Marine tech firm Coda Octopus Q3 revenue rises on defense segment growth

Coda Octopus

14/09/2026 12:14

Overview
US subsea imaging tech firm's fiscal Q3 revenue grew 9%, core business revenue declined
Adjusted EPS for fiscal Q3 was $0.12, up from $0.11 last year
Company performance supported by growth in defense engineering and acoustics segments

Outlook
Company sees robust demand in U.S. Defense Engineering Services, especially for repairs and sustainment
Company expects long-term growth from electronic warfare and next-generation defense programs
Geopolitical instability continues to affect Marine Technology business, especially in Middle East and Asia

Result Drivers
GEOPOLITICAL INSTABILITY - Co said ongoing conflict involving Iran led to reduced procurement activity in Middle East and Asia, hurting core Marine Technology Business revenue
DEFENSE DEMAND - Strong growth in Defense Engineering Services Business driven by increased demand for repairs, sustainment and spare parts supporting U.S. defense programs
PRODUCT ORDERS AND ENGAGEMENT - Orders for DAVD tethered systems and early customer engagement with Echoscope PIPE NANO Gen Series contributed to segment activity

Company press release: ID:nGNXcg0Jkc

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$7.70 mln
$7.26 mln (2 Analysts)
Q3 EPS
 
$0.12
 
Q3 Net Income
 
$1.40 mln
 
Q3 Gross Profit
 
$5.10 mln
 
Q3 Operating Margin
 
19.90%
 
Q3 Pretax Profit
 
$1.80 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
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 39.7% above its September 11 closing price of $10.02
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 21 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)