Q: Good afternoon,
The numbers looked good from Kraken today, your thoughts going forward?
Thank you
The numbers looked good from Kraken today, your thoughts going forward?
Thank you
5i Research Answer:
EPS of 1c missed estimates of 1.2c; revenue of $31.29M missed estimates of $34.5M. EBITDA of $7.97M missed estimates by 1.8%. Full year sales guidance was given at $120M to $135M, mostly above estimates of $123.8M. Gross margin was 59%. Sales rose 60% on record shipments of subsea batteries and sonar. Service revenue rose 85% to $13M. EBITDA rose 92%. Cash is $126M. Despite the miss the growth is solid here and guidance calls for 40% growth as well. We remain comfortable and do not see the dip on news as concerning today. We would be fine buying.