Kraken Robotics is evolving from a small sonar supplier into a global subsea defense platform and should do well heading into Anduril's eventual IPO. Catalysts over the next 6-12 months include closing the $615M Covelya acquisition with updated guidance, Anduril's July Navy CAMP Dive-XL demonstration, possible NATO subsea spending pledges, new battery capacity and contracts in H2 2026, and EU cable-security funding in Q4. Integration, dilution, debt and back-half revenue are the risks. x.com 

Kraken Robotics' organic results are strong, and adding Covelya should make the picture even better. Per Kraken Robotics, Q1 2026 revenue grew 35% year over year and 2026 guidance was reiterated. x.com 

Kraken Robotics' stock already prices in a lot after its Covelya acquisition, even though the deal strengthens the business. Kraken bought six subsea firms at 10x EBITDA, adding exposure to areas with durable pricing power, but the market values the combined company near three times that multiple. To earn it, Kraken must integrate them, hold about 24% EBITDA margins, convert a record order book and diversify from a customer near 45% of sales. The first consolidated quarter comes in November. … Show more

Kraken Robotics should trade at a US$3.0-3.5 billion market cap by the end of 2026, given revenue guidance of $290-320 million and a path to $1 billion of revenue in 2030. x.com 

Kraken Robotics is the subsystem prime for underwater drones, putting $3-5 million of content per hull in reach as Anduril and navies scale uncrewed fleets. Its offering spans batteries, sonar and navigation via Covelya/Sonardyne. Funds that bought near CAD $2 two years ago have spent four months clearing their positions, and that selling is mostly past. x.com  x.com  x.com 

Kraken Robotics is not yet a buy despite falling almost 60% from its high. It should first report combined results with Covelya that preserve a credible growth and margin path, and the stock should form a base; the defence factor remains deeply out of favor. @DeepSailCapital argues it is near a bottom, expecting CAD 0.20 of 2028 EPS, mid-20s to 30s revenue growth and product ramps with Anduril. x.com  x.com 

Kraken Robotics' order book is already running above full-year guidance, and new XL-UUV battery deals keep locking it in as a power supplier. Combined 2026 orders with Covelya total about $355 million against $290-$320 million guidance, and a new long-term supply agreement with a major conglomerate repeats the Anduril pattern. Q2 revenue rose 9% excluding a $1.5 million reversal, gross margin widened to 59%, and management expects Q3, the first combined quarter, to be a significant step change. … Show more

Kraken Robotics offers one of the best risk-reward setups in defense, giving exposure to Anduril's autonomy trend at a fraction of the valuation. It supplies SeaPower subsea batteries for Anduril's underwater drone programs, has 2026 product orders of $327-355M and guides to $290-320M revenue and $65-75M adjusted EBITDA, yet sits near a sub-$1B market cap after a 60%+ drop. It plans a full TSX listing in late 2026 or early 2027, and $10 is the target. x.com 

Kraken Robotics looks expensive at 11x sales, or 2x next year's, when the industry usually gets 1x. At 1x next year's sales, give or take 12%, fair value is about $1.86-$2.37, leaving the $2.91 US-listed price 23% above the high end. The estimate leans on forecast sales 128% above trailing. This is a valuation-level read only, not fundamental work. x.com 

Kraken Robotics looks overlooked even though its CEO and executives recently bought shares above the current price, and the CEO already holds about $35m of stock. Kraken is profitable yet trades at a discount to unprofitable peers, and its triple-digit P/E means little for a scaling business. x.com  x.com  x.com  x.com