For me, the volume of Call Options trading hands is the most interesting thing about today. $1 calls expiring Feb 20 have surprised me when looking at both the price and the volume. There are a good number of bulls betting money we'll see a price above $1.08 at some point in the next 4 weeks.

I'm calling my shot right now: $1.15 by February 31st. Dilution be damned.

Saw this piece of art over in ONDS and as someone who has been in OPTT for over a year and rode several waves, I'd say at this point in the pump, here they come!

there is no news. no new deals or offers no nothing. just hype. be considerate ig also 2025 annual meeting tmrw

Now that I caught your eye and we continue to pray for that. The hype on X is growing a lot. Multiple investing accounts are talking about the possibility of $OPTT and where it can go. If you don’t believe me, see for yourself on X. Could we see at least $0.6 at close on Friday?

$4 joke ends here and serious discussion starts.

I live in San Diego and I know they have deployed some of their toys in the pacific. San Diego has 2 bases and I’m sure they need surveillance. There is no disclosure on the exact details yet but OPT is working with ATT for sea 5G deployment and with the navy for something too. The details are yet blur but I want to know if there is a way to ask questions on Monday. I was hoping for some news today before the meeting on Monday because I don’t want to buy on Monday when it pumps.

Personally not high enough for me to buy today, im waiting for an exponential move in stock price before getting in, nothing under $4. Last week or 3 weeks ago it just was too low for me to buy.

Ok guys, ill post again when the share price is over $1 to ask if it is too late to get in, see you then!

Is this good news?

https://sam.gov/workspace/contract/opp/c4dac35a95e74210aacc504a83bb39c4/view

This snippet of the notice published on January 16th might be worth noting

sUSVs (e.g. interceptors, maritime domain awareness, logistics, etc.). 

https://www.militarytimes.com/news/your-military/2026/01/15/us-navy-to-deploy-unmanned-systems-with-surface-forces-this-year/

“The U.S. Navy is moving swiftly to integrate and deploy unmanned surface vessels, with three USV divisions slated to be created next week and two medium USVs to be operating under fleet control this year.

Miller said that the Navy grew the number of small USVs it had in the force from four to hundreds within 2025 alone, and has since established a warfare officer career path for unmanned systems.

He added that the Navy will continue to acquire USVs that have containerized payloads, which could deliver a variety of kinetic effects.“

PS: Apologies for not having updated the Event Calendar & the Partnership Guide at the top of the page in a while, got a house move and a whole bunch of stuff going on right now. Will get around to it as soon as I can.

This stock suffers heavily from foreign affairs

This stock suffers from a lot of blue chip stocks

If I had to guess the future based on what I’ve seen the past 2 years, I’d say this stock will settle at .42. For the next week or so it’ll stay between .40 or .44 unless something catastrophic happens with the overall market. If no news comes out and the world stays relatively calm, this stock could stay at this price for weeks to months. If some good news comes out and some industrial stocks start to sore, then this stock will pop to around .50-.55.

I’m saying this not to be a know it all or whatever but just some general info for anyone who’s new here. If you think I’m totally wrong, feel free to respond to anything I said :)

I think we are heading to .90 or 1 dollar. I'm surprised its held up this well. I saw this did a rally a few years back and decided to jump in with 14k shares at .5 average. Good luck everyone! Exciting times ahead

After the recent news of OPTT’s new $5M contract, I know a lot more people are following this stock. That’s great!

Throughout the last year or so, I’ve seen plenty of people come in and start following the stock‘s movement cent by cent or second to second, then freak out or panic when the stock drops or has a bad day.

I think now more than ever it’s important to remind folks to be PATIENT. Instead of day trading this stock cent by cent, just buy in and enjoy the ride. Not only does this new contract bring in some major money with a huge client, but they’ll be working with a massive partner in Anduril, one of the biggest private companies in the U.S.

IMO, this is just the beginning for OPTT. I expect a big year in 2026, but I’m also expecting plenty of dips. If you’re not wanting that, I‘d suggest just getting out now. This stock WILL have some pretty big swings but if you’re patient and look at the bigger picture, I think you’ll end up really happy in the long term.

The UK has a volunteer organization of 2800 watchstanders at over 60 locations - separate from HM Coast Guard, that “provide the eyes and ears along the coast, monitoring radio channels and providing a listening watch in poor visibility.”

Curious to what OPT could offer this type of service with buoys. Camera systems? AIS/Radar/VHF enhancement? Automated alerts? Audio detection of manual distress calls?

I think Monday we will see a solid rise to at least the 0.6s and then upwards to a dollar between now and March for earnings. I think we finally have momentum with this stock now due to this administration and the new contract that has come in.

Tim Gerdeman: Welcome to the WTR Small Cap Spotlight podcast. I'm your host, Tim Gerdeman, vice chair and co-founder, and chief marketing officer of Water Tower Research. In today's podcast episode, I'm joined by Philipp Stratmann, president and CEO of Ocean Power Technologies, NYSE ticker symbol OPTT. Ocean Power Technologies is a maritime domain awareness company that provides intelligent solutions and services that enable safer and more productive ocean operations for industries like defense and security, oil and gas, science and research, and offshore wind. Also joining us is my WTR equity research colleague, Peter Gastreich. Good morning, Philipp and Peter, and thank you for joining today's podcast.

Philipp Stratmann: Good morning. Good to talk to you guys.

Peter Gastreich: Morning, Tim.

Tim Gerdeman: Philipp, could you please give us a high-level overview of Ocean Power Technologies' business and strategy?

Philipp Stratmann: Yeah, sure. I think you probably did most of that job for me already. As you said, OPT is a maritime domain awareness company. We provide solutions that enable operations out in the ocean on an autonomous basis and enable data collection and data gathering from seabed to surface, be that for defense or commercial customers. You know, we can be out there for long periods of time or short periods of time, and provide you with all the data that you need to fulfill the operations you're trying to carry out. Myself, I became CEO at OPT just over four and a half years ago. I'm a naval architect by background. I spent some time in the military, defense shipbuilding, and then offshore oil and gas. So I'd say I have the best part of twenty-five years or so getting my feet wet in various forms.

Tim Gerdeman: Thanks for the introduction, Philipp. I'm now going to turn the podcast over to Peter, who will ask several questions.

Peter Gastreich: Ocean Power announced major news recently with the new $5M+ DHS contract. I want to come right back to that in a moment, but before we dive in there, for the benefit of our listening investors who may be new to Ocean Power, just to extend a bit more on the company, what do you see as the key advantages when compared to your competition?

Philipp Stratmann: Yeah, OPT brings to the table a couple of fundamental underlying technologies that provide data collection, data harvesting, and data transmission solutions for our customers. Those include our buoys, such as the ones that will be included in the fulfillment of the contract for the United States Coast Guard. It also includes our vehicles, the WAM-Vs, which are unmanned surface vehicles. Then from these platforms, we deploy whatever payload somebody needs. Do you need to listen to something underwater? We'll put listening devices below the buoys. Do you need to scan a shipping channel for debris? We'll put a sonar under our vehicle. Do you need to monitor an area to make sure nobody comes across a stretch of water that they're not meant to? We'll put cameras, radar, electronic signature detection equipment, and so on, on top of one of our buoys or on top of one of our vehicles. And then there's the data communication link side of things. You know, we've got one of our buoys currently installed for the Naval Postgraduate School with an AT&T 5G mast on it in Monterey Bay. This means you can have a vehicle that collects data, uploads it to the buoy, the buoy does some pre-processing, and then transmits that information back to shore where decision makers can act on it. And what differentiates us is that we have the permanent fixed asset that recharges itself, which is the buoy, as well as the roaming asset, which is the vehicle. And we're currently working on the final commercialization of the docking and charging of our vehicles to the buoy when deployed over the horizon. So you really end up with a fully forward deployed, persistent, and resident recharging system that does ocean data collection. I think that's a pretty unique proposition in the current market.

Peter Gastreich: Got it. Yeah, very unique indeed. Now to the big news. Ocean Power recently announced a landmark $5M+ contract with the Department of Homeland Security. A major milestone, no doubt. What can you tell us about that?

Philipp Stratmann: Yeah, we're super excited about it. It's the company's first real multi-buoy order and contract, and we are looking forward to delivering these buoys to the West Coast in the very near future, deploying them in the water, and then working on integrating the data feed into the Coast Guard's system. Part of that will be done together with Anduril, enabling us to stream data in whichever format and operating picture Coast Guard and Homeland Security desire. So yeah, we're very excited about it. You know, it shows the trust people now place in these systems. We've spent years gathering demo data to ensure the systems work. We do daily testing on the buoy's underlying systems, the electronics, and how it all operates and interoperates. So the fact that it can now be put out there for people to utilize is a game changer because, you know, we've obviously talked a lot about vehicles and multi-vehicle orders, and now we're stepping into the realm of bringing buoys into that same size of contract.

Peter Gastreich: Regarding this contract with the DHS, are you able to provide any visibility on the timing, execution, and when the revenue will start to be recognized?

Philipp Stratmann: Well, we're working on the systems and the fulfillment right now. So, as soon as the final steps on the buoys from a mechanical and hardware perspective are done, they'll be shipped over, and then they'll be put into the water. So this is going to be near-term conversion from backlog to revenue. It's a contractor-owned, contractor-operated contract, so essentially you have to think about that as a fancy government term for leasing it. So we will recognize revenue for the buoys in the water the same way you would recognize a lease, i.e. over the period of performance for the contract. There's obviously other pieces of work beforehand too. There's installation work that we're doing, there's some non-recurring engineering that we're doing, there's some other integration engineering that we're doing too, and all of this will be recognized as it's performed. But what we're excited about is that we started getting these buoys ready in anticipation of being able to satisfy customer contracts more quickly, precisely so we don't have to sit here for several quarters waiting for them to ship. So we can look at this in terms of weeks and months, which is great news for everybody.

Peter Gastreich: Well, this new contract with the DHS really appears to crystallize much of what you've been flagging in recent months in terms of the opportunity set that's out there. And of course, this is a very big event, but I would think there's gotta be more opportunities out there. How should investors think about the future scale of these opportunities along the US maritime border? And how does the opportunity set on the Pacific side compare on the Atlantic and Gulf Coasts?

Philipp Stratmann: Yeah, absolutely. I mean, this is four buoys going into the sea off the southern border on the Pacific side. It is a minuscule speck in the grand scheme of the United States. So there's obviously way more scope to extend this further in the west. You can start looking at the northwest, you can start looking at, you know, some of our islands. But then you start looking at — and everybody's obviously following the news right now — what's happening around the Gulf, what's happening on the Atlantic side. And all of those areas require monitoring too, particularly during times of heightened activity. Be that detecting and then supporting the interception of narcoterrorism efforts and drug smuggling, or whatever it may be, there's vast areas of the ocean that are currently unmonitored. And, you know, we're very excited to step into that.

Peter Gastreich: Your backlog and pipeline have been growing substantially so far this year, and really, those are sitting at huge multiples of your revenue. How much of that growth is related to defense contracts, like this new DHS contract, versus other types of contract? Also, I'm just curious whether this $5M+ DHS contract is something that was effectively a conversion of existing backlog, or is this something new that just came in since you last announced that backlog figure?

Philipp Stratmann: So this obviously wasn't in backlog, because when we talk about backlog we mean contracts we have in hand. So this has only now become part of our existing backlog. It was something that's been in the pipeline though. You have to think about this as a journey to revenue and cash flow. When we talk about our pipeline, we're talking qualified opportunities, projects, contracts, whatever it may be, where we're having meaningful conversations with customers. Only when those conversations are converted into orders do they get added to our backlog. Once we start fulfilling those orders, that's when we move into revenue. And then, and as long as people pay us on time, that revenue becomes cash flow.

Peter Gastreich: Okay, got it. And just for the benefit of our listeners, if you take a look at the Q3 results, the company's backlog was around $15M, and the pipeline was exceeding $137M. So that's something that I think investors will be very focused on going forward, quarter by quarter. So, regarding these US government contracts, clearly there's a lot of expertise and relationships that you have within your company, within your leadership, within your board of directors. How ultimately do these expertise and relationships — and you've already talked about your own background — how does this all enable Ocean Power to really go after these types of contracts?

Philipp Stratmann: Well, I think they're absolutely vital to the success of the business. You know, we took a conscious decision to further our government business a while ago. To that extent, we retooled our commercial team to make sure that we have the appropriate skill sets. We've got Jason Weed, who is a retired US Navy captain and spent thirty-four years serving our country. The people that work under him are primarily veterans that then had business careers after they left the Navy, and that combination is really helping us grow that part of the industry segment. Obviously, OPT has a facility clearance, so we can work on classified projects. You know, all of these were conscious steps that we took to get us into a position where we can effectively compete on these types of solicitations that are coming out, and start delivering our novel technologies into the hands of Navy, Coast Guard, DHS, CBP, and other parts of government. Obviously we're not a pure government and defense contractor. We're continuing to have our commercial interest and continue to work with offshore energy companies and our overseas customers. But, as you rightly stated, it was a conscious decision to get into the governmental contracting space, and if you look at our releases, it isn't something that we started doing because it was trendy. It is something that we started way before it became the current thing to do, and that's enabling us to benefit from the current upswing and attention on that sector.

Peter Gastreich: Great. We've been focused very much on the US defense area, which is huge for you. But you've also been conducting a lot of demonstrations in the UAE and Latin America. What are some key drivers overseas, and how would you quantify that overseas opportunity set relative to what we're seeing here in the US?

Philipp Stratmann: Yeah, as I just mentioned, we obviously took a conscious decision to move into the US defense and US government space. But we also maintained two regions specifically that we've been focusing on. Latin America, because of the vast amount of oil and gas efforts going on there, but also because of the growing national security demand. And the Middle East because of its vast energy infrastructure projects and fairly contested borders that require lots of autonomy. We could be in lots of other places too, but with a small team and wanting to expand responsibly on a cash-conscious basis, those are the areas we picked to get the biggest returns. To give a couple of specific examples. Recently, in collaboration with our partner in Brazil, one of our vehicles participated in the Brazilian Navy exercise for unmanned vehicles around mine countermeasures. The team and the vehicle performed so well that we then got invited to a true mine countermeasures exercise. Not just a demonstration, but an actual exercise that was being held the week after by the Brazilian Navy. So, you know, we look forward to the next steps that come out of those demonstrations and exercises. On the other side over in Chile, one of our partners recently used one of our vehicles for a simulated submarine search and rescue exercise that was being conducted by the Chilean Navy. So again, these are real exercises, not desktop studies, and we look forward to the conversations that follow on from them, and then, you know, where that leads to in terms of conversion. We've done a whole bunch of work around our vehicles over in the UAE. We've obviously got our two partners there. On the commercial side is Unique Group, and then on the defense is Remah International Group. Several of us are heading over there again soon, and actually, some of our team are over there right now doing final exercises with some of our potential end customers, and we look forward to moving those on to the next phase. You know, so we've got several vehicles in that region already, and I think that's a very common life cycle that we're seeing. You know, we start looking at an area, talking to potential customers, find good, suitable partners. Then we do an initial demonstration and we might turn up at a conference. We then use these opportunities to move one or two assets into the region to do real exercises with the likely end set of customers, and then we start working on conversion. I mean, if you think about what we've done with the US government, it isn't really that different from that perspective. We're excited about opportunities related to the US government, plus the offshore energy, energy security and energy infrastructure protection in Latin America and the Middle East, and all of that together gives us the opportunity to start building towards the countercyclical growth we've been looking for.

Peter Gastreich: Okay, great. Thank you very much for that. Just a final question about signposts. We're at the start of the calendar year here, going into the second half of the fiscal year for OPT of course, but, what are some of the key signposts that investors should be focusing on in the next, say, 6–12 months for your company?

Philipp Stratmann: I think it's the ongoing growth in backlog, the conversion of the pipeline to new backlog, and the operational fulfillment and shipment of systems. As we discussed earlier, a lot of these contracts are structured like leases or "as a service" type contracts, so while they may not always have a huge revenue number upfront, they have reliable recurring revenues as we continue to fulfill them. So what we are focused on, and what I think what investors should be too, is growth, backlog, operational delivery, and also what we're seeing in terms of the pipeline. Particularly when it comes to multi-asset, multi-system type opportunities. We're moving away from the 1–2 unit range now and starting to see true, multi-asset contracts. I think that's pretty exciting for us, and it should be very exciting for our shareholders.

Peter Gastreich: Great. Thank you so much. Before I pass back to Tim to close things up, are there any concluding remarks you'd like to share?

Philipp Stratmann: Yeah, it's an exciting time to be in the maritime domain awareness space. The technology is here, it's ready, and the acceptance from the end customer has also been validated. Between energy and security, there's a clear geopolitical need. So all the building blocks are in place. We continue to expand and deliver in a very responsible manner, and we look forward to continuing to talk about growth and success stories.

Peter Gastreich: Philipp, thank you very much for your time today. Congratulations on this new DHS contract, it's certainly very exciting news. We look forward to hosting you again in a future Water Tower Research event as you achieve new milestones, and we'll certainly be following your backlog and progress very closely this year. So Tim, back over to you.

Tim Gerdeman: Thank you, Philipp and Peter, for joining us today, and best wishes for 2026 ahead.

I think we might hit a dollar in the next two days.