Ocean Power Technologies Inc Q2 2026 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Peter Gastreich - Water Tower Research - Analyst : Good morning. Thank you very much. So, congratulations on your continued momentum with the backlog, especially, given the obvious challenges of the government shutdown, and thanks for taking my question. So just, first of all, please follow-up on the headcount question. Do you feel, like, are you kind of where you need to be now in terms of that, headcount expansion for converting the backlog, or are you still going to be, growing the headcount? Unidentified Company Representative I think--we've done a lot of the work that we wanted to get done and catch up so that we can get into that conversion cycle more targeted Increases, particularly around things like building out maintenance, repairs and operations hubs as the installed base grows. So but these will be tied more directly to conversions that are occurring and we'll be able to announce them almost concurrently.

Question: Peter Gastreich - Water Tower Research - Analyst : Okay, that's great. Like, are you able to give any sort of color on what the magnitude of international on the wind side, when compared to US looks like? Unidentified Company Representative I won't be able to say it on the wind side specifically because most of the work we're doing in the Middle East and in the UAE is oil and gas related. International offshore oil and gas is just as interested in USBs. As you know the US wind sector used to be, and that's because USBs materially enable our customers to lower their OpEx. And if they are acquiring the assets, it enables them to lower their CapEx, so it's a win-win on all sides for them. I think in Taiwan interestingly enough what we're seeing is our customer over there is using them for offshore wind, but a lot of the work they're doing around unexploded LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 15, 2025 / 2:00PM, OPTT.A - Q2 2026 Ocean Power Technologies Inc Earnings Call or you're exploring for natural gas or you're going after critical minerals, we can support all of those civilian sectors and we look forward to continuing to grow that market segment.

Question: Peter Gastreich - Water Tower Research - Analyst : Okay, great. Thanks for taking my questions again. Unidentified Company Representative Appreciate it thanks Peter.