Kraken Robotics Systems Inc ( (TSE:PNG) ) just unveiled an update.
Kraken Robotics reported a strong financial performance for 2024, with a 31% increase in revenue to $91 million and a 47% rise in adjusted EBITDA to $21 million. The company’s SeaPower subsea battery business and Subsea Services saw significant growth, while the sensor business experienced a decline. Kraken plans to expand its manufacturing capacity with a new facility in Canada to meet growing demand. The company’s strategic focus on defense and offshore energy markets positions it well for future opportunities, despite challenges in the sensor segment.
Spark’s Take on TSE:PNG Stock
According to Spark, TipRanks’ AI Analyst, TSE:PNG is a Neutral.
Kraken Robotics Systems Inc scores well in financial performance with strong revenue growth and profitability. Technical analysis shows bullish momentum, but the high P/E ratio indicates potential overvaluation. Negative operational cash flow is a risk that could impact future stability.
To see Spark’s full report on TSE:PNG stock, click here.
More about Kraken Robotics Systems Inc
Kraken Robotics Inc. operates in the subsea intelligence industry, specializing in advanced sonar and laser sensor systems, subsea batteries, and underwater robotics. The company focuses on defense and offshore energy markets, providing solutions for surveillance, security, and high-resolution subsea data acquisition.
YTD Price Performance: -6.13%
Average Trading Volume: 764,427
Technical Sentiment Signal: Sell
Current Market Cap: C$643.8M
Learn more about PNG stock on TipRanks’ Stock Analysis page.