Kraken Robotics Q2 Revenue Grows 16% to $26.4 Million

Kraken Robotics Inc. announced on August 21, 2025, its financial results for the second quarter of 2025, reporting a 16% increase in consolidated revenue to $26.4 million, up from $22.8 million in the same period last year. The growth was primarily fueled by the company's subsea battery and services divisions, bolstered by the recent acquisition of 3D at Depth Inc.

Product revenue saw a decrease of 14% to $16.5 million, attributed partly to the nearing completion of a Canadian Navy systems integration project. However, service revenue surged by 180% to $9.8 million, reflecting strong organic growth in sub-bottom imaging services and contributions from 3D at Depth's subsea LiDAR services.

Gross profit rose by 27% to $14.8 million, with gross profit margins improving to 56% from 51% in the prior year. Adjusted EBITDA for the quarter was $4.7 million, a slight decrease from $5.4 million in Q2 2024, reflecting increased investments in business development and operational systems to support growth. Total assets significantly increased to $184.3 million.

The company reiterated its full-year 2025 financial guidance, projecting revenues between $120 million and $135 million and Adjusted EBITDA between $26 million and $34 million. Kraken Robotics anticipates continued growth, particularly within the naval defense sector and through advancements in its uncrewed platform technologies and subsea battery manufacturing capabilities.