1016 ET - Canadian marine technology company Kraken Robotics' C$355 million pipeline is proving its core defense business is accelerating. The company posted a 2Q operational beat with revenue up 4% to C$27.3 million and adjusted Ebitda of C$5 million, which Scotiabank analyst Kevin Krishnaratne says overshadow the legal-dispute driven loss. "Kraken's order book continues to build, with announced 2026 orders now at C$355 million on a combined basis, up from C$292 million at the July 2 update," Krishnaratne says, noting also the new long-term battery master supply agreement with an extra-large unmanned underwater vehicle builder "further validates the SeaPower franchise."
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