Kraken Robotics has reported $102 million in new orders since its previous update on August 27, 2026, bringing total announced orders for the company and its recently acquired Covelya Group Limited to approximately $457 million in 2026.
More than 60% of these combined orders in 2026 have come from defense industry customers. According to Kraken, the vast majority of the recent product orders are expected to convert to revenue within the next 12 months, providing visibility as the company enters 2027.
The $102 million in new product orders covers three main areas. More than $55 million relates to orders across Covelya businesses, with strength in offshore oil and gas and defense. A further $25 million covers Kraken’s subsea batteries for Unmanned Underwater Vehicle (UUV) customers in the defense sector.
The remaining $22 million relates to Kraken’s Synthetic Aperture Sonar (SAS) systems, including the largest single SAS order in the company’s history from an undisclosed navy customer. These advanced SAS systems will be integrated on man-portable UUVs as part of a major naval programme. The programme may 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 will release its third quarter 2026 financial results before markets open on Tuesday, November 24, 2026. Kraken’s management will hold a conference call and webcast at 8:30 a.m. Eastern Time the same day to discuss the company’s results and outlook.
