Ocean Power Initiates Strategic Review Following Leadership Changes

Dow Jones

Yesterday

Ocean Power Technologies said it initiated a strategic alternatives review following its quarterly results and a leadership shakeup.

The maker of ocean products said Monday that its board initiated the review to identify opportunities to increase growth, expand market access and strengthen the company's financial position.

Bowen is serving as financial adviser and no timetable has been established for the review.

The news came as Ocean Power said fiscal first-quarter revenue rose 44% to $1.7 million. Its loss widened to $10.5 million from $7.4 million the year before, with the per-share loss remaining stable at $1.28.

Earlier on Monday, Ocean Power announced leadership changes including the departure of Chief Executive Philipp Stratmann. The company's previous chief executive, Tracy Pagliara, will come in as acting CEO.

Shares were down 4% to $2.62 in after-hours trading. Shares ended the regular session down 15% at $2.73.

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Its loss widened to $10.5 million from $7.4 million the year before, with the per-share loss remaining stable at $1.28. \n</p>\n<p>\n  Earlier on Monday, Ocean Power announced leadership changes including the departure of Chief Executive Philipp Stratmann. The company's previous chief executive, Tracy Pagliara, will come in as acting CEO. \n</p>\n<p>\n  Shares were down 4% to $2.62 in after-hours trading. Shares ended the regular session down 15% at $2.73. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ocean Power Initiates Strategic Review Following Leadership Changes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOcean Power Initiates Strategic Review Following Leadership Changes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-09-15 05:44</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/OPTT\">Ocean Power Technologies</a> said it initiated a strategic alternatives review following its quarterly results and a leadership shakeup. \n</p>\n<p>\n  The maker of ocean products said Monday that its board initiated the review to identify opportunities to increase growth, expand market access and strengthen the company's financial position. \n</p>\n<p>\n  Bowen is serving as financial adviser and no timetable has been established for the review. \n</p>\n<p>\n  The news came as <a href=\"https://laohu8.com/S/1B6.SI\">Ocean</a> Power said fiscal first-quarter revenue rose 44% to $1.7 million. 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Its loss widened to $10.5 million from $7.4 million the year before, with the per-share loss remaining stable at $1.28. \n\n\n  Earlier on Monday, Ocean Power announced leadership changes including the departure of Chief Executive Philipp Stratmann. The company's previous chief executive, Tracy Pagliara, will come in as acting CEO. \n\n\n  Shares were down 4% to $2.62 in after-hours trading. Shares ended the regular session down 15% at $2.73.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}