Ocean Power Technologies, Inc. Segments Disclosure
(15) Operating Segments and Geographic Information
The Company operates as one operating segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer, who reviews financial information on a consolidated basis and utilizes net loss for purposes of making operating decisions, assessing financial performance of the consolidated Company, and making resource allocation decisions. The CODM also reviews total assets. While assets may move throughout the world to support our revenue projects, for reporting purposes they are included in North America total assets. Revenue and expenses are generally attributed to the operating unit that bills the customers. Geographic information is as follows:
| Year Ended April 30, 2025 | ||||||||||||||||
| North & South America | Europe | Asia and Australia | Total | |||||||||||||
| (in thousands) | ||||||||||||||||
| Revenue from external customers | $ | 3,855 | $ | 1,888 | $ | 118 | $ | 5,861 | ||||||||
| Operating (loss) income | (22,835 | ) | 467 | 78 | (22,290 | ) | ||||||||||
| Right-of-use assets, net | 1,552 | 1,552 | ||||||||||||||
| Long-lived assets | 3,444 | 3,444 | ||||||||||||||
| Total assets | 30,793 | 30,793 | ||||||||||||||
| Year Ended April 30, 2024 | ||||||||||||||||
| North & South America | Europe | Asia and Australia | Total | |||||||||||||
| (in thousands) | ||||||||||||||||
| Revenue from external customers | $ | 5,278 | $ | 247 | $ | $ | 5,525 | |||||||||
| Operating (loss) income | (29,548 | ) | 217 | (29,331 | ) | |||||||||||
| Right-of-use assets, net | 2,405 | 2,405 | ||||||||||||||
| Long-lived assets | 3,443 | 3,443 | ||||||||||||||
| Total assets | 28,704 | 28,704 | ||||||||||||||
The following table presents selected financial information with respect to the Company’s single operating segment and its significant segment expenses for the years ended April 30, 2025 and 2024:
| Fiscal years ended April 30, | ||||||||
| 2025 | 2024 | |||||||
| (in thousands) | ||||||||
| Revenue | $ | 5,861 | $ | 5,525 | ||||
| Less: | ||||||||
| Cost of sales | 4,201 | 2,699 | ||||||
| Product development costs | 1,619 | 5,027 | ||||||
| Employee-related costs | 6,939 | 11,045 | ||||||
| Professional, consulting and contractor fees | 4,705 | 9,024 | ||||||
| General and administrative costs | 2,889 | 3,829 | ||||||
| Facilities costs | 1,587 | 1,544 | ||||||
| Stock based compensation | 4,603 | 1,155 | ||||||
| Depreciation and amortization expense | 904 | 568 | ||||||
| Other expense (income) | 168 | 171 | ||||||
| Interest income | (47 | ) | (800 | ) | ||||
| Loss on extinguishment of debt | 838 | |||||||
| Income tax benefit | (1,034 | ) | (1,254 | ) | ||||
| Net loss | $ | (21,511 | ) | $ | (27,483 | ) | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 24, 2025 | Showing above |
| 2024 | Jul 25, 2024 | |
| 2023 | Jul 28, 2023 | |
| 2022 | Jul 13, 2022 | |
| 2021 | Jul 19, 2021 | |
| 2020 | Jun 29, 2020 | |
| 2019 | Jul 22, 2019 | |
| 2018 | Jul 17, 2018 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.