Kraken Robotics announces Q3 earnings per share of 1 cent, unchanged from last year.
Reports Q3 revenue $31.3M vs. $19.6M last year. The company said, "Record Q3 financial results highlight continued momentum for Kraken Robotics across maritime defense and offshore energy markets. Record sales of subsea batteries and synthetic aperture sonar are from the growing adoption of uncrewed underwater vehicles by navies around the world, as they modernize existing fleets and add non-expensive force multipliers for naval defense and maritime security. We have completed several important customer demonstrations this year and request for proposal activity for defense programs is accelerating. Globally, governments are modifying defense procurement to make it more agile and make greater use of commercial off the shelf solutions. These trends are additive to the multi-year investment cycle we are seeing across our defense customer base. With additional capacity coming online in 2026 and a strengthened balance sheet we are well positioned to meet customer requirements. In offshore energy, our offshore services business offers a variety of highly specialized resources to image subsea infrastructure with high precision. With an exceptional team of scientists, engineers, and offshore operators, our dual use technologies can be deployed to customers however they want to acquire actionable intelligence - by purchasing and operating equipment, renting equipment, or having Kraken provide a service to them."
