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Kraken Robotics Systems Inc
(PNG)
Kraken Robotics Systems Inc (PNG) vs. iShares MSCI Canada ETF (EWC)
Kraken Robotics Systems Inc Business Overview & Revenue Model
Kraken Robotics Systems Inc Earnings Call Summary
Kraken Robotics Systems Inc Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 91.29M | 69.58M | 40.91M | 25.63M | 12.28M | Gross Profit |
| 44.69M | 33.96M | 17.04M | 11.32M | 5.82M | EBIT |
| 11.75M | 4.89M | -1.53M | -2.02M | -4.45M | EBITDA |
| 18.12M | 11.72M | 825.00K | -176.00K | -3.86M | Net Income Common Stockholders |
| 20.09M | 5.55M | -4.24M | -3.54M | -5.21M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 58.52M | 5.17M | 8.27M | 6.75M | 12.92M | Total Assets |
| 164.20M | 76.42M | 71.36M | 65.47M | 34.82M | Total Debt |
| 19.34M | 16.20M | 16.27M | 15.26M | 5.02M | Net Debt |
| -39.18M | 11.03M | 8.00M | 8.51M | -7.91M | Total Liabilities |
| 42.46M | 44.36M | 47.71M | 37.86M | 18.81M | Stockholders Equity |
| 121.73M | 32.06M | 23.66M | 27.60M | 16.01M |
| Cash Flow | Free Cash Flow | |||
| -16.06M | 870.00K | 93.00K | -16.54M | 612.26K | Operating Cash Flow |
| -12.46M | 8.43M | 5.24M | -11.01M | 2.79M | Investing Cash Flow |
| -5.15M | -9.81M | -3.37M | -7.24M | -3.24M | Financing Cash Flow |
| 70.75M | -2.15M | -41.00K | 11.92M | 11.10M |
Kraken Robotics Systems Inc Technical Analysis
Kraken Robotics Systems Inc Peers Comparison
Kraken Robotics Systems Inc Corporate Events
Kraken Robotics Inc. has appointed Kristin Robertson, a seasoned executive with over 30 years in the defense industry, to its Board of Directors. Robertson’s extensive experience with major U.S. defense companies like Boeing and RTX Corporation is expected to significantly contribute to Kraken’s growth and innovation in subsea technology. Additionally, the company has issued stock options to employees and directors, reflecting its commitment to incentivizing talent as it progresses in its strategic goals.
The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Kraken Robotics Systems Inc stock, see the TSE:PNG Stock Forecast page.
Kraken Robotics reported a 23% decrease in revenue for Q1 2025, primarily due to a decline in product revenue as the Canadian Navy project nears completion. Despite this, service revenue increased by 38% driven by demand for their Sub-Bottom Imager and Acoustic Corer services. The company completed the acquisition of 3D at Depth, enhancing their service offerings. Kraken remains optimistic about future growth, citing strong market fundamentals in naval defense and plans to expand manufacturing capacity in Canada.
The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Kraken Robotics Systems Inc stock, see the TSE:PNG Stock Forecast page.
Kraken Robotics Inc. has announced new orders exceeding $3 million for its Synthetic Aperture Sonar (SAS) systems, which will be integrated into uncrewed underwater vehicles for clients across Asia Pacific, Europe, and North America. This development highlights the growing demand for Kraken’s technology, which enhances the capabilities of uncrewed systems by providing high-resolution imaging and bathymetric mapping. The orders include a significant contract with the University of Southern Mississippi’s Roger F. Wicker Center for Ocean Enterprise, which will use the technology for research and development. This expansion in sales underscores Kraken’s strong positioning in the subsea intelligence market and its potential impact on research and operational efficiency in oceanographic studies.
The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Kraken Robotics Systems Inc stock, see the TSE:PNG Stock Forecast page.
3D At Depth, a subsidiary of Kraken Robotics, has completed its 1,000th subsea metrology project, marking a significant achievement in the underwater technology sector. This milestone highlights the company’s dedication to innovation and precision, enhancing operational efficiency and reducing environmental impact in challenging underwater environments. The project, conducted for TotalEnergies at the Girassol oil field in Angola, demonstrates the effectiveness of 3D At Depth’s advanced LiDAR technology and rapid data delivery capabilities, reinforcing its position as an industry leader in subsea measurement solutions.
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.
Kraken Robotics Inc. has announced the release of its fiscal year 2024 financial results scheduled for April 28, 2025, at 6:30 am ET, followed by a webcast at 8:30 am ET hosted by the company’s President and CEO, Greg Reid, and CFO, Joe Mackay. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic positioning within the subsea intelligence industry, potentially impacting investor confidence and market dynamics.
Kraken Robotics has secured $11 million in new orders for its SeaPower pressure tolerant batteries, bringing the total orders for the year to $45 million, primarily driven by demand from the defense industry for uncrewed underwater vehicles (UUVs). These batteries are notable for their ability to withstand deep ocean pressures without needing a pressure housing, supporting longer and more complex UUV missions. To accommodate growing demand, Kraken plans to open a new battery facility in Nova Scotia, which will significantly increase production capacity. This expansion positions Kraken for continued growth in the subsea power sector and enhances its industry standing, with new battery designs for smaller UUVs expected by late 2025.
Kraken Robotics has announced the launch of a synthetic aperture sonar (SAS) service targeting the global offshore energy market. This service, utilizing the KATFISH towed SAS systems, aims to enhance offshore construction surveys and infrastructure inspections with superior resolution and range. The initiative is expected to meet the growing demand in the offshore wind industry while reducing carbon emissions and survey costs. Kraken’s selection by the UK’s ORE Catapult for its Launch Academy highlights its strategic positioning in the industry, providing access to advanced testing and collaboration opportunities.
Kraken Robotics Inc. has completed its acquisition of 3D at Depth Inc., a subsea services company specializing in high-resolution LiDAR imaging. This acquisition allows Kraken to integrate 3D at Depth’s expertise into its existing suite of subsea technologies, enhancing its offerings in synthetic aperture sonar and sub-bottom imaging. The move is expected to strengthen Kraken’s position in the commercial, defense, and marine research sectors by providing comprehensive subsea intelligence solutions. This strategic expansion is anticipated to benefit Kraken’s global customer base by offering improved data quality and operational efficiency in complex subsea missions.