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CODA

Coda Octopus Group, Inc.

CODA

Coda Octopus Group, Inc. • NASDAQ
$8.78 ▲ 0.11% (+0.01)
Market Cap $98.77 M
52w High $10.54
52w Low $5.76
Dividend Yield 0%
P/E 29.27
Volume 17.26K
Outstanding Shares 11.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.065M ▲ $3.444M ▲ $1.283M ▲ 18.16% ▲ $0.11 ▲ $1.38M ▼
Q2-2025 $7.017M ▲ $3.41M ▲ $908.762K ▼ 12.95% ▼ $0.081 ▲ $1.456M ▲
Q1-2025 $5.21M ▲ $2.766M ▼ $912.975K ▲ 17.524% ▲ $0.08 ▲ $995.427K ▲
Q4-2024 $5.055M ▼ $3.012M ▲ $326.212K ▼ 6.453% ▼ $-0.3 ▼ $522.805K ▼
Q3-2024 $5.477M $2.658M $1.275M 23.275% $0.11 $1.597M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 ▼ $179.52K ▼ $0 ▼ $0 ▼
Q2-2025 $24.462M ▲ $60.59M ▲ $4.702M ▲ $55.888M ▲
Q1-2025 $22.542M ▲ $56.897M ▼ $3.784M ▼ $53.113M ▼
Q4-2024 $22.479M ▼ $57.545M ▲ $4.416M ▲ $53.129M ▲
Q3-2024 $25.218M $55.945M $3.14M $52.805M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.283M ▲ $2.204M ▲ $-614.065K ▼ $0 $1.734M ▼ $1.6M ▲
Q2-2025 $908.762K ▼ $1.462M ▲ $-72.981K ▲ $0 $1.92M ▲ $1.389M ▲
Q1-2025 $912.975K ▲ $641.511K ▼ $-135.145K ▲ $0 ▲ $62.891K ▲ $513.402K ▼
Q4-2024 $326.212K ▼ $1.994M ▲ $-4.657M ▼ $-2.33K ▼ $-2.739M ▼ $1.942M ▲
Q3-2024 $1.275M $1.712M $-176.008K $0 $1.508M $1.532M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q3-2025
Equipment Rentals
Equipment Rentals
 $0 ▲$0 ▲$0 ▲$0 ▲
Equipment Sales
Equipment Sales
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Software Sales
Software Sales
 $0 ▲$0 ▲$0 ▲$0 ▲
Services
Services
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been steady rather than fast‑growing over the last few years, which suggests a stable but still fairly small business. Profitability looks modest but generally positive, with operating results hovering around break‑even to slightly profitable levels. Earnings per share have moved around a bit but stayed in positive territory, which points to a business that can make money, though not in a strong or consistently rising way yet. Overall, the income statement shows a niche company that is profitable but not yet in a clear growth or high‑margin phase.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. The company holds a meaningful amount of cash for its size and carries essentially no debt, which reduces financial risk and gives it flexibility to weather slow periods or fund development. Assets and equity have inched up over time, showing gradual strengthening rather than rapid expansion. This profile suggests a cautious financial posture, with an emphasis on staying well‑capitalized and self‑funded.

Cash Flow

Cash Flow Cash generation has been uneven. Some years show positive cash flow from operations and free cash flow, while others are closer to break‑even. Capital spending is very light, which limits cash drain but also hints that most investment happens in people and technology rather than big physical assets. The pattern indicates a business that is not a heavy cash burner, but also not yet a consistently strong cash machine. Stability is decent, but predictability of cash flow may be limited.

Competitive Edge

Competitive Edge Coda operates in a very specialized corner of the defense and subsea technology world. Its real‑time 3D sonar (Echoscope) and diver augmented reality system (DAVD) are highly differentiated and protected by patents, giving it a notable technical edge. Long‑standing relationships and sole‑source roles with major defense customers, especially the U.S. Navy, create high switching costs and a degree of revenue stability. At the same time, the company competes against far larger industrial and marine technology players and is exposed to defense budget and program timing. Overall, it appears to have a strong niche moat, but within a focused and relatively narrow market.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of the story. The company continues to advance its core sonar line (Echoscope PIPE, higher‑dimension data, compact variants) and expand the capabilities of its diver AR systems, including untethered versions. These efforts open doors in both defense and commercial markets like offshore wind, oil and gas, and underwater construction. The patent base and integrated hardware‑software systems reinforce its lead, but this also means ongoing R&D spending is critical and must be managed carefully relative to its modest scale. New products, field trials, and adoption curves will be key signals of how well this innovation converts into sustainable growth.

Summary

CODA looks like a small, specialized technology company with a conservative financial base and a strong technical edge in underwater imaging and diver systems. The income statement shows modest, uneven profitability rather than strong growth, but the balance sheet is solid, with cash and no debt providing resilience. Cash flow is not consistently robust, yet the business is not heavily cash‑hungry either. Strategically, its niche focus, patented technology, and deep ties to defense customers give it a meaningful competitive moat, albeit in a concentrated and program‑driven market. Future value will depend heavily on how successfully it can turn its ongoing innovation—in 3D sonar, augmented reality for divers, and new product generations—into broader adoption across defense and commercial subsea applications.

NEWS

September 15, 2025 · 7:00 AM UTC

Coda Octopus Group Reports Fiscal Third Quarter 2025 Financial Results

Read more