Ocean Power Technologies, Inc. (OPTT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 17, 2026

Risk Assessment Details

Potential Dilution: 16.39% of current shares
Recent Dilution: 103.21% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
230M
Potential Supply
37M
Additional shares possible
Splits
None
Past 2 years

Summary

OPTT currently has 228M outstanding shares. with limited dilution risk as only 37.4M additional shares (16.4%) are authorized for issuance. The company has significantly diluted shareholders by 103.21% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 17, 2026

10-Q filing | 228.0M shares outstanding

230M 37M
Dec 15, 2025

10-Q filing | 183.6M shares outstanding

180M 37M
Jul 24, 2025

10-K filing | 177.5M shares outstanding

180M 37M
Mar 17, 2025

10-Q filing | 170.1M shares outstanding

170M 37M
Dec 16, 2024

10-Q filing | 146.0M shares outstanding

150M 37M
Sep 16, 2024

10-Q filing | 97.9M shares outstanding

98M 37M
Sep 06, 2024

S-3/A filing: This is an S-3/A filing for OCEAN POWER TECHNOLOGIES, INC. regarding the offering of 2,864,808 shares of common stock by selling stockholders.

93M 37M
Aug 06, 2024

S-3 filing: This is an S-3 filing for OCEAN POWER TECHNOLOGIES, INC. regarding the offering of 2,864,808 shares of common stock by selling stockholders. The last reported sale price of the common stock on August 1, 2024 was $0.21 per share.

93M 37M
Jul 25, 2024

10-K filing | 92.7M shares outstanding

93M 35M
Mar 13, 2024

10-Q filing | 58.9M shares outstanding

59M 35M
Dec 13, 2023

10-Q filing | 58.8M shares outstanding

59M 35M
Dec 01, 2023

S-3 filing: The filing is for a shelf registration of various securities, including debt securities, common stock, preferred stock, depositary shares, warrants, subscription rights, purchase contracts, and units, up to a total aggregate offering price of $100,000,000.

59M 35M
Sep 21, 2023

S-3/A filing: This is an S-3/A filing related to common stock. It discusses voting rights, dividends, liquidation and distribution, and anti-takeover effects.

59M 35M
Sep 13, 2023

10-Q filing | 58.7M shares outstanding

59M 35M
Jul 28, 2023

10-K filing | 58.7M shares outstanding

59M 35M
Jul 24, 2023

S-3/A filing: This is an S-3/A filing providing information about the company's common stock, including voting rights, dividend rights, and liquidation and distribution rights. It also discusses anti-takeover effects of Delaware law, the company's certificate of incorporation, and bylaws.

59M 35M
Jun 30, 2023

S-3 filing: This is an S-3 filing describing common stock, including voting rights, dividends, liquidation and distribution rights, and anti-takeover effects of Delaware law, the certificate of incorporation, and bylaws.

59M 35M
Mar 13, 2023

10-Q filing | 56.2M shares outstanding

56M 35M
Dec 14, 2022

10-Q filing | 55.9M shares outstanding

56M 35M
Sep 12, 2022

10-Q filing | 55.9M shares outstanding

56M 35M
Jul 13, 2022

10-K filing | 55.9M shares outstanding

56M 35M
Mar 14, 2022

10-Q filing | 55.9M shares outstanding

56M 35M
Dec 14, 2021

10-Q filing | 55.9M shares outstanding

56M 35M
Nov 19, 2021

S-3 filing: This is an S-3 filing detailing the description of common stock, voting rights, dividends, liquidation and distribution, anti-takeover effects of Delaware law, and removal of directors.

56M 35M
Nov 16, 2021

8-K filing: Ocean Power Technologies, Inc. acquired Marine Advanced Robotics, Inc. for $4,000,000 in cash and 3,330,162 shares of common stock valued at $7,000,000. ($7.0M proceeds)

52M 35M
Sep 13, 2021

10-Q filing | 52.5M shares outstanding

52M 35M
Jul 19, 2021

10-K filing | 52.5M shares outstanding

52M 35M
Mar 05, 2021

10-Q filing | 51.0M shares outstanding

51M 35M
Feb 02, 2021

8-K filing: Ocean Power Technologies, Inc. acquired all of the outstanding equity interest of 3dent Technology, LLC from the Sellers, issuing 331,961 shares of its common stock to the Sellers with an agreed value of $800,000. ($0.8M proceeds)

31M 35M
Dec 07, 2020

10-Q filing | 30.8M shares outstanding

31M 35M
Nov 20, 2020

S-3 filing: This S-3 filing discusses the dilution in net tangible book value per share after an offering of common stock, estimating the impact based on the sale of 25,380,710 shares at an assumed price of $1.97 per share.

19M 35M
Sep 18, 2020

S-1 filing: This S-1 filing registers 3,722,251 shares of common stock offered by Aspire Capital Fund, LLC, and also covers a common stock purchase agreement with Aspire Capital for up to $12.5 million of the company's common stock.

19M 9.1M
Sep 14, 2020

10-Q filing | 18.6M shares outstanding

19M 5.4M
Jun 29, 2020

10-K filing | 17.1M shares outstanding

17M 5.4M
Jun 12, 2020

S-1 filing: This S-1 filing registers the sale of 2,500,000 shares of common stock by Aspire Capital Fund, LLC, and also covers a common stock purchase agreement with Aspire Capital for up to $10.0 million of common stock.

16M 5.4M
Mar 09, 2020

10-Q filing | 9.3M shares outstanding

9.3M 2.9M
Feb 07, 2020

S-1/A filing: This S-1/A filing registers 2,900,000 shares of common stock for sale by the selling stockholder, Aspire Capital, pursuant to a common stock purchase agreement, and may receive up to $10.0 million from the sale of common stock to the selling stockholder.

8.7M 2.9M
Jan 21, 2020

S-1 filing: This filing relates to the sale of up to 5,400,000 shares of common stock by Aspire Capital Fund, LLC and the potential sale of up to $10.0 million of common stock to Aspire Capital pursuant to a common stock purchase agreement.

8.4M 5.4M
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