Kraken Robotics (TSE:PNG) has released an update.
Kraken Robotics Inc. has reported a record-setting year with a 70% revenue increase to $69.6 million and a 166% surge in Adjusted EBITDA to $14.1 million, highlighting the company’s strongest quarter to date. The growth has been attributed to the robust performance of its product and service businesses, including significant advancements in subsea batteries and naval technologies. With gross margins improving and a net income turnaround to $5.5 million from a previous loss, Kraken’s financial year showcases substantial growth and profitability.
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