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Kraken Robotics Inc. (PNG-X) has received positive reviews from several experts, highlighting its strong performance and growth prospects in the submarine and defense sectors. The company demonstrated impressive financial results, including a 31% increase in net income and a 67% surge in revenue year-over-year, driven by robust product sales and military contracts that provide recurring revenue. However, its high price-to-earnings ratio at 40x raises concerns about potential overvaluation and risk. Despite a slight earnings miss in one of the quarters, analysts remain optimistic about PNG's maintained guidance for 2024, anticipating revenue between $90 million to $100 million. The outlook is favorable as the company continues to secure significant contracts and maintain a strong position in its market.
He owned it last year after shares jumped. It's a great business, but the 40x PE is too high and risky. That said, they are doing well.
It is a submarine stock and is on the cutting edge. It has military contracts which have good margins and provide recurrent revenue.
Phenomenally good performance. Now at inflection point. Seeing more and bigger contracts both on surveillance and on batteries. Hopefully this is just getting started and it doesn't get bought out before the long runway of earnings growth and share price appreciation materializes.
Net income rose 31% year-over-year to $2.6M. Revenue rose 67%(!) year-over-year to $22.8M. Product revenue increased 83% year-over-year driven by increased sales across key products. Adjusted EBITDA increased 79% in the quarter to $5.4M. PNG maintained its outlook for the full year 2024 expecting revenue between $90M to $100M and Adjusted EBITDA in the $18.0M to $24.0M range. This outlook is, "driven by contracts in hand and reflects strength across both our Product and Service groups addressing defense and offshore energy customers." Another very strong quarter for PNG continuing its run and the stock has hit another high today.
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PNG reported a slight EPS beat, coming in at 1.24c, beating estimates of 1c. Revenue more than tripled on a year-over-year basis, but did miss estimates coming in at $28.01M versus forecasts of $$28.35M. Guidance for 2024 was maintained, expecting evenue between $90M to $100M and Adjusted EBITDA in the $18M to $24M range. Management mentioned that it made improvements to improve its technical and commercial depth in 2023 and made significant investments in headcount and infrastructure. PNG also subsequently reported that it received an order for more than $6M for subsea batteries that will be delivered in 2024 and 2025. Momentum continues to be strong and while this quarter was slightly below expectations on a revenue basis, PNG continues to grow at a high rate and win contracts.
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Software-centric sensors for underwater. Two sides: sensor and power. Military, government, research companies are potential customers. Recent US $1.5M contract. Very illiquid. Almost a double from here to the price target. Buy in thirds at $0.52, 0.45, and 0.40.
(Analysts’ price target is $0.96)Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Cash position is strong despite revenues falling in 2020 compared to the large order they received in the prior year. Margins have improved. It continues to secure orders. High risk but doing many things right. Unlock Premium - Try 5i Free
They make sonor in a drone-like vehicle looking for mines underwater. They also have new tech revolving around batteries that helps deep-sea equipment. They're finally getting some traction and a reasonable speculation.
Kraken Robotics Inc. is a Canadian stock, trading under the symbol PNG-X on the TSX Venture Exchange (PNG-CV). It is usually referred to as TSXV:PNG or PNG-X
In the last year, 6 stock analysts published opinions about PNG-X. 3 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Kraken Robotics Inc..
Kraken Robotics Inc. was recommended as a Top Pick by on . Read the latest stock experts ratings for Kraken Robotics Inc..
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
6 stock analysts on Stockchase covered Kraken Robotics Inc. In the last year. It is a trending stock that is worth watching.
On 2025-03-13, Kraken Robotics Inc. (PNG-X) stock closed at a price of $2.38.