Coda Octopus reports Q2 EPS 9c vs. 5c last year

Reports Q2 revenue $5.3M vs. $5.0 last year. “Our management continues to focus on growing the Company while demonstrating that we run a profitable business year-on-year,” said Annmarie Gayle, CODA‘s Chairman and CEO. “With our research and development phase of our growth pillars substantially completed, we are now focused on growing the market for our core technologies. Although our financial results for Q2 were not in line with our internal business plan targets, we believe we have made good progress in the areas which are critical for our growth strategy. Notable in the SQ2023, we sold $1.0M of DAVD systems, which will now be distributed to different US Navy commands. Field use of the technology is vital for expediting the adoption of the technology on a wider scale, and we believe we are making good progress to achieve this. We are prioritizing and staying focused on converting this transformational technology into full scale adoption both within the US Defense market, as well as the global defense and commercial markets.”