Quarterly ResultJun 15, 2026, 07:02 AM
Coda Octopus Q2 Net Income +86.8% to $1.7M; EPS $0.15
AI Summary
Coda Octopus Group reported unaudited financial results for its fiscal second quarter ended April 30, 2026, showing an 86.8% increase in net income to $1.7 million and diluted EPS of $0.15. Total revenue slightly decreased by 1.6% to $6.9 million, primarily due to a 26.8% decline in its Marine Technology Business, impacted by geopolitical instability in the Middle East and Asia. However, the Defense Engineering Services Business and Acoustics Sensors and Material Business both delivered significant revenue growth. The company also announced the formal approval of its DAVD untethered system by the U.S. Navy and an initial order for its new Echoscope PIPE NANO GEN SERIES®.
Key Highlights
- Net income increased 86.8% to $1.7 million in SQ2026 from $0.9 million in SQ2025.
- Diluted earnings per share rose to $0.15 in SQ2026 from $0.08 in SQ2025.
- Total revenue decreased 1.6% to $6.9 million in SQ2026 from $7.0 million in SQ2025.
- Marine Technology Business revenue declined 26.8% to $2.8 million due to Middle East instability.
- Defense Engineering Services Business revenue increased 37.9% to $2.5 million.
- Acoustics Sensors and Material Business revenue grew 17.5% to $1.5 million.
- Operating income increased 64.8% to $1.8 million, with operating margin at 26.0%.
- Cash balance increased by $1.9 million to $30.6 million at April 30, 2026.
- DAVD untethered system formally approved by the U.S. Navy.
- Initial order received for NANO Gen Series sonars for vehicle integration.
Price Impact
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