Kraken Robotics Sees Strong Momentum Continuing
.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 Adjusted EBITDA in the $18.0 million to $24.0 million range. Capital expenditures in 2024 are expected to range from $6.0 million to $7.0 million.“2023
Kraken Robotics Reels In $2.4M Sonar and Subsea Power Contracts
Canadian company Kraken Robotics has secured contracts totaling $2.4 million for subsea batteries and synthetic aperture sonar systems (SAS).The SAS sensor contracts are for a Research Institute and a Hydrographic Office of an unnamed Navy.No details can be provided on the subsea power customer due to confidentiality, Kraken Robotics informed.Deliveries of the systems will take place in 2024.
Kraken inks $2.7m in Sonar, Subsea Battery Contracts
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) received contracts totalling $2.7m for subsea batteries and synthetic aperture sonar systems (SAS). The SAS sensor contracts represent two new customers, continuing the growth of Kraken's list of users. One customer is a European Research Institute operating next-generation AUVs, and the other is a NATO member country in underwater defense applications. Deliveries will occur in 2024.
Atlantic Canada Profiles: Kraken
Kraken Continues to Innovate & Expand St. John’s, Newfoundland based Kraken Sonar is a leader in delivering advanced Synthetic Aperture Sonar systems. Kraken’s goal is to bring innovative and disruptive technologies to the maritime sector, while reducing costs and increasing capability. Kraken believes that by using the latest technologies available, and not being tied to legacy architectures, it can advance marine technology at a pace equivalent to consumer electronics sectors, while keeping it affordable. Kraken’s flagship sonar the MINSAS (Miniature Interferome
MSI Delivering SAS Components for Raytheon’s Surveyor Solutions
MSI is now producing two new Synthetic Aperture Sonar (SAS) components for two systems of Raytheon Integrated Defense Systems’ PROSAS suite of sonar solutions. Raytheon’s PROSAS Surveyor family of synthetic aperture sonar systems provides high‐definition sonar capabilities for a wide range of applications. The PROSAS Surveyor 60 (PS60) and PROSAS Surveyor 175 (PS175) systems collect simultaneous side scan, SAS data and operate at 6,000 meter depth. Both multifunction, wide swath systems enable coverage rates up to three times greater than conventional side scan sonar systems. MSI's
February 2024
