“These orders demonstrate the breadth of demand across the combined company, with contributions from defense and offshore energy customers, new and returning customers, and multiple product families,” said Greg Reid, CEO of Kraken Robotics. “The acquisition of Covelya has materially expanded the technologies and solutions we can offer our customers, while integration activities continue to progress as planned. With the vast majority of these recent product orders expected to convert to revenue within the next 12 months, this activity provides meaningful visibility as we enter 2027.”
The recent $102 million in product orders are grouped as follows:
- Over $55 million across Covelya businesses, with strength in offshore oil and gas and defense;
- $25 million for Kraken’s subsea batteries for unmanned underwater vehicle (UUV) customers in the defense sector; and
- $22 million for Kraken’s synthetic aperture sonar (SAS) systems, including the largest single SAS order in the Company’s history from an undisclosed navy customer. These advanced SAS systems will be integrated on man-portable UUVs as part of a major naval program. The program may generate additional orders over its multi-year duration.
Kraken will release its third quarter 2026 financial results prior to the opening of markets on Tuesday, November 24, 2026. Kraken’s management will hold a conference call at 8:30 a.m. ET the same day to discuss the Company’s results and outlook.
