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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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Ocean Power Technologies / Equity Bottom-Up

<ul><li>Ocean Power Technologies reported 4QFY24 revenue of $1.6 million, up 60% Y/Y from $1.0 million in 4QFY23, driven by sales of WAM-V autonomous vehicles and the contract with the Department of Energy.</li><li>The company has an order backlog of $4.9 million, with a pipeline of $71.6 million as of April 30, 2024, and expects FY25 contracted orders to be $12.5 million, double from last year.</li><li>The pipeline consists of 30-40% WAM-Vs, while 50% of the pipeline is PowerBuoys.</li></ul>

Ocean Power Technologies reported 4QFY24 revenue of $1.6 million, up 60% Y/Y from $1.0 million in 4QFY23, driven by sales of WAM-V autonomous vehicles and the contract with the Department of Energy.The company has an order backlog of $4.9 million, with a pipeline of $71.6 million as of April 30, 2024, and expects FY25 contracted orders to be $12.5 million, double from last year.The pipeline consists of 30-40% WAM-Vs, while 50% of the pipeline is PowerBuoys.

Ocean Power Technologies, Inc. - 4QFY24 Results: Profitability in Sight in FY25