Kraken Robotics says Q2 2026 revenue rises 4% on higher product and services demand despite C$ 1.5 million scope change impact

• Kraken Robotics posted Q2 2026 revenue of CAD 27.3 million, up 4% year over year, led by higher products and services sales.
• A CAD 1.5 million scope change on an integration project reduced quarterly revenue; excluding it, revenue would have been CAD 28.8 million.
• Product revenue rose 2% to CAD 16.9 million on stronger KATFISH, synthetic aperture sonar, subsea batteries; scope change weighed on results.
• Service revenue increased 6% to CAD 10.5 million; management noted offshore services seasonality can drive sharp quarterly swings.
• Gross profit climbed 10% to CAD 16.2 million; gross margin widened to 59% from 56% on revenue mix.
• Adjusted EBITDA increased 7% to CAD 5 million; margin held at 18%, or 20% excluding the integration scope change impact.
• Net loss widened to CAD 9.3 million; results included CAD 6.9 million in other loss, higher administrative costs, higher depreciation.
• Cash totaled CAD 91.3 million; total assets were CAD 724.8 million, including CAD 396.7 million of subscription receipts held in escrow.
• Covelya acquisition closed for about CAD 615 million; management flagged expected financial accretion, including CAD 10 million cost synergies within 24 months.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kraken Robotics Inc. published the original content used to generate this news brief on August 27, 2026, and is solely responsible for the information contained therein.