Latest news with #KrakenRobotics
Associated Press
4 days ago
- Business
- Associated Press
Kraken Robotics Appoints Defense Industry Veteran and Former RTX and Boeing Executive Kristin Robertson to Board of Directors
ST. JOHN'S, Newfoundland and Labrador, June 04, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ('Kraken' or the 'Company') (TSX-V: PNG, OTCQB: KRKNF) announces that Kristin Robertson has been appointed to the Company's Board of Directors. Robertson, formerly of Boeing and RTX Corporation, is a highly experienced executive with more than 30 years of managing complex portfolios at top U.S. defense companies. She is currently President and owner of KBR Insights, a Virginia-based strategic consulting firm focused on operational excellence, strategy, and growth in the aerospace and defense sector. Robertson has extensive knowledge of disruptive technology, digital practices, and methodologies applied across the lifecycle of defense, space, intelligence, and commercial organizations. She led RTX Corporation's (formerly Raytheon) space business as President of Space and C2 Systems from 2022 – 2023, providing cutting edge integrated space solutions for defense, intelligence, and commercial customers globally. Before that, she spent 28 years at Boeing in multiple senior leadership positions across military aircraft and autonomous systems programs. As Vice President and Manager of Autonomous Systems, Robertson led a portfolio of seabed projects including Orca extra-large unmanned undersea vehicle (XLUUV) for the U.S. Navy and served as Board Chairman for five Boeing subsidiaries, including Liquid Robotics. Prior to Boeing, Kristin was employed by the U.S. Navy as a civilian electronics engineer at the Naval Aviation Depot in San Diego, California. She received her bachelor's degree in electrical engineering from the University of California San Diego and her master's degree in international business from Saint Louis University. 'I am honored to join the board of Kraken Robotics, a company at the forefront of ocean technology and innovation,' said Ms. Robertson. 'With its cutting-edge subsea imaging, battery and robotics solutions, Kraken is transforming how we explore and understand the deep sea. I look forward to contributing to its continued growth and global impact.' 'We are pleased to welcome Kristen to Kraken's Board of Directors,' said Greg Reid, President and CEO of Kraken Robotics. 'Her wealth of experience in the U.S. defense industry leading top contractors will be invaluable for Kraken as we move to the next stage of company growth.' Kraken also announced that its Board of Directors has approved the issuance of 3,425,000 stock options to certain employees and directors. These options have a seven-year term, with vesting in four equal instalments on the annual anniversaries of the initial date of grant. The exercise price on the options is $2.42. Figure 1: Kristin Robertson has joined Kraken Robotics' Board of Directors ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: FORWARD-LOOKING STATEMENTS Certain information in this news release constitutes forward-looking statements. When used in this news release, the words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'seek', 'propose', 'estimate', 'expect', and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary further information: Erica Hasenfus, Director of Marketing [email protected] Joe MacKay, Chief Financial Officer (416) 303-0605 [email protected] Greg Reid, President & CEO (416) 818-9822 [email protected] Sean Peasgood, Investor Relations (647) 955-1274 [email protected] A photo accompanying this announcement is available at
Yahoo
7 days ago
- Business
- Yahoo
Kraken Robotics Inc. (CVE:PNG) Just Released Its First-Quarter Earnings: Here's What Analysts Think
Last week, you might have seen that Kraken Robotics Inc. (CVE:PNG) released its first-quarter result to the market. The early response was not positive, with shares down 2.8% to CA$2.40 in the past week. Kraken Robotics' revenues suffered a miss, falling 26% short of forecasts, at CA$16m. Statutory earnings per share (EPS) however performed much better, reaching break-even. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Kraken Robotics after the latest results. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Following the latest results, Kraken Robotics' six analysts are now forecasting revenues of CA$123.8m in 2025. This would be a huge 43% improvement in revenue compared to the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of CA$129.0m and earnings per share (EPS) of CA$0.072 in 2025. So we can see that while the consensus made a minor downgrade to revenue estimates, it no longer provides an earnings per share estimate. This suggests that the market is now more focused on revenue after the latest result. View our latest analysis for Kraken Robotics There's been no real change to the consensus price target of CA$3.39, with Kraken Robotics seemingly executing in line with expectations. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Kraken Robotics, with the most bullish analyst valuing it at CA$4.00 and the most bearish at CA$3.00 per share. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting Kraken Robotics is an easy business to forecast or the the analysts are all using similar assumptions. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Kraken Robotics' past performance and to peers in the same industry. It's clear from the latest estimates that Kraken Robotics' rate of growth is expected to accelerate meaningfully, with the forecast 61% annualised revenue growth to the end of 2025 noticeably faster than its historical growth of 40% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 13% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Kraken Robotics to grow faster than the wider industry. The most important thing to take away is that the analysts downgraded their revenue estimates for next year. They also downgraded Kraken Robotics' revenue estimates, but industry data suggests that it is expected to grow faster than the wider industry. The consensus price target held steady at CA$3.39, with the latest estimates not enough to have an impact on their price targets. At least one of Kraken Robotics' six analysts has provided estimates out to 2027, which can be seen for free on our platform here. Even so, be aware that Kraken Robotics is showing 1 warning sign in our investment analysis , you should know about... Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Kraken Robotics Reports Q1 2025 Financial Results and Reiterates 2025 Guidance
ST. JOHN'S, Newfoundland and Labrador, May 29, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) ("Kraken" or the "Company"), announced it has filed its financial results for the quarter ended March 31, 2025 ('Q1 2025'). Please refer to the unaudited Consolidated Financial Statements and Management's Discussion and Analysis (' MD&A ') for quarter ended March 31, 2025, filed on for more information. Unless otherwise specified, all dollar amounts are denominated in Canadian dollars. Q1 2025 Financial Highlights Consolidated revenue in Q1 2025 decreased 23% to $16.1 million, compared to $20.9 in the prior year. The decrease was driven by a year-over-year decline in Product revenue. Product revenue in the quarter decreased 42% to $9.2 million, compared to $15.8 million in the prior year. While the quarter saw significant growth in our SeaPower™ subsea battery business, our sonar related revenue declined as the acquisition part of the Canadian Navy system integration project nears completion. As in the past, quarterly revenue can fluctuate significantly due to the timing of product orders and shipments. Service revenue in the quarter increased 38% to $7.0 million compared to the prior year due to the continued demand for Sub-Bottom Imager™ and Acoustic Corer™ services. Just after the quarter ended, we completed the acquisition of subsea LiDAR services company, 3D at Depth. Combined with the recent introduction of our KATFISH subsea survey platform into the commercial offshore service market, we have a growing complement of solutions to offer our expanding Services customer base. Gross profit in the quarter increased 8% to $10.1 million, compared to $9.3 million in the prior year, implying a gross margin of 62.7% compared to 44.8%. Gross margin percentage was impacted by several one time items in the quarter. Future quarters are expected to be reflective of our historic gross profit margins. Adjusted EBITDA 1 for the quarter decreased 32% to $2.8 million, compared to Adjusted EBITDA 1 of $4.1 million in the comparable quarter, implying an adjusted EBITDA 1 margin of 17.3% compared to 19.6% in the comparable year. Total assets were $178.8 million on March 31, 2025, compared to $73.5 million on March 31, 2024. Cash at the end of the quarter totaled $58.3 million, compared to $1.5 million in the prior year, while working capital totaled $94.6 million, compared to $6.5 million in the prior year. Capital expenditures/intangible assets purchased were $2.7 million in the quarter, compared to $0.8 million in the comparable quarter. The increase is related to our new battery facility in Canada as well as growth in internal assets to drive service revenue growth. Net income for the quarter was $0.2 million compared to a profit of $2.2 million in the comparable quarter. Basic and diluted earnings per share were $0.00 compared to $0.01 in the prior year. Management Comments 'Similar to previous years, we expect financial results to improve throughout the year and expect strong top and bottom-line growth in 2025, as indicated by our 2025 financial guidance given a month ago. Our largest market of naval defense has strong macro fundamentals with growth being seen across the globe as navies modernize for the future and increasingly adopt uncrewed platforms. In providing sensor and power solutions to the major suppliers of UUVs, we benefit from this growing adoption. For our towed synthetic aperture sonar sensor platform, KATFISH, we have a busy year of customer demonstrations in North America, Europe, the Middle East, and Asia Pacific. Historically, successful demonstrations have driven future contract wins. The level of defense RFP activity expected from 2025 to 2027 is at levels the industry has not seen in many decades and is driving our optimism on this segment of our business. With new manufacturing capacity in Canada coming online at the end of this year and a growing presence in the US both organically and through our acquisition of 3D at Depth, we are well positioned to meet customer needs in the offshore energy and naval defense markets,' said Kraken President and CEO Greg Reid. Since the end of Q4, Kraken Robotics announced: Several meaningful new orders, including almost $45 million in subsea battery orders and $3 million in orders for Kraken SAS. Plans to open a new battery production facility in Nova Scotia to meet increasing defense market demand. The acquisition of subsea LiDAR company 3D at Depth with offices in Texas, Colorado, and the UK. The introduction of KATFISH synthetic aperture sonar service for the global offshore energy market. 2025 Financial Guidance Annual financial guidance remains unchanged from the guidance provided on April 28, 2025. In 2025, we expect revenue between $120 million and $135 million and Adjusted EBITDA 1 margin in the $26 million to $34 million range. The midpoint of guidance represents 40% revenue growth and 45% Adjusted EBITDA growth. Capital expenditures in 2025 are expected to range from $13 million to $17 million with approximately $10 million of this spending related to a new subsea power manufacturing facility that is expected to be operational in Nova Scotia near the end of 2025. Consistent with prior years, revenue is expected to be more weighted toward the second half of calendar year 2025. NON-IFRS MEASURES The Company has included certain non-IFRS financial measures and non-IFRS ratios in this press release, including adjusted EBITDA, adjusted EBITDA margin, gross profit, gross profit margin, and working capital. Management believes that non-IFRS financial measures and non-IFRS ratios, when supplementing measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-IFRS financial measures and non-IFRS ratios do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Adjusted EBITDA and Adjusted EBITDA Margin The Company believes that, in addition to conventional measures prepared in accordance with IFRS, adjusted EBITDA is useful to securities analysts, investors and other interested parties in evaluating operating performance by presenting the results of the Company on a basis which excludes the impact of certain non-operational items which enables the primary readers of the press release to evaluate the results of the Company such that it was operating without certain non-cash and non-recurring items. Adjusted EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization, stock-based compensation expense and non-recurring impact transactions, if any. ($ 000s) Unaudited Q1 2025 Q1 2024 Net Income 215 2,175 Income Tax 304 56 Financing costs 701 388 Interest income (311) - Foreign exchange gain (433) (69) Share-based compensation 404 57 Depreciation and amortization 1,579 1,425 EBITDA - excluding restructuring and acquisition costs 2,459 4,032 Restructuring and acquisition costs 335 69 Adjusted EBITDA 2,794 4,101 Adjusted EBITDA Margin 17 % 20 % Gross profit is defined as revenue less cost of total sales. Gross margin is defined as gross margin dividend by total sales. Gross Profit ($ 000s) Unaudited Q1 2025 Q1 2024 Revenue 16,128 20,875 Cost of sales 6,010 11,529 Gross profit 10,118 9,346 Gross profit margin (%) 63 % 45 % Figure 1: Kraken's Sub-Bottom Imager (SBI) delivers 3D data, enabling a clear understanding of subsea stratigraphy, underwater infrastructure, and hazards. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: The Company and its management believe that the statements regarding 2025 revenue and adjusted EBITDA contained in this press release are reasonable as of the date hereof, are based on management's current views, strategies, expectations, assumptions and forecasts, and have been calculated using accounting policies that are generally consistent with the Company's current accounting policies. These statements are considered future-oriented financial outlooks and financial information (collectively, "FOFI") under applicable securities laws. These statements and any other FOFI included herein have been approved by management of the Company as of the date hereof. Such FOFI are provided for the purposes of presenting information about management's current expectations and goals relating to the Company's expected growth in its Products and Services groups. However, because this information is highly subjective and subject to numerous risks, including the risks discussed in the disclaimer for forward looking statements below, it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the FOFI prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although management of the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any FOFI, whether as a result of new information, future events or otherwise, except as required by securities laws. Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Marketing Joe MacKay, Chief Financial Officer (416) 303-0605 jmackay@ Greg Reid, President & CEO (416) 818-9822 greid@ Sean Peasgood, Investor Relations (647) 955-1274 sean@ 1 Adjusted EBITDA is a non-IFRS financial measure and gross margin, and adjusted EBITDA margin are non-IFRS ratios, in each case with no standard meaning under IFRS, and may not be comparable to similar financial measures disclosed by other issuers. Refer to the "Non-IFRS Measures" section of this press release. A photo accompanying this announcement is available at
Yahoo
20-05-2025
- Business
- Yahoo
Kraken Robotics Announces More than $3 Million in Synthetic Aperture Sonar Sales
ST. JOHN'S, Newfoundland and Labrador, May 20, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ('Kraken' or the 'Company') (TSX-V: PNG, OTCQB: KRKNF) announces that it has received new orders totaling more than $3 million for Kraken Synthetic Aperture Sonar (SAS). The Kraken SAS systems will be integrated on small and medium-class uncrewed underwater vehicles (UUVs) for clients in Asia Pacific, Europe, and North America. 'We continue to see high demand for our synthetic aperture sonar on uncrewed systems, especially for small-class UUVs,' said Greg Reid, President and CEO of Kraken Robotics. 'Kraken SAS enables clients to significantly increase the capabilities of their uncrewed platforms, providing a larger swath with consistent high resolution, enabling missions to be completed faster and more accurately.' One of the orders is for the University of Southern Mississippi's Roger F. Wicker Center for Ocean Enterprise, which will be outfitting a variety of autonomous underwater vehicles (AUVs) and autonomous surface vessels (ASVs) with Kraken SAS to support research, development, testing, and evaluation activities. Kraken SAS integrates the capability to perform imaging and bathymetric mapping simultaneously, offering user selectable 3 cm x 3 cm or 2 cm x 2 cm processing and increased ranges up to 200 meters per side. Its flexible, modular design allows integration across all small, medium, and large diameter UUVs rated to 300, 1000, or 6000 meter 1: Kraken Synthetic Aperture Sonar image of a sunken barge in Halifax Harbour. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: LinkedIn X Facebook YouTube Instagram FORWARD-LOOKING STATEMENTS Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@ Greg Reid, President & CEO(416) 818-9822greid@ Sean Peasgood, Investor Relations(647) 955-1274sean@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Kraken Robotics Announces More than $3 Million in Synthetic Aperture Sonar Sales
ST. JOHN'S, Newfoundland and Labrador, May 20, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ('Kraken' or the 'Company') (TSX-V: PNG, OTCQB: KRKNF) announces that it has received new orders totaling more than $3 million for Kraken Synthetic Aperture Sonar (SAS). The Kraken SAS systems will be integrated on small and medium-class uncrewed underwater vehicles (UUVs) for clients in Asia Pacific, Europe, and North America. 'We continue to see high demand for our synthetic aperture sonar on uncrewed systems, especially for small-class UUVs,' said Greg Reid, President and CEO of Kraken Robotics. 'Kraken SAS enables clients to significantly increase the capabilities of their uncrewed platforms, providing a larger swath with consistent high resolution, enabling missions to be completed faster and more accurately.' One of the orders is for the University of Southern Mississippi's Roger F. Wicker Center for Ocean Enterprise, which will be outfitting a variety of autonomous underwater vehicles (AUVs) and autonomous surface vessels (ASVs) with Kraken SAS to support research, development, testing, and evaluation activities. Kraken SAS integrates the capability to perform imaging and bathymetric mapping simultaneously, offering user selectable 3 cm x 3 cm or 2 cm x 2 cm processing and increased ranges up to 200 meters per side. Its flexible, modular design allows integration across all small, medium, and large diameter UUVs rated to 300, 1000, or 6000 meter 1: Kraken Synthetic Aperture Sonar image of a sunken barge in Halifax Harbour. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: LinkedIn X Facebook YouTube Instagram FORWARD-LOOKING STATEMENTS Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@ Greg Reid, President & CEO(416) 818-9822greid@ Sean Peasgood, Investor Relations(647) 955-1274sean@ A photo accompanying this announcement is available at
