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Against the backdrop of a sector-wide compression in next-generation defense technology multiples, Kraken Robotics (OTC: KRKNF) has shed more than half its value since hitting a lifetime high of $8.13 per share in March.
The subsea robotics company is now trading roughly 21% below its 2026 opening level, with investors pricing in integration uncertainty following its CA$615 million acquisition of Covelya.
The second-quarter print did little to settle nerves. Revenue came in at CA$27.3 million, up 4% year over year.
A CA$1.5 million reversal of previously recognized product revenue, attributed to a change in scope on an integration project, trimmed the reported figure; strip that out and sales would have been CA$28.8 million, up 9% year over year.
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