Toronto, January 11, 2026, 17:42 (ET) — Market closed
Kraken Robotics Inc (TSX-V: PNG; OTCQB: KRKNF) dipped 0.75% to C$7.90 on Friday, even after hitting a peak of C$8.43 earlier in the day on the TSX Venture Exchange. The stock has risen roughly 23% since the close of 2025, with about 3.1 million shares trading hands Friday.
Canadian markets are closed for the weekend, leaving Monday’s session uncertain: will the rally pick up steam or begin to falter? On the TSX Venture, a drop in volume can quickly tip the scales.
Kraken has a key date coming up: Bernard Mills will assume the role of executive vice president, defence, on Jan. 12, the company announced. Mills told investors that “global demand for underwater robotics and maritime systems is accelerating.” Kraken Robotics
Kraken’s KRKNF slipped 1.22% to close at $5.68 Friday in U.S. over-the-counter trading.
Back in early December, the company reported a surge in orders, noting it had secured roughly $12 million worth of purchase orders for synthetic aperture sonar and subsea batteries. Customers included Teledyne Marine and Terradepth, along with two NATO-member navies that also placed orders.
Kraken’s latest quarterly update highlighted the operating leverage investors are eyeing but came with a familiar caveat about volatility. In its Nov. 24 statement, Kraken posted Q3 revenue of C$31.3 million and adjusted EBITDA of C$8.0 million—a profit metric excluding interest, taxes, and depreciation. The company stuck to its 2025 guidance, projecting revenue between C$120 million and C$135 million, and adjusted EBITDA ranging from C$26 million to C$34 million. It also flagged that quarterly figures can fluctuate depending on the timing of orders and shipments.
Kraken positions itself as a marine tech firm offering seabed imaging sensors, endurance solutions, and underwater robotic systems to both military and commercial clients. The company also conducts seabed and sub-seabed imaging surveys, operating in several regions like Canada, the U.S., and parts of Europe.
Analyst targets don’t line up with the current price action. MarketScreener data shows six analysts averaging a target price of C$6.292, well below Friday’s close at C$7.90, with the consensus rating at “outperform.” MarketScreener
Kraken’s investor calendar highlights a busy February, with Navy Tech set for Feb. 3–5 and several appearances lined up at U.S. conferences the week after.
However, the situation works both ways. Should order flow drop off after year-end budget spending, or if deliveries push into later quarters, the stock’s recent gains could unravel as quickly as they appeared.
Looking ahead to the week, traders will zero in on Monday’s open to see if momentum holds. All eyes will also be on Kraken for any fresh order or program announcements as Mills takes over on Jan. 12.
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