Filing Flows › Ocean Thermal Energy (CPWR) › Q1 2026
Ocean Thermal Energy (CPWR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Ocean Thermal Energy (CPWR) reported revenue of $404K for the first quarter 2026 (Q1 2026), +133% from a year earlier and -74% from the quarter before. Operating margin was -120.9%.
Ocean Thermal Energy, Q1 2026: revenue $404K (+133% year over year), operating margin -120.9%, net earnings $62.0M, operating cash flow −$237K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $404K | -74% | +133% |
| Operating profit | −$488K | -200% | — |
| Net earnings | $62.0M | -37% | — |
| Operating cash flow | −$237K | -204% | — |
What changed
Revenue was $404K in Q1 2026, up 133% year over year and down 74% from the previous quarter.
Operating costs exceeded revenue by $488K, an operating margin of -120.9%. The fastest-growing cost line was General & admin (+430%). Net earnings were $62.0M. The effective tax rate was 0.0%. Non-operating items added $62.5M, 101% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$237K. Working capital and other items used $62.3M.
Questions
What was Ocean Thermal Energy's revenue in the first quarter 2026?
Ocean Thermal Energy (CPWR) reported revenue of $404K for the first quarter 2026 (Q1 2026), +133% from a year earlier and -74% from the quarter before.
Was Ocean Thermal Energy profitable in the first quarter 2026?
Operating loss was $488K (-120.9% of revenue) and net earnings $62.0M.