Coda Octopus Group Inc Stock Price, News & Analysis

Coda Octopus Group (NASDAQ: CODA) reported its fiscal Q2 2025 results, showing strong revenue growth of 31.8% to $7.0 million. The company's Marine Technology Business revenue increased by 10% to $3.9 million, while Marine Engineering Business grew 2.3% to $1.84 million. The newly acquired Acoustics Sensors and Material segment contributed $1.3 million. Despite revenue growth, net income decreased 35.8% to $0.9 million, with diluted EPS of $0.08 compared to $0.13 in Q2 2024. The company highlighted significant progress in its DAVD Program, securing orders worth $1.53M for tethered systems and preparing to deliver 16 untethered systems. CODA maintains a strong cash position of $24.5 million, up $2.0 million from October 2024. While rental revenue declined 75.9% due to reduced offshore renewable projects, equipment sales increased 65.5%, and the company sees opportunities in defense spending and domestic oil & gas production.

Coda Octopus Group (NASDAQ: CODA), a leader in real-time 3D/4D/5D and 6D imaging sonar technology and augmented reality diving technology, has scheduled its fiscal second quarter 2025 earnings conference call for Monday, June 16, 2025, at 10:00 a.m. Eastern Time. The company will release its financial results for the quarter ended April 30, 2025, via press release before market open on the same day. Management will provide prepared remarks followed by a Q&A session. The call will be accessible via U.S. dial-in numbers (1-877-451-6152 or 1-201-389-0879) and international number (1-201-389-0879) with Conference ID 13753929. A replay will be available until June 30, 2025.

Coda Octopus Group (NASDAQ: CODA) has secured a $1.5 million order for its DAVD tethered systems bundled with Echoscope® from the US Navy. The order expands DAVD technology deployment beyond the current nine naval commands. This follows a March 2025 order for 16 DAVD Untethered Systems for Special Operations Command.

The company has achieved a significant technological advancement with its new generation Head-Up-Display (HUD), featuring a 200% increase in resolution and expanded field of view. This improved design offers better compatibility with specialized dive helmets and masks, opening opportunities in previously underutilized markets. CODA is now focusing on expanding DAVD technology adoption to foreign navies and the commercial sector.

Coda Octopus Group (NASDAQ: CODA) has secured a $1.4 million engineering services order through its UK-based defense subsidiary, Coda Octopus Martech The order, received from a major UK Defense Contractor, is for sub-components that will be integrated into autonomous mine sweeping systems.

The company's Portland-based defense engineering division, established since 1988, maintains important pre-qualifications for participating in major defense contract programs. CEO Annmarie Gayle highlighted the acceleration of European Defense Programs and removal of contracting barriers, positioning Martech to potentially benefit from increased European defense spending initiatives.

Coda Octopus Group (NASDAQ: CODA) has secured two orders worth $1.3 million from the US Government through its Salt Lake City-based Defense Engineering Services Business, Coda Octopus Colmek. The orders are for proprietary parts serving as sub-components in a critical Defense program of record.

The direct contracting nature of these orders, bypassing the Prime contractor, opens possibilities for increased direct contract opportunities. This development marks a gradual easing of delays in U.S. Defense Programs that the company has been experiencing since fiscal year 2024.

The company aims to restore its Engineering Business to its pre-COVID revenue profile of $10 million through increased program participation and expanded supply of proprietary sub-components, including its tactical mission computers, Thermite®.

Coda Octopus Group (NASDAQ: CODA) reported strong financial results for fiscal Q1 2025. Total revenue increased 16.8% to $5.2 million, with net income rising 44.9% to $0.91 million. Earnings per share improved to $0.08 from $0.06 year-over-year.

The company received its first order worth $800,000 for 16 DAVD untethered systems (DUS), marking a significant milestone. These systems will be integrated into MK16 Underwater Breathing Apparatus for SPECWAR and EOD applications. The DUS system represents a substantial market opportunity, potentially serving 75% of U.S. Navy's 4,000 active divers and approximately 10,000 Public Safety divers.

Segment performance showed mixed results: Products revenue decreased 35.8% to $2.3 million, Services revenue increased 76.6% to $1.6 million, and the new Acoustic Sensors segment contributed $1.3 million. Gross margin slightly decreased to 65.8% from 69.2%. The company maintained a strong cash position of $22.54 million.

Coda Octopus Group (NASDAQ: CODA), a global leader in real-time 3D/4D/5D and 6D imaging sonar technology and augmented reality diving technology, has scheduled its fiscal first quarter 2025 earnings conference call for Monday, March 17, 2025, at 10:00 a.m. Eastern Time.

The company will release its financial results for the quarter ended January 31, 2025, via press release before market opening on the same day. Management will provide prepared remarks followed by a Q&A session.

Participants can join using U.S. dial-in numbers 1-877-451-6152 or 1-201-389-0879, with Conference ID: 13751915. A replay will be available until September 30, 2024, accessible via 1-844-512-2921 or 1-412-317-6671.

Coda Octopus Group (NASDAQ: CODA) reported its FY2024 financial results, showing improved performance across key metrics. Total revenue increased 5.0% to $20.3 million, with Products segment revenue up 5.7% to $12.8 million and Services segment revenue up 3.8% to $7.5 million.

The company achieved higher profitability with gross margin expanding to 69.8% from 67.3%. Operating income rose 30.8% to $3.6 million, while net income after taxes increased 16.7% to $3.6 million. Diluted EPS improved to $0.32 from $0.28.

CODA completed its first acquisition under its M&A strategy, purchasing Precision Acoustics The company made progress with its DAVD untethered system and Echoscope PIPE® technology, delivering a new generation Augmented Reality DAVD Head-Up Display with 200% increased resolution. Cash balance at year-end was $22.48 million, down $2.0 million from FY2023, with $4.6 million used for the Precision Acoustics acquisition.

Coda Octopus Group (NASDAQ: CODA), a leader in real-time 3D/4D/5D and 6D imaging sonar technology and augmented reality diving technology, has scheduled its fiscal year 2024 earnings conference call for Wednesday, January 29, 2025, at 10:00 AM Eastern Time.

The company will release its financial results for the fiscal year ended October 31, 2024, before market opening on the same day. Management will provide prepared remarks followed by a Q&A session. The call will be available for replay until February 12, 2025.