Kraken Robotics Reports 2025 Financial Results - Kraken Robotics (OTC:KRKNF)
2026 ORDERS - KRAKEN & COVELYA
2026 FINANCIAL GUIDANCE
As previously announced in the March 3 News Release, Kraken expects revenue in 2026 to be between $165 million and $175 million and Adjusted EBITDA4 to be between $40 million to $50 million, excluding any contribution from the Covelya Acquisition. The midpoint of guidance represents over 65% revenue growth and 80% Adjusted EBITDA growth in comparison to the prior year.
The Company's strong outlook for 2026 is driven by both existing and expected purchase orders. It is also supported by expected growth in the commercial services business, including a full year contribution from LiDAR services, formerly 3D at Depth. Consistent with prior years, revenue in 2026 is expected to be weighted toward the second half of the year.
Capital expenditures in 2026 are expected to range from $15 million to $18 million, down significantly from the prior year, given the completion of the new battery manufacturing facility.
A summary table of the Company's 2026 guidance range and a comparison to 2025 results is provided below. Kraken plans to release updated 2026 guidance for the combined company upon closing of the Covelya Acquisition.
CONFERENCE CALL DETAILS
Kraken management will host a conference call today, April 16, 2026, starting at 8:30 a.m. ET to discuss the financial results. Participants can listen to this event at the webcast details below, or by dialing 1-833-752-3301 (North America) or 1-647-846-2734 (International) for operator assistance. A recording will also be made available following the call.
NON-IFRS MEASURES
Adjusted EBITDA and Adjusted EBITDA Margin
Gross profit is defined as revenue less cost of total sales. Gross profit margin is defined as gross margin dividend by total sales.
Figure 1: Kraken Robotics SeaPower batteries emerging from a pressure test system.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans - safely, efficiently, and sustainably.
Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage.
Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide.
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FORWARD LOOKING STATEMENTS
Forward-looking statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information:
Erica Hasenfus, Director of Global Marketing
[email protected]
Shant Madian, Director of Capital Markets
[email protected]
Kraken Robotics Inc.
+1 709-757-5757 or [email protected]
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