Kraken Robotics 4Q Profit Slides on High Restructuring, Acquisition Costs

Dow Jones04-16 19:01

By Adriano Marchese

Kraken Robotics' profit slumped in the fourth quarter as rising restructuring and acquisition costs offset stronger operating results.

The TSX Venture-listed marine-technology company posted on Thursday a decline in net income to 54,000 Canadian dollars ($39,291), down from C$13.7 million in the comparable quarter a year ago when it benefited from a large income tax benefit.

The decline was also due to higher restructuring and acquisition costs.

The St. John's, Newfoundland-based company reported adjusted earnings before interest, taxes, depreciation and amortization rose to C$9.5 million from C$7 million. Analysts polled on FactSet expected C$8.7 million.

Consolidated revenue rose to C$28.4 million from C$28.1 million. Analysts were expecting C$29.3 million. The company said it saw growth in SeaPower subsea batteries, SAS--its advanced underwater imagining sonar--and subsea services were offset by lower revenue associated with the remote minehunting and disposal system project.

In early March, the company released guidance for the full 2026 year, projecting revenue to be between C$165 million and C$175 million, and adjusted Ebitda of C$40 million to C$50 million, excluding the contributions from its recently-acquired Covelya Group, set to close in the second quarter.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 16, 2026 07:01 ET (11:01 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Analysts polled on FactSet expected C$8.7 million. \n\n\n   Consolidated revenue rose to C$28.4 million from C$28.1 million. Analysts were expecting C$29.3 million. The company said it saw growth in SeaPower subsea batteries, SAS--its advanced underwater imagining sonar--and subsea services were offset by lower revenue associated with the remote minehunting and disposal system project. \n\n\n  In early March, the company released guidance for the full 2026 year, projecting revenue to be between C$165 million and C$175 million, and adjusted Ebitda of C$40 million to C$50 million, excluding the contributions from its recently-acquired Covelya Group, set to close in the second quarter. \n\n\n \n\n\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 16, 2026 07:01 ET (11:01 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627940682","isCrawlerRequest":true}