CODA News & Events

Reports Q revenue $7.27M vs $5.055M last year. Annmarie Gayle, CODA's Chairman and CEO, commented: "I am pleased with our overall results of operations in FY2025, especially the increase in our consolidated net revenue, operating income, pre-tax income and earnings per share. Both our Core Business and the Defense Engineering Business saw an increase in financial performance and Precision Acoustics Limited, which was acquired on October 29, 2024, delivered a very strong performance on a full year basis and achieved the qualifying conditions for the year one earn out payments."

Reports Q3 revenue $7.06M vs $5.48M last year. Annmarie Gayle, CODA's Chairman and CEO, commented: "Despite the uncertain global policy environment, I am pleased with our overall financial results in our TQ2025 and the diversification of our revenue structure. Our core business, the Marine Technology Business, sells its products and solutions worldwide and in the TQ2025, we saw a 103.6% increase in equipment sales which were $2,746,255 compared to $1,349,411 in the comparable TQ2024 period. However, we also saw an underutilization of our rental assets, which led to rental revenue decreasing by 62.2% and which were $304,617 compared to $805,259 in the comparable TQ2024 period, reflecting the reduction in offshore renewable projects as a result of the change in U.S. Administration energy policy. Notwithstanding the change in the U.S policy on renewables, we believe that its new policy on prioritizing domestic energy production of Oil & Gas favors our products and solutions. We further believe that the transition to O&G will in the foreseeable future offset any possible reduction of revenue from US offshore renewables.

Coda Octopus Group has launched its new ultra small factor series of real time 3D, 4D, 5D and 6D imaging sonars: its Echoscope PIPE NANO GEN Series. The Company's Echoscope PIPE NANO Gen Series of sonars is designed specifically for use with the new generation of smaller and lighter underwater vehicles, drones, diver platforms and robotics. These sonars are a shade bigger than a smart phone - and therefore perfect for deployment on the smaller underwater vehicles and on diving platforms that are now widely in use. The NANO GEN Series sonars offer the same uncompromising quality of real time 3D, 4D, 5D and 6D imaging as our proven Echoscope PIPE sonars and offers a new capability for forward looking obstacle avoidance and spatial awareness on small platforms.