Kraken Robotics has secured $102 million in new product orders since its previous update on August 27, 2026, bringing combined announced orders for the company and its recently acquired Covelya Group to approximately $457 million for the year.
More than 60% of these combined 2026 orders have come from defense industry customers, with recent demand spanning defense and offshore energy markets, new and returning customers, and multiple product families.
More than $55 million of the latest orders came from Covelya businesses, reflecting demand in the offshore oil and gas and defense sectors. A further $25 million relates to Kraken’s subsea batteries for Unmanned Underwater Vehicle (UUV) customers in the defense industry.
The remaining $22 million covers Synthetic Aperture Sonar (SAS) systems, including the largest single SAS order in Kraken’s history from an undisclosed navy customer. These systems will be integrated on man-portable UUVs as part of a major naval program, which could generate additional orders over its multi-year duration.
Greg Reid, CEO of Kraken Robotics, said, “These orders demonstrate the breadth of demand across the combined company, with contributions from defence and offshore energy customers, new and returning customers, and multiple product families.
“The acquisition of Covelya has materially expanded the technologies and solutions we can offer our customers, while integration activities continue to progress as planned. With the vast majority of these recent product orders expected to convert to revenue within the next 12 months, this activity provides meaningful visibility as we enter 2027.“
Kraken is scheduled to release its third quarter 2026 financial results before markets open on November 24, followed by a management conference call at 8:30 a.m. ET to discuss the company’s results and outlook.
