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OPT € Ocean Power Technologies Announces First Quarter Fiscal 2027 Results September 14 , 2026 Quarter highlighted by operational execution , expanding defense - market access and continued development of persistent autonomous maritime infrastructure MONROE TOWNSHIP , N.J. , Sept. 14 , 2026 ( GLOBE NEWSWIRE ) -- Ocean Power Technologies , Inc. ( " OPT " or the " Company " ) ( NYSE American : OPTT ) today announced financial results for its fiscal 2027 first quarter ended July 31 , 2026 ( Q1 2027 ) . Q1 2027 and Recent Highlights Operational execution and customer delivery • Operated three PowerBuoyⓇ systems concurrently in support of U.S. Department of Homeland Security ( " DHS " ) maritime domain awareness operations off the coast of Southern California . The systems transmitted real - time offshore data as a distributed network and were integrated with Anduril Industries ' Lattice command - and - control platform . One system was deployed in water depths exceeding 1,000 meters . • Demonstrated sustained field performance from the DHS deployment . The program represents the largest deployment and recurring revenue contract in the Company's history and provides operational validation of OPT's ability to deploy and support persistent offshore infrastructure for defense and security customers . • Successfully deployed and commissioned a PowerBuoyⓇ system off the coast of New Jersey for Rutgers University , supporting ocean research , environmental monitoring and the integration of surface and subsea sensors . • Delivered a WAM - VⓇ unmanned surface vehicle to Stevens Institute of Technology within five weeks of receiving the order , demonstrating OPT's ability to convert customer orders into completed deliveries on accelerated timelines . Technology and portfolio expansion • Demonstrated autonomous docking , charging and redeployment of a WAM - V® , addressing a key operational constraint for unmanned maritime systems . OPT continues to advance the integration of this capability with its PowerBuoyⓇ platform to support longer - duration autonomous missions and persistent offshore operations . • Acquired strategic subsea developmental technology assets from Columbia Power Technologies , Inc. " C - Power " ) . The acquired intellectual property and engineering portfolio extends OPT's operational infrastructure capabilities from the ocean surface to the seabed and complements the Company's existing offshore power , autonomous vehicle , sensing , communications and Al - enabled software capabilities . Defense - market positioning • Achieved Cybersecurity Maturity Model Certification ( " CMMC " ) Level 2 compliance , strengthening the Company's readiness to pursue and support U.S. defense programs requiring the protection of Controlled Unclassified Information . • Subsequent to quarter end , was selected as one of six potential awardees under a $ 40 million multiple - award , indefinite- delivery / indefinite - quantity contract supporting the Naval Oceanographic Office . The contract creates an opportunity for OPT to compete for task orders involving high - resolution ocean - floor mapping services using long - endurance unmanned surface vehicles . The $ 40 million amount represents the aggregate ceiling across all awardees and does not constitute revenue awarded to OPT . Operating scalability and strategic review • Subsequent to quarter end , began implementing Palantir Foundry through the Palantir for Builders program , with Foxtrot Professional Services leading the implementation . The platform is intended to connect data and workflows across manufacturing , supply chain , deployment , fleet operations , maintenance and customer support as OPT develops a more scalable operating model . • The Company's Board of Directors initiated a review of strategic alternatives intended to identify opportunities to accelerate growth , expand market access , strengthen the Company's financial position and maximize stockholder value . Bowen , Inc. is serving as financial advisor . No timetable has been established , and there can be no assurance that the review will