RE:first look at guidance
"Sales Funnel Pipeline More than $900 Million"
That's over 12X estimated 2023 revenue. There is limited to no competition and PNG's strong growth suggests it has a winning hand.
"On major sonar programs, we experience competition from a small number of companies, and Kraken often is included on multiple bid teams as various consortiums bid these navy programs. For subsea batteries, we are often the sole source provider of lithium-ion batteries to our uncrewed underwater vehicle (UUV) customers. In this market, the emergence of a new larger class of UUV, the Extra Large UUV (XLUUV) is driving increased volumes. For subsea services, our solutions are used by naval, offshore wind and offshore oil and gas customers to provide high resolution acoustic imagery of the seabed and sub-seabed, providing actionable intelligence on critical underwater infrastructure and territories." news release