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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 reached $26.4M, up 16% year-over-year, driven by strong subsea battery and service business growth, and the acquisition of 3D at Depth, offset by lower sonar revenue.

  • Service revenue surged 180% to $9.8M, fueled by organic growth in sub bottom imaging and the 3D at Depth acquisition.

  • Gross profit increased 27% to $14.8M, with gross margin rising to 56% from 51% year-over-year.

  • Adjusted EBITDA for Q2 was $4.7M (18% margin), down from $5.4M (24% margin) last year due to higher admin and business development expenses.

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

Financial highlights

  • Product revenue declined 14% to $16.5M, while SeaPower subsea battery business achieved record quarterly revenue.

  • Total assets reached $184.3M, up from $98.5M a year ago; cash increased to $32.9M, and working capital to $71.8M.

  • CapEx and intangibles reached $6.3M in Q2 and $9M year-to-date, mainly for battery expansion and marine equipment.

  • Year-to-date revenue was $42.5M, down 3% due to lower sonar revenue, offset by battery and service growth.

  • Gross profit margin improved to 56% from 51% year-over-year.

Outlook and guidance

  • Annual guidance maintained: revenue of $120M–$135M and adjusted EBITDA of $26M–$34M for 2025.

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

  • Growth expected to be back-end weighted, with strong activity anticipated in batteries and services, and a rebound in sonar in H2.

  • Large project timing and revenue recognition will determine whether results hit the high or low end of guidance.

  • Anticipates strong defense RFP activity through 2027 and 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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