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Kraken Robotics (PNG) investor relations material

Kraken Robotics Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary21 Aug, 2025

Executive summary

  • Q2 2025 revenue grew 16% year-over-year to CAD 26.4 million, driven by strong subsea battery and service business performance, and the 3D at Depth acquisition, while sonar revenue declined due to project timing.

  • Gross profit margin improved to 56% in Q2, up from 51% last year, reflecting a favorable revenue mix and higher-margin projects.

  • Adjusted EBITDA was CAD 4.7 million (18% margin), down from CAD 5.4 million (24% margin) last year due to increased administrative expenses.

  • Net loss for the quarter was CAD 0.7 million, compared to net income of CAD 2.6 million in Q2 2024; basic and diluted loss per share were CAD 0.00.

  • The company maintained its annual guidance of CAD 120–135 million in revenue and CAD 26–34 million in adjusted EBITDA, expecting a back-end weighted year.

Financial highlights

  • Q2 2025 consolidated revenue: CAD 26.4 million (up 16% year-over-year).

  • Service revenue surged 180% to CAD 9.8 million, fueled by organic growth and the 3D at Depth acquisition.

  • Subsea battery revenue up 26% year-over-year; service business organic growth of 27% (excluding 3D at Depth).

  • Gross profit: CAD 14.8 million (56% margin), up from 51% margin in Q2 2024.

  • CapEx and intangibles: CAD 6.3 million in Q2, CAD 9 million year-to-date, mainly for battery expansion and marine equipment.

Outlook and guidance

  • Annual revenue guidance remains CAD 120–135 million, with adjusted EBITDA of CAD 26–34 million.

  • Guidance midpoints imply 40% revenue growth and 45% Adjusted EBITDA growth for the year.

  • Second half of 2025 expected to see significant revenue and EBITDA growth, driven by defense and commercial markets.

  • Strong sales pipeline, especially in defense, with multiple large RFPs and contract opportunities anticipated.

  • Additional subsea battery manufacturing capacity coming online.

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Frequently asked questions

Kraken Robotics Inc. is a marine technology company specializing in the development and manufacturing of advanced sonar and optical sensors, subsea power systems, and underwater robotic systems. The company's products are designed for use in underwater exploration, defense, and offshore energy sectors, enabling applications such as seabed mapping, environmental monitoring, and infrastructure inspection. Kraken Robotics leverages proprietary technologies to deliver high-resolution imaging solutions and autonomous underwater vehicle (AUV) capabilities to support its clients in challenging underwater environments. The company is headquartered in St. John’s, Canada, and its shares are listed on the TSX.

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