Kraken Robotics Sees Strong Momentum Continuing
;s strongest quarter to date for both the product and service businesses.Revenue mix was 70% Product / 30% Service. Product revenue in the quarter was $19.6 million, an increase of 287% over the comparable quarter.The increase was the result of continued delivery of subsea batteries, work with the Canadian Navy on its Remote Minehunting and Disposal Systems program, the production of the company’s KATFISH product as well as the sale of Synthetic Aperture Sonar systems.Kraken is reiterating its 2024 financial guidance. For 2024, Kraken expects revenue between $90.0 million to $100.0 million and
Kraken Robotics Reports Strongest Quarter in History
quarter and was Kraken’s strongest revenue quarter to date. Revenue mix was 85% products / 15% services.• Product revenue in the quarter was $17.2 million, an increase of 126% over the comparable quarter. The increase was the result of continued sales of subsea batteries, work with the Canadian Navy on its Remote Minehunting and Disposal Systems (RMDS) program, the production of our KATFISH product as well as the sale of synthetic aperture sonar (SAS) systems. • Service revenue in the quarter was $3.2 million, a decrease of 32% over the comparable quarter due to a large Acoustic
Kraken Robotics Appoints Adu as Head of Services Business
, project management, business development, HSSE, and production. "As a global leader in the marine technology sector, Kraken has been attracting talent worldwide from notable companies and organizations such as Ultra Defense, Cenovus Energy, ExxonMobil, Mind Technologies, the Royal Canadian Navy, Turkish Navy, and Technip. As the market for naval defense technologies is seeing strong secular growth, Kraken has been building increased depth in our Business Development and Sales teams," Kraken said.Kraken said that commander Peter Kirkegaard would be migrating to Kraken’s sales
Kraken Robotics Reports Strong Q2
Kraken Robotics Inc. has announced solid financial results for the quarter ended June 30, 2023.Products revenue in the quarter was $10.5 million, an increase of 24% over the comparable quarter. The increase was the result of continued sales of KATFISH, subsea batteries, work with the Canadian Navy on its RMDS program as well as the sale of synthetic aperture sonar (SAS) systems. Services revenue in the quarter was $3.2 million, a decrease of 45% over the comparable quarter due to a large Acoustic Corer project in the comparable quarter a year ago. Sequentially, services revenues increased 41%
Kraken Wins $50+ Million Contract for Royal Canadian Navy Minehunting
acquisition program followed by an initial five-year Integrated Logistics Support (ILS) program, which includes options for additional equipment, spare parts, training, and technical support.Under the program, Kraken will deliver remote minehunting and disposal systems to His Majesty’s Royal Canadian Navy on the East Coast (located in Halifax, Nova Scotia) and the West Coast (located in Esquimalt, British Columbia). The RMDS consists of two classes of Autonomous Underwater Vehicles (AUVs): Light Weight AUVs and Operator Portable AUVs, all of which will be equipped with Kraken’s AquaPix synthetic
Hydrogen Fuel Cell Powered AUV Demonstrated
;s command and control center via Iridium satellite. The operation was the first of its kind and demonstrated near real-time, over-the-horizon communications from a submerged AUV.The demonstration was observed by representatives from Trusted Autonomous Systems (TAS), the Royal Australian Navy, Royal Canadian Navy, Defense Research Development Canada (DRDC), Defense Science & Technology Group (DSTG Australia) and the Minister of State for Trade, Vancouver-Fraserview, George Chow, as part of Cellula's ongoing work with TAS' SeaWolf program. TAS is Australia's first Defense Cooperative Research
Kraken's Robotics as a Service (RaaS) Contract with Royal Canadian Navy Deemed 'Success'
Canadian marine robotics company Kraken Robotics Inc. has successfully completed a Robotics as a Service (RaaS) contract with the Royal Canadian Navy, for the testing of Kraken’s ultra-high-resolution survey equipment. This $0.5 million contract was funded under the government of Canada’s Innovative Solutions Canada program, and the testing department for this service offering was the Royal Canadian Navy's Fleet Diving Unit Atlantic (FDU-A) based in Halifax, Nova Scotia. The Royal Canadian Navy has a mandate to develop and maintain an advanced sonar imaging and data storage
Kraken Wins Robotics as a Service (RaaS) Contract from Government of Canada
Kraken Robotics Inc. signed a Robotics as a Service (RaaS) contract with the Canadian government for testing of Kraken’s ultra-high resolution survey equipment with the Royal Canadian Navy (RCN). This $500,000 contract is funded under the Canadian government’s Innovative Solutions Canada program, and the testing department for this service offering is the RCN’s Fleet Diving Unit Atlantic (FDU-A) based in Halifax, Nova Scotia. The RCN has a mandate to develop and maintain an advanced sonar imaging and data storage capability for all three coasts, and to deploy this capability to
Kraken to Provide MCM Solutions for Denmark's SHD
promote and sell containerized subsea surveillance solutions with a variety of Kraken’s surveillance solutions. In Canada, Kraken, supported by SHD, will promote, sell, deliver, install and service SHD hydraulic, electric and mechanical system modular containerized solutions to the Royal Canadian Navy, Canadian Coast Guard and commercial industry.”Today’s global naval operating environment requires navies to increase not only their range into new operating theaters like the Arctic, but also to extend their platform capabilities and to operate more autonomous and remotely piloted
February 2024
