Kraken Robotics Inc. reported second-quarter revenue of $27.3 million. This marks a 4% increase from the prior year. Gross profit margin improved to 59% from 56% year-over-year. Adjusted EBITDA grew 7% to $5.0 million.
The quarter ended June 30, 2026. These results do not include any financial contribution from the Covelya Group acquisition. The Covelya Group acquisition closed on July 2. Kraken reported a net loss of $7.5 million. This loss was largely due to a $6.9 million arbitration provision. The company reported a $0.7 million loss in Q2 2025.
Kraken secured over $27 million in new orders during the quarter. The company maintained its full-year 2026 guidance. This guidance anticipates revenue between $290 million and $320 million. The guidance includes a half-year contribution from the Covelya acquisition.