Coda Octopus Group, Inc.

Coda Octopus Group, Inc. announced that Interim Chief Financial Officer Gayle Jardine will retire from her position effective August 3, 2026. The company has appointed Mark Kelly as the new Chief Financial Officer, with his appointment also effective August 3, 2026. Mr. Kelly brings extensive financial experience from previous roles at Medac Pharma, Chubb Insurance, Twist Bioscience Corp., and Charles River Laboratories. His compensation includes an annual base salary of £165,000 (approximately $218,625) and a $40,000 restricted stock grant.

Coda Octopus Group, Inc. (CODA) reported a substantial increase in net income for the three and six months ended April 30, 2026. Net income for the quarter rose to $1.70 million from $0.91 million year-over-year, and for the six-month period, it increased to $2.63 million from $1.82 million. While net revenues saw a slight dip in the quarter to $6.90 million from $7.02 million, they grew for the six-month period to $13.61 million from $12.23 million. The company also saw growth in total assets and stockholders' equity, alongside a reduction in total liabilities.

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®.

Coda Octopus Group, Inc. announced it will host a conference call on Monday, June 15, 2026, at 10:00 a.m. Eastern time to discuss its Fiscal Second Quarter 2026 results, which ended April 30, 2026. A press release detailing these results will be issued before the market opens on the same day. The company is a global market leader in real-time 3D/4D/5D/6D imaging sonar technology and recently acquired Precision Acoustics Limited.