Kraken Robotics Inc (TSXV: PNG) was another key contributor. This is a relatively new addition to the portfolio after we first initiated a position late last year. They are a marine technology company that offers subsea sensors, batteries, remotely operated vehicles and robotics services for defense and commercial applications. We believe Kraken has a strong product-market fit as one of the few mission-critical component suppliers in the marine defense technology market. We expect this market will see significant industry-wide demand over the coming years as NATO navies are increasingly adopting for autonomous defense technologies, given the productivity benefits and lower operating costs. The company provided an update in February such that they think they can achieve at least +30% Y/Y revenue growth in 2024, growing revenue off an expected +68% in 2023 [4]. With adjusted EBITDA margins that could expand into the 20% range, we believe Kraken is on a path to sustaining positive FCF generation as the firm scales.
Recent KRKNF News
- Subsea Intelligence Firm Announces New Contracts • AllPennyStocks.com • 08/31/2023 03:20:00 PM
FEATURED ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM