Coda Octopus Group Inc. Reports Q2 Financial Results
Coda Octopus Group, Inc. (Nasdaq: CODA), a leader in underwater technology solutions, announced its financial results for the fiscal second quarter ended April 30, 2025. The company, known for its real-time 4D/5D/6D imaging sonar technology and cutting-edge diving technology, reported a mixed financial performance.
Revenue Growth Amidst Profit Decline
Despite a challenging global policy environment, Coda Octopus Group saw a significant increase in revenue, rising by 31.8% compared to the previous quarter. Annmarie Gayle, Chairman and CEO, expressed satisfaction with the operational results, highlighting the company’s continued investment in its growth strategy. A notable achievement was the receipt of orders for the DAVD tethered system, valued at $1.53 million, which will expand the user base to approximately 12 Navy Commands. This expansion is expected to drive broader adoption of the DAVD systems.
Profitability Concerns
However, the company also reported a decline in profit for the quarter. Analysts had anticipated a profit per share of $0.030, a significant drop from the $0.130 per share earned in the same quarter of the previous year. The revenue for the quarter was estimated at $4.5 million, marking a 15.98% decrease from the $5.3 million reported in the prior year’s quarter.
Future Outlook
Looking ahead, Coda Octopus Group plans to deliver 16 DAVD untethered systems (DUS) for integration into the M system during the third fiscal quarter of 2025. The company remains optimistic about its long-term growth prospects, with analysts projecting a full-year profit per share of $0.330, consistent with the previous year’s performance. Revenue expectations for the fiscal year are set at $22.2 million, up from $20.3 million in the prior year.
Coda Octopus Group continues to serve a diverse range of sectors, including dredging, port security, defense, mining, and marine sciences, with its innovative geosurvey solutions and advanced imaging technologies. For more information, visit their website at www.codaoctopus.com .