Here Is What You Need To Know Before Investing In Coda Octopus Group, Inc. (CODA)

Coda Octopus Group, Inc. (NASDAQ:CODA) is among the 10 Best Low Priced Defense Stocks to Buy NowThe company is an established supplier to the Underwater/Subsea market. It sells technologies and equipment for 3D imaging, mapping, defense, and survey applications.

Here Is What You Need To Know Before Investing In Coda Octopus Group, Inc. (CODA)

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On May 13, the firm announced that its Marine Technology Business Unit received a $1.5 million order for DAVD tethered systems, bundled with Echoscope, for use by different U.S. Navy Commands. The DAVD Tethered System is currently operational across 9 naval commands, underscoring the U.S. Navy’s commitment to the adoption of the technology.

The recent order builds on an earlier contract award in March for 16 DAVD Untethered Systems (DUS) intended for the Special Operations Command community of users. Blair Cunningham, President of Technology at Coda Octopus Group, Inc. (NASDAQ:CODA), says the company is now also focusing on the broader adoption of the technology from foreign navies.

In April this year, Coda Octopus Group, Inc. (NASDAQ:CODA)’s UK-based defense business, Coda Octopus Martech Limited, was awarded a $1.4 million engineering services order by a leading UK defense contractor for sub-components to form part of a suite of autonomous mine sweeping systems.

Last month, Coda Octopus Group, Inc. (NASDAQ:CODA) declared financial results for the second quarter of fiscal 2025. The company reported a revenue of approximately $7 million, up 31.8% year-over-year. However, operating income declined 19.5% from the previous year, due to higher-than-usual commission costs and weakening of the U.S. Dollar against the British pound and Danish krone.

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Disclosure: None.