Coda Octopus Group
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Coda Octopus Group (CODA) investor relations material

Coda Octopus Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary29 Jan, 2026

Executive summary

  • Fiscal year 2025 net revenue increased by 30.7% year-over-year, reaching $26.6 million, with all business segments contributing positively and the addition of the Acoustic Sensors and Materials unit.

  • Marine technology remains the core business, generating 49.8% of consolidated net revenue, with a focus on expanding in the defense sector and AI-enabled subsea platforms.

  • Precision Acoustics Limited (PAL), acquired in late FY2024, contributed 20.4% to consolidated revenue, met earn-out targets, and expanded capabilities in underwater acoustics.

  • Key product launches included the NanoGen series of compact 3D sonars and successful completion of the DAVD untethered system hardening program, positioning for broader adoption and market expansion.

  • Contract wins, especially in DAVD and Echoscope lines, drove growth and market expansion.

Financial highlights

  • Total revenue rose to $26.6 million from $20.3 million, a 30.7% increase year-over-year.

  • Gross profit was $17.7 million (66.5% margin), down from 69.8% last year due to lower-margin business mix.

  • Operating income increased 26.6% to $4.5 million; net income was $4.1 million ($0.37 per diluted share), up from $3.6 million ($0.32 per share) in 2024.

  • Cash and cash equivalents rose to $28.7 million with no debt; total assets increased to $64.5 million.

  • R&D expenditures rose 9.2% to $2.4 million; SG&A up 27.9% to $10.7 million, reflecting PAL addition and earnout.

Outlook and guidance

  • Fiscal 2026 DAVD revenue expected to exceed $3.7 million, but timing and magnitude depend on U.S. Navy approval and budget allocations.

  • Focus on broader adoption of DAVD outside the U.S., with European navy deliveries seen as a catalyst for further international growth.

  • Anticipates initial deliveries for major defense programs in early 2026, with potential for recurring production contracts.

  • Continued investment in DAVD and Echoscope technologies, targeting integration into defense and commercial diving systems.

  • Ongoing M&A strategy to expand capabilities and market reach in fiscal 2026.

Untethered DUS adoption timeline and revenue impact?
NANO Gen Series impact on defense program adoption?
PAL's ongoing margin and expense profile?
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Frequently asked questions

Coda Octopus Group Inc., together with its subsidiaries, develops and sells underwater technologies and equipment for 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. It also develops curved projection systems that can be integrated into optical-integrated imaging sensors or other optical designs to enable full-spherical 360° view of the surroundings of a vessel. The company offers depth sounders using both acoustic and electric line-scanning; sonars for navigation including navigation virtual repeaters for remote positioning systems (RPAS); acoustic modems; collision avoidance systems; illumination lights; external lighting syste. Coda Octopus Group, Inc. was founded in 1994 and is headquartered in Orlando, Florida.

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