Canada · Delayed Price · Currency is CAD Kraken Robotics Earnings Call Transcripts
Fiscal Year 2026
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Q2 revenue reached CAD 27 million with strong gross margins and double-digit product growth. The Covelya acquisition expands market reach and technology, supporting robust 2026 guidance and a strong pipeline, with key growth expected in Q4 and continued momentum in defense and commercial sectors.
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The acquisition creates a global subsea technology leader with minimal product overlap, strong financials, and significant growth potential. Immediate cost synergies and expanded technical capabilities position the combined entity for leadership in defense and commercial markets.
Fiscal Year 2025
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Record 2025 revenue and EBITDA were driven by strong demand for batteries, SAS, and services, with significant growth expected in 2026. The Covelya acquisition will expand scale and offerings, while robust order intake and a strong balance sheet support future growth.
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Q2 2025 saw 16% revenue growth, margin expansion, and strong battery and service business performance, while sonar revenue declined due to project timing. Annual guidance is unchanged, with significant H2 growth expected from a robust defense and commercial pipeline.
Fiscal Year 2024
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Record 2024 results with 31% revenue growth and 47% adjusted EBITDA increase, driven by strong defense and offshore energy demand. 2025 guidance targets 40% revenue growth, with a robust CAD 2 billion sales pipeline and major capacity expansion underway.