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' customer base is broadening, and on its earnings call it said it just landed one of the largest US defense companies as a customer, unnamed. It announced $28 million of SeaPower battery and SAS orders, including battery contracts from three large international defense companies and a SAS order from a new commercial UUV maker. CEO Greg Reid said its products are integrated, or being integrated, into more than 30 UUV platform types worldwide. x.com  x.com  x.com 

Kraken Robotics is stuck in a trap as its key catalyst, the Anduril subsea ramp, is delayed by at least a year. That ramp likely needs a US battery facility and a Navy order to confirm, and the defense budget showed no large FY27 subsea-drone order. The market has also turned on drone and defense stocks after they ran ahead of a multi-year buildout, and without an uplisting from its junior exchange institutional ownership and volume stay thin. Second-half earnings may bring some support. x.com 

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 

Anduril's purchase of acoustic-modem maker Popoto Modem signals it plans to build its undersea fleet at scale, and more hulls mean more Kraken Robotics batteries. Kraken has supplied pressure-tolerant batteries to the Dive line since 2020 and reportedly powers Ghost Shark and Copperhead; Anduril's Rhode Island plant targets 200+ Dive LD vehicles a year, and qualifying a new battery takes years. Retail owns 79.6% of shares; a TSX uplisting by early 2027 or a US listing could draw institutions. … Show more

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' 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' new $35M of orders is huge news, and the stock still looks extremely cheap as a direct beneficiary of conflict in the Strait of Hormuz, after falling well below its March all-time high. CEO Greg Reid says its product portfolio, used across crewed and uncrewed defense and commercial platforms, should make up over 75% of 2026 revenue. x.com  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 

Kratos and Kraken Robotics are falling on sector macro, not business decline, so a strong year-end close looks likely. Both hit 52-week lows, down 68% and 64% from this year's highs. Per Bernstein, peace headlines and a stalled US budget put defense at a 12% discount to the S&P, but it expects the 2027 budget to rise over 10%. Raymond James notes tax-loss selling hits YTD losers into mid-October, and they often lead the rebound. Kratos has a record $2.08B backlog; Kraken guides $290-320M. x.com