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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kraken Robotics Inc | TSXV:PNG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.04 | 1.01 | 1.04 | 0 | 01:00:00 |
2021 Financial Guidance
Q1/2021 Preliminary Guidance
CEO Comments“Our product sales pipeline is very robust and we expect more than 100% top line growth in 2021,” said CEO Karl Kenny. “This, combined with the maturing of Kraken’s service capabilities and the proposed acquisition of PanGeo Subsea, provides a strong platform for growth in 2021 and beyond. As our top line growth continues and we near completion of major R&D programs in 2022 (multispectral SAS and ThunderFish® XL), we expect to see an acceleration in operating leverage with targeted EBITDA margins in the 30%-35% range from a balance of product sales and recurring services revenue.”
*Adjusted EBITDA and Adjusted EBITDA margin do not have standardized meaning under IFRS and may not be comparable to similar measures used by other issuers. We define Adjusted EBITDA as revenue less costs of sales, administrative expenses, research and development costs plus investment tax credits. We define Adjusted EBITDA margin as Adjusted EBITDA divided by revenues.
LINKSwww.krakenrobotics.com
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ABOUT KRAKEN ROBOTICS INC.Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in Newfoundland with offices in Canada, U.S., Germany, Denmark, and Brazil. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information, please contact:Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@krakenrobotics.com
Greg Reid, Chief Operating Officer(416) 818-9822greid@krakenrobotics.com
Sean Peasgood, Investor Relations(647) 955-1274sean@sophiccapital.com
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