Kraken Robotics (PNG) Investor presentation summary

Strategy and business overview

• Focus on delivering market-leading value through innovative subsea technologies for maritime security and offshore energy.

• Portfolio includes mission-critical products and services with dual-use applications.

• Differentiators include experience in harsh environments, proprietary IP, advanced engineering, and global facilities.

• Acquisition of Covelya expands offerings and market reach.

Financial performance and outlook

• Achieved record 2025 results: $102M revenue and $25M adjusted EBITDA.

• 2026 standalone revenue guidance: $165M–$175M, with strong order momentum in batteries, sonar, and KATFISH.

• Gross profit margin improved to 62% in 2025, up from 49% in 2024.

• Low net leverage and expanded manufacturing capacity support future growth.

• Updated 2026 guidance to include Covelya will be provided post-acquisition.

Covelya acquisition and integration

• Covelya acquisition valued at $615M, funded by cash and equity; closing expected July 2, 2026.

• Enhances scale, technical capabilities, and global presence with 1,200 employees and 25 facilities.

• Unlocks growth via cross-selling, increased addressable market, and cost synergies (~$10M in 24 months).

• Combined entity holds over 110 IP patents and advanced manufacturing assets.