Coda Octopus Reports Q3 2026 Earnings with Growth in Defense Engineering
Coda Octopus Group (CODA) reported third-quarter earnings for fiscal year 2026, showing a revenue increase of $7.7 million driven by strong performance in defense engineering and acoustic sensors segments. The marine technology segment saw a decline due to reduced customer activity in the Middle East and parts of Asia. Pretax income rose 16% year over year to $1.8 million as growth in key areas offset lower gross margins from changes in revenue composition. The company maintained a debt-free balance sheet with cash reserves at $31.7 million, while rental revenue surged by 131.1%. Defense engineering revenue grew significantly by 68.3%, and acoustic sensors saw steady demand internationally. Management noted that geopolitical instability affected marine technology sales but emphasized the stability of long-term defense contracts. Coda Octopus also highlighted progress in its DAVID diving system, with recent orders from the US Navy for training systems and peripherals.
Tickers: $CODA
Topics: acoustic sensors defense engineering gross margin marine technology revenue growth