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A $50+M Canadian military contract for mine countermeasures on top of the $14M initial order for subsea power systems (proprietary lithium pressure tolerant batteries)
Bravo again
Kraken is blooming
spec
Well, bravo Kraken Robotics
First, a great earnings report and bullish projections
Second, it would seem pretty plausible, maybe likely…
… that it was a Katfish RAAS contract for the Nordstream sabotage that was the basis of the Swedish authorities announcement on Nov 18
Kraken’s announcement the following day of a “survey of subsea infrastructure” was the forensic survey conducted using the Katfish (sometime between the explosion and Nov 18)
The power cable mention is a fake or distraction just to avoid saying anything about the explosives used and evidence found
There’s a very interesting slide in the latest presentation …
…. looks suspiciously like an undetonated pipeline sabotage, ohhh, evidence
I didn’t see nothing……
Lots of mayhem in the world today
Double reef and hang tight
spec
They commented on that not long ago
They mentioned expanding their inventory as being effective in reducing the impacts of supply chain issues
The financials just released show they have beefed up critical inventory items
The growth rates on both products and services is very impressive
The great thing about government/military contracts is the “platinum combo” …. repeat business and fat checkbook
They’re solid with key clients in both public and private sectors
There’s some overhang warrants around the .40 USD range and up so it might churn a little more going into 2023
GLTY
spec
i wonder if all the global supply chain issues with chips and processors are hindering their production or delaying it at all
Nailed it! Again!
But I reiterate the previous unknown…
Can Kraken scale to fill the exploding demand for subsea acoustics tech …
On the hardware delivery, service/support, and RAAS field service contract teams
I guess we gonna find out …..
$8M contract announcement today
The wooden bat sound at the ballpark-
putting the KRAK!!! .. in Kraken
spec
Now that it’s lit
How well can the hardware and fabrication scale and keep a tight delivery assurance
On the RAAS side, what’s the current booking showing for utilization rate, new hire operators and additional hardware status??
Can Kraken Robotics make hay?
The sun shines brightly today
Do it
spec
Yes it is a great play going forward
All of the early work and funding got them in the front row for defense sales and upgrades
Standing head to head with the best in the world and winning on performance …
.. that’s a big deal
RAAS and service packages tailored to the client is the Ace
Best quote from the LD micro event “Like someone lit a match” (to the defense sector cash flow for mine countermeasures and military applications)
Boom!
spec
Nice, I will probably end up holding KRKN for a couple years. This is going to be an excellent long-term play.
KRKNF presents at LD Micro tomorrow at 10:30 Eastern
Tune in
spec
i think i’m going to pick up some more shares next week
The client roster is impressive and growing in breadth and $$ size
Finally getting a bit more awareness in the investment realm
spec
KRKNF news today. The contracts keep rolling in. Great long term potential with this one. Good share structure.
Subsea drones for security just got a turbo boost
Who popped the Nordstream 1&2 ?
Realtime high resolution sonar is the new baseline
spec
L2 finally looks a bit less sleepy
Primed for a real run if the big boys take a stake (or just took one in the throw down)
cheers
spec
I really think there is something special here. Plus their products a very cool and will be in demand for a long time. The leadership is stacked with unique experience. This will be a long term hold for me.
Been here a while… ;)
Yes, this is the inflection point that I, and many investors, look closely for
Good microcaps with their foundation validated by a stream of quality contract wins, invested in the pipeline to deliver the goods, and having a broad market that has $$$$ to spend
This is one of the best positioned companies that I can remember
Getting noticed by a broader investor base now
spec
Kraken Robotics Swings to Q2 Profit from Year-Ago Loss, Revenue $14.3 Million Vs $1.9 Million; Reiterates 2022 Guidance
By MT Newswires
— 6:42 AM ET 08/30/22
06:42 AM EDT, 08/30/2022 (MT Newswires) -- Kraken Robotics Inc. (KRKNF.NaE) on Tuesday reported Q2 net profit of $0.5 million, or $0.00 per share, compared with a net loss of $0.9 million, or $0.01 per share, a year earlier as gross margin improved.
Revenue for the quarter ended June 30 jumped to $14.3 million from $1.9 million a year earlier, the marine technology company said. Gross margin in the quarter widened to 44.8% from 39.0% in the prior year.
Kraken said revenue was driven higher by the continued delivery to the Royal Danish Navy of multiple mine-hunting systems, the addition of PanGeo Subea services, and the delivery of its SeaPower battery products to a USA defense contractor.
The company also said that it was keeping its financial guidance for 2022 unchanged. In 2022, it expects revenue to be in the $36 - $42 million range, and adjusted EBITDA in the $5 - $7 million range.
"We expect continued momentum with our Products business benefitting from increased demand in the defense world driven by upgrade cycles and geopolitical events," said CEO Karl Kenny.
"Our Service business is benefitting from our acquisition of PanGeo in 2021 and strong demand in both the offshore renewable and offshore oil and gas industries. Our contract pursuits pipeline is solid and we anticipate closing on significant opportunities in the coming months," Kenny said.
Kraken Robotics advertisement in the August issue of Marine Technology Reporter
I do believe they are a breakout company at this level
I think the SAS is cutting edge and beyond (continued development and refinement)
It boils down to revenue growth and getting that converted into shareholder value
I like the new lean toward services and recurring revenue strengths in their specialty geophysics services for the booming "foundations and power grid" activity
PanGeo should be a big boost just on their current penetration of that service
I like the hardware ....
.. but it's up to management, the engineers, the makers, the operators, and delivering on customer needs ...
....that'll show on the tape
GLTY
spec
interesting. I have felt for a long time this stock is undervalued. To me this is a good long term hold. Anything under .50 is a deal in my opinion
Dive Technologies Inc., having partnered with Kraken on the subsea pressure tolerant power system for the DIVE-LD (6000M depth rated), has recently been acquired by Anduril
this could be a significant boost to Kraken's reach into new defense markets
from Anduril's website -
I REALLY like this company and their products. I think this is being manipulated to keep it low for MM to gather shares slowly over time. IMO there is no reason for this to be where it is. Kraken will have its day.
KRKNF @ USD $.27 - this could be the epic entry point for the bull run
Kraken has a unique set of offerings in a perfectly set up environment
- automation (including full autonomous operation) in marine security
- excellence in multi-band sonar/seismic tools for defense and offshore construction
- mine hunting, surveillance, seabed characterization
- proprietary technology as a leader in subsea pressure tolerant battery systems
heavy investment in ramping the manufacturing of hardware and integration of PanGeo are at the cusp of bearing fruit to the bottom line (profitability)
Selling subsea offerings as a service offers huge advantages to the customer base in acquiring the data at a high level of proficiency and maintaining leading-edge quality
spec
Now moving as predicted
Q2 microcap review has an article on Kraken Robotics
page 17
https://pr.report/4fq1RZHj
very encouraged about the future
spec
Yeah, the next financial report is going to be very enlightening
still watching this. it definitely has a lot of potential
I agree. This is a great opportunity to accumulate shares.
Another big contract
Unfortunately, another example of the latest news is slow to appear in US news feeds
That seems to be a drag on the critical “shareholder awareness” factor for TSX stocks traded on the OTC via depository shares
With time it self-corrects
No question in my mind that Kraken is headed toward an exceptional run
spec
Not bad but the net loss gives an excuse to MMs to take a morning dip
It would help if the US side had better newsfeed exposure on releases
Very strong numbers, especially with the lag from building inventory and the inevitable bulge in accounts receivable during rapid scaling
All in, the future is extremely bright for Kraken and they’ve validated their scalability from a small custom part supplier to a major defense contractor AND a world leader in a very hot subsea services sector
spec
Good strategy since it always seems to dip.
Downward revisions in earnings expectations by the 2 analysts that cover Kraken Robotics combined with a big market dip = lowered trade range
If you like the future prospects of Kraken, buy the dip
not rocket science
They're getting "world class" wins in military contracts and subsea construction (renewable energy and cable/pipeline surveys)
It'll run hard if/when the good numbers start flowing in
almost there, situational awareness and patience are the key
spec
LOL, good to know
I guess I was fooled by all the pretty pictures
If your astute observation is correct, it follows that the clients must all be idiots too
Everything we needed to know about this company in 4 words
Sure saves a lot of time on DD
spec
This company sucks seaweed.
Board like a ghost town just like the stock performance.
A good follow-up story from Kraken or the Couvillion Group on the results of this project will be a booster in the future
some visualizations in presentation form would be excellent! Are you listening Kraken??
That's basically SONAR in a nutshell, the magic is all in the "listening"
spec
PanGeo Subsea, a Kraken Robotics Company, Awarded $5 Million Decommissioning Campaign from Couvillion Group
V.PNG | 48 minutes ago
ST. JOHN’S, Newfoundland and Labrador, March 30, 2022 (GLOBE NEWSWIRE) -- PanGeo Subsea, a wholly owned subsidiary of Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company™, is pleased to announce the award of a $5 Million Acoustic Corer™ contract in the US Gulf of Mexico. Couvillion Group issued this decommissioning project to PanGeo for commencement in Q2, 2022. This 90-day campaign is the largest Acoustic Corer™ project undertaken by the Company to date.
In 2004, a storm induced mudslide caused an offshore jacket to topple. The jacket has been lying on the seafloor in 150 meters of water with the subsea conductors buried under 60 meters of mud. PanGeo will use its high-resolution sub-seabed imaging technology to identify where the conductors are located in the debris field to provide valuable information to enable the planning of the plug and abandonment of the well.
In addition to this debris survey, PanGeo has recently been issued a Letter of Intent for a multi-million-dollar Acoustic Corer™ campaign (50 days) for an offshore wind farm in the Baltic where it will be imaging boulders in the sub-seabed mitigating the risk for pile refusal.
Other technologies in the PanGeo services portfolio include the ROV mounted Sub-Bottom Imager™ and the Remotely Operated Towed Vehicle the SeaKite™. These technologies acquire sub-seabed 3D acoustic synthetic aperture sonar to resolutions better than 10 cm.
Management Comments
Moya Cahill, PanGeo’s CEO said, “the Acoustic Corer™ delivers a unique solution to the industry that has been tried and proven by the Couvillion Group in a demonstration project in 2019. We are truly excited to return to this site and work with the Couvillion team to complete a full site investigation of the debris field.”
“We believe that PanGeo has the key to unlock the unknowns below the seafloor that will ultimately enable a successful plug and abandonment of the well”, said Couvillion Group’s CEO, Timmy Couvillion
KRKNF climbing through .38 now
The hidden beauty of these military contracts is that when the hammer comes down and budgets get suddenly amped up (as they are now) ..
The military doesn't sit on cash, they spend it ... fast
so the contractors in the current pipeline are easy places to push it
"uhhh, those KBAX32s that we ordered 2 with option for 10 more... yeah ... OK, change that to 35 and 10"
Most noteworthy - I think the autonomous components will dominate a huge sector of military going forward
RAAS - unsung now, we'll be hearing a lot more good news via the PanGeo group
spec
Polish Navy has Katfish and Tentacle ALARS on their Mine Countermeasure Vessels
https://defence24.com/armed-forces/navy/polish-navy-procures-more-kormoran-mcmvs
spec
PanGeo (Kraken subsidiary) News
Absolutely, the revenues should be ramping up nicely on this next report
Defense spending increases due to the Ukraine war might kick in a lot faster than the ordinary procurement cycle in military purchasing
In the US at least, there is often money that can be applied immediately if there is sufficient urgency, then backfilled in the budgeting
spec
This is a long term hold. The contracts are coming in.
Looks like the newest contracts announced today got some interest
They're getting all the burners lit
Hold on
spec
I think this year we will see good fruits come from the deals that have been done already. I really like this company and what kind of business they are in. Its definitely a growing industry with massive market potential. Especially with these international military contracts.
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