I just published a new deep‑dive on Kraken Robotics’ 2025 results, and this one is packed with insights the market is missing.
The headline numbers were solid — but the real story was in the earnings call, which was loaded with multiple catalysts that set up a multi‑year growth runway. I break down all of them in detail in the post.
🔍 What I cover
- Record revenue: $102M (+12% YoY)
- 2026 outlook: $165M–$175M revenue, $40M–$50M Adj. EBITDA
- Key growth drivers:
- C‑Power batteries +30% YoY
- SAS products +60% YoY
- Subsea services +60% YoY
- Margin expansion: 62% gross margin (70% in Q4)
- EBITDA: $25M (+21% YoY), 24% margin
- CapEx: $30M into batteries, fleet, and 2026 demos
- Shift toward services — and why that’s bullish
- All the catalysts from the call: demand signals, Covelya integration, pipeline visibility, margin trajectory, and more
If you follow deep tech, defense, subsea robotics, or asymmetric microcaps, this analysis is worth your time. $PNG (+4,55%)
👉 Full post now live on Substack.
