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Kraken announced a fresh batch of orders worth 102 million dollars, bringing its total for the year to 457 million dollars. This is a massive figure for a company that brought in about 74 million dollars during the first nine months of last year. It shows that its underwater mapping and power systems are moving from niche technology into a standard for naval and energy fleets.
These orders are the lifeblood of the business because they build up a backlog of work that guarantees future revenue. For a company at this stage, the main risk is having expensive manufacturing plants sit idle between contracts. Landing nearly half a billion dollars in orders in a single year suggests the company has moved past that phase and is now in a high-growth cycle.
Source: GlobeNewsWire
Management has struggled to hit its own targets, missing analyst expectations in six of the last eight quarters. This suggests the business is still lumpy and difficult to forecast as it moves into mass production.
| Expectation | |
|---|---|
| EPS | $0.03 |
| Revenue | $81M |
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