Added to YB: 2026-03-06
Pitch date: 2026-03-04
PNG.V [neutral]
Kraken Robotics Inc.
Author Info
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Company Info
Kraken Robotics Inc., a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.
Market Cap
CAD 2.9B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
130.76
P/E
153.93
EV/Sales
27.31
Sector
Electronic Equipment, Instruments and Components
Category
special_situation
Kraken Robotics Just Became A Subsea Drone Monopoly
PNG.V (holding update): Acquired Covelya Group (C$262M rev) for C$615M, tripling revenue base to C$365M. Combo makes Kraken dominant subsea drone component supplier—power, sonar, navigation, comms, software, optics—to Anduril, HII, navies. Bought at 9.7x EBITDA vs Kraken's 26.9x rev multiple. Pro-forma: C$88.5M EBITDA, 24% margin, 9.5x EV/rev, 0.8x net leverage. EPS accretive by 2027. Risks: 18.6% dilution, integration of 6 biz across 8 countries, $150M new debt, standalone miss (C$103M vs C$120-135M guide). NASDAQ uplist catalyst ahead.
Read full article (8 min)