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Coda Octopus Group, Inc. - CODA STOCK NEWS

Welcome to our dedicated news page for Coda Octopus Group (Ticker: CODA), a resource for investors and traders seeking the latest updates and insights on Coda Octopus Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Coda Octopus Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Coda Octopus Group's position in the market.

News
Coda Octopus Group Announces Launch of AI-Based Digital Audio Communications System “Voice HUB-4” After Successful Tests with Naval Customers.
Rhea-AI Summary

Coda Octopus Group, Inc. (CODA) announced the launch of the Voice HUB-4, an AI-based digital audio communication system, after successful tests with Naval customers. The system offers advanced features like Digital Noise Removal, Background Noise Control, and Helium Speech Descrambling, improving communication quality between divers and surface supervisors. Voice HUB-4 is a spin-off from the Diver Augmented Vision Display (DAVD) technology, developed in collaboration with US Navy customers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.59%
Tags
AI
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News
Coda Octopus Group Reports Sizable Sale of Echoscope PIPE® Sonars to Major Offshore Service Provider.
Rhea-AI Summary
Coda Octopus Group, Inc. (CODA) announced a significant sale of Echoscope PIPE® sonars worth $1,000,000 to a major offshore service provider. The sonars will be used for various underwater construction projects, including breakwater construction, offshore renewables, and salvage operations. The technology is also being utilized for the Francis Scott Key Bridge collapse in Baltimore, demonstrating its effectiveness in complex scene inspection applications.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.33%
Tags
none
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News
Coda Octopus Group Appoints Gwenael Rouy Poirier to its Board of Directors
Rhea-AI Summary
Coda Octopus Group appoints Gwenael Rouy Poirier to its Board of Directors. Gwenael brings over 27 years of experience in Aerospace and Defense industries, previously serving as Group CFO for GKN Aerospace. He aims to help the company achieve further growth with its innovative technology.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.65%
Tags
management
News
Coda Octopus Group Reports that its Echoscope® Technology used as the Primary Survey Tool in the Francis Scott Key Bridge ongoing salvage operations.
Rhea-AI Summary
Coda Octopus Group, Inc. (CODA) reports the use of its Echoscope® technology in salvage operations, showcasing its leadership in sonar technology. The technology aids in challenging conditions with visibility, highlighting its effectiveness in real-time subsea intelligence. Blair Cunningham, CODA’s President of Technology, expresses pride in the company's role in these operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.36%
Tags
none
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News
Coda Octopus Group Reports Fiscal First Quarter 2024 Financial Results
Rhea-AI Summary
Coda Octopus Group, Inc. reported unaudited financial results for its fiscal first quarter ended January 31, 2024. Despite revenue declines, the company remains optimistic about its Engineering Business segment's progress and future opportunities. The Marine Industry is showing positive signs with increased inquiries for rental solutions and opportunities for underwater construction projects. Financially, total revenue decreased by 20.3%, with a notable decline in revenues from the Marine Engineering Business. Operating income and net income also saw reductions compared to the previous year. However, the company maintained a strong balance sheet with a cash balance of $25.0 million at the end of the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.18%
Tags
earnings
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News
Coda Octopus Group, Inc., Sets Fiscal First Quarter 2024 Earnings Conference Call for Monday, March 18, 2024, at 10 a.m. Eastern Time
Rhea-AI Summary
Coda Octopus Group, Inc. will host a conference call to discuss its fiscal first quarter results on March 18, 2024. The call will provide insights into the Company's performance and future prospects.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.05%
Tags
earnings
News
Coda Octopus Group Reports Fiscal 2023 Financial Results
Rhea-AI Summary
Coda Octopus Group, Inc. (CODA) reported a decline in total revenue by 12.9% for FY2023, with a 31.4% decrease in rental revenues and a 19.5% fall in outright sales. The company faced challenges in the offshore renewable energy and underwater construction markets due to high interest rates, inflation, and supply chain issues. Despite these headwinds, the company continued to invest in its growth strategy and saw progress in its strategic goals. Operating income and net income before taxes also saw reductions, while R&D expenditures decreased by 6.3% in FY2023. The company aims to accelerate growth through Defense Underwater Vehicle Programs and the launch of new products like the Digital Audio Communications Systems – Voice HUB 4. CODA also plans to pursue an active M&A strategy to acquire complementary technologies and accelerate growth in FY2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.27%
Tags
earnings
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News
Coda Octopus Group Sets Fiscal Year 2023 Earnings Conference Call for Monday, January 29, 2024 at 10 a.m. Eastern Time
Rhea-AI Summary
Coda Octopus Group, Inc. will host a conference call to discuss its fiscal year 2023 results. The call will take place on January 29, 2024, and will be followed by a question-and-answer period. The company is a global leader in real-time 3D/4D/5D and 6D imaging sonar technology for subsea intelligence and diving technology.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.63%
Tags
earnings
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News
Coda Octopus Group Announces Increase in Scope of Supply Under Key Defense Program, Resulting in Increased Order Value
Rhea-AI Summary
Coda Octopus Group reports an increase in purchase contract value under its subsidiary's Defense Program, receiving orders worth $1m and a total of $2.9m in orders for fiscal year 2023. The company has broadened its scope of supply and sees increased opportunities for growth in its longstanding programs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.98%
Tags
none
News
Coda Octopus Group Reports Fiscal Third Quarter 2023 Financial Results
Rhea-AI Summary
Coda Octopus Group reports unaudited financial results for Q3 2023 and YTD 2023. Total revenue decreased by 22.0% in Q3 2023 compared to the same period last year. Gross margin decreased to 68.8% in Q3 2023. Net income before taxes decreased to $1.1 million in Q3 2023. Company's cash balance increased to $24.9 million. Total revenue decreased by 7.6% in YTD 2023. Gross margin remained at 68.0% in YTD 2023. Net income before taxes decreased to $3.5 million in YTD 2023. R&D expenditures reduced by 13.0% in YTD 2023. Management remains optimistic about long-term strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-16.71%
Tags
earnings
Stock CODA logo
Coda Octopus Group, Inc.

Nasdaq:CODA

CODA Rankings

#4512 Ranked by Market Cap
#1843 Ranked by Stock Gains
N/A Ranked by Dividends

CODA Stock Data

72.73M
6.20M
50.98%
20.56%
1.18%
Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing
Manufacturing
Link
United States of America
ORLANDO

About CODA

coda octopus group, inc., together with its subsidiaries, develops and sells underwater technologies and equipment for imaging, mapping, defense, and survey applications in the americas, europe, australia, asia, the middle east, and africa. the company operates through two segments, marine engineering business and marine technology business. it offers codaoctopus geosurvey data acquisition and interpretation software; acquisition products, such as hardware and software solutions for field acquisition of sidescan sonar and sub-bottom profiler; and codaoctopus geosurvey productivity suite of software that automates the tasks of analyzing, annotating, and mosaicing complex data sets. the company also provides motion sensing products, which include octopus f180 and f170 products that bring accurate positioning and motion data into offshore conditions for marine survey applications. in addition, it offers codaoctopus underwater inspection system; 3d matt, a multiple automatic target trackin