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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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Equity Bottom-Up

Ocean Power Technologies / Equity Bottom-Up

<ul><li>Ocean Power Technologies reported 2QFY24 revenue of $0.9 million, up 193% Y/Y from $0.3 million in 2QFY23, driven by sales of WAM-V autonomous vehicles, the contract with the Department of Energy (DOE), and an increase in strategic consulting services.</li><li>The previous quarter had revenue of $0.2 million from leased boats.</li><li>The company reported 2QFY24 gross profit of $0.5 million, compared with a profit of $39,000 in 2QFY23.</li></ul>

Ocean Power Technologies reported 2QFY24 revenue of $0.9 million, up 193% Y/Y from $0.3 million in 2QFY23, driven by sales of WAM-V autonomous vehicles, the contract with the Department of Energy (DOE), and an increase in strategic consulting services.The previous quarter had revenue of $0.2 million from leased boats.The company reported 2QFY24 gross profit of $0.5 million, compared with a profit of $39,000 in 2QFY23.

Ocean Power Technologies, Inc. - 2QFY24 Results: Revenue Increases 193%