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Coda Octopus Group, Inc. - CODA STOCK NEWS

Welcome to our dedicated page for Coda Octopus Group news (Ticker: CODA), a resource for investors and traders seeking the latest updates and insights on Coda Octopus Group stock.

Coda Octopus Group, Inc. (symbol: CODA) is a pioneering company specializing in the development and sale of underwater technologies and equipment for a wide range of applications including imaging, mapping, defense, and surveys. Operating through two primary segments — the Marine Engineering Business and the Marine Technology Business — the company serves markets across the Americas, Europe, Australia, Asia, the Middle East, and Africa.

The Marine Technology Business segment is notable for its proprietary solutions tailored for both commercial and defense subsea markets. This includes hardware and software for Geophysical Systems, Motion & Positioning Systems, and Real-Time Volumetric Imaging Sonar. Among their flagship products are the CodaOctopus GeoSurvey Data Acquisition and Interpretation Software and the CodaOctopus GeoSurvey Productivity Suite, which automates complex data set analysis tasks. In addition, the company’s motion sensing products, such as the Octopus F180 and F170, ensure accurate positioning and motion data even in challenging offshore conditions.

The Marine Engineering Business segment offers a range of engineering services to clients, particularly in the defense sector. This segment leverages its expertise to provide bespoke solutions that meet specific client needs, contributing significantly to the company's overall revenue.

Recent achievements include the launch of new software solutions that enhance underwater data acquisition and analysis, as well as partnerships with key players in the defense and marine industries. Financially, Coda Octopus Group is robust, with a strong revenue stream primarily driven by its Marine Technology Business segment.

The company continues to innovate and expand its product offerings, ensuring that it remains at the forefront of underwater technology solutions. With a global footprint and a commitment to cutting-edge research and development, Coda Octopus Group, Inc. is well-positioned for sustained growth and success in its field.

News

Coda Octopus Group Appoints Gwenael Rouy Poirier to its Board of Directors

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Coda Octopus Group appoints Gwenael Rouy Poirier to its Board of Directors. Gwenael brings over 27 years of experience in Aerospace and Defense industries, previously serving as Group CFO for GKN Aerospace. He aims to help the company achieve further growth with its innovative technology.
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Coda Octopus Group Reports that its Echoscope® Technology used as the Primary Survey Tool in the Francis Scott Key Bridge ongoing salvage operations.

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Coda Octopus Group, Inc. (CODA) reports the use of its Echoscope® technology in salvage operations, showcasing its leadership in sonar technology. The technology aids in challenging conditions with visibility, highlighting its effectiveness in real-time subsea intelligence. Blair Cunningham, CODA’s President of Technology, expresses pride in the company's role in these operations.
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Coda Octopus Group Reports Fiscal First Quarter 2024 Financial Results

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Coda Octopus Group, Inc. reported unaudited financial results for its fiscal first quarter ended January 31, 2024. Despite revenue declines, the company remains optimistic about its Engineering Business segment's progress and future opportunities. The Marine Industry is showing positive signs with increased inquiries for rental solutions and opportunities for underwater construction projects. Financially, total revenue decreased by 20.3%, with a notable decline in revenues from the Marine Engineering Business. Operating income and net income also saw reductions compared to the previous year. However, the company maintained a strong balance sheet with a cash balance of $25.0 million at the end of the quarter.
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Coda Octopus Group, Inc., Sets Fiscal First Quarter 2024 Earnings Conference Call for Monday, March 18, 2024, at 10 a.m. Eastern Time

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Coda Octopus Group, Inc. will host a conference call to discuss its fiscal first quarter results on March 18, 2024. The call will provide insights into the Company's performance and future prospects.
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Coda Octopus Group Reports Fiscal 2023 Financial Results

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Coda Octopus Group, Inc. (CODA) reported a decline in total revenue by 12.9% for FY2023, with a 31.4% decrease in rental revenues and a 19.5% fall in outright sales. The company faced challenges in the offshore renewable energy and underwater construction markets due to high interest rates, inflation, and supply chain issues. Despite these headwinds, the company continued to invest in its growth strategy and saw progress in its strategic goals. Operating income and net income before taxes also saw reductions, while R&D expenditures decreased by 6.3% in FY2023. The company aims to accelerate growth through Defense Underwater Vehicle Programs and the launch of new products like the Digital Audio Communications Systems – Voice HUB 4. CODA also plans to pursue an active M&A strategy to acquire complementary technologies and accelerate growth in FY2024.
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Coda Octopus Group Sets Fiscal Year 2023 Earnings Conference Call for Monday, January 29, 2024 at 10 a.m. Eastern Time

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Coda Octopus Group, Inc. will host a conference call to discuss its fiscal year 2023 results. The call will take place on January 29, 2024, and will be followed by a question-and-answer period. The company is a global leader in real-time 3D/4D/5D and 6D imaging sonar technology for subsea intelligence and diving technology.
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Coda Octopus Group Announces Increase in Scope of Supply Under Key Defense Program, Resulting in Increased Order Value

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Coda Octopus Group reports an increase in purchase contract value under its subsidiary's Defense Program, receiving orders worth $1m and a total of $2.9m in orders for fiscal year 2023. The company has broadened its scope of supply and sees increased opportunities for growth in its longstanding programs.
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Coda Octopus Group Reports Fiscal Third Quarter 2023 Financial Results

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Coda Octopus Group reports unaudited financial results for Q3 2023 and YTD 2023. Total revenue decreased by 22.0% in Q3 2023 compared to the same period last year. Gross margin decreased to 68.8% in Q3 2023. Net income before taxes decreased to $1.1 million in Q3 2023. Company's cash balance increased to $24.9 million. Total revenue decreased by 7.6% in YTD 2023. Gross margin remained at 68.0% in YTD 2023. Net income before taxes decreased to $3.5 million in YTD 2023. R&D expenditures reduced by 13.0% in YTD 2023. Management remains optimistic about long-term strategy.
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Coda Octopus Group Announces the Appointment of New Chief Financial Officer, Mr. John Price

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Coda Octopus Group appoints John Price as new CFO, effective Nov 27, 2023.
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Coda Octopus Group Sets Fiscal Year 2023 Third Quarter Earnings Conference Call for Wednesday, September 13, 2023 at 10 a.m. Eastern Time

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Coda Octopus Group to host conference call on September 13, 2023, to discuss Q3 results
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FAQ

What is the current stock price of Coda Octopus Group (CODA)?

The current stock price of Coda Octopus Group (CODA) is $8.23 as of December 20, 2024.

What is the market cap of Coda Octopus Group (CODA)?

The market cap of Coda Octopus Group (CODA) is approximately 89.6M.

What does Coda Octopus Group, Inc. specialize in?

Coda Octopus Group, Inc. specializes in developing underwater technologies and equipment for imaging, mapping, defense, and survey applications.

What are the main segments of Coda Octopus Group, Inc.?

The company operates through two main segments: the Marine Engineering Business and the Marine Technology Business.

What products does Coda Octopus Group offer?

The company offers a variety of products including the CodaOctopus GeoSurvey Data Acquisition and Interpretation Software, motion sensing products like the Octopus F180 and F170, and real-time volumetric imaging sonar.

In which regions does Coda Octopus Group operate?

The company operates across the Americas, Europe, Australia, Asia, the Middle East, and Africa.

Who are the primary clients of Coda Octopus Group's Marine Engineering Business segment?

The primary clients are within the defense markets, where the company provides specialized engineering services.

What recent achievements has Coda Octopus Group made?

Recent achievements include the launch of new software solutions for underwater data acquisition and analysis, and forming partnerships with key players in the defense and marine industries.

How is Coda Octopus Group performing financially?

The company has a strong financial performance, with the majority of its revenue coming from the Marine Technology Business segment.

What sets Coda Octopus Group apart from its competitors?

Their proprietary technologies and a strong focus on research and development in underwater technology solutions set Coda Octopus Group apart from its competitors.

How does Coda Octopus Group ensure data accuracy in offshore conditions?

The company uses advanced motion sensing products like the Octopus F180 and F170 to provide accurate positioning and motion data even in challenging offshore conditions.

What is the future outlook for Coda Octopus Group, Inc.?

With continuous innovation and expansion of its product offerings, Coda Octopus Group is well-positioned for sustained growth and success in the underwater technology market.

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Coda Octopus Group, Inc.

Nasdaq:CODA

CODA Rankings

#4488 Ranked by Market Cap
N/A Ranked by Dividends

CODA Stock Data

89.56M
5.48M
51.02%
18.88%
0.89%
Aerospace & Defense
Search, Detection, Navagation, Guidance, Aeronautical Sys
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United States of America
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