Kraken Robotics Inc V.PNG

Alternate Symbol(s): KRKNF

Scientific & Technical Instruments

Kraken Robotics Inc. is a Canada-based marine technology company providing complex subsea sensors, batteries, and robotic systems. The Company’s high-resolution three-dimensional (3D) acoustic imaging solutions and services enable clients to overcome the challenges in oceans. The Company operates through two segments: Products and Services. The Products segment is engaged in the design, manufacture and sale of equipment including underwater vehicle platforms, Synthetic Aperture Sonar and subsea power equipment. Its product business consists primarily of its AquaPix MINSAS sensors, KATFISH systems, SeaPower subsea battery systems and RMDS. The Services segment is involved in the provision of services for underwater sonar and laser scanner sensor equipment and underwater vehicle platforms. Its Services business consists of services provided by robotics as a service (RaaS) portfolio of equipment including its Sub-Bottom Imager, Acoustic Corer and KATFISH.

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Kraken Robotics Inc > Kraken Robotics Q3 profit hit by higher financing costs

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Post by ITSUP2MEon Nov 22, 2024 10:29am

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Kraken Robotics Q3 profit hit by higher financing costs

08:21 AM EST, 11/21/2024 (MT Newswires) -- Kraken Robotics (PNG.V) on Thursday said third-quarter profit plunged 29% on higher financing costs.

The marine technology company said profit fell to $1.6 million from $2.3 million the year before due to financing costs linked to the credit facility agreed to in April. Kraken did not provide any figures for per share amounts.

Consolidated revenue declined 4% to $19.5 million due to lower Katfish and remote mine disposal system revenue.

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