Coda Octopus Q1 revenue rises 28.8% on marine technology business strength

Coda Octopus

17/03/2026 11:09

Overview

Subsea imaging technology firm's fiscal Q1 revenue rose 28.8% yr/yr to $6.7 mln

Net income for fiscal Q1 rose 1.9% yr/yr, diluted EPS unchanged at $0.08

Revenue growth driven by Marine Technology sales in Asia and higher equipment rental demand in Europe

Outlook

Company expects fiscal 2026 DAVD sales to be backended due to delayed defense appropriations

Company sees strong opportunities in expanding defense and underwater robotics markets

Coda Octopus continues to focus on business development for DUS, targeting European Navy sector

Result Drivers

ECHOSCOPE SALES IN ASIA - Marine Technology Business revenue rose, driven by a 63.4% increase in Echoscope sales in Asia

EQUIPMENT RENTALS IN EUROPE - Equipment rental revenue increased 232.8% from European Rental Hub

DAVD SALES DELAY - DAVD sales declined due to delays in U.S. Defense appropriations and pending Navy assessment

Company press release: ID:nGNXZfTWH

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.70 mln
$6.23 mln (1 Analyst)
Q1 Gross Profit
$4.40 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the electronic equipment & parts peer group is "buy"

Wall Street's median 12-month price target for Coda Octopus Group Inc is $14.00, about 2.8% above its March 16 closing price of $13.62

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)