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>We reached the end of our question-and-answer session. I'd like to turn the floor back over for any further or closing comments.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Philipp Stratmann</div>
                <div class="content">
                    <p>Thank you for being a shareholder and for supporting our ongoing growth and execution of our strategy. We look forward to continuing to deliver for you, our customers and all of our stakeholders. Thank you, and have a great day.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Thank you. That does conclude today's teleconference and webcast.</p>
                        <p>You may disconnect your line at this time, and have a wonderful day. We thank you for your participation today.</p>
                        
                </div>
            </div>
        
    </div>
</div>

                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      
<footer class="footer">
    <div class="container">
        <div class="row py-5">
            <div class="col-12 col-lg-auto">
                <a href="https://finsight.com" target="_blank" rel="noopener" class="no-icon mb-5 mb-lg-0">
                    <img src="/img/finsight.svg" alt="Finsight">
                </a>
            </div>
            <div class="col-12 col-lg-auto ml-lg-auto">
                <div class="row">
                    <div class="col">
                        <div class="link-title">Resources</div>
                        <ul class="list-unstyled">
                            <li><a href="https://help.capedge.com/" target="_blank">Knowledgebase</a></li>
                            
                                <li>
                                    <form action="/user/logout" method="post">
                                        <button type="submit" class="btn btn-link">Logout</button>
                                    </form>
                                </li>
                            
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">Company</div>
                        <ul class="list-unstyled">
                            <li><a href="https://finsight.com/about" target="_blank" rel="noopener">About</a></li>
                            <li><a href="https://finsight.com/contact-us" target="_blank" rel="noopener">Contact</a></li>
                            <li><a href="https://finsight.com/our-solutions" target="_blank" rel="noopener">Solutions</a></li>
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">Products</div>
                        <ul class="list-unstyled">
                            <li><a href="https://dealroadshow.finsight.com/" target="_blank" rel="noopener">Deal Roadshow</a></li>
                            <li><a href="https://dealvdr.com/" target="_blank" rel="noopener">DealVDR</a></li>
                            <li><a href="https://evercall.co/" target="_blank" rel="noopener">Evercall</a></li>
                            <li><a href="https://finsight.com/" target="_blank" rel="noopener">Finsight.com</a></li>
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">CapEdge</div>
                        <ul class="list-unstyled">
                            <li><a href="/earnings-calendar">Earnings Calendar</a></li>
                            <li><a href="/transcript/by/companyId/all">Earnings Transcripts</a></li>
                            <li><a href="/search?q=">EDGAR Filing Screener</a></li>
                            <li><a href="/ipo-calendar">IPO Calendar</a></li>
                        </ul>
                    </div>
                </div>
            </div>
        </div>
    </div>

    <div class="footer-bottom">
        <div class="container">
            <div class="row align-items-center">
                <div class="col-12 col-lg-auto">
                    <ul class="list-inline mb-0">
                        <li class="list-inline-item"><a href="https://finsight.com/compliance" target="_blank" rel="noopener">Compliance</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/privacy-policy" target="_blank" rel="noopener">Privacy</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/security-policy" target="_blank" rel="noopener">Security</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/terms-of-use" target="_blank" rel="noopener">Terms</a></li>
                    </ul>
                </div>
                <div class="col footer-icons text-lg-right">
                    <a href="https://angel.co/company/finsight-group" target="_blank" rel="noopener" class="no-icon">
                        <img src="/img/angel.svg" alt="AngelList">
                    </a>
                    <a href="https://www.linkedin.com/company/finsight/" target="_blank" rel="noopener" class="no-icon">
                        <img src="/img/linkedin.svg" alt="LinkedIn">
                    </a>
                </div>
            </div>
        </div>
    </div>
</footer>


    </div>

    
    <div class="cookiesBanner_container cookiesBanner_container__visible">
    <i class="cookiesBanner_close">
        <svg width="16" height="16" viewBox="0 0 16 16" xmlns="http://www.w3.org/2000/svg">
            <path d="M8.58719 7.3231C8.93627 7.67218 8.93627 8.23816 8.58719 8.58724C8.2381 8.93633 7.67213 8.93633 7.32304 8.58724L0.261813 1.52597C-0.0872709 1.17689 -0.0872709 0.61091 0.261813 0.261825C0.610896 -0.0872605 1.17687 -0.0872605 1.52596 0.261825L8.58719 7.3231Z"></path><path d="M1.52595 15.7382C1.17687 16.0873 0.610892 16.0873 0.261808 15.7382C-0.087275 15.3891 -0.0872754 14.8231 0.261808 14.474L7.32304 7.41277C7.67212 7.06368 8.2381 7.06368 8.58718 7.41276C8.93626 7.76185 8.93626 8.32783 8.58718 8.67691L1.52595 15.7382Z"></path><path d="M7.4128 8.6769C7.06372 8.32782 7.06372 7.76184 7.4128 7.41275C7.76189 7.06367 8.32786 7.06367 8.67695 7.41275L15.7382 14.474C16.0873 14.8231 16.0873 15.3891 15.7382 15.7382C15.3891 16.0873 14.8231 16.0873 14.474 15.7382L7.4128 8.6769Z"></path><path d="M14.474 0.261814C14.8231 -0.0872713 15.3891 -0.0872713 15.7382 0.261814C16.0873 0.610899 16.0873 1.17688 15.7382 1.52596L8.67695 8.58723C8.32787 8.93632 7.76189 8.93632 7.41281 8.58723C7.06373 8.23815 7.06373 7.67217 7.41281 7.32309L14.474 0.261814Z"></path>
        </svg>
    </i>
    <div class="cookiesBanner_content">
        <p class="cookiesBanner_text">
            We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our&nbsp;<a class="cookiesBanner_cookiesBannerLink__dvqOM" href="https://finsight.com/privacy-policy#cookiesPolicy" target="_blank">Cookie Policy</a>&nbsp;for more information.
        </p>
        <button type="button" class="cookiesBanner_btn btn btn-primary">I&nbsp;Agree</button>
    </div>
</div>
    

    
    <div class="modal fade" id="modalAddFavourite" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Add favorites</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>

      <div class="modal-body">
        <ul class="nav nav-tabs" id="faveTabs" role="tablist">
          <li class="nav-item">
            <a class="nav-link active" id="manual-tab" data-toggle="tab" href="#manual" role="tab" aria-controls="manual" aria-selected="true">Choose</a>
          </li>
          <li class="nav-item">
            <a class="nav-link" id="upload-tab" data-toggle="tab" href="#upload" role="tab" aria-controls="upload" aria-selected="false">Upload list</a>
          </li>
        </ul>
        <div class="tab-content mt-3 pt-2" id="faveTabContent">
          <div class="tab-pane fade show active" id="manual" role="tabpanel" aria-labelledby="manual-tab">
            <form method="post" action="/user/batch-fave" spellcheck="false" autocomplete="off" id="batch-favorite-form">
  <input type="hidden" name="referrer" value="">

    <p>Type tickers, company names, or new folder names to organize your favorites.</p>
    <div class="tokenInput tokeninput-container fake-input fake-input-lg">
        <input type="text" placeholder="Ticker, company name, or new folder name…" name="favourites" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" size="42">
    <script class="tokeninput-data" type="application/json">
    {
    "resultDataProp":"companies",
    "resultTextProp":"name",
    "resultValueProp":"companyId",
    "url":"/search/company?needsXbrl=false&active=true&num=5&allowMultiple=true&q=$query",
    "values":[],
    "type":"lookup",
    "completionGroups" : {
      "companies" : { "heading" : "Companies", "newOption" : false, "singular" : "company" },
      "folders" : { "heading" : "Folder", "newOption" : true, "singular" : "folder" }
      }
    }
    </script>
    </div>
    


  <div class="d-flex mt-6 justify-content-between">
    <button type="submit" class="btn btn-primary">Add favorites</button>
    <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
  </div>
</form>
          </div>
          <div class="tab-pane fade" id="upload" role="tabpanel" aria-labelledby="upload-tab">
            <div id="fave-upload-container">
  <form method="post" action="/user/add-from-favorite-file">

      <div class="not-uploaded">
        <p>
          Upload a CSV, TSV or Excel file of favorites to add (max 5 MB). We'll try to detect columns of tickers, company names, CIKs or CUSIPs. It doesn't
          matter if the file has a header row or not, what order the columns are in, or if you include additional columns that are exported from another system.
        </p>
        <p>
          If you want to organize your favorites into folders, then include a header row, with a column named <strong>Folder</strong> to
          specify a folder for each favorite, e.g. (in this example, the name column is optional):
          </p><pre>  Name,Ticker,Folder
  Apple Inc,AAPL,Watchlist
  Tesla Inc,TSLA,Watchlist
  Microsoft Inc,MSFT,Portfolio</pre>
        <p></p>
        <p>
          If you want to upload a list of favorite searches, then include a header row, with a <strong>Name</strong> column for the search
          terms, and a <strong>Type</strong> column with the value <em>search</em>, along with an optional <strong>Folder</strong> column e.g.
          </p><pre>  Type,Folder,Name
  search,Future Tech,bitcoin OR cryptocurrency
  search,Future Tech,S-1 drones
  search,Green Energy,TSLA "renewable energy"</pre>
        <p></p>
      </div>
      <div class="uploaded-only">
        <table id="matched-upload-table" class="table table-sm">
          <thead>
            <tr>
              <th></th>
              <th colspan="2" class="uploaded-count">Uploaded</th>
              <th colspan="2" class="matched-count">Matched</th>
              <th class="folder-only">Folder</th>
            </tr>
          </thead>
          <tbody></tbody>
        </table>
        <input type="hidden" name="uploadData" id="upload-data" value="">
        <div class="mt-5 p-3 bg-blue-lightest">
          <h6>Important:</h6>
          <div class="form-check">
            <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingAdd" value="add" checked="">
            <label class="form-check-label" for="actionExistingAdd">Add to existing favorites</label>
          </div>
          <div class="form-check">
            <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingReplace" value="replace">
            <label class="form-check-label" for="actionExistingReplace">Remove existing favorites that are not in this list</label>
          </div>
        </div>
      </div>


    <div class="d-flex mt-6 justify-content-between">
      <label class="btn btn-primary not-uploaded" for="upload-faves" id="upload-fave-button">
        Upload favorites list…
        <input type="file" id="upload-faves" class="d-none" name="files">
      </label>
      <button type="submit" class="btn btn-primary uploaded-only">Add selected favorites</button>
      <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
    </div>
  </form>
</div>
          </div>
        </div>
      </div>

    </div>
  </div>
</div>

    <div class="modal fade" id="modalRenameFolder" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Rename folder</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="/user/rename-fave" spellcheck="false" autocomplete="off">
        <div class="modal-body">
          <input type="text" class="form-control" placeholder="Type new folder name…" name="documentSpecifier" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" pattern="[^<>]+">
          <input type="hidden" name="documentId" value="">
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
          <button type="submit" class="btn btn-primary">Rename</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="modal fade" id="modalAlertSettings" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Alert feed settings</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="/user/settings" autocomplete="off" id="alert-settings-form" class="no-reset-on-close">
        <div class="modal-body">
          <p>Choose the information that appears in your CapEdge alert feed. You'll see alerts for information that matches your favorite companies.</p>
          <div class="custom-controls-stacked mt-3">
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="ldb" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Filings</span>
                </label>
                <div class="pl-7 text-muted">New filings from SEC.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="news" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">News</span>
                </label>
                <div class="pl-7 text-muted">Full news stories, breaking headlines, and press releases.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="social" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Social</span>
                </label>
                <div class="pl-7 text-muted">Message threads from Reddit.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="user" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Community content</span>
                </label>
                <div class="pl-7 text-muted">New community notes and annotations.</div>
            </div>
            
          </div>
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
          <button type="submit" class="btn btn-primary">Update alerts feed settings</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="modal fade" id="modalSendToNote" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Add to note</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="#" class="no-disable" spellcheck="false" autocomplete="off">
        <div class="modal-body">
          <p>The following content will be added to your chosen note:</p>
          <div id="fragment-preview" class="my-3 text-muted"></div>
          <p>Search or choose a recent note below:</p>
          <div class="tokenInput tokeninput-container fake-input fake-input-lg">
              <input type="text" placeholder="Search your note titles…" name="noteSearch" autocomplete="off" autocorrect="off" autocapitalize="off" tabindex="1" autofocus="on" size="25">
              <script class="tokeninput-data" type="application/json">
              {
                  "resultDataProp":"results",
                  "resultTextProp":"title",
                  "resultValueProp":"id",
                  "url":"/note/notesearch?limit=3&query=$query",
                  "type":"lookup",
                  "completionGroups" : {
                      "bestmatch" : { "heading" : "Best Match" },
                      "notes" : { "heading" : "Notes", "newOption" : true, "singular" : "note" }
                  }
              }
              </script>
          </div>
          <div id="send-recent-list"></div>
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal" tabindex="2">Cancel</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="dropdown-menu dropdown-menu-sm" id="user-feed-context-menu">
  <a class="dropdown-item context-open" href="#">Open</a>
  <a class="dropdown-item context-open" href="#" target="_blank">Open in new tab</a>
  <div class="dropdown-divider"></div>
  <a class="dropdown-item context-delete" href="#">Delete</a>
</div>
    

    

    

    <div style="display:none" id="google-id" data-id="G-REPSH58KSM,UA-113590965-4"></div>

<div style="display:none" id="google-tag-id" data-id="GTM-5KBPWNG"></div>
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-5KBPWNG" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>

    
        <script src="https://www.google.com/recaptcha/api.js" async="" defer=""></script>
    
    <script type="application/json" id="user-data">{"id":"665437da02f04742ce51dd52","loggedIn":true,"settings":{"emailNewFilings":false,"emailSearches":true,"emailCommunityContent":true,"emailProductUpdates":true,"enableAnnotations":true,"enableReadCheckbox":false,"subscribedEmailFilingGroups":["financial","news","registration","proxy","other","ownership"],"subscribedEmailFilingTypes":[],"subscribedCommunityNotifications":["repliesToMine","newOnAnnotated"],"periodicEmailSchedule":"never","stockChartComparison":true,"stockChartPeriod":"1m","toggleFavouritescol":false,"toggleNotescol":true,"toggleAlertscol":true,"collapsedFolders":[],"collapsedCards":[],"annotationsPublic":false,"disableEmailNotes":false,"hideNextSteps":false,"alertTypes":["ldb","news","social","user"],"emailSearchesSchedule":"realtime","folderSettings":[]},"plan":"free"}</script>
    <script type="application/json" id="init-data">{"annotationDocumentRoot":".transcript-container","annotationDocumentType":"transcript","annotationDocumentId":"OPTT_3401787","annotationCompanyId":1378140}</script>
    <script src="/js/dist/initial.js?v=20240925T124303"></script>
    <script src="/js/dist/build.js?v=20240925T124303" defer=""></script>
    
    <script src="/js/dist/annotator.js?v=20240925T124303" defer=""></script>
    
    
    
  


<script async="" src="/js/dist/annotator-frame.js"></script><div class="annotator-adder" style="display: none;"><button type="button" class="sendTo">Add to note</button><button type="button" class="create">Annotate</button></div></body></html>