Underwater sonar tech firm Coda Octopus' Q3 revenue up 29%
Overview
Coda Octopus fiscal Q3 revenue grows 29% yr/yr
Company's Marine Technology Business revenue rises 30.7%, Marine Engineering declines
Gross margin falls to 68.3% from 73.9% due to business mix changes
Outlook
Company expects DAVD sales of $3.5 mln-$4.0 mln for fiscal year 2025
Coda Octopus anticipates U.S. energy policy shift to favor its products
Company sees potential in Echoscope PIPE NANO GEN Series for defense markets
Result Drivers
DAVD PROGRAM - Significant progress in DAVD program with deliveries to U.S. Navy and foreign navy, contributing to revenue growth
MARINE TECHNOLOGY - Marine Technology Business revenue increased by 30.7%, driven by equipment sales
ENGINEERING DECLINE - Marine Engineering Business revenue declined by 33.2%, impacting overall performance
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $1.50 mln | $6.76 mln (1 Analyst) |
Q3 EPS |
| $0.11 |
|
Q3 Net Income |
| $1.28 mln |
|
Q3 Gross Profit |
| $4.80 mln |
|
Q3 Operating Margin |
| 19.5% |
|
Q3 Pretax Profit |
| $1.50 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Coda Octopus Group Inc is $10.00, about 12.4% above its September 12 closing price of $8.76
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 20 three months ago
Press Release: ID:nGNXgdlCc
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