Kraken Robotics grew its Q1 2026 revenue by 35%.
Revenue reached C$21.7 million.
This compares to C$16.1 million in Q1 2025.
Product revenue rose 50%.
Demand for SeaPower subsea batteries and Synthetic Aperture Sonar (SAS) products drove this growth.
Adjusted EBITDA reached C$3.0 million for the quarter.
Kraken reported a net loss of C$3.33 million.
This shifts from a net income of C$0.215 million in Q1 2025.
The company is investing for future demand.
Kraken expects to close its acquisition of Covelya Group near the end of Q2 2026.
Kraken reiterated its standalone full-year 2026 guidance.
Projected revenue ranges between C$165 million and C$175 million.
Projected Adjusted EBITDA ranges between C$40 million and C$50 million.
The midpoint of this guidance suggests annual revenue growth of over 65%.