We disclaim any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as may be required by law. We refer you to our filings with the Securities and Exchange Commission for detailed disclosures and descriptions of our business, as well as uncertainties and other variable circumstances, including, but not limited to, risks and uncertainties identified in our Form 10-K for the year ended Octob ...

Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million, compared to $20.3 million in fiscal year 2024 [23][25] - Gross profit rose to $17.7 million from $14.2 million, with a consolidated gross margin of 66.5%, down from 69.8% in the previous year [25][26] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1%, slightly down from 17.6% [28] Business Line Data and Key Metrics Changes - Marine technology business revenue increased by 3.2% to $13.2 million, contributing 49.8% of consolidated net revenue [4][23] - Defense engineering services revenue rose by 5.6% to $7.9 million [25] - The newly acquired Acoustic Sensors and Materials business generated $5.4 million, contributing 20.4% to consolidated net revenue [23][11] Market Data and Key Metrics Changes - In the marine technology business, 46% of revenue came from the defense sector, while 54% was from the commercial marine sector [9][31] - Hardware sales increased by 30.5% to $9.5 million, with significant growth in Asia, where sales rose by approximately 7.7% [9][10] Company Strategy and Development Direction - The company aims to pivot its revenue model towards a multi-year program-based adoption model, focusing on recurring sales and long-tail revenue [33] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [32][14] - The company is actively seeking to complete acquisitions to enhance growth and shareholder value [64] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in the defense sector, which is seen as a key area for future revenue [31][60] - The company anticipates that procurement decisions for active opportunities will be made in early 2026, with initial deliveries expected to align with customer deployment schedules [17][16] - Management highlighted the importance of broader adoption of DAVD technology outside the U.S. as a critical benchmark for growth [47] Other Important Information - The company had $28.7 million in cash and cash equivalents as of October 31, 2025, with no debt [29] - Total operating expenses increased by 24.0% to $13.1 million, primarily due to the addition of Precision Acoustics Limited and currency translation effects [27] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the Indian Navy deliveries and did not confirm any new customer relationships [35] Question: Progress in Europe regarding DAVD systems - Management confirmed the delivery of two systems to a European navy and expressed excitement about potential larger orders following training [36][37] Question: Cumulative deliveries of the untethered DAVD system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and anticipates beating this in fiscal 2026, pending approval for operational use [39][40] Question: Offshore commercial demand environment outlook - Management noted a significant uptick in rental opportunities in Q4 and emphasized the importance of the defense market for future growth [59][60]

Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million from $20.3 million in fiscal year 2024 [23][25] - Gross profit rose to $17.7 million, with a gross margin of 66.5%, down from 69.8% in the previous year [25][26] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1% [28] Business Line Data and Key Metrics Changes - Marine technology business revenue increased by 3.2% to $13.2 million, contributing 49.8% of consolidated net revenue [4][23] - Defense engineering services revenue grew by 5.6% to $7.9 million [25] - Acoustic Sensors and Materials business, added in October 2024, generated $5.4 million, contributing 20.4% to consolidated net revenue [23][25] Market Data and Key Metrics Changes - 46% of marine technology business revenue came from the defense sector, while 54% was from the commercial marine sector [31] - Hardware sales in the marine technology business increased by 30.5% to $9.5 million [9] - Rental assets were underutilized, impacting gross profit margins due to changes in U.S. policy on offshore renewables [10] Company Strategy and Development Direction - The company aims to pivot the revenue model of the marine technology business towards a multi-year program-based adoption model [33] - Focus on increasing market share in underwater imaging sensors within the defense sector, leveraging the unique capabilities of the Echoscope and DAVD technologies [6][12] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [14][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the defense sector, highlighting the importance of securing contracts and expanding market presence [31][60] - The company anticipates procurement decisions for active opportunities in early 2026, with expectations for initial deliveries to commence within the 2026 fiscal year [17] - Management noted the challenges posed by the global policy environment but emphasized the solid financial results achieved [4][23] Other Important Information - The company has $28.7 million in cash and cash equivalents with no debt, representing an increase from $22.5 million the previous year [29] - The acquisition of Precision Acoustics Limited is expected to enhance capabilities in underwater acoustics and position the company for larger defense contracts [8][11] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the specifics regarding the Indian Navy and did not confirm any new customer relationships [35] Question: Progress in Europe and future orders - Management expressed excitement about delivering systems to a European navy and anticipated that training would catalyze further adoption [36][37] Question: Cumulative deliveries of the DAVD untethered system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and expects to exceed this in fiscal 2026, pending approval for operational use [39][40] Question: Foreign navies testing DAVD - Management highlighted the importance of U.S. Navy approval for broader adoption and mentioned involvement with multiple foreign navies [42][46] Question: Next generation Echoscope customer feedback - Management reported strong interest in the NanoGen series, indicating it is a game changer for various markets [50][51]

Coda Octopus Group (NasdaqCM:CODA) Q4 2025 Earnings call January 29, 2026 10:00 AM ET Speaker6Good morning, and welcome to Coda Octopus Group's fiscal year 2025 earnings conference call. My name is Shamali, and I will be your operator today. Before this call, Coda Octopus issued its financial results for the fiscal year ended October 31, 2025, including a press release, a copy of which will be furnished in a report filed with the SEC and will be available in the investor relations section of the company's w ...

AUV installs a pressure-rated subsea battery module on the seafloor, reflecting Kraken Robotics’ deep-ocean tech. Key Points Kraken Robotics has secured massive new orders for its subsea battery technology, validating its position as a leader in marine defense systems. Enovix Corporation completed critical testing of its high-volume manufacturing line to enable mass-commercial production scalability. Aehr Test Systems is pivoting its business model to capture the growing demand for artificial intellige ...

HOUSTON, Jan. 16, 2026 /PRNewswire/ -- Fleetzero, a marine technology company building hybrid and electric propulsion systems for ships, today announced a $43 million Series A financing and the opening of a new manufacturing and R&D facility in Houston, Texas. The capital will be used to expand manufacturing of Fleetzero's Leviathanâ"¢ hybrid and electric marine propulsion system, which is being deployed globally on commercial vessels. Continue Reading "Hybrid and electric propulsion systems are simply chea ...

MONTREAL, Jan. 12, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR), today announced that the Company's board of directors (the "Board") approved 1 for 40 reverse stock split of the Company's common shares. The reverse stock split is expected to become effective when the market opens on January 14, 2026 (the "Effective Date") and the Company's common shares will begin trading on a split- adjusted basis under the existing trading symbol "VMAR." The new CUSIP number for the Company's common ...

Core Insights - The article highlights the advancements in technology and innovation in Jiangsu, showcasing two significant projects: the deep-sea test ship "Future" and the national major scientific infrastructure for future networks [1][6]. Group 1: Deep-Sea Test Ship "Future" - The "Future" ship is a green intelligent technology test vessel, measuring 110.8 meters in length and with a full load displacement of 7,000 tons, designed for deep-sea operations [1][2]. - It features a modular design that allows for the flexible installation of various equipment, including manned and unmanned submersibles, breaking traditional limitations of test vessels [2][3]. - The ship's moon pool system enables real-time testing of equipment at depths of 1,000 to 3,000 meters, significantly shortening the equipment maturity cycle by allowing simultaneous research and testing [3][4]. Group 2: Future Network Infrastructure - The future network facility in Nanjing has been officially put into operation, featuring over 55,000 kilometers of optical transmission lines connecting hundreds of nodes across 40 cities, forming a nationwide "super nerve network" [4][5]. - The facility demonstrates significant efficiency improvements, such as reducing the data transmission time for the "China Sky Eye" from 699 days to 1.64 hours, and achieving a cross-domain collaborative training efficiency of 98% [4]. - The infrastructure supports advanced applications, including remote surgeries and artificial intelligence, with a computing power exceeding 100,000 P, showcasing Jiangsu's commitment to core technology development [4][5]. Group 3: Overall Technological Advancement - The developments in both projects reflect Jiangsu's dedication to long-term research and innovation, emphasizing the importance of persistence and commitment in achieving technological breakthroughs [5][6]. - The article underscores that technology is not just a distant concept but a tangible force that benefits people's lives and empowers industries, indicating a bright future for Jiangsu's high-quality development [6].

Core Viewpoint - Vision Marine Technologies Inc. has successfully closed a public offering of 32,000,000 units at a price of $0.30 per unit, generating gross proceeds of $9,600,000 before expenses [1]. Group 1: Offering Details - The offering consists of units that include one common share (or pre-funded warrant) and one-half of one warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $0.375, expiring five years from issuance [1]. - ThinkEquity acted as the sole placement agent for this offering [2]. Group 2: Use of Proceeds - The proceeds from the offering will primarily be used for general corporate purposes, including inventory management, servicing floorplan lines of credit, general and administrative expenses, and prosecuting patent applications related to the E-Motion electric powertrain technology [2]. Group 3: Company Overview - Vision Marine Technologies is a leader in high-voltage electric marine propulsion systems and operates a multi-brand boat retail and service platform, providing premium boating experiences across both internal combustion and electric segments [3]. - The company offers an integrated ecosystem that spans propulsion, retail, service, and on-water consumer engagement through its E-Motion high-voltage propulsion platform and Nautical Ventures retail network [3].

Vision Marine Technologies Inc. (NASDAQ:VMAR) shares jumped 16.67% in after-hours trading to $0.28 on Thursday after pricing a best-efforts public offering.Check out the current price of VMAR stock here.In a best-efforts public offering, the underwriter agrees to sell as many shares as possible without guaranteeing a specific amount of proceeds.Offering DetailsThe marine technology and retail company priced 32 million units at $0.30 each, targeting gross proceeds of $9.6 million before fees, according to a ...